Statements. Not later than 12:00 noon California time on the fourth Business Day following the last day of a Due Period, the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date: (i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date; (ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group; (iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period; (iv) The amount of all Curtailments in each Group that were received during the Due Period; (v) The principal portion of all Monthly Payments for each Group received during the Due Period; (vi) The amount of interest received on the Mortgage Loans in each Group; (vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group; (viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L; (ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately; (x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date; (xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date; (xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date; (xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group; (xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01; (xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03; (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above; (xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01; (xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01; (xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix); (xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period; (xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date; (xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance; (xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date; (xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and (xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Structured Asset Securities Corp), Pooling and Servicing Agreement (Lehman Abs Corp)
Statements. Not Each month for so long as a Class of Auction Rate Certificates is Outstanding, not later than 12:00 noon California New York time on the fourth Business Day following the last day of a Due PeriodAuction Reporting Date, the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate InsurerTrustee, by telecopy, the receipt and legibility of which shall be confirmed telephonically, with a hard copy thereof to be delivered on the succeeding Distribution Business Day following the Determination Date, a statement certificate signed by a Servicing Officer stating the date (day, month and year), the “Trustee’s Series number of the Certificates, the date of this Agreement, and the amount to be distributed on the upcoming Remittance Report”) containing Date to each Class of Auction Rate Certificates as a payment of principal. Each month, not later than 12:00 noon New York time on the information set forth below (Determination Date, the Servicer shall deliver to the extent any such information Certificate Insurer and to the Trustee, by telecopy, for distribution to the Certificateholders, the receipt and legibility of which shall be confirmed telephonically, with hard copy thereof and the Servicer's Monthly Computer Tape in the form attached hereto as Exhibit R (both in hard copy and in computer tape form) to be delivered on the Business Day following the Determination Date, a certificate signed by a Servicing Officer (a "Servicer's Certificate") stating the Servicer pursuant to date (day, month and year), the first sentence Series number of the Certificates, the date of this Section 5.01(a) has been so delivered) with respect to such Distribution DateAgreement, and the following:
(i) The Group 1 and Group 2 the Pool Available Funds and Remittance Amounts for each Certificate Rate Pool for the related Distribution Remittance Date;
(ii) The the Class Principal Balance of Balances for each Class of Class A Pool I, Pool II, Pool III and Pool IV Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report Servicer's Certificate pursuant to subclause (xiixv) below, or, in the case of the first Determination Date, the Original Class Certificate Principal Balance of for each Class of Class A Certificates Pool I, Pool II, Pool III and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each GroupPool IV Certificates;
(iii) The the Pool Principal Distribution Amounts for each Pool for the related Remittance Date, in the aggregate and listed separately for the portions relating to each Class of Pool I, Pool II, Pool III and Pool IV Certificates;
(iv) the total amount of any Insured Payments and Guaranteed Supplemental Payments included in the Pool Available Remittance Amount for Pool I or Pool IV for the related Remittance Date;
(v) the Subordinated Amount and Specified Subordinated Amount for the related Remittance Date, listed separately for each Pool and the Pool Available Maximum Subordinated Amount for Pool II and Pool III;
(vi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that Pool which were the subject of Principal Prepayments during the Due Period;
(ivvii) The the amount of all Curtailments in each Group that which were received during the Due Period, stated separately for each Pool;
(vviii) The principal portion the aggregate amount of all Excess Payments and the amounts of Monthly Payments for each Group in respect of principal received during the Due Period, stated separately for each Pool;
(viix) The the amount of interest received on the Mortgage Loans in Loans, stated separately for each GroupPool;
(viix) The the amount of the Monthly Advances to be made on the Determination Date, the portion of the Monthly Advances to be deposited in the Certificate Accounts pursuant to Section 6.01(a)(ii), and the Compensating Interest payment to be made on the Determination Date Date, in each case stated separately for each GroupPool;
(viiixi) The the delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount O, stated separately for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution DatePool;
(xii) The the amount of any Realized Losses incurred during the related Due Period, stated separately for each Pool;
(xiii) the Pool Remittance Amounts for Pool I and Pool IV and the Class Current Interest Requirement and the Pool Principal Distribution Amount for Pool II and Pool III for the Remittance Date, in the aggregate and by component and listed separately for the portions relating to each Class of Certificates in the related Pool, any Interest Shortfall Carryforward Amount relating to each Class of Certificates and, with respect to the Auction Rate Certificates, the amount otherwise required to be distributed thereon with respect to principal and retained in the Certificate Account for Pool II pursuant to Section 6.08(f);
(xiv) the Reimbursable Amounts, the Pool I and Pool II Strip Amounts and the Class X Remittance Amount payable pursuant to Section 6.08(d)(X)(v), Section 6.08(d)(Y)(xviii) and Section 6.08(d)(Z)(xviii) with respect to the Remittance Date;
(xv) the Class Principal Balance of for each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of for each Group, each Pool after giving effect to the distribution to be made on the Distribution Remittance Date and after allocation of Realized Losses made on such Remittance Date;
(xiiixvi) The weighted average remaining term to maturity of the Mortgage Loans Monthly Excess Spread Percentage, the Excess Spread, and the Remainder Excess Spread Amount (in each Group case, in the aggregate and stated separately for each Pool);
(xvii) the Cumulative Realized Losses, stated separately for each Pool, with respect to the Remittance Date;
(xviii) the weighted average Loan Rate in maturity and weighted average Interest Rate, stated separately for each GroupPool;
(xivxix) The the Servicing Fees, the Contingency Fees, the Auction Agent Fees, the Remarketing Agent Fee and amounts to be deposited to the Expense Accounts, the Insurance Accounts and the FHA Premium Account, in each case, as applicable, stated separately for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01Pool;
(xvxx) The the amount of all payments or and reimbursements to the Servicer pursuant to Section 3.035.04(b), (c), (d)(ii), (e) and (f)(i), stated separately with respect to each Pool;
(xvixxi) The the Class Pool Factor for each Group Class determined using the balances in subclause (iixv) above;
(xviixxii) The amountthe weighted average Mortgage Interest Rate and Adjusted Mortgage Interest Rate of the Mortgage Loans for each Pool and the weighted average Class Adjusted Loan Remittance Rates for each Pool, in each case for the related Remittance Date, and the weighted average Mortgage Interest Rate for the prior three month period;
(xxiii) the Class AF-6, Class AV-1, Class MV-1, Class MV-2 and Class BV Remittance Rates with respect to the Remittance Date and if any of the Class AF-6, Class AV-1, Class MV-1, Class MV-2 and Class BV Remittance Rates was based on the applicable Net Funds Cap for the related Pool, what it would have been if based on LIBOR plus the applicable Margin or the Auction Rate, as the case may be;
(xxiv) the rate of LIBOR and the Auction Rate with respect to the Remittance Date;
(xxv) the Net Funds Cap for the Class AF-6, Class AV-1, Class MV-1, Class MV-2 and Class BV Certificates with respect to the Remittance Date;
(xxvi) if the Remittance Rate for any Class of Certificates for such Remittance Date is based on the Net Funds Cap, the amount of any Certificateholders' Interest Carryover for such Class for such Remittance Date;
(xxvii) the amount of the distribution, if any, transferred allocable to Certificateholders' Interest Carryover and the amount of any Certificateholders' Interest Carryover for all prior Remittance Dates after giving effect to such distribution (in each case, stated separately by Class and in the aggregate);
(xxviii) whether the Trigger Event for Pool II and Pool III and the S&P Trigger and the Pool II Cumulative Loss Trigger for Pool II is in effect;
(xxix) the Senior Percentage and the Class B Percentage for the current Remittance Date;
(xxx) the amount of any Applied Realized Loss Amount, Realized Loss Amount and Unpaid Realized Loss Amount for each Class of Pool II and Pool III Certificates as of the close of such Remittance Date;
(xxxi) the Accelerated Principal Distribution Amount for Pool II and Pool III for such Remittance Date;
(xxxii) the amount to be deposited into the FHA Premium Account on the related Remittance Date and the amount reimbursable to the Servicer and/or the Certificate Insurer from the Simple Interest Excess Account to the Distribution FHA Premium Account pursuant to Section 5.03 6.06(b)(i);
(xxxiii) The amount of FHA Payments and from Related Payments received during the Spread Account related Due Period, stated separately for each Pool;
(xxxiv) The Reserve Amount for the related Remittance Date;
(xxxv) Claims filed during the Due Period;
(xxxvi) Claims paid during the Due Period;
(xxxvii) Claims denied by the FHA during the Due Period;
(xxxviii) Claims pending payment by the FHA during the Due Period;
(xxxix) The number and Principal Balance of all Defaulted Mortgage Loans purchased during the Due Period, stated separately for each pool;
(xl) The Class X Accelerated Distribution Amount and Class AF-6 Supplemental Interest Amount for such Remittance Date; and
(xli) Such other information as the Certificate Insurer and the Certificateholders may reasonably require. The Trustee shall forward such report to the Distribution Certificateholders and, with respect to the report on the Pool I and Pool IV Mortgage Loans, to the Certificate Insurer on the Remittance Date, together with a separate report indicating the amount of funds deposited in each Certificate Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess 6.01(a)(iv); and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the SellerRepresentative, as appropriate, pursuant to Section 5.01(a)(ivSections 6.03(c)(i), 6.03(c)(ii), 6.04(b)(iv), 6.08(d)(X)(iii), 6.08(d)(Y) and 6.08(d)(Z) (all reports prepared by the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number Trustee of Mortgage Loans such withdrawals and deposits will be based in each Group outstanding at whole or in part upon the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available information provided to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on or the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the ServicerClaims Administrator). To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report Servicer's Certificate and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may Trustee shall be entitled to rely upon the lattertelecopy. In the discretion of the Servicer, in the case of certain information furnished pursuant to subclauses (ii) and (ix) abovethe above provisions, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each per $1,000 (or, in the case of the Auction Rate Certificates, per $25,000) original dollar amount as of the Cut-Off Date. Additionally, on the Special Remittance Date the Trustee shall, based upon information received from the Servicer, forward to the Certificateholders and the Rating Agencies, a report setting forth the amount of principal and interest, if any, being paid to each Class of Certificates on the Special Remittance Date, and to the Certificate Insurer, a report setting forth such information only with respect to the Pool I and Pool IV Certificates.
(a) Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish to the Trustee for distribution to each Person who at any time during the calendar year was a Certificateholder the amount of interest and principal distributed with respect to each Class of Certificates plus such other customary information as the Servicer determines to be necessary and/or required by the Internal Revenue Service to enable the Certificateholders to prepare their tax returns for such calendar year. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time are in force.
(b) On each Remittance Date and the Special Remittance Date, the Trustee shall forward to the Class X and Class R Certificateholders a copy of the report forwarded to the Certificateholders of each Pool in respect of such Remittance Date or the Special Remittance Date, as the case may be, and a statement setting forth the amounts actually distributed to the Class X and Class R Certificateholders, on such Remittance Date together with such other information as the Servicer provides and deems necessary or appropriate.
(c) Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish to the Trustee for distribution to each Person who at any time during the calendar year was a Class X or Class R Certificateholder such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class X or R Certificateholder, as applicable. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time in force.
(d) Upon reasonable advance notice in writing, the Servicer will provide to each Certificateholder which is a savings and loan association, bank or insurance company certain reports and access to information and documentation regarding the Mortgage Loans sufficient to permit such Certificateholder to comply with applicable regulations of the Office of Thrift Supervision or other regulatory authorities with respect to investment in the Certificates.
(e) The Servicer shall furnish to each Certificateholder and the Certificate Insurer, during the term of this Agreement, such periodic, special, or other reports or information, whether or not provided for herein, as shall be necessary, reasonable, or appropriate with respect to the Certificateholder or the Certificate Insurer, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Certificateholder or the Certificate Insurer may reasonably require; provided, that the Servicer shall be entitled to be reimbursed by such Certificateholder or the Certificate Insurer for the Servicer's actual expenses incurred in providing such reports if such reports are not producible in the ordinary course of the Servicer's business.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (TMS Mortgage Inc), Pooling and Servicing Agreement (Money Store Home Equity Corp)
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) through (xxvi) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require, and the Seller hereby agrees to provide the Trustee and the Servicer with an amended Prepayment Charge Schedule, if required, at such time. Not later than 12:00 noon California time on the Determination Date, each Distribution Date the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, prepare a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds and each Class’ Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee and the Trustee Fee (including the separate amounts payable to each of the Trustee and its Custodian);
(vii) the Pool Balance as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The number the Overcollateralization Amount and Principal Balances of all Mortgage Loans and the Required Overcollateralization Amount as of the Mortgage Loans in each Groupclose of business on the Distribution Date, that were after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the subject calculation thereof;
(xi) the aggregate amount of Principal Prepayments received during the Due related Prepayment Period;
(ivxii) The the amount of all Curtailments in each Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class P Certificates, Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Groupas of the first day of the related Due Period;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvivi) The Pool Factor for each Group determined using (as reported by the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01Servicer);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) for the Distribution Dates in July 2003 and August 2003, the amount, if any, on deposit in the First Payment Loan Account;
(xxiii) The Class A-2 Available Funds Carryforwardthe number and aggregate Principal Balance of Mortgage Loans, if anyother than Mortgage Loans in default or imminent default, after giving effect to all distributions on such Distribution Datethat were modified by the Servicer during the related Due Period (as reported by the Servicer);
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Offered Certificates and (other than the Class A-IO Certificates), stating separately stating any amounts received from the amount that is allocable cap provider with respect to each such Class the Interest Rate Cap Agreement, and the amount allocable to interest of Net Rate Cap Carryover remaining for each such Class;
(xxv) the amount on deposit in the Net Rate Cap Fund, and principalthe amounts of each deposit and withdrawal from such Account; and
(xxvxxvi) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying for each Pre-Funding Distribution Date, the details thereofremaining amount in the Pre-Funding Account. The Trustee shall make available such report available to the Servicer, the DepositorSeller, the Certificateholders, the Certificate InsurerRating Agencies, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and the parties to this Agreement via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Trustee or and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to the Depositor, the Seller and each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Home Equity Loan Asset-Backed Certificates Series 2003-2), Pooling and Servicing Agreement (Home Equity Loan Asset-Backed Certificates Series 2003-2)
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) through (xxvi) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require, and the Seller hereby agrees to provide the Trustee and the Servicer with an amended Prepayment Charge Schedule, if required, at such time. Not later than 12:00 noon California time on the Determination Date, each Distribution Date the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, prepare a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based solely upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds and each the Certificate Rate for each Class for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee and the Trustee Fee (including the separate amounts payable to each of the Trustee and its Custodian);
(vii) the Pool Balance as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The number the Overcollateralization Amount and Principal Balances of all Mortgage Loans and the Required Overcollateralization Amount as of the Mortgage Loans in each Groupclose of business on the Distribution Date, that were after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the subject calculation thereof;
(xi) the aggregate amount of Principal Prepayments received during the Due related Prepayment Period;
(ivxii) The the amount of all Curtailments in each Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class P Certificates, Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Groupas of the first day of the related Due Period;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvivi) The Pool Factor for each Group determined using (as reported by the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01Servicer);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) for the Distribution Date in April 2004 and May 2004, the amount, if any, on deposit in the First Payment Loan Account;
(xxiii) The Class A-2 Available Funds Carryforwardthe number and aggregate Principal Balance of Mortgage Loans, if anyother than Mortgage Loans in default or imminent default, after giving effect to all distributions on such Distribution Datethat were modified by the Servicer during the related Due Period (as reported by the Servicer);
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Offered Certificates and (other than the Class A-IO Certificates), stating separately stating any amounts received from the amount that is allocable cap provider with respect to each such Class the Interest Rate Cap Agreements, and the amount allocable to interest of Net Rate Cap Carryover remaining for each such Class;
(xxv) the amount on deposit in the Net Rate Cap Fund, and principalthe amounts of each deposit and withdrawal from such Account; and
(xxvxxvi) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying for each Pre-Funding Distribution Date, the details thereofremaining amount in the Pre-Funding Account. The Trustee shall make available such report available to the Servicer, the DepositorSeller, the Certificateholders, the Certificate InsurerRating Agencies, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]▇▇▇▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (vi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the parties to this Agreement via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date”. Assistance in using the website can be obtained by calling the Trustee’s investor relations customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method options are entitled to have a paper copy mailed to them via first class mail by calling the investor relations customer service desk and indicating such. In additionThe Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, together the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with such reportthis Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall forward furnish to Bloomberg each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Class R Certificateholders in the same manner as the Remittance Report is made available to all Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Tax Matters Persons and furnished to Certificateholders by the Trustee or Tax Matters Person pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to the Depositor, the Seller and each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer tape delivered diskettes or files furnished by the Servicer on the Distribution Date. The Trustee may fully rely upon pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall have no liability with respect not be copied or distributed except to information provided by the Servicer. To the extent that there are inconsistencies between required by law or to the telecopy Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed Seller or for any other purpose except as set forth in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Datethis Agreement.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Renaissance Mort Acc Corp Renaissance Home Eq Ln Tr 2004 1), Pooling and Servicing Agreement (Delta Financial Corp)
Statements. Not later than 12:00 noon California time on Tenant shall furnish the fourth Business Day following the last day of a Due Period, the Servicer shall deliver statements to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution DateLandlord:
(i) The Group 1 (I) In the event that Tenant’s Parent is a reporting company under the Exchange Act, on the earlier of five (5) Business Days following (x) each date specified in the Exchange Act and Group 2 Available Funds the SEC’s related rules and regulations (including any additional time permitted under Rule 12b-25 or any successor provision thereof) that the Tenant’s Parent is required to file SEC Reports (each Certificate Rate a “SEC Filing Deadline”) and (y) the date the Tenant’s Parent files its SEC Reports with the SEC or (II) in the event that Tenant’s Parent is not a reporting company under the Exchange Act, no later than five (5) Business Days prior to Landlord REIT’s applicable SEC requirements, if any, to file, or include in any of Landlord REIT’s SEC Reports, Tenant Parent’s Financial Statements: (A) Tenant’s Parent’s Financial Statements required to be included in such SEC Report or the SEC Report containing such Financial Statements; (B) a certificate, executed by a Responsible Officer of the Tenant or Tenant’s Parent certifying that no default has occurred under this Master Lease or, if such a default has occurred, specifying the nature and status of such default; and (C) (1) with respect to annual Financial Statements, a report with respect to Tenant’s Parent’s Financial Statements from Tenant’s Parent’s independent registered public accounting firm, which report shall not be subject to any qualification or exception expressing substantial doubt about the ability of the Tenant’s Parent and its subsidiaries to continue as a “going concern” or any exception as to the scope of such audit (excluding any qualification as to going concern relating to any debt maturities in the twelve month period following the date such report is delivered or any projected financial performance or covenant default in any Indebtedness or this Master Lease in such twelve month period) and that such Financial Statements have been prepared in accordance with GAAP and Tenant’s Parent’s accountants have examined such Financial Statements in accordance with the standards of the PCAOB (or generally accepted auditing standards, if not required to file SEC Reports at such time) and (2) with respect to quarterly Financial Statements, a certificate, executed by a Responsible Officer of the Tenant’s Parent, certifying that such Financial Statements fairly present, in all material respects, the financial position and results of operations of Tenant’s Parent and its Subsidiaries on a consolidated basis in accordance with GAAP as at such date and for such period (subject to normal year-end audit adjustments, the related Distribution Dateabsence of footnotes and other informational disclosures customarily omitted from interim financial statements). Financial statements required to be delivered pursuant to this Section 23.1(b)(i) will be deemed delivered to the extent such documents are included in materials filed with the SEC and shall be deemed to have been delivered on the date such documents are publicly available on the SEC’s website;
(ii) The Class Principal Balance Within seventy-five (75) days after the end of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans Tenant’s Fiscal Years (commencing with the Fiscal Year ending December 31, 2022), (a) a budget and projection by fiscal month for the Fiscal Year in which the budget is delivered, including projected Net Revenue and EBITDAR with respect to each Group as reported Facility, (b) a budget and projection by fiscal year for the second and third subsequent Fiscal Years, including projected Net Revenue and EBITDAR with respect to each Facility, and (c) a capital budget for each Facility for the Fiscal Year in which the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in budget is delivered and for the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Groupfollowing Fiscal Year;
(iii) The number Within thirty (30) days after the end of each calendar month, the following items as they pertain to each Facility: occupancy percentages, including average daily rate and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were revenue per available room for the subject month, the monthly and year-to-date operating statements prepared for each calendar period, noting net revenue, operating expenses and operating income, and other information reasonably necessary and sufficient to fairly represent the financial position and results of Principal Prepayments operations of each Facility and its respective Operating Subtenant during the Due Periodsuch calendar period;
(iv) The amount Within sixty (60) days after the expiration of all Curtailments any calendar quarter, Tenant shall deliver to Landlord a Financial Covenant compliance report, which report shall include an Officer’s Certificate in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in substantially the form attached hereto as Exhibit LH, certifying that the Financial Covenant is in compliance under Section 23.3 together with reasonable detail evidencing such compliance;
(ixv) The Remittance Amount (a) commercially reasonable efforts to deliver such additional financial information and projections as may be reasonably requested by Landlord, so long as any reasonable out-of-pocket cost of Tenant or its Related Persons is borne by Landlord, in connection with syndications, private placements or public offerings by Landlord of debt securities or loans or equity or hybrid securities and (b) such additional information, Tenant’s Parent Financial Statements if not otherwise provided pursuant to Section 23.1(b)(i), and unaudited quarterly financial information concerning the Leased Property, Tenant, and Tenant’s Parent as Landlord or its Affiliates may require for each Class of Class A and Class A-IO Certificates for the Distribution Date their filings with the components thereof stated separatelySEC under both the Securities Act and the Exchange Act, including, but not limited to SEC Reports and registration statements to be filed by Landlord or its Affiliates during the Term of this Master Lease, the Internal Revenue Service and any other federal, state or local regulatory agency with jurisdiction over Landlord or its Subsidiaries;
(xvi) The amount Prompt Notice to Landlord of any action, proposal or investigation by any agency or entity, or complaint to such agency or entity, (any of which is called a “Proceeding”), known to Tenant, the result of which Proceeding would reasonably be expected to be to revoke or suspend or terminate or modify in a way materially adverse to Tenant, or fail to renew or fully continue in effect, any license or certificate or operating authority pursuant to which Tenant carries on any material part of the Insured Amounts for each Group, if any, to be paid on Primary Intended Use of all or any portion of the Distribution DateLeased Property;
(xivii) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each GroupUpon request, each after giving effect to the distribution not to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee more than once per fiscal quarter, an updated rent roll for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalFacility; and
(xxvviii) Whether a Servicer Termination Delinquency Event Tenant further agrees to provide the financial and operational reports to be delivered to Landlord under this Master Lease in such electronic format(s) as may reasonably be required by Landlord from time to time in order to (i) facilitate Landlord’s internal financial and reporting database, and (ii) permit Landlord to calculate any rent, fee or a Servicer Termination Loss Event has occurred and specifying the details thereofother payments due under Ground Leases. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties also agrees that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and Landlord shall have no liability audit rights with respect to such information provided by the Servicer. To to the extent that there are inconsistencies between required to confirm Tenant’s compliance with the telecopy terms of the Trustee’s Remittance Report and the hard copy issued upon request this Master Lease (pursuant to the preceding paragraph) thereofincluding, the Servicer may rely upon the latter. In the case without limitation, calculation of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off DateNet Revenues).
Appears in 2 contracts
Sources: Master Lease (VICI Properties L.P.), Master Lease (MGM Resorts International)
Statements. Not later than 12:00 noon California time on the fourth Business Day following the last day of a Due Period, the Servicer All reasonable determinations by Landlord pursuant to this Article 6 shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof be presumed to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance correct. Until Tenant is advised of the Mortgage Loans adjustment in each Group as reported in the prior Trustee’s Remittance Report pursuant its obligation to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Grouppay Shared Expenses, if any, pursuant to the provisions of Section 6.2(d), Tenant’s monthly rental shall continue to be paid on at the Distribution Date;
then current rent (xiincluding all prior adjustments thereto pursuant to this Lease). Upon written notice to Landlord of not less than fifteen (15) The amount business days, Tenant shall have the right to be distributed review the documentation relied upon by Landlord relating to the Class R Certificateholders for computation of Shared Expenses, which review shall occur at the Distribution Date;
location specified in Section 1.11(b). In computing Shared Expenses, no cost or expense may be accounted more than once, any expenses which are paid by the proceeds of insurance shall be excluded and any expenses which are separately metered or billed directly to and separately paid by any other tenant shall be excluded. Within one hundred twenty (xii120) The Class Principal Balance days after receipt of each Class of Class A Certificates the subject Landlord’s Statement by Tenant and not less than thirty (30) days’ prior written notice to Landlord and provided Tenant is not in default hereunder, Tenant shall have the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect right to the distribution cause an audit to be made on of Landlord’s computation of Shared Expenses, at the Distribution Date;
(xiii) The weighted average remaining term to maturity location of the Mortgage Loans Building or such other location in each Group and the weighted average Loan Rate San Francisco County, California as may be designated by Landlord, at Tenant’s sole expense, not more frequently than once per calendar year. Such audit shall be conducted by an accountant which is a member of a nationally or regionally recognized accounting firm reasonably acceptable to Landlord; provided, however, in each Group;
(xiv) The Servicing Fee for each Group and the amount to no event shall any such audit be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amountconducted by a company, if anywhich as a fee, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as receives a percentage of the related Cut-Off Date Principal Balance;
any recovery. Tenant agrees that Tenant and such accountant shall keep all information obtained during any such audit strictly confidential; provided, however, Tenant may disclose such information (xxiiia) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicerextent necessary in any lawsuit requiring such disclosure, the Depositor(b) to its consultants, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg or (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]c) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Dateas required by law. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a A copy of the computer tape delivered audit report shall be furnished by Tenant to Landlord regardless as to whether the Servicer on audit discloses any overpayment or underpayment of Shared Expenses by Tenant. Tenant shall not be entitled to withhold or deduct any portion of Base Rent or Additional Rent during the Distribution Datependency of any such audit. Any errors disclosed by such audit shall be promptly corrected, provided that Landlord shall have the right to cause another independent audit to be made of such computations, and in the event of a disagreement between the auditors, the audit disclosing the least amount of deviation from Landlord’s original computations shall be conclusively deemed to be correct. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy provisions of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts this Section shall be expressed in a separate section the sole method to be used by Tenant to dispute the amount of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off DateShared Expenses payable by Tenant under this Lease, and Tenant waives any other rights or remedies relating thereto.
Appears in 2 contracts
Sources: Office Lease (Zendesk, Inc.), Office Lease (Zendesk, Inc.)
Statements. Not (a) No later than 12:00 noon California time on the fourth Business Day following the last day of a Due Periodeach Determination Date, the Servicer shall deliver to the Indenture Trustee a magnetic tape, computer tape containing disk or such other electronic format as shall be mutually agreeable to the Servicer and the Indenture Trustee providing such information set forth on Exhibit D as to each Mortgage Loan as of such regarding the Servicer's activities in servicing the Home Loans during the related Due Period and such other information as the Indenture Trustee shall may reasonably require. Not .
(1) Subject to the modification of the Servicer's Monthly Remittance report by the Servicer with the prior written consent of the Majority Securityholders and the Indenture Trustee, no later than 12:00 noon California time on the Determination each Payment Date, the Indenture Trustee shall deliver to the Servicer, the Depositor prepare and to the Certificate Insurer, by telecopy, with distribute a hard copy thereof to be delivered on the succeeding Distribution Date, a monthly statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) "Payment Statement", with respect to such Distribution Payment Date) to the Depositor, the Securityholders and each Rating Agency, stating the date of original issuance of the Securities (day, month and year), the name of the Issuer (i.e., "Master Financial Asset Securitization Trust 1998-2"), the series designation of the Securities (i.e., "Series 1998-2"), the date of this Agreement and the following information:
(i) The Group 1 the Available Collection Amount, the Regular Payment Amount and Group 2 Available Funds and each Certificate Rate the Excess Spread for the related Distribution Payment Date;
(ii) The the amount, if any, on deposit in the Pre-Funding Account and the Capitalized Interest Account on such Payment Date;
(iii) the Class Principal Balance of each or Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates Notes, and the Aggregate Pool Principal Balance as of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case last day of the first Determination related Due Period and after giving effect to payments and distributions made to the holders of such Notes on such Payment Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount the Class Pool Factor with respect to each Class of all Curtailments in each Group that were received during the Due PeriodNotes then outstanding;
(v) The the amount of principal portion of all Monthly Payments for each Group and interest received on the Home Loans during the related Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances Overcollateralization Deficiency Amount, and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The any amount to be distributed to the Class R Certificateholders Noteholders or the holders of the Residual Interest on such Payment Date;
(vii) the Servicing Compensation, the Indenture Trustee Fee, the Grantor Trustee Fee, the Owner Trustee Fee and, the Custodian Fee, if any, for such Payment Date;
(viii) the Distribution Overcollateralization Amount (or Undercollateralization Amount) on such Payment Date, the Overcollateralization Target Amount as of such Payment Date, the Net Loan Losses incurred during the related Due Period, the cumulative Net Loan Losses as of such Payment Date, the Allocable Loss Amount for such Payment Date and the application of the Allocable Loss Amount Priority for such Payment Date;
(ix) the weighted average maturity of the Home Loans and the weighted average Home Loan Interest Rate of the Home Loans;
(x) certain performance information, including, without limitation, delinquency and foreclosure information with respect to the Home Loans and 60-Day Delinquency Amounts (as defined in the definition of "Six-Month Rolling Delinquency Average" in Section 1.01 hereof), as set forth in the Servicer's Monthly Remittance Report, the Net Delinquency Calculation Amount and if an Overcollateralization Target Trigger Event has occurred and is continuing;
(xi) the amount of any Make Whole Servicing Fee to be paid to the Servicer on such Payment Date;
(xii) The Class the number of and aggregate Principal Balance of each Class of Class A Certificates all Home Loans in foreclosure proceedings and the Notional Balance percent of each Class the aggregate Principal Balances of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect such Home Loans to the distribution to be made aggregate Principal Balances of all Home Loans, all as of the close of business on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end last day of the related Due Period;
(xxixiii) The amount on deposit in each sub-account the number of and the aggregate Principal Balance of the Spread Account after Home Loans in bankruptcy proceedings and the Distribution Datepercent of the aggregate Principal Balances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the last day of the related Due Period;
(xxiixiv) The amount the number of losses experienced Foreclosure Properties, the aggregate Principal Balance of the related Home Loans, the book value of such Foreclosure Properties and the percent of the aggregate Principal Balances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the Mortgage Loans in each Group last day of the related Due Period;
(xv) during the preceding related Due Period (and cumulatively, from the Closing Date through the most current Due Period), the number and aggregate Principal Balance of Home Loans for each of the following: (A) that became Defaulted Home Loans, (B) that became Liquidated Home Loans, (C) that became Deleted Home Loans pursuant to Section 3.05 hereof as a result of such Deleted Home Loans being Defective Home Loans, and (D) that became Deleted Home loans pursuant to Section 3.05 hereof as a result of such Deleted Home Loans being Defaulted Home Loans or a Home Loan in default or imminent default, including the foregoing amounts by loan type (i.e., Combination Loans, Home Improvement Loans, Debt Consolidation Loans and Purchase or Refinance Loans);
(xvi) from the Closing Date through the most current Due Period, the cumulative aggregate Principal Balance of Home Loans for each of the following: (A) that became Liquidated Home Loans, and (B) that became Deleted Home Loans pursuant to Section 3.05 as a result of such Deleted Home Loans being in foreclosure, default or imminent default;
(xvii) the scheduled principal payments and the principal prepayments received with respect to the Home Loans during the Due Period;
(xviii) the number of and aggregate principal balance of all Home Loans (both during the related Due Period and in aggregate since the cumulative losses for Closing Date) repurchased or substituted pursuant to the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal BalanceGrantor Trust Agreement and Sections 3.05 or 4.09 hereof;
(xxiiixix) The Class A-2 Available Funds Carryforwardthe number of Home Loans remaining in the Home Loan Pool;
(xx) the amount remaining in the FHA Insurance Coverage Reserve Account with respect to all FHA Loans and the Related Series Loans, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The and the number and amount of Class Interest Carryover Shortfall relating claims for FHA Insurance filed and/or paid pursuant to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalSection 4.09; and
(xxvxxi) Whether a the Principal Balance of each FHA Loan with respect to which the Servicer Termination Delinquency Event or a has determined under the circumstances described in Section 4.09 that in good faith in accordance with customary mortgage loan servicing practices that all amounts which it expects to receive with respect to such FHA Loans have been received.
(2) No later than five (5) Business Days before each Payment Date, the Servicer Termination Loss Event has occurred shall prepare and specifying the details thereof. The Trustee shall make such report available distribute to the Servicer, the Depositor, the CertificateholdersGrantor Trustee and each Rating Agency a monthly statement that includes the cumulative aggregate Principal Balance of Home Loans that became Deleted Home Loans pursuant to Section 3.05 as a result of such Deleted Home Loans being Defective Home Loans, from the Closing Date through the most current Due Period.
(3) No later than seven days following a repurchase or substitution pursuant to the Grantor Trust Agreement or Sections 3.05 or 4.09 hereof, the Certificate Insurer, the Servicer shall notify each Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy Agency of the computer tape delivered aggregate principal balances of the Home Loans repurchased or substituted and (if applicable) the relevant Substitution Adjustment. All reports prepared by the Servicer on of the Distribution Date. The withdrawals from and deposits in the Collection Account will be based in whole or in part upon the information provided to the Indenture Trustee by the Servicer, and the Indenture Trustee may fully rely upon and shall have no liability with respect to such information provided by the Servicer.
(c) Within a reasonable period of time after the end of each calendar year, the Servicer shall prepare and direct the Indenture Trustee to distribute to each Person who at any time during the calendar year was a Noteholder, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (b)(iv) and (v) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Noteholder. To Such obligation of the Indenture Trustee shall be deemed to have been satisfied to the extent that there are inconsistencies between substantially comparable information shall be provided by the telecopy Servicer to the Noteholders pursuant to any requirements of the Trustee’s Remittance Report Code as are in force from time to time.
(d) On each Payment Date, the Indenture Trustee shall forward to The Depository Trust Company and to the hard holders of the Residual Interest a copy issued upon request of the Payment Statement in respect of such Payment Date and a statement setting forth the amounts actually distributed to such holders of the Residual Interest on such Payment Date, together with such other information as the Indenture Trustee deems necessary or appropriate.
(e) Within a reasonable period of time after the end of each calendar year, the Servicer shall prepare and direct the Indenture Trustee to distribute to each Person who at any time during the calendar year was a holder of a Residual Interest Instrument, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the preceding paragraphprevious paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a holder of Residual Interest. Such obligation of the Indenture Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the holder of Residual Interest pursuant to any requirements of the Code as are in force from time to time.
(f) thereofUpon reasonable advance notice in writing, the Servicer will provide to each Securityholder which is a savings and loan association, bank or insurance company access to information and documentation regarding the Home Loans sufficient to permit such Securityholder to comply with applicable regulations of the FDIC or other regulatory authorities with respect to investment in such Securities.
(g) The Servicer or its agent shall furnish to the Indenture Trustee, who in turn shall forward to each Noteholder and the holder of Residual Interest, during the term of this Agreement, such periodic, special, or other reports, including information tax returns or reports required with respect to the Notes and the Residual Interest, including Internal Revenue Service Forms 1099 (if necessary) and other similar reports that are required to be filed by the Servicer or its agent and the holder of Residual Interest, whether or not provided for herein, as shall be necessary, reasonable, or appropriate with respect to the Noteholders or the holders of the Residual Interest, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Noteholders or the holders of the Residual Interest may rely upon reasonably require.
(h) Reports and computer tapes furnished by the latter. In Servicer and the case of information furnished Indenture Trustee pursuant to subclauses (ii) and (ix) above, the amounts this Agreement shall be expressed deemed confidential and of proprietary nature, and shall not be copied or distributed except in a separate section connection with the purposes and requirements of this Agreement. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the report Transferor or the Servicer or for any other purpose except as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Dateset forth in this Agreement.
Appears in 1 contract
Sources: Sale and Servicing Agreement (Master Financial Asset Securitization Trust 1998-2)
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means and to the Certificate Insurer via e-mail at ▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇, a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) through (xxvii) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination 4:00 p.m., New York time, three Business Days prior to each Distribution Date, the Trustee shall deliver to the Servicer, the Depositor Certificate Insurer and to the Certificate Insurer, Seller by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a confirmation of the items in clause (i) below. Not later than each Distribution Date the Trustee shall prepare a statement (the “Trustee’s "Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 the Available Funds for each Certificate Group and each Class' Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest for each Loan Group paid as principal;
(vi) the Servicing Fee, the Premium Amount and the Reimbursement Amount;
(vii) the Loan Group Balance of each Loan Group and the Pool Balance, in each case as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof;
(xi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, Loan Group that were the subject of Principal Prepayments during the Due Period;
(ivxii) The the amount of all Curtailments in each Loan Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for in each Loan Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments in each Loan Group received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The for each Certificate Group, the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class BIO, Class P and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Loan Group and the weighted average Loan Rate in each Groupas of the first day of the month prior to the Distribution Date;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Loan Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) for each Loan Group, as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) any LIBOR Carryover distributed and any remaining LIBOR Carryover;
(xxiii) The Class A-2 Available Funds Carryforwardfor each Loan Group, if anythe number and aggregate Principal Balance of Mortgage Loans, after giving effect to all distributions on such Distribution Dateother than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period;
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class in Certificate Group F, other than the Class IOF Certificates, and each Class of Class A Subordinate Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to of Net Rate Cap Carryover remaining for each such Class and the amount allocable to interest and principalClass; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofamount of the Insured Payments, if any, to be made on such Distribution Date. The Trustee shall make available such report available to the Servicer, the Depositor, the CertificateholdersSeller, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date; provided, however, that the Trustee shall remove from the report the Premium Amount to be paid to the Certificate Insurer prior to the submission to Bloomberg and Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and the parties to this Agreement via the Trustee's internet website and its fax-on-demand service. The Trustee's fax-on-demand service may be accessed by calling (▇▇▇) ▇▇▇-▇▇▇▇. The Trustee's internet website shall initially be located at "▇▇▇.▇▇▇▇▇▇▇.▇▇▇". Assistance in using the website or the fax-on-demand service can be obtained by calling the Trustee's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Trustee or and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to the Certificate Insurer, the Seller and each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Funding Corp /De/)
Statements. Not later than 12:00 noon California time (a) On or before 1:00 p.m. New York Time on the fourth Business Day following the last day of a Due Period---------- each Determination Date, the Servicer shall deliver or cause a Subservicer to deliver to the Trustee Certificate Administrator by electronic transmission in a computer tape containing computer-readable format acceptable to the Certificate Administrator, monthly servicer accounting reports sufficient for the Certificate Administrator to perform its responsibilities pursuant to this Agreement. The monthly servicer accounting reports shall contain information set forth on Exhibit D as to each Mortgage Home Equity Loan as of the close of business immediately prior to such Due Period Determination Date and such other information as the Trustee Certificate Administrator shall reasonably require. Such information for each Home Equity Loan shall include among other items, but not be limited to, ending Stated Principal Balance, Advances (separately stated for principal and interest), Realized Losses, the date the last Scheduled Monthly Payment was paid, Principal Prepayments, Scheduled Monthly Payments of principal and interest, Mortgage Rates, and Prepayment Interest Shortfalls. Not later than 12:00 noon California New York time on two Business Days prior to the Determination Distribution Date, the Trustee Certificate Administrator shall prepare and deliver to the Servicer, the Depositor and to the Certificate Insurer, Trustee by telecopy, with a and hard copy thereof to be delivered on the succeeding Distribution Datecopy, a statement (the “Trustee’s "Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:.
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the amount of the related Distribution Datedistribution to Holders of the Class A Certificates allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, and (B) the aggregate of all scheduled payments of principal included therein;
(ii) The Class Principal Balance the amount of each Class such distribution to Holders of the Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant allocable to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Groupinterest;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth any Insured Amount included in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be amounts distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class Holders of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiviv) The amount the Carry-Forward Amount and any Basis Risk Carryover Amount;
(v) the Class Certificate Principal Balance of Class Interest Carryover Shortfall relating to each Class of the Class A Certificates after giving effect to the distribution of principal made, and the principal portion of Realized Losses, if any, allocated with respect to such Distribution Date;
(vi) the Pool Stated Principal Balance for the following Distribution Date;
(vii) the Required Subordinated Amount and the Subordinated Amount as of such Distribution Date;
(viii) the Pass-Through Rate for the Class A-IO Certificates, separately stating A Certificates for such Distribution Date;
(ix) the amount that is allocable of Advances by the Servicer or the Trustee included in the distribution to the Certificates on such Distribution Date;
(x) the number of Home Equity Loans and the weighted average of the Mortgage Rates for the Home Equity Loans outstanding as of the preceding Determination Date;
(xi) the number and aggregate principal amounts of delinquent Home Equity Loans (A) delinquent (exclusive of Home Equity Loans in foreclosure) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 plus days in each case as of the close of business on the Business Day preceding the Determination Date in the month in which such Class Distribution Date occurs;
(xii) the total number and aggregate principal balance of any Home Equity Loans in foreclosure and any REO Properties as of the close of business on the Business Day preceding the Determination Date in the month in which such Distribution Date occurs;
(xiii) the aggregate of all Realized Losses, relating to Liquidated Loans;
(xiv) the amount of any Subordination Deficiency Amount after giving effect to the distribution of principal on such Distribution Date;
(xv) the unpaid principal balance of any Home Equity Loan as to which the Servicer has determined not to foreclose because it believes the related Mortgaged Property may be contaminated with or affected by hazardous wastes or hazardous substances;
(xvi) the amount of the Servicing Fee and the Administration Fee paid (and not previously reported) with respect to the related Distribution Date and the amount allocable to interest and principalby which the Servicing Fee has been reduced by any Prepayment Interest Shortfalls for the related Distribution Date; and
(xxvxvii) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred the number and specifying Stated Principal Balance of the details thereofHome Equity Loans which have been modified pursuant to Section 3.01(f) during the related Due Period and in the aggregate since the Closing Date. The Trustee shall make forward such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Certificateholders and the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee and the Certificate Administrator may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer Trustee may rely upon the latter. In the case of information furnished pursuant to subclauses (iii) and (ixii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Class A Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) and (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Residual Certificateholders a copy of the reports forwarded to the Class A Certificateholders in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Residual Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special, or other reports or information, whether or not provided for herein, as shall be necessary, reasonable, or appropriate with respect to the Certificateholder, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided, that the Servicer and the -------- Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer tapes furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies, the Depositor or the Certificate Insurer. No Person entitled to receive copies of such reports or tapes or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Norwest Asset Acceptance Corp)
Statements. Not (a) Based solely upon the information provided to it by the Servicers pursuant to Section 7.08(d) hereof, not later than 12:00 noon California time on the fourth Business Day following the last day of a Due Period, the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Distribution Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website initially located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇.▇▇.▇▇▇” ▇ to the Depositor, each Owner, the Servicers, the Certificate Insurer and the Rating Agencies a statement setting forth the following information:
(i) the aggregate amount on deposit in the Certificate Account on such Distribution Date;
(ii) the Accrued Certificate Interest, Interest Shortfall Carryforward Amount, if any, the Basis Risk Carry Forward Amount, if any, and the Principal Distribution Amount, with respect to each Class individually, all Classes of the Offered Certificates in the aggregate, all Classes of Class A Certificates in the aggregate and all Classes of Class B Certificates in the aggregate;
(iii) the Pass-Through Rate for each Class of Certificates applicable to the related Accrual Period and LIBOR applicable to the Certificates with respect to such Distribution Date;
(iv) the application of the amounts described in clause (ii) above to the allocation and distribution of payment to the holders of Class A, Class M-1 and Class B Certificates and the amount of Prepayment Penalties attributable to the Household Mortgage Loans distributable to the Class P Certificates, on the next Distribution Date in accordance with this Agreement;
(v) the Certificate Balance of each Class of Class A Certificates and Class B Certificates and the Class M-1 Certificates, the aggregate amount of the interest and principal of each Class of Offered Certificates to be paid on such Distribution Date and the remaining Certificate Balance of each Class of Offered Certificates following any such payment;
(vi) the amount of Insured Payments, if any;
(vii) the amount, if any, of any Realized Losses for the related Collection Period in the aggregate, for each Class of Offered Certificates and the amount of Cumulative Realized Losses as of the last day of the related Collection Period;
(viii) whether a Fairbanks Termination Trigger Event, Wilshire Termination Trigger Event or a GreenPoint Termination Trigger Event has occurred;
(ix) the amount of the distribution with respect to each Class of Offered Certificates (based on a Certificate in the original principal amount of $1,000);
(x) the amount of such distribution allocable to principal of the Mortgage Loans, separately identifying the aggregate amount of any Principal Prepayments, Loan Purchase Price amounts or other recoveries of principal included therein;
(xi) the amount of such distribution allocable to interest on the Mortgage Loans (based on a Certificate in the original principal amount of $1,000);
(xii) the principal amount, if any, of each Class of the Offered Certificates (based on a Certificate in the original principal amount of $1,000) which will be outstanding after giving effect to any payment of principal on such Distribution Date. Assistance in using ;
(xiii) the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In additionaggregate Pool Balance of all Mortgage Loans, together with such report, the Trustee shall forward to Bloomberg a copy as of the computer tape delivered last day of the related Collection Period;
(xiv) based upon information furnished by the Servicer Depositor such information as may be required by Section 6049(d)(7)(C) of the Code to assist the Certificateholders in computing their market discount;
(xv) the weighted average interest rate of the Mortgage Loans;
(xvi) the weighted average remaining term of the Mortgage Loans;
(xvii) the number and Stated Principal Balance of the Mortgage Loans that were 60 days or more Delinquent for each of the preceding three months as of the close of business on the last Business Day of the calendar month next preceding the Distribution Date. The Trustee ;
(xviii) such other information as the Depositor may fully rely upon and shall have no liability reasonably request with respect to information provided by Mortgage Loans that are Delinquent;
(xix) the Servicer. To Stated Principal Balance of the extent largest Mortgage Loans outstanding;
(xx) the number, aggregate Stated Principal Balances and percentage of Mortgage Loans that there are: (A) 30-59 days Delinquent, (B) 60-89 days Delinquent and (C) 90-119 days Delinquent, (D) 120-149 days Delinquent, (E) 150-179 days Delinquent and (F) 180 or more days Delinquent, as of the close of business on the last Business Day of the calendar month next preceding the Distribution Date and the aggregate number and aggregate Stated Principal Balance of such Mortgage Loans;
(xxi) the status, the number, and the Stated Principal Balances of all Mortgage Loans that are inconsistencies between in foreclosure proceedings as of the telecopy close of business on the last Business Day of the calendar month next preceding such Distribution Date;
(xxii) the number of Mortgagors and the Stated Principal Balances of the related Mortgages for all Mortgage Loans involved in bankruptcy proceedings and whether such Mortgage Loans are (A) 30-59 days Delinquent, (B) 60-89 days Delinquent and (C) 90-119 days Delinquent, (D) 120-149 days Delinquent, (E) 150-179 days Delinquent and (F) 180 or more days Delinquent, as of the close of business on the last Business Day of the calendar month next preceding such Distribution Date;
(xxiii) the number of Mortgagors and the Stated Principal Balances of the related Mortgages for all Mortgage Loans involved in foreclosure proceedings and whether such Mortgage Loans are (A) 30-59 days Delinquent, (B) 60-89 days Delinquent and (C) 90-119 days Delinquent, (D) 120-149 days Delinquent, (E) 150-179 days Delinquent and (F) 180 or more days Delinquent, as of the close of business on the last Business Day of the calendar month next preceding such Distribution Date;
(xxiv) the existence and status of any Mortgaged Properties for all Mortgage Loans as to which title has been taken in the name of, or on behalf of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off close of business of the last Business Day of the month next preceding the Distribution Date.;
(xxv) the book value of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for all Mortgage Loans as of the close of business on the last Business Day of the calendar month next preceding the Distribution Date;
(xxvi) the number of Mortgage Loans;
(xxvii) identifying the aggregate amount received from:
a. Curtailments;
b. voluntary payoffs;
c. Involuntary Payoffs (the amount of Net Liquidation Proceeds applicable to the unpaid principal balance from the loan); and
d. Mortgage Loans purchased from the Trust; as of the close of business on the last Business Day of the related Collection Period;
(xxviii) the number and Stated Principal Balance of all Mortgage Loans that are subject to loss mitigation as of the close of business on the last Business Day of the calendar month next preceding the Distribution Date;
(xxix) the number and Stated Principal Balance of Mortgage Loans that are being contested because of Section 32 of the Truth in Lending Act;
(xxx) the amount of current and cumulative Realized Losses (separately identifying principal and interest losses) from following resolution types:
a. REO Property sold;
b. short sale;
c. deed in lieu;
d. no equity second mortgages; and
e. other; as of the close of business on the last Business Day of the related Collection Period;
(xxxi) the number and Pool Balance with respect to each product type of all Mortgage Loans in Chapter 13 of the United States Bankruptcy Code ("CHAPTER 13 LOANS") separately identifying:
a. those Chapter 13 Loans that are currently meeting their payment plan;
b. those Chapter 13 Loans that are 1 to 2 payments behind their payment plan;
c. those Chapter 13 Loans that are 2 to 3 payments behind their payment plan;
Appears in 1 contract
Sources: Trust and Servicing Agreement (Gs Mortgage Sec Corp Mort Pass THR Cert Ser 2003-1)
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means and to the Certificate Insurer via e-mail at ▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇, a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) through (xxvii) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination 4:00 p.m., New York time, three Business Days prior to each Distribution Date, the Trustee shall deliver to the Servicer, the Depositor Certificate Insurer and to the Certificate Insurer, Seller by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a confirmation of the items in clause (i) below. Not later than each Distribution Date the Trustee shall prepare a statement (the “Trustee’s "Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 the Available Funds for each Certificate Group and each Class' Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest for each Loan Group paid as principal;
(vi) the Servicing Fee, the Premium Amount and the Reimbursement Amount;
(vii) the Loan Group Balance of each Loan Group and the Pool Balance, in each case as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof;
(xi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, Loan Group that were the subject of Principal Prepayments during the Due Period;
(ivxii) The the amount of all Curtailments in each Loan Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for in each Loan Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments in each Loan Group received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The for each Certificate Group, the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Loan Group and the weighted average Loan Rate in each Groupas of the first day of the month prior to the Distribution Date;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Loan Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) for each Loan Group, as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) any LIBOR Carryover distributed and any remaining LIBOR Carryover;
(xxiii) The Class A-2 Available Funds Carryforwardfor each Loan Group, if anythe number and aggregate Principal Balance of Mortgage Loans, after giving effect to all distributions on such Distribution Dateother than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period;
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class in Certificate Group F, other than the Class IOF Certificates, and each Class of Class A Subordinate Certificates and the Class Aamount of Net Rate Cap Carryover remaining for each such Class;
(xxv) for each Pre-IO CertificatesFunding Distribution Date, separately stating the amount that is allocable to remaining in the Initial Coverage Account;
(xxvi) for each such Class and Pre-Funding Distribution Date, the amount allocable to interest and principalremaining Allocated Pre-Funded Amount; and
(xxvxxvii) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofamount of the Insured Payments, if any, to be made on such Distribution Date. The Trustee shall make available such report available to the Servicer, the Depositor, the CertificateholdersSeller, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date; provided, however, that the Trustee shall remove from the report the Premium Amount to be paid to the Certificate Insurer prior to the submission to Bloomberg and Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and the parties to this Agreement via the Trustee's internet website and its fax-on-demand service. The Trustee's fax-on-demand service may be accessed by calling (▇▇▇) ▇▇▇-▇▇▇▇. The Trustee's internet website shall initially be located at "▇▇▇.▇▇▇▇▇▇▇.▇▇▇". Assistance in using the website or the fax-on-demand service can be obtained by calling the Trustee's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Fund Hm Equ Ln 2000-2 Hm Equ Ln Ass BKD CRT Ser 2000-2)
Statements. Not (a) Two Business Days prior to each Distribution Date, the Securities Administrator shall make available to the Securities Administrator, and concurrently with each distribution to Certificateholders, the Securities Administrator shall make available to each Certificateholder, the Seller, the Master Servicer, the Trustee, the Yield Maintenance Provider and the Rating Agencies, a statement based, as applicable, on loan-level information provided to it by the Master Servicer and the Servicers, no later than 12:00 noon California time on the fourth third Business Day prior to the related Distribution Date, (the “Distribution Date Statement”) as to the distributions to be made or made, as applicable, on such Distribution Date. Information in the Distribution Date Statement relating to or based on amounts available in the Yield Maintenance Account shall be based on information provided by the Yield Maintenance Provider regarding any Yield Maintenance Amounts required to be paid by the Yield Maintenance Provider for the related Distribution Date pursuant to the Yield Maintenance Agreements. The Distribution Date Statement shall include the following:
(i) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to principal;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Class of Certificates allocable to interest;
(iii) the related Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage with respect to each Loan Subgroup, in the case of Loan Group 1, or with respect to Loan Group 2, in each case for the following Distribution Date;
(iv) the last day aggregate amount of a Due Period, servicing compensation received by the Servicer shall deliver to during the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such related Due Period and such other customary information as the Trustee shall Securities Administrator deems necessary or desirable, or which a Certificateholder reasonably require. Not later than 12:00 noon California time on the Determination Daterequests, the Trustee shall deliver to the Servicer, the Depositor and enable Certificateholders to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Dateprepare their tax returns;
(iiv) The Class Principal Balance the amount of Advances for each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, orLoan Subgroup, in the case of Loan Group 1, or for Loan Group 2 for the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates related Due Period and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Periodunreimbursed Advances;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of Loan Subgroup Balance for Loan Group 1, the Monthly Advances Loan Group Balance for Loan Group 2 and the Compensating Interest payment to be made on the Determination Date related Net WAC for each Group;
(viii) The delinquency and foreclosure information set forth Loan Subgroup, in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class case of Class A and Class A-IO Certificates for the Distribution Date Loan Group 1, or with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Grouprespect to Loan Group 2, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and Close of Business at the end of the related Due Period;
(xxivii) The amount on deposit in for each sub-account Loan Subgroup of Loan Group 1, the aggregate Principal Balance of the Spread Account after Six-Month LIBOR Indexed, One-Year LIBOR Indexed and One-Year CMT Indexed Mortgage Loans at the Distribution Close of Business at the end of the related Due Period;
(viii) for Loan Group 2, the aggregate Principal Balance of the Three-Month LIBOR Indexed, One-Year LIBOR Indexed and One-Month MTA Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(ix) for each Loan Subgroup, in the case of Loan Group 1, or with respect to Loan Group 2, the amount of fees, expenses or indemnification amounts paid by the Trust Fund with an identification of the general purpose of such amounts and the party receiving such amounts;
(x) for each Loan Subgroup, in the case of Loan Group 1, or with respect to Loan Group 2, the number, weighted average remaining term to maturity, weighted average life and weighted average Loan Rate of the related Mortgage Loans as of the related Due Date;
(xxiixi) The amount for each Loan Subgroup, in the case of losses experienced Loan Group 1, or with respect to Loan Group 2, the number and aggregate unpaid principal balance of the related Mortgage Loans, (a) 30 to 59 days Delinquent, (b) 60 to 89 days Delinquent, (c) 90 or more days Delinquent, (d) as to which foreclosure proceedings have been commenced and (e) in bankruptcy, in each case as of the close of business on the Mortgage Loans last day of the preceding calendar month, in each case, using the MBA method;
(xii) for each Loan Subgroup, in the case of Loan Group during 1, or with respect to Loan Group 2, the book value of any REO Property as of the Close of Business on the last Business Day of the calendar month preceding the Distribution Date, and, cumulatively, the total number and cumulative principal balance of all REO Properties in each Loan Group or Loan Subgroup, as applicable, as of the Close of Business of the last day of the preceding Due Period;
(xiii) for each Loan Subgroup, in the case of Loan Group 1, or with respect to Loan Group 2, the aggregate amount of Principal Prepayments with respect to each Loan Group or Loan Subgroup, as applicable, made during the related Prepayment Period;
(xiv) for each Loan Subgroup, in the case of Loan Group 1, or with respect to Loan Group 2, the aggregate amount of Realized Losses incurred during the related Due Period for each Loan Group or Loan Subgroup, as applicable, and the cumulative losses for amount of Realized Losses and the Mortgage Loans in each Group as a percentage amount of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds CarryforwardRealized Losses, if any, allocated to each Class of Certificates;
(xv) the Class Principal Balance or Class Notional Balance, as applicable, of each Class of Certificates and the Apportioned Principal Balances of the related Subordinate Certificates after giving effect to all any distributions made thereon, on such Distribution Date;
(xvi) for each Loan Subgroup, in the case of Loan Group 1, or with respect to Loan Group 2, the Monthly Interest Distributable Amount and the Interest Distributable Amount in respect of each related Class of Certificates, for such Distribution Date and the respective portions thereof, if any, remaining unpaid following the distributions made in respect of such Certificates on such Distribution Date;
(xvii) for each Loan Subgroup, in the case of Loan Group 1, or with respect to Loan Group 2, the aggregate amount of any Net Interest Shortfalls and the Unpaid Interest Shortfall Amount for such Distribution Date;
(xviii) for each Loan Subgroup, in the case of Loan Group 1, or with respect to Loan Group 2, the related Available Funds;
(xix) for each Loan Subgroup, in the case of Loan Group 1, or with respect to Loan Group 2, the Pass-Through Rate and Adjusted Cap Rate for each Class of Certificates for such Distribution Date;
(xx) for each Loan Subgroup, in the case of Loan Group 1, or with respect to Loan Group 2, the aggregate Principal Balance of Mortgage Loans purchased hereunder by the Seller during the related Due Period, and indicating the relevant section of the Mortgage Loan Purchase Agreement, or the Section of this Agreement, as applicable, requiring or allowing the purchase of each such Mortgage Loan;
(xxi) for each Loan Subgroup, in the case of Loan Group 1, or with respect to Loan Group 2, the amount of any Principal Deficiency Amounts or Accrued Interest Amounts paid to an Undercollateralized Group or amounts paid pursuant to Section 5.01(f)(i);
(xxii) for each Loan Subgroup, in the case of Loan Group 1, or with respect to Loan Group 2, current Recoveries allocable thereto;
(xxiii) for each Loan Subgroup, in the case of Loan Group 1, or with respect to Loan Group 2, cumulative Recoveries allocable thereto;
(xxiv) for each Loan Subgroup, in the case of Loan Group 1, or with respect to Loan Group 2, the amount of any Basis Risk Shortfall, if any, and the related accrued interest thereon;
(xxv) for each Loan Subgroup, in the case of Loan Group 1, or with respect to Loan Group 2, the amount of Deferred Interest and Net Deferred Interest, if any, for such Loan Group or Loan Subgroup, as applicable,;
(xxvi) payments made under the Yield Maintenance Agreements, if any;
(xxvii) the amount of Net Deferred Interest, if any, added to the Class Principal Balance of the related Certificates in Loan Group 2; and
(xxviii) The amount of any Class Interest Carryover Shortfall relating 1-P Distributable Amount or Class 2-P Distributable Amount. The Securities Administrator shall make the Distribution Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to each Class of Class A Certificates Certificateholders and the Class A-IO Certificates, separately stating other parties to this Agreement via the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofSecurities Administrator’s internet website. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the TrusteeSecurities Administrator’s investor relations customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method option are entitled to have a paper copy mailed to them via first class mail by calling the investor relations customer service desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and Securities Administrator shall have no liability with respect the right to information provided by change the Servicer. To way such reports are distributed in order to make such distribution more convenient and/or more accessible to the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report parties, and the hard copy issued upon request (pursuant Securities Administrator shall provide timely and adequate notification to the preceding paragraph) thereof, the Servicer may rely upon the latterall parties regarding any such change. In the case of information furnished pursuant to subclauses (iii) and (ixii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date. In addition to the information listed above, such Distribution Date Statement shall also include the information required by Item 1121 (§ 229.1121) of Regulation AB.
(b) Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall, upon written request, furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i), (ii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder and such other customary information which a Certificateholder reasonably requests to prepare its tax returns. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Securities Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Securities Administrator shall supply an electronic tape to Bloomberg Financial Markets, Inc. in a format acceptable to Bloomberg Financial Markets, Inc. on a monthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions in a format acceptable to Loan Performance and Intex Solutions on a monthly basis.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (MortgageIT Mortgage Loan Trust 2006-1)
Statements. Not Each month for so long as a Class of Auction Rate Certificates is Outstanding, not later than 12:00 noon California New York time on the fourth Business Day following the last day of a Due PeriodAuction Reporting Date, the Servicer shall deliver to the Trustee a computer tape containing Certificate Insurer and the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate InsurerTrustee, by telecopy, the receipt and legibility of which shall be confirmed telephonically, with a hard copy thereof to be delivered on the succeeding Distribution Business Day following the Determination Date, a statement certificate signed by a Servicing Officer stating the date (day, month and year), the “Trustee’s Series number of the Certificates, the date of this Agreement, and the amount to be distributed on the upcoming Remittance Report”) containing Date to each Class of Auction Rate Certificates as a payment of principal. Each month, not later than 12:00 noon New York time on the information set forth below (Determination Date, the Servicer shall deliver to the extent any such information Certificate Insurer and to the Trustee, by telecopy, for distribution to the Certificateholders, the receipt and legibility of which shall be confirmed telephonically, with hard copy thereof and the Servicer's Monthly Computer Tape in the form attached hereto as Exhibit R (both in hard copy and in computer tape form) to be delivered on the Business Day following the Determination Date, a certificate signed by a Servicing Officer (a "Servicer's Certificate") stating the Servicer pursuant to date (day, month and year), the first sentence Series number of the Certificates, the date of this Section 5.01(a) has been so delivered) with respect to such Distribution DateAgreement, and the following:
(i) The Group 1 and Group 2 the Pool Available Funds and Remittance Amounts for each Certificate Rate Pool for the related Distribution Remittance Date;
(ii) The the Class Principal Balance of Balances for each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report Servicer's Certificate pursuant to subclause (xiixv) below, or, in the case of the first Determination Date, the Original Class Certificate Principal Balance of for each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each GroupCertificates;
(iii) The the Pool Principal Distribution Amounts for each Pool for the related Remittance Date, in the aggregate and listed separately for the portions relating to each Class of Class A Certificates;
(iv) the total amount of any Insured Payments included in the Pool Available Remittance Amount for each Pool for the related Remittance Date;
(v) the Subordinated Amount and Specified Subordinated Amount for the related Remittance Date, listed separately for each Pool;
(vi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that Pool which were the subject of Principal Prepayments during the Due Period;
(ivvii) The the amount of all Curtailments in each Group that which were received during the Due Period, stated separately for each Pool;
(vviii) The principal portion the aggregate amount of all Excess Payments and the amounts of Monthly Payments for each Group in respect of principal received during the Due Period, stated separately for each Pool;
(viix) The the amount of interest received on the Mortgage Loans in Loans, stated separately for each GroupPool;
(viix) The the amount of the Monthly Advances to be made on the Determination Date, the portion of the Monthly Advances to be deposited in the Certificate Accounts pursuant to Section 6.01(a)(ii), and the Compensating Interest payment to be made on the Determination Date Date, in each case stated separately for each GroupPool;
(viiixi) The the delinquency and foreclosure information set forth in the form attached hereto as Exhibit LO, stated separately for each Pool;
(ixxii) The the amount of any Realized Losses incurred during the related Due Period, stated separately for each Pool;
(xiii) the Pool Remittance Amount Amounts for each Pool for the Remittance Date, in the aggregate and by component and listed separately for the portions relating to each Class of Class A Certificates in the related Pool and, with respect to the Auction Rate Certificates, the amount otherwise required to be distributed thereon with respect to principal and Class A-IO Certificates retained in the Certificate Account for the Distribution Date with the components thereof stated separatelyPool II pursuant to Section 6.08 (f);
(xxiv) The amount of the Insured Reimbursable Amounts for each Group, if any, and the Class R Remittance Amount payable pursuant to be paid on Section 6.08(d)(iii) and (v) with respect to the Distribution Remittance Date;
(xixv) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of for each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of for each Group, each Pool after giving effect to the distribution to be made on the Distribution Remittance Date and after allocation of Realized Losses made on such Remittance Date;
(xiiixvi) The weighted average remaining term the Monthly Excess Spread Percentage, the Excess Spread, and the Remainder Excess Spread Amount allocable to maturity of the Mortgage Loans Reimbursable Amounts and Class R Certificateholders pursuant to Section 5.04(f) (in each Group case, in the aggregate and stated separately for each Pool);
(xvii) the Cumulative Realized Losses, stated separately for each Pool, with respect to the Remittance Date;
(xviii) the weighted average Loan Rate in maturity and weighted average Interest Rate, stated separately for each GroupPool;
(xivxix) The the Servicing Fee Fees, the Contingency Fees, the Auction Agent Fees and amounts to be deposited to the Expense Accounts, the Insurance Accounts and the FHA Premium Account, in each case, as applicable, stated separately for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01Pool;
(xvxx) The the amount of all payments or and reimbursements to the Servicer pursuant to Section 3.035.04(b), (c), (d)(ii), (e) and (f)(i), stated separately with respect to each Pool;
(xvixxi) The the Class Pool Factor for each Group Class determined using the balances in subclause (iixv) above;
(xviixxii) The amountthe weighted average Mortgage Interest Rate and Adjusted Mortgage Interest Rate of the Mortgage Loans for each Pool and the weighted average Class Adjusted Loan Remittance Rates for each Pool, in each case for the related Remittance Date, and the weighted average Mortgage Interest Rate for the prior three month period;
(xxiii) the Class A-5, Class A-8, Class A-9 and Class A-10 Remittance Rates with respect to the Remittance Date and if any of the Class A-5, Class A-8, Class A-9 or Class A-10 Remittance Rates was based on the applicable Net Funds Cap for the related Pool, what it would have been if based on LIBOR plus the applicable Margin or the Auction Rate, as the case may be;
(xxiv) the rate of LIBOR and the Auction Rate with respect to the Remittance Date;
(xxv) the Net Funds Cap for Pool I, Pool II and Pool III with respect to the Remittance Date;
(xxvi) if the Remittance Rate for a Class of Pool II Certificates for such Remittance Date is based on the Net Funds Cap, the amount of any Certificateholders' Interest Carryover for such Class for such Remittance Date;
(xxvii) the amount of the distribution, if any, transferred allocable to Certificateholders' Interest Carryover and the amount of any Certificateholders' Interest Carryover for all prior Remittance Dates after giving effect to such distribution (in each case, stated separately by Class and in the aggregate);
(xxviii) if the Remittance Rate for the Class A-5 Certificates for such Remittance Date is based on the Net Funds Cap, the amount of any Class A-5 Interest Shortfall for such Class for such Remittance Date;
(xxix) The amount to be deposited into the FHA Premium Account on the related Remittance Date and the amount reimbursable to the Servicer and/or the Certificate Insurer from the Simple Interest Excess Account to the Distribution FHA Premium Account pursuant to Section 5.03 6.06(b)(i);
(xxx) The amount of FHA Payments and from Related Payments received during the Spread Account related Due Period;
(xxxi) The Reserve Amount for the related Remittance Date;
(xxxii) Claims filed during the Due Period;
(xxxiii) Claims paid during the Due Period;
(xxxiv) Claims denied by the FHA during the Due Period;
(xxxv) Claims pending payment by the FHA during the Due Period; and
(xxxvi) Such other information as the Certificate Insurer and the Certificateholders may reasonably require. The Trustee shall forward such report to the Distribution Certificateholders and the Certificate Insurer on the Remittance Date, together with a separate report indicating the amount of funds deposited in each Certificate Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess 6.01(a)(iv); and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the SellerRepresentative, as appropriate, pursuant to Section 5.01(a)(ivSections 6.03(c)(i), 6.03(c)(ii), 6.04(b)(iv) and 6.08(d)(iii) (all reports prepared by the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number Trustee of Mortgage Loans such withdrawals and deposits will be based in each Group outstanding at whole or in part upon the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available information provided to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on or the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the ServicerClaims Administrator). To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report Servicer's Certificate and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may Trustee shall be entitled to rely upon the lattertelecopy. In the case of information furnished pursuant to subclauses (ii), (vi), (vii), (viii), (xiii), (xv) and (ix) xxii), above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each per $1,000 (or in the case of the Auction Rate Certificates, per $25,000) original dollar amount as of the Cut-Off Date. Additionally, on the Special Remittance Date the Trustee shall, based upon information received from the Servicer, forward to the Certificateholders, the Certificate Insurer and the Rating Agencies, a report setting forth the amount of principal and interest, if any, being paid to each Class of Class A Certificates on the Special Remittance Date.
(a) Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish to the Trustee for distribution to each Person who at any time during the calendar year was a Class A Certificateholder such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (ix), (xiii), (xix) and (xxxvi), above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time are in force.
(b) On each Remittance Date and the Special Remittance Date, the Trustee shall forward to the Class R Certificateholders a copy of the report forwarded to the Certificateholders of each Pool in respect of such Remittance Date or the Special Remittance Date, as the case may be, and a statement setting forth the amounts actually distributed to the Class R Certificateholders, on such Remittance Date together with such other information as the Servicer provides and deems necessary or appropriate.
(c) Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish to the Trustee for distribution to each Person who at any time during the calendar year was a Class R Certificateholder such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time in force.
(d) Upon reasonable advance notice in writing, the Servicer will provide to each Class A Certificateholder which is a savings and loan association, bank or insurance company certain reports and access to information and documentation regarding the Mortgage Loans sufficient to permit such Class A Certificateholder to comply with applicable regulations of the Office of Thrift Supervision or other regulatory authorities with respect to investment in the Class A Certificates.
(e) The Servicer shall furnish to each Certificateholder and the Certificate Insurer, during the term of this Agreement, such periodic, special, or other reports or information, whether or not provided for herein, as shall be necessary, reasonable, or appropriate with respect to the Certificateholder or the Certificate Insurer, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Certificateholder or the Certificate Insurer may reasonably require; provided, that the Servicer shall be entitled to be reimbursed by such Certificateholder or the Certificate Insurer for the Servicer's actual expenses incurred in providing such reports if such reports are not producible in the ordinary course of the Servicer's business.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Money Store Trust 1996-C)
Statements. Not later than 12:00 noon California Chicago, Illinois time on the fourth Business Day following the last day of a Due Periodpreceding each Determination Date, the Servicer shall deliver to the Trustee and the Certificate Insurer a computer tape or written report containing the information set forth on Exhibit D R as to each Mortgage Loan as of such with respect to the related Due Period and such other information with respect to the Mortgage Loans in the aggregate as the Trustee shall reasonably require. Not later than 12:00 noon California Chicago, Illinois time on the Determination two Business Days preceding each Payment Date, the Trustee shall deliver to the Depositors, any Paying Agent, the Servicer, the Depositor and to the Certificate Insurer, ▇▇▇▇▇'▇ and S&P by telecopy, a statement (the "Remittance Report") containing the information set forth below with respect to the succeeding Payment Date, with a hard copy thereof to be delivered on the immediately succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution DateBusiness Day:
(i) The the Available Payment Amount attributable to each Mortgage Loan Group 1 and Group 2 any portion of the Available Funds and each Certificate Rate for Payment Amount that has been deposited in the related Distribution DateCollection Account but may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to ▇▇▇▇▇▇▇ ▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Bankruptcy Code;
(ii) The the Class A-1 Principal Balance, the Class A-2 Principal Balance, the Class A-3 Principal Balance, the Class A-4 Principal Balance, the Class A-5 Principal Balance, the Class A-6 Principal Balance, the Adjustable Rate Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of the with respect to each Mortgage Loans in each Group Loan Group, as reported in the prior Trustee’s Remittance Report provided pursuant to subclause (xiixiii) belowbelow for the immediately preceding Payment Date, or, in the case of the first Determination Date, the Original Class Certificate A-1 Principal Balance, the Original Class A-2 Principal Balance, the Original Class A-3 Principal Balance, the Original Class A-4 Principal Balance, the Original Class A-6 Principal Balance, the Original Class A-7 Principal Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Pool Principal Balance of the with respect to each Mortgage Loans in each Loan Group;
(iii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that which were the subject of Principal Prepayments during the related Due Period;
(iv) The with respect to the Mortgage Pool and each Mortgage Loan Group, the amount of all Curtailments in each Group that which were received during the related Due Period;
(v) The with respect to the Mortgage Pool and each Mortgage Loan Group, the aggregate amount of principal portion of all Monthly Payments for each Group received during the related Due Period;
(vi) The with respect to the Mortgage Pool and each Mortgage Loan Group, the amount of interest received on the Mortgage Loans in each Groupduring the related Due Period;
(vii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the aggregate amount of the Monthly Advances made and the Compensating Interest payment recovered with respect to be made on the Determination Date for each Groupsuch Payment Date;
(viii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the delinquency and foreclosure information set forth in the form attached hereto as Exhibit LH and the amount of Mortgage Loan Losses during the related Due Period;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for A-1 Principal Balance, the Distribution Date;
(xii) The Class A-2 Principal Balance, the Class A-3 Principal Balance, the Class A-4 Principal Balance, the Class A-5 Principal Balance, the Class A-6 Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Adjustable Rate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution such Payment Date;
(xiiix) The with respect to the Mortgage Pool and each Mortgage Loan Group, the weighted average remaining term to maturity and the weighted average Mortgage Interest Rate of the Mortgage Loans in each Mortgage Loan Group and as of the weighted average Loan Rate in each Grouplast day of the related Due Period;
(xivxi) The the Servicing Fee for each Group Fees paid and Servicing Fees accrued during the amount to be paid to the Certificate Insurer pursuant to Section 5.01related Due Period;
(xvxii) The the amount of all payments or reimbursements to the Servicer pursuant to Section 3.035.04 (ii), (iv), (v), (vi) and (vii) paid or to be paid since the prior Payment Date (or in the case of the first Payment Date, since the Closing Date);
(xvixiii) The the Pool Factor Principal Balance and aggregate Principal Balance for each Mortgage Loan Group determined using as of the balances in subclause (ii) abovelast day of the related Due Period;
(xviixiv) The amountsuch other information as the Certificate Insurer, if any, transferred from each Account Party and the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01Certificateholders may reasonably require;
(xviiixv) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer Servicer, the Representative or the SellerDepositors, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix)6.05;
(xxxvi) The with respect to the Mortgage Pool and each Mortgage Loan Group, the number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixvii) The the aggregate interest accrued on the Mortgage Loans at their respective Mortgage Interest Rates for the related Due Period;
(xviii) [Reserved]
(xix) the Subordinated Amount, the amount on deposit in each sub-account of the Spread Account Account, the Cumulative Excess Spread Receipts, in each case after giving effect to any payments or withdrawals on such Payment Date, and with respect to the Distribution Mortgage Pool and each Mortgage Loan Group, the Excess Spread with respect to such Payment Date;
(xxiixx) The amount the aggregate Mortgage Loan Losses since the Cut-off Date as of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage end of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalDue Period; and
(xxvxxi) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. [Reserved] The Trustee shall make forward such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” Certificateholders on the related Distribution Payment Date. Assistance , by telecopy, with a hard copy to follow (in using the website can be obtained case of the Depository) or by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Datemail. The Depositors and the Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer and the Trustee may rely upon the lattertelecopy. In the case of information furnished pursuant to subclauses (ii), (iii), (iv), (v) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each of the Class A Certificates for each $1,000 original dollar amount as of the Cut-Off off Date.
(a) Upon reasonable advance notice in writing, the Servicer will provide to the Trustee access to information and documentation regarding the Mortgage Loans sufficient to permit any Holder which is a savings and loan association, bank or insurance company to comply with applicable regulations of the FDIC or other regulatory authorities with respect to investment in the Certificates, as applicable.
(b) The Servicer shall furnish to the Trustee and to the Certificate Insurer, during the term of this Agreement, such periodic, special, or other reports or information not specifically provided for herein, as may be necessary, reasonable, or appropriate with respect to the Trustee or the Certificate Insurer, as the case may be, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Trustee or the Certificate Insurer may reasonably require; provided, that the Servicer shall be entitled to be reimbursed by the requesting party, for the fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of its business.
(c) Reports and computer tapes furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of proprietary nature, and shall not be copied or distributed except in connection with the purposes and requirements of this Agreement; provided that the Certificate Insurer may copy or distribute such information (A) pursuant to a subpoena or order issued by a court of competent jurisdiction or by a judicial or administrative or legislative body or committee, (B) as may be required in any report, statement or testimony submitted to any Federal, state, municipal or other regulatory body having jurisdiction over the Certificate Insurer, (C) in order to comply with any law, ruling, order or regulation applicable to the Certificate Insurer, or (D) as may be required by any rating agency or reinsurer. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the Originators or for any other purpose except as set forth in this Agreement.
(d) The Trustee shall promptly send to the Certificate Insurer and, upon request, to each Certificateholder in writing:
(i) notice of any reduction in the Specified Spread Account Requirement;
(ii) notice of any reduction of the percentages set forth in the definition of "Monthly Excess Spread Amount";
(iii) notice of the appointment of any Subservicer;
(iv) notice of any transfer of any Account to a different depository institution;
(v) notice of any reduction in the rating of any Letter of Credit Bank below the minimum ratings described in Section 6.11(b);
(vi) a copy of each Officer's Certificate delivered pursuant to Section 7.04 and any notice received from the Servicer of a change in the fiscal year of the Servicer;
(vii) a copy of each letter delivered pursuant to Section 7.05; and
(viii) notice of the receipt by the Trustee of any information regarding the Servicer's servicing activities pursuant to the last paragraph of Section 10.01(c); provided, that in each case the Trustee shall only be required to send such notices and other items to such Persons to the extent that the Trustee has itself received the related information. The Depositors, the Servicer and the Trustee on behalf of Certificateholders (the "Trust Parties") hereby authorize the Certificate Insurer to include the information contained in reports provided to the Certificate Insurer hereunder (the "Information") on The Bloomberg, an on-line computer based information network maintained by Bloomberg L.P. ("Bloomberg"), or in other electronic or print information services. The Trust Parties agree not to commence any actions or proceedings, or otherwise assert any claims, against the Certificate Insurer or its affiliates or any of the Certificate Insurer's or its affiliates' respective agents, representatives, directors, officers or employees (collectively, the "Certificate Insurer Parties"), arising out of, or related to or in connection with the dissemination and/or use of any Information by the Certificate Insurer, including, but not limited to, claims based on allegations of inaccurate, incomplete or erroneous transfer of information by the Certificate Insurer to Bloomberg or otherwise (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Trust Parties waive their rights to assert any such claims against the Certificate Insurer Parties and fully and finally release the Certificate Insurer Parties from any and all such claims, demands, obligations, actions and liabilities (other than in connection with the Certificate Insurer's negligence or willful misconduct). The
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Eqcc Asset Backed Corp)
Statements. (a) Not later than 12:00 noon noon, California time time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic modem a computer tape file containing the information set forth on Exhibit D as to each Mortgage Loan called for by clauses (i) through (xxi) below as of such the end of the preceding Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon noon, California time time, on the each Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a confirmation of the items in clause (i) below. Not later than one Business Day prior to each Distribution Date the Trustee shall deliver a statement (the “"Trustee’s 's Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification or calculation thereof:
(i) The Group 1 and Group 2 Available Funds for each Certificate Group and each Class's Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Aggregate Class of Class A-IO Certificates and the Aggregate A Principal Balance of the Mortgage Loans in for each Certificate Group as reported in the prior Trustee’s 's Remittance Report pursuant to subclause (xiixi) below, or, in the case of the first Determination Date, the Original Class Certificate Principal Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Pool Principal Balance of the Mortgage Loans in each GroupBalance;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each GroupDate;
(viii) The delinquency and foreclosure information set forth in Class A Principal Distribution, the form attached hereto as Exhibit L;
(ix) The Remittance Amount for portion thereof to be distributed on each Class of Class A Certificates then entitled to distributions of principal, and the Class A-IO Certificates for the Interest Distribution Date with the components thereof stated separately;to be distributed on each Class of Senior Certificates.
(xix) The amount of the Insured Amounts for each GroupPayments, if any, to be paid made on the Distribution Date;
(xix) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xiixi) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Group Certificate Principal Balance of for each Group, each Certificate Group after giving effect to the distribution to be made on the Distribution Date;
(xiiixii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each GroupRate;
(xivxiii) The Servicing Fee for each Group and the amount Premium Amount and Reimbursement Amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xvxiv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03Sections 3.03(ii) and (vi);
(xv) The O/C Amount and the Specified O/C Amount for such Distribution Date;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv5.01(a)(vi)(3) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix5.01(a)(vi)(7);
(xxxvii) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxiixviii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for Loan Losses and the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Principal Balance;
(xxiiixix) The Class A-2 Available Funds CarryforwardAs of the end of the preceding calendar month, if any, after giving effect to all distributions on such Distribution Datethe number and Principal Balance of Mortgage Loans which are 30- 59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are more than 90 days delinquent; the number and Principal Balance of Mortgage Loans which are in foreclosure; and the number and Principal Balance of Mortgage Loans which are REO Property;
(xxivxx) The amount of Class Interest A-7 Basis Risk Carryover Shortfall relating to each Amount distributed on such Distribution Date and any remaining Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalA-7 Basis Risk Carryover Amount; and
(xxvxxi) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred The Certificate Rates for the Class A-7 and specifying Class S Certificates for such Distribution Date and the details thereofClass A-7 Formula Rate for the related and the following Interest Period. The Trustee shall make forward such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date; provided, however that the Trustee shall remove the Premium Amount to be paid the Certificate Insurer from clause (xiii) of such report prior to submission of the report to Bloomberg and Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. The Servicer shall calculate all items in clauses (i) - (xxi) above. To the extent that there are inconsistencies between the telecopy of the Trustee’s 's Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (xi) and (ixxvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Senior Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (vii) and (xiii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Senior Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to each Certificateholder and to the Certificate Insurer (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or the Certificate Insurer, as the case may be, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder or the Certificate Insurer, as the case may be, may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder or the Certificate Insurer, as the case may be, for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or for the internal use of the Certificate Insurer and its counsel or to the Rating Agencies, the Certificate Insurer's reinsurers, parent, regulators, liquidity providers and auditors, provided that the Certificate Insurer shall attempt in good faith to cause such additional Persons to acknowledge in writing the foregoing restrictions, and in connection with the purposes and requirements of this Agreement. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Funding Corp /De/)
Statements. (a) Not later than 12:00 noon noon, California time time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic modem a computer tape file containing the information set forth on Exhibit D as to each Mortgage Loan called for by clauses (i) through (xxi) below as of such the end of the preceding Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon noon, California time time, on the each Determination Date, the Trustee shall deliver to the Servicer, Servicer and the Depositor and to the Certificate Insurer, Seller by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a confirmation of the items in clause (i) below. Not later than one Business Day prior to each Distribution Date the Trustee shall deliver a statement (the “"Trustee’s 's Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification or calculation thereof:
(i) The Group 1 and Group 2 Available Funds for each Certificate Group and each Class's Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest for each Loan Group paid as principal;
(vi) the Servicing Fee;
(vii) the Loan Group Balance of each Loan Group and the Pool Balance, in each case as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Trigger Event has occurred and is continuing;
(xi) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(ivxii) The amount of all Curtailments in each Group that were received during the Due Period;
(vxiii) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vixiv) The amount interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiiixvii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each GroupRate;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xvxviii) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxiixx) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for Loan Losses and the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Principal Pool Balance;
(xxiiixxi) The Class A-2 Available Funds CarryforwardAs of the end of the preceding calendar month, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount the number and Principal Balance of Class Interest Carryover Shortfall relating to each Class Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Class A Certificates Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are more than 90 days delinquent; the number and Principal Balance of Mortgage Loans which are in foreclosure; and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class number and the amount allocable to interest and principalPrincipal Balance of Mortgage Loans which are REO Property; and
(xxvxxii) Whether a Servicer Termination Delinquency Event or a Servicer Termination the calculation of the Cumulative Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.the
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Funding Corp /De/)
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means and to the Certificate Insurer via e-mail at ▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇, a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) through (xxvii) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require, and the Seller hereby agrees to provide the Trustee and the Servicer with an amended Prepayment Charge Schedule, if required, at such time. Not later than 12:00 noon California time on the Determination Date, each Distribution Date the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, prepare a statement (the “Trustee’s "Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds and each Class' Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee, the Premium Amount and the Reimbursement Amount;
(vii) the Pool Balance as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof;
(xi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(ivxii) The the amount of all Curtailments in each Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class P Certificates, Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Groupas of the first day of the month prior to the Distribution Date;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) [Reserved];
(xxiii) The Class A-2 Available Funds Carryforwardthe number and aggregate Principal Balance of Mortgage Loans, if anyother than Mortgage Loans in default or imminent default, after giving effect to all distributions on such Distribution Datethat were modified by the Servicer during the related Due Period;
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Offered Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to of Net Rate Cap Carryover remaining for each such Class and the amount allocable to interest and principalClass; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying [Reserved];
(xxvi) [Reserved];
(xxvii) the details thereofamount of the Insured Payments, if any, to be made on such Distribution Date. The Trustee shall make available such report available to the Servicer, the Depositor, the CertificateholdersSeller, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date; provided, however, that the Trustee shall remove from the report the Premium Amount to be paid to the Certificate Insurer prior to the submission to Bloomberg and Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and the parties to this Agreement via the Trustee's internet website. The Trustee's internet website shall initially be located at "▇▇▇.▇▇▇▇▇▇▇.▇▇▇". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Renaissance Home Equity Loan Asset-BKD Cert Series 2002-1)
Statements. Not (a) No later than 12:00 12 noon (California time time) on the fourth Business Day following the last day of a Due Periodeach Remittance Date, the Servicer shall deliver to the Indenture Trustee a computer tape containing and the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination DateInitial Noteholder by facsimile, the Trustee receipt and legibility of which shall deliver to the Servicerbe confirmed by telephone, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered no later than one (1) Business Day after such Remittance Date, the Servicer's Remittance Report, setting forth the date of such Report (day, month and year), the name of the Issuer (i.e., "Advanta Home Equity Loan Owner Trust 1998-MS1"), the Series designation of the Notes (i.e., "Series 1998-MS1") and the date of this Agreement, all in substantially the form set out in Exhibit B hereto. Furthermore, on each Remittance Date, the succeeding Distribution Servicer shall deliver to the Indenture Trustee and the Initial Noteholder a magnetic tape or computer disk providing, with respect to each Loan in the Loan Pool as of the last day of the related Remittance Period (i) the related Loan Originator's internal loan identifying number; (ii) if such Loan is an ARM, the current Loan Interest Rate; (iii) the Principal Balance with respect to such Loan; (iv) the date of the last Monthly Payment paid in full; and (v) such other information as may be reasonably requested by the Initial Noteholder and the Indenture Trustee.
(i) No later than 12 noon (California time) on each Remittance Date, the Servicer shall prepare and provide to the Indenture Trustee via fax, receipt confirmed by telephone, the Initial Noteholder and each Noteholder, a statement (the “Trustee’s Remittance Report”"Payment Statement"),
(1) containing the information set forth below (to aggregate amount of collections in respect of principal of the extent any such information to be delivered Loans received by the Servicer during the preceding Remittance Period;
(2) the aggregate amount of collections in respect of interest on the Loans received by the Servicer during the preceding Remittance Period;
(3) all Mortgage Insurance Proceeds received by the Servicer and not required to be applied to restoration or repair of the related Mortgaged Property during the preceding Remittance Period;
(4) all Net Liquidation Proceeds deposited by the Servicer into the Collection Account during the preceding Remittance Period;
(5) all Released Mortgaged Property Proceeds deposited by the Servicer into the Collection Account during the preceding Remittance Period;
(6) the aggregate amount of all Servicing Advances, set forth separately, made by the Servicer during the preceding Remittance Period;
(7) the aggregate of all amounts deposited into the Collection Account in respect of the repurchase of Unqualified Loans and the repurchase of Loans pursuant to Section 2.05 hereof during the first sentence preceding Remittance Period;
(8) the aggregate Principal Balance of this all Loans for which a Servicer Call was exercised during the preceding Remittance Period;
(9) the aggregate Principal Balance of all Loans for which a Loan Originator Put was exercised during the preceding Remittance Period;
(10) the aggregate amount of all payments received under Hedging Instruments during the preceding Remittance Period;
(11) the aggregate amount of all withdrawals from the Collection Account pursuant to Section 5.01(a5.01(c)(1)(i) has been so deliveredhereof during the preceding Remittance Period;
(12) the aggregate amount of cash Disposition Proceeds received during the preceding Remittance Period;
(13) withdrawals from the Collection Account in respect of the Servicing Advance Reimbursement Amount with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Payment Date;
(ii14) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group[Reserved];
(iii15) The number [Reserved];
(16) the aggregate amount of Liquidated Loan Losses incurred (i) during the preceding Remittance Period, and (ii) during the preceding three Remittance Periods;
(17) the aggregate of the Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject Loan Pool as of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Remittance Period;
(xxi18) The the aggregate amount on deposit in each sub-account of the Spread Account after all deposits into the Distribution Account from the Transfer Obligation Account pursuant to Sections 5.05(e), 5.05(f), 5.05(g), and 5.05(h) on the preceding Payment Date;
(xxii19) The if the Servicer is not Advanta Corp. or an Affiliate thereof, the aggregate amount of losses experienced on distributions in respect of Servicing Compensation to the Mortgage Loans in each Group during the preceding Due Period Servicer, and the cumulative losses unpaid Servicing Compensation from prior Payment Dates for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Payment Date;
(xxiv20) The the aggregate amount of Class Interest Carryover distributions in respect of Indenture Trustee Fees and unpaid Indenture Trustee Fees from prior Payment Dates for the related Payment Date;
(21) the aggregate amount of distributions in respect of the Custodian Fee and unpaid Custodian Fees from prior Payment Dates for the related Payment Date;
(22) the Unfunded Transfer Obligation and Overcollateralization Shortfall relating on such Payment Date for the related Payment Date;
(23) the aggregate amount of distributions in respect of Servicing Compensation and unpaid Servicing Compensation from prior Payment Dates, to each Class the Servicer, if Advanta Corp. or an Affiliate thereof is the Servicer, for the related Payment Date;
(24) the aggregate amount of Class A distributions to the Transfer Obligation Account for the related Payment Date;
(25) the aggregate amount of distributions in respect of Trust/Depositor Indemnities for the related Payment Date;
(26) the aggregate amount of distributions to the holders of the Trust Certificates and for the Class A-IO Certificates, separately stating related Payment Date;
(27) the amount that is allocable Note Principal Balance of the Notes as of the last day of the related Remittance Period (without taking into account any additional Note
(28) the Pool Principal Balance as of the end of the preceding Remittance Period;
(29) whether a Rapid Amortization Trigger shall exist with respect to each such Class and Payment Date;
(30) the amount allocable to interest and principalaggregate Principal Balance of all HELOC Mortgage Loans as of the end of the related Remittance Period;
(31) the aggregate Principal Balance of all Draw Amounts during the preceding Remittance Period;
(32) the aggregate Principal Balance of Credit Limits on the HELOC Mortgage Loans as of the end of the related Remittance Period; and
(xxv33) Whether the Unfunded Draw Reimbursement Amounts as of the end of the related Remittance Period. Such Payment Statement shall also be provided on the Remittance Date to the Initial Noteholder and Indenture Trustee in the form of a Servicer Termination Delinquency Event magnetic tape or computer disk in a Servicer Termination Loss Event has occurred form mutually agreed to by and specifying between the details thereofInitial Noteholder, the Indenture Trustee and the Servicer. The Indenture Trustee shall make such report available have no duty to monitor the occurrence of a Performance Trigger, Rapid Amortization Trigger, Collateral Value Excess or any events resulting in withdrawals from the Transfer Obligation Account.
(c) On each Payment Date, the Indenture Trustee shall forward to the Servicer, holders of the Depositor, Securities a copy of the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Payment Statement in respect of such Payment Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, other information as the Indenture Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Datedeems necessary or appropriate.
Appears in 1 contract
Statements. (a) Not later than 12:00 noon California time noon, New York time, on the fourth Business Day following the last day of a Due Periodeach Determination Date, the Master Servicer shall deliver to the Trustee Trust Administrator a computer tape monthly report (the "Monthly Report") in a form and format mutually agreeable to the Master Servicer and the Trust Administrator containing the information set forth on in Exhibit D C hereto as to each Mortgage Loan as of such the end of the preceding Due Period and such other information as the Trustee Trust Administrator shall reasonably require, including, without limitation, all information necessary to enable the Trust Administrator to make the payments required by Section 4.01(a). Not later than 12:00 noon California time on Each Monthly Report shall be an Officer's Certificate. On the Determination Business Day preceding the Distribution Date, the Trustee Trust Administrator shall deliver make available to the Servicer, Master Servicer and the Depositor and to the Certificate InsurerDepositor, by telecopy, with a hard copy thereof to be delivered on the succeeding such Distribution Date, a statement (the “Trustee’s "Trust Administrator's Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Funds, the Net WAC Cap and, for the Class A-1 Certificates, the Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and Balance, the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Trust Administrator's Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Principal Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Pool Principal Balance of the Mortgage Loans in each GroupBalance;
(iii) The aggregate amount of collections received on the Mortgage Loans during the related Due Period, separately stating the amounts received in respect of principal and interest;
(iv) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the related Due Period;
(v) The principal portion amount of all Monthly Payments for each Group Curtailments that were received during the Due Period;
(vi) The amount principal portion of interest all Monthly Payments received on during the Mortgage Loans in each GroupDue Period;
(vii) The amount interest portion of the all Monthly Advances and the Compensating Interest payment to be made Payments received on the Determination Date for each GroupMortgage Loans during the Due Period;
(viii) The delinquency and foreclosure information set forth in amount required to be paid by the form attached hereto as Exhibit LOriginators or the Seller (reported separately) pursuant to Sections 2.02, 2.04 or 2.06;
(ix) The Remittance Amount Class A Principal Distribution, the Class M-1 Principal Distribution and Class M-2 Principal Distribution for the related Distribution Date, the portion thereof to be distributed on each Class of Certificates then entitled to distributions of principal and the Class A and Class A-IO Certificates Monthly Interest Distribution Amount for the related Distribution Date with the components thereof stated separatelyto be distributed on each Class of Certificates;
(x) The amount of the Insured Amounts for each Groupamount, if any, of any Net WAC Carryover and the Outstanding Class Interest Carryover Shortfall for each Class after giving effect to the distributions to be paid made on the related Distribution Date;
(xi) The amount Class Principal Balance of each Class after giving effect to the distributions to be distributed to made on the Class R Certificateholders for the related Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each GroupRate;
(xivxiii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01Master Servicer;
(xvxiv) The amount of all payments or reimbursements to the Master Servicer pursuant to Section 3.03;
(xvixv) The Pool Factor Overcollateralization Amount, the Overcollateralization Deficiency, the Overcollateralization Release Amount, the Target Overcollateralization Amount and the Remaining Excess Spread for each Group determined using the balances in subclause (ii) abovesuch Distribution Date;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xxxvi) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixvii) The amount on deposit in each sub-account Pool Principal Balance as of the Spread Account after end of the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xviii) The number and aggregate Principal Balance of Mortgage Loans (w) as to which the Monthly Payment is delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (x) that have become REO Properties, in each case as of the end of the related Due Period, (y) that are in foreclosure and (z) the Mortgagor of which is the subject of any bankruptcy or insolvency proceeding;
(xix) The unpaid Principal Balance of all Mortgage Loans that became Liquidated Mortgage Loans during such Due Period;
(xx) The Net Liquidation Proceeds received during such Due Period;
(xxi) The book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure;
(xxii) Whether a Trigger Event has occurred or is continuing;
(xxiii) Such other information as is required by the Code and regulations thereunder to be made available to Holders of the Regular Certificates;
(xxiv) For so long as AGFC is the Master Servicer, the Rating Agencies ratings of the long-term unsecured debt of the Master Servicer;
(xxv) The amount of Class Prepayment Interest Carryover Shortfall relating to each Class Shortfalls for the Due Period;
(xxvi) The 60+ Delinquency Percentage (Rolling Three Month) as of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalDistribution Date; and
(xxvxxvii) Whether a The number and aggregate Principal Balance of all Mortgage Loans purchased by the Master Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred pursuant to Section 3.16 for (i) the related Due Period and specifying (ii) for all Due Periods since the details thereofCut-Off Date. The Trustee Trust Administrator shall make available such report available concurrently with each distribution to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, Certificateholders and the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee Trust Administrator may fully rely upon and shall have no liability with respect to information provided by the Master Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (ix), (x) and (ixxi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclause (xxiii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trust Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall deliver to each Person who at any time during the calendar year was a Transferor, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Transferor. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trust Administrator pursuant to any requirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (American General MRT Ln Asst BCKD Ps THR CRTS Sr 2003-1)
Statements. Not (a) No later than 12:00 noon California time on the fourth Business Day following the last day of a Due Periodeach Determination Date, the Servicer shall deliver to the Indenture Trustee and the Securities Insurer a magnetic tape or computer tape containing disk providing such information regarding the information set forth on Exhibit D as to each Mortgage Loan as of such Servicer's activities in servicing the Home Loans during the related Due Period and such other information as the Indenture Trustee shall and the Securities Insurer may reasonably require. Not .
(1) Subject to the modification of the Servicer's Monthly Statement by the Servicer with the prior written consent of the Securities Insurer and the Indenture Trustee, no later than 12:00 noon California time on the Determination three (3) Business Days before each Distribution Date, the Servicer shall prepare and the Indenture Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with distribute a hard copy thereof to be delivered on the succeeding Distribution Date, a monthly statement (the “Trustee’s Remittance Report”"Servicer's Monthly Statement") containing the information set forth below (to the extent any such information to be delivered by Seller, the Servicer pursuant to Securityholders, the first sentence Securities Insurer and the Rating Agencies, stating the date of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:original issuance of the Securities (day, month and year), the name of the Issuer (i.e. "FIRSTPLUS
(i) The Group 1 the Available Collection Amount and Group 2 Available Funds and each Certificate Rate Required Distribution Amount for the related Distribution Date;
(ii) The the amount, if any, on deposit in the Pre-Funding Account and the Capitalized Interest Account on such Distribution Date;
(iii) the Class Principal Balance of each Class of Class A Certificates and Notes, the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Certificate Principal Balance of the Mortgage Loans in each Group as reported Certificates, and the Pool Principal Balance (including, until the Funding Period ends, the amount remaining in the prior Trustee’s Remittance Report pursuant to subclause (xiiPre-Funding Account and the Capitalized Interest Account as of such Distribution Date) below, or, in the case as of the first Determination Date, the Original Class Certificate Balance day of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance Due Period and after giving effect to distributions made to the holders of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Periodsuch Securities on such Distribution Date;
(iv) The amount the Class Pool Factor with respect to each Class of all Curtailments in each Group that were received during Notes then outstanding and the Due PeriodCertificate Pool Factor with respect to the Certificates then outstanding;
(v) The the amount of principal portion of all Monthly Payments for each Group and interest received on the Home Loans during the related Due Period;
(vi) The amount of interest received on the Mortgage Loans in each GroupNoteholders' Distributable Amount and the Certificateholders' Distributable Amount;
(vii) The amount the amount, if any, of the Monthly Advances and Excess Overcollateralization Amount and, if applicable, the Compensating Interest payment Overcollateralization Reduction Amount or any other amount to be made distributed to the Securityholders or the holders of the Residual Interest on the Determination Date for each Groupsuch Distribution Date;
(viii) The delinquency the Servicing Compensation, the Indenture Trustee Fee, the Owner Trustee Fee and foreclosure information set forth in the form attached hereto as Exhibit LGuaranty Insurance Premium for such Distribution Date;
(ix) The Remittance the Overcollateralization Amount for each Class on such Distribution Date, the Required Overcollateralization Amount as of Class A such Distribution Date, the Net Loan Losses incurred during the related Due Period and Class A-IO Certificates for the cumulative Net Loan Losses as of such Distribution Date with the components thereof stated separatelyDate;
(x) The the Reserve Account Requirement and the amount of remaining on deposit in the Insured Amounts for each Group, if any, Reserve Account on such Distribution Date after giving effect to be paid the distributions made to Securityholders on the such Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Home Loans in each Group and the weighted average Home Loan Interest Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each GroupHome Loans; 80 (xii) certain performance information, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess including delinquency and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability foreclosure information with respect to information provided by the Home Loans, as set forth in the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s 's Monthly Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.Report;
Appears in 1 contract
Sources: Sale and Servicing Agreement (Firstplus Investment Corp)
Statements. Not later than 12:00 noon California Chicago, Illinois time on the fourth Business Day following the last day of a Due Periodpreceding each Determination Date, the Servicer shall deliver to the Trustee and the Certificate Insurer a computer tape or written report containing the information set forth on Exhibit D R as to each Mortgage Loan as of such with respect to the related Due Period and such other information with respect to the Mortgage Loans in the aggregate as the Trustee shall reasonably require. Not later than 12:00 noon California Chicago, Illinois time on the Determination two Business Days preceding each Payment Date, the Trustee shall deliver to the Depositors, any Paying Agent, the Servicer, the Depositor and to the Certificate Insurer, Moody's and S&P by telecopy, a statement (the "Remittance Report") containing the information set forth below with respect to the succeeding Payment Date, with a hard copy thereof to be delivered on the immediately succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution DateBusiness Day:
(i) The the Available Payment Amount attributable to each Mortgage Loan Group 1 and Group 2 any portion of the Available Funds and each Certificate Rate for Payment Amount that has been deposited in the related Distribution DateCollection Account but may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to Section 362 of the United States Bankruptcy Code;
(ii▇▇) The ▇▇▇ ▇▇▇▇▇ ▇-1 Principal Balance, the Class A-2 Principal Balance, the Class A-3 Principal Balance, the Class A-4 Principal Balance, the Class A-5 Principal Balance, the Class A-6 Principal Balance, the Class A-7 Principal Balance, the Adjustable Rate Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of the with respect to each Mortgage Loans in each Group Loan Group, as reported in the prior Trustee’s Remittance Report provided pursuant to subclause (xiixiii) belowbelow for the immediately preceding Payment Date, or, in the case of the first Determination Date, the Original Class Certificate A-1 Principal Balance, the Original Class A-2 Principal Balance, the Original Class A-3 Principal Balance, the Original Class A-4 Principal Balance, the Original Class A-6 Principal Balance, the Original Class A-7 Principal Balance, the Original Class A-8 Principal Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Pool Principal Balance of the with respect to each Mortgage Loans in each Loan Group;
(iii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that which were the subject of Principal Prepayments during the related Due Period;
(iv) The with respect to the Mortgage Pool and each Mortgage Loan Group, the amount of all Curtailments in each Group that which were received during the related Due Period;
(v) The with respect to the Mortgage Pool and each Mortgage Loan Group, the aggregate amount of principal portion of all Monthly Payments for each Group received during the related Due Period;
(vi) The with respect to the Mortgage Pool and each Mortgage Loan Group, the amount of interest received on the Mortgage Loans in each Groupduring the related Due Period;
(vii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the aggregate amount of the Monthly Advances made and the Compensating Interest payment recovered with respect to be made on the Determination Date for each Groupsuch Payment Date;
(viii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the delinquency and foreclosure information set forth in the form attached hereto as Exhibit LH and the amount of Mortgage Loan Losses during the related Due Period;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for A-1 Principal Balance, the Distribution Date;
(xii) The Class A-2 Principal Balance, the Class A-3 Principal Balance, the Class A-4 Principal Balance, the Class A-5 Principal Balance, the Class A-6 Principal Balance, the Class A-7 Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Adjustable Rate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution such Payment Date;
(xiiix) The with respect to the Mortgage Pool and each Mortgage Loan Group, the weighted average remaining term to maturity and the weighted average Mortgage Interest Rate of the Mortgage Loans in each Mortgage Loan Group and as of the weighted average Loan Rate in each Grouplast day of the related Due Period;
(xivxi) The the Servicing Fee for each Group Fees paid and Servicing Fees accrued during the amount to be paid to the Certificate Insurer pursuant to Section 5.01related Due Period;
(xvxii) The the amount of all payments or reimbursements to the Servicer pursuant to Section 3.035.04 (ii), (iv), (v), (vi) and (vii) paid or to be paid since the prior Payment Date (or in the case of the first Payment Date, since the Closing Date);
(xvixiii) The the Pool Factor Principal Balance and aggregate Principal Balance for each Mortgage Loan Group determined using as of the balances in subclause (ii) abovelast day of the related Due Period;
(xviixiv) The amountsuch other information as the Certificate Insurer, if any, transferred from each Account Party and the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01Certificateholders may reasonably require;
(xviiixv) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer Servicer, the Representative or the SellerDepositors, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix)6.05;
(xxxvi) The with respect to the Mortgage Pool and each Mortgage Loan Group, the number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixvii) The the aggregate interest accrued on the Mortgage Loans at their respective Mortgage Interest Rates for the related Due Period;
(xviii) the Principal Balance of Mortgage Loans in the Fixed Rate Group with Mortgage Interest Rates less than 8.17% per annum and less than 8.27% per annum;
(xix) the Subordinated Amount, the amount on deposit in each sub-account of the Spread Account Account, the Cumulative Excess Spread Receipts, in each case after giving effect to any payments or withdrawals on such Payment Date, and with respect to the Distribution Mortgage Pool and each Mortgage Loan Group, the Excess Spread with respect to such Payment Date;
(xxiixx) The amount the aggregate Mortgage Loan Losses since the Cut-off Date as of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage end of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalDue Period; and
(xxvxxi) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofLIBOR Interest Carryover with respect to such Payment Date. The Trustee shall make forward such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” Certificateholders on the related Distribution Payment Date. Assistance , by telecopy, with a hard copy to follow (in using the website can be obtained case of the Depository) or by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Datemail. The Depositors and the Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer and the Trustee may rely upon the lattertelecopy. In the case of information furnished pursuant to subclauses (ii), (iii), (iv), (v) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each of the Class A Certificates for each $1,000 original dollar amount as of the Cut-Off off Date.
(a) Upon reasonable advance notice in writing, the Servicer will provide to the Trustee access to information and documentation regarding the Mortgage Loans sufficient to permit any Holder which is a savings and loan association, bank or insurance company to comply with applicable regulations of the FDIC or other regulatory authorities with respect to investment in the Certificates, as applicable.
(b) The Servicer shall furnish to the Trustee and to the Certificate Insurer, during the term of this Agreement, such periodic, special, or other reports or information not specifically provided for herein, as may be necessary, reasonable, or appropriate with respect to the Trustee or the Certificate Insurer, as the case may be, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Trustee or the Certificate Insurer may reasonably require; provided, that the Servicer shall be entitled to be reimbursed by the requesting party, for the fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of its business.
(c) Reports and computer tapes furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of proprietary nature, and shall not be copied or distributed except in connection with the purposes and requirements of this Agreement; provided that the Certificate Insurer may copy or distribute such information (A) pursuant to a subpoena or order issued by a court of competent jurisdiction or by a judicial or administrative or legislative body or committee, (B) as may be required in any report, statement or testimony submitted to any Federal, state, municipal or other regulatory body having jurisdiction over the Certificate Insurer, (C) in order to comply with any law, ruling, order or regulation applicable to the Certificate Insurer, or (D) as may be required by any rating agency or reinsurer. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the Originators or for any other purpose except as set forth in this Agreement.
(d) The Trustee shall promptly send to the Certificate Insurer and to each Certificateholder) in writing:
(i) notice of any reduction in the Specified Spread Account Requirement;
(ii) notice of any reduction of the percentages set forth in the definition of "Monthly Excess Spread Amount";
(iii) notice of the appointment of any Subservicer;
(iv) notice of any transfer of any Account to a different depository institution;
(v) notice of any reduction in the rating of any Letter of Credit Bank below the minimum ratings described in Section 6.11(b);
(vi) a copy of each Officer's Certificate delivered pursuant to Section 7.04 and any notice received from the Servicer of a change in the fiscal year of the Servicer;
(vii) a copy of each letter delivered pursuant to Section 7.05; and
(viii) notice of the receipt by the Trustee of any information regarding the Servicer's servicing activities pursuant to the last paragraph of Section 10.01(c); provided, that in each case the Trustee shall only be required to send such notices and other items to such Persons to the extent that the Trustee has itself received the related information. The Depositors, the Servicer and the Trustee on behalf of Certificateholders (the "Trust Parties") hereby authorize the Certificate Insurer to include the information contained in reports provided to the Certificate Insurer hereunder (the "Information") on The Bloomberg, an on-line computer based information network maintained by Bloomberg L.P. ("Bloomberg"), or in other electronic or print information services. The Trust Parties agree not to commence any actions or proceedings, or otherwise assert any claims, against the Certificate Insurer or its affiliates or any of the Certificate Insurer's or its affiliates' respective agents, representatives, directors, officers or employees (collectively, the "Certificate Insurer Parties"), arising out of, or related to or in connection with the dissemination and/or use of any Information by the Certificate Insurer, including, but not limited to, claims based on allegations of inaccurate, incomplete or erroneous transfer of information by the Certificate Insurer to Bloomberg or otherwise (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Trust Parties waive their rights to assert any such claims against the Certificate Insurer Parties and fully and finally release the Certificate Insurer Parties from any and all such claims, demands, obligations, actions and liabilities (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Certificate Insurer makes no representations or warranties, expressed or implied, of any kind whatsoever with respect to the accuracy, adequacy, timeliness, completeness, merchantability or fitness for any particular purpose of any Information in any form or manner. The Certificate Insurer reserves the right at any time to withdraw or suspend the dissemination of the Information by the Certificate Insurer. The authorizations, covenants and obligations of the Trust Parties under this section shall be irrevocable and shall survive the termination of this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Eqcc Asset Backed Corp)
Statements. Not later than 12:00 noon California Chicago, Illinois time on the fourth Business Day following the last day of a Due Periodpreceding each Determination Date, the Servicer shall deliver to the Trustee and the Certificate Insurer a computer tape or written report containing the information set forth on Exhibit D R as to each Mortgage Loan as of such with respect to the related Due Period and such other information with respect to the Mortgage Loans in the aggregate as the Trustee shall reasonably require. Not later than 12:00 noon California Chicago, Illinois time on the Determination two Business Days preceding each Payment Date, the Trustee shall deliver to the Depositors, any Paying Agent, the Servicer, the Depositor and to the Certificate Insurer, Moody's and S&P by telecopy, a statement (the "Remittance Report") containing the information set forth below with respect to the succeeding Payment Date, with a hard copy thereof to be delivered on the immediately succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution DateBusiness Day:
(i) The the Available Payment Amount attributable to each Mortgage Loan Group 1 and Group 2 any portion of such Available Funds and each Certificate Rate for Payment Amount that has been deposited in the related Distribution Date;Collection Account but may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to ▇▇▇▇▇▇▇ ▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Bankruptcy Code; 118
(ii) The the Class A-1 Principal Balance, the Class A-2 Principal Balance, the Class A-3 Principal Balance, the Class A-4 Principal Balance, the Class A-5 Principal Balance, the Class A-6 Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of the attributable to each Mortgage Loans in each Group Loan Group, as reported in the prior Trustee’s Remittance Report provided pursuant to subclause (xiixiii) belowbelow for the immediately preceding Payment Date, or, in the case of the first Determination Date, the Original Class Certificate A-1 Principal Balance, the Original Class A-2 Principal Balance, the Original Class A-3 Principal Balance, the Original Class A-4 Principal Balance, the Original Class A-5 Principal Balance, the Original Class A-6 Principal Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Pool Principal Balance of the with respect to each Mortgage Loans in each Loan Group;
(iii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that which were the subject of Principal Prepayments during the related Due Period;
(iv) The with respect to the Mortgage Pool and each Mortgage Loan Group, the amount of all Curtailments in each Group that which were received during the related Due Period;
(v) The with respect to the Mortgage Pool and each Mortgage Loan Group, the aggregate amount of principal portion of all Monthly Payments for each Group received during the related Due Period;
(vi) The with respect to the Mortgage Pool and each Mortgage Loan Group, the amount of interest received on the Mortgage Loans in each Groupduring the related Due Period;
(vii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the aggregate amount of the Monthly Advances made and the Compensating Interest payment recovered with respect to be made on the Determination Date for each Groupsuch Payment Date;
(viii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;H and the amount of Mortgage Loan Losses during the related Due Period; 119
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for A-1 Principal Balance, the Distribution Date;
(xii) The Class A-2 Principal Balance, the Class A-3 Principal Balance, the Class A-4 Principal Balance, the Class A-5 Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate A-6 Principal Balance of each GroupBalance, each after giving effect to the distribution to be made on the Distribution such Payment Date;
(xiiix) The with respect to the Mortgage Pool and each Mortgage Loan Group, the weighted average remaining term to maturity and the weighted average Mortgage Interest Rate of the Mortgage Loans in each Group and as of the weighted average Loan Rate in each Grouplast day of the related Due Period;
(xivxi) The the Servicing Fee for each Group Fees paid and Servicing Fees accrued during the amount to be paid to the Certificate Insurer pursuant to Section 5.01related Due Period;
(xvxii) The the amount of all payments or reimbursements to the Servicer pursuant to Section 3.035.04 (ii), (iv), (v), (vi) and (vii) paid or to be paid since the prior Payment Date (or in the case of the first Payment Date, since the Closing Date);
(xvixiii) The the Pool Factor Principal Balance and aggregate Principal Balance for each Mortgage Loan Group determined using as of the balances in subclause (ii) abovelast day of the related Due Period;
(xviixiv) The amountsuch other information as the Certificate Insurer, if any, transferred from each Account Party and the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01Certificateholders may reasonably require;
(xviiixv) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer Servicer, the Representative or the SellerDepositors, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix)6.05;
(xxxvi) The with respect to the Mortgage Pool and each Mortgage Loan Group, the number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixvii) The the aggregate interest accrued on the Mortgage Loans at their respective Mortgage Interest Rates for the related Due Period;
(xviii) the Subordinated Amount, the amount on deposit in each sub-account of the Spread Account Account, the Cumulative Excess Spread Receipts, 120 in each case after giving effect to any payments or withdrawals on such Payment Date, and the Distribution Excess Spread with respect to such Payment Date;
(xxiixix) The amount Principal Balance of losses experienced on the Mortgage Loans in each the Fixed Rate Group during the preceding Due Period with Mortgage Interest Rates less than 8.45% per annum and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal8.55% per annum; and
(xxvxx) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying The aggregate Mortgage Loan Losses since the details thereofCut-off Date as of the end of the related Due Period. The Trustee shall make forward such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” Certificateholders on the related Distribution Payment Date. Assistance , by telecopy, with a hard copy to follow (in using the website can be obtained case of the Depository) or by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Datemail. The Depositors and the Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer and the Trustee may rely upon the lattertelecopy. In the case of information furnished pursuant to subclauses (ii), (iii), (iv), (v) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each of the Class A Certificates for each $1,000 original dollar amount as of the Cut-Off off Date.
(a) Upon reasonable advance notice in writing, the Servicer will provide to the Trustee access to information and documentation regarding the Mortgage Loans sufficient to permit any Holder which is a savings and loan association, bank or insurance company to comply with applicable regulations of the FDIC or other regulatory authorities with respect to investment in the Certificates, as applicable.
(b) The Servicer shall furnish to the Trustee and to the Certificate Insurer, during the term of this Agreement, such periodic, special, or other reports or information not specifically provided for herein, as may be necessary, reasonable, or appropriate with respect to the Trustee or the Certificate Insurer, as the case may be, or otherwise with respect to the purposes of this Agreement, all such reports or 121 information to be provided by and in accordance with such applicable instructions and directions as the Trustee or the Certificate Insurer may reasonably require; provided, that the Servicer shall be entitled to be reimbursed by the requesting party, for the fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of its business.
(c) Reports and computer tapes furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of proprietary nature, and shall not be copied or distributed except in connection with the purposes and requirements of this Agreement; provided that the Certificate Insurer may copy or distribute such information (A) pursuant to a subpoena or order issued by a court of competent jurisdiction or by a judicial or administrative or legislative body or committee, (B) as may be required in any report, statement or testimony submitted to any Federal, state, municipal or other regulatory body having jurisdiction over the Certificate Insurer, (C) in order to comply with any law, ruling, order or regulation applicable to the Certificate Insurer, or (D) as may be required by any rating agency or reinsurer. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the Originators or for any other purpose except as set forth in this Agreement.
(d) The Trustee shall promptly send to the Certificate Insurer and to each Certificateholder) in writing:
(i) notice of any reduction in the Specified Spread Account Requirement;
(ii) notice of any reduction of the percentages set forth in the definition of "Monthly Excess Spread Amount";
(iii) notice of the appointment of any Subservicer;
(iv) notice of any transfer of any Account to a different depository institution;
(v) notice of any reduction in the rating of any Letter of Credit Bank below the minimum ratings described in Section 6.11(b);
(vi) a copy of each Officer's Certificate delivered pursuant to Section 7.04 and any notice received from the Servicer of a change in the fiscal year of the Servicer;
(vii) a copy of each letter delivered pursuant to Section 7.05; and
(viii) notice of the receipt by the Trustee of any information regarding the Servicer's servicing activities pursuant to the last paragraph of Section 10.01(c); provided, that in each case the Trustee shall only be required to send such notices and other items to such Persons to the extent that the Trustee has itself received the related information. The Depositors, the Servicer and the Trustee on behalf of Certificateholders (the "Trust Parties") hereby authorize the Certificate Insurer to include the information contained in reports provided to the Certificate Insurer hereunder (the "Information") on The Bloomberg, an on-line computer based information network maintained by Bloomberg L.P. ("Bloomberg"), or in other electronic or print information services. The Trust Parties agree not to commence any actions or proceedings, or otherwise assert any claims, against the Certificate Insurer or its affiliates or any of the Certificate Insurer's or its affiliates' respective agents, representatives, directors, officers or employees (collectively, the "Certificate Insurer Parties"), arising out of, or related to or in connection with the dissemination and/or use of any Information by the Certificate Insurer, including, but not limited to, claims based on allegations of inaccurate, incomplete or erroneous transfer of information by the Certificate Insurer to Bloomberg or otherwise (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Trust Parties waive their rights to assert any such claims against the Certificate Insurer Parties and fully and finally release the Certificate Insurer Parties from any and all such claims, demands, obligations, actions and liabilities (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Certificate Insurer makes no representations or warranties, expressed or implied, of any kind whatsoever with respect to the accuracy, adequacy, timeliness, completeness, merchantability or fitness for any particular purpose of any Information in any form or manner. The Certificate Insurer reserves the right at any time to withdraw or suspend the dissemination of the Information by the Certificate Insurer. The authorizations, covenants and obligations of the Trust Parties under this section shall be irrevocable and shall survive the termination of this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Eqcc Asset Backed Corp)
Statements. Not later than 12:00 noon California time on the fourth Business Day following the last day of a Due PeriodThe Credit Union will send all statements, the Servicer shall deliver notices and any other information pertaining to an account to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case address of the first Determination Datenamed member on the account. Account owner agrees to advise the Credit Union in writing of any changes of address. You should carefully examine the statement when you receive it. If you feel that there is an error on the statement, or that someone has made an unauthorized debit to your account, you must notify the Original Class Certificate Balance Credit Union immediately. The statement is considered correct unless you notify the Credit Union promptly in writing after any error is discovered. Moreover, because you are in the best position to discover and report any unauthorized debit, you agree that the Credit Union will not be liable for paying such liens if (a) you do not notify any unauthorized debit to the Credit Union within thirty (30) calendar days of each Class the mailing date of Class A Certificates the earliest statement containing the unauthorized debit, or b) the unauthorized items were drawn in such a way that (as by a facsimile machine or otherwise), lack of authority could not be detected by the Credit Union. DEPOSITS: All deposits made to the Credit Union are subject to Regulation CC and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) Expedited Funds Availability Act. The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each GroupCredit Union may refuse any deposit, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating limit the amount that may be deposited, and return all or any part of any deposit without notice. If deposits are made to an account(s) with other than cash, such items are subject to collection. If funds are made available for use prior to collection of such items, you agree to pay or otherwise reimburse the Credit Union for any funds that are not collected. FEES AND CHARGES: A list of Credit Union fees for certain services will be provided to you. These charges are subject to change at any time. Notification of any charges will be provided at least 30 days before any change is allocable to each such Class effective. Other charges and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available fees may be instituted subject to the Servicerlimitation set forth above. Refer to the Credit Union’s Service Fee Schedule for up-to-date information. If the Credit Union incurs any expenses, including but not limited to administrative costs and reasonable attorney fees in responding to an attachment, garnishment or other levy, that is not otherwise reimbursed, it may charge such expense to your account without prior notice to you, EFFECT OF INSTRUCTIONS: Instructions may be given orally, by telephone or in person, in writing; through an ATM, point of sale terminal, computer terminal, or any other method authorized by the Depositor, Credit Union. Each instruction for a withdrawal or transfer of funds from an account of account owner(s) will have the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy legal effect of the computer tape delivered by account owner(s) authorization, written draft, or order. Each instruction for a deposit or other transfer of funds to an account will have the Servicer on legal effect of authorizing the Distribution Date. The Trustee may fully rely upon and shall have no liability Credit Union as account owner(s) agent for collection, until the Credit Union receives final payment in the same manner as with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.checks
Appears in 1 contract
Sources: Membership Agreement
Statements. Not later than 12:00 noon California NetApp shall submit to Dot Hill, [...***...], a complete and accurate statement of account, in such form and containing such information as may be mutually agreed by the parties at any time on the fourth Business Day following the last day of a Due Period, the Servicer shall deliver and from time to time. Notwithstanding anything to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Datecontrary, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered submitted by NetApp shall, at a minimum, include the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
following: (i) The Group 1 and Group 2 Available Funds and the total units of each Certificate Rate of the Royalty-Bearing Items, by product or part number, sold, distributed or otherwise made available to any third party by the aggregate of NetApp, a NetApp DCM or any of their respective Affiliates (for the related Distribution Date;
avoidance of doubt NetApp may provide the aggregate data by each product or part number for all such units regardless of whether they are sold, distributed or otherwise made available by NetApp, a NetApp DCM or any of their respective Affiliates); (ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance identity of the Mortgage Loans in NetApp DCM’s which manufacture each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates Royalty-Bearing Items; and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and a calculation of the Mortgage Loans total amount due and payable to Dot Hill under this License Agreement by each product or part number for the relevant NetApp fiscal month reporting period. Each statement shall be in each Group, that were writing and certified by NetApp and sent by NetApp to a Dot Hill-designated address. Dot Hill shall submit an invoice to NetApp for the subject amount payable based on such statement of Principal Prepayments account [...***...] its receipt of such statement from NetApp. The amounts due to Dot Hill under this License Agreement shall be due and payable to Dot Hill [...***...] (the “Payment Term”) occurring during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received period commencing on the Mortgage Loans in each Group;
(vii) The amount Effective Date and ending on March 31, 2011. Notwithstanding the foregoing, if NetApp has submitted to Dot Hill [...***...] a complete and accurate statement of the Monthly Advances and the Compensating Interest payment account containing proper information for such NetApp [...***...], but Dot Hill has not issued an invoice to NetApp based on such statement within [...***...] after Dot Hill’s receipt of such statement from NetApp, then there will be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth a day-for-day delay in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates Payment Term for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to due from NetApp that is based on such statement which will be paid on the Distribution Date;
(xi) The amount to be distributed equal to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance number of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Groupdays that such invoice had been issued late by Dot Hill, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Groupi.e., the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses days beyond [...***...] for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on which such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇invoice was issued late by Dot Hill.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
Appears in 1 contract
Sources: Technology License Agreement (Dot Hill Systems Corp)
Statements. (a) Not later than 12:00 noon California New York time on the fourth Business Day following the last day of a Due Period, the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Distribution Date, the Trustee shall deliver to the Master Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding such Distribution Date, a statement (the “"Trustee’s 's Remittance Report”") (based solely on the information provided pursuant to Section 4.1) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class A Principal Balance of each Class of Class A Certificates and Class, the Notional Aggregate Loan Balance of each Class of Class A-IO Certificates and the Aggregate Principal Loan Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s 's Remittance Report pursuant to subclause (xii) belowReport, or, in the case of the first Determination Date, the Original Class Certificate A Principal Balance of each Class of Class A Certificates Class, and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each GroupAggregate Loan Balance;
(iii) The number and Principal Balances aggregate amount of all Mortgage Loans and of collections received on the Mortgage Loans on or prior to the Determination Date in each Grouprespect of the preceding Collection Period, that were separately stating the subject amounts received in respect principal and interest and reporting separately, the amounts received in respect of scheduled principal payments and the amounts representing Principal Prepayments during the Due PeriodPrepayments;
(iv) The amount of all Curtailments in each Group that were received during repaid by the Due PeriodSeller or Master Servicer (reported separately) pursuant to Sections 2.2, 2.6 or 3.1;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Groupwith respect to such Distribution Date;
(viiivi) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates Principal Distribution for the Distribution Date with the components thereof stated separatelyseparately and the Class Interest Distribution for the Distribution Date and for each Class, stating separately the components thereof; and the Class B-IO Distribution Amount for such Distribution Date, separately stating the components thereof;
(xvii) The amount, if any, of the Outstanding Class Interest Carryover Shortfall and Outstanding Class A Principal Carryover Shortfall for each Class after giving effect to the distributions on such Distribution Date;
(viii) The amount of the Insured Amounts for each GroupPayment, if any, to be paid made on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xiiix) The Class A Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Class A Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiiix) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each GroupRate;
(xivxi) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer Insurer, separately stated, pursuant to Section 5.01Sections 5.1(a)(i)(D), 5.1(a)(ii)(A) and 5.1(a)(ii)(B);
(xvxii) The amount of all payments or reimbursements to the Master Servicer pursuant to Section 3.033.3;
(xvixiii) The Pool Factor for each Group determined using the balances in subclause (iix) above, computed to six (6) decimal places;
(xviixiv) The amountO/C Amount, if anythe O/C Reduction Amount, transferred from the Simple Interest Excess Account to O/C Amount and the Specified O/C Amount for the Distribution Account pursuant to Section 5.03 Date and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01such Distribution Date;
(xixxv) The amounts which are reimbursable amount of Distributable Excess Spread to be distributed to the Servicer or the Seller, as appropriate, Class A Certificateholders on such Distribution Date pursuant to Section 5.01(a)(ivSections 5.1(a)(i)(E) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix)on such Distribution Date;
(xxxvi) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Collection Period;
(xvii) The aggregate Liquidation Loss Amount, if any, for the preceding Collection Period, the cumulative Total Losses and the Rolling Three Month Delinquency Rate;
(xviii) The Aggregate Loan Balance, as of the end of the Collection Period related to such Distribution Date;
(xix) The number and aggregate Principal Balances of Mortgage Loans (w) as to which the Monthly Payment is delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (x) that have become REO, in each case as of the end of the preceding Collection Period, (y) that are in foreclosure, and (z) the Mortgagor of which is the subject of any bankruptcy or insolvency proceeding;
(xx) The unpaid principal amount of all Mortgage Loans that became Liquidated Mortgage Loans during such Collection Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution DateNet Liquidation Proceeds received during such Collection Period;
(xxii) The amount book value (within the meaning of losses experienced on the Mortgage Loans 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage lieu of the related Cut-Off Date Principal Balance;foreclosure; and
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect Such other information as is required by the Code and regulations thereunder to all distributions on such Distribution Date;
(xxiv) The amount be made available to Holders of Class Interest Carryover Shortfall relating to each Class of the Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make forward such report available to the Master Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Certificateholders and the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Master Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s 's Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Master Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses subclause (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Class A or Class B-IO Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (vi) and (vii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Residual Certificateholders a copy of the reports forwarded to the Class A and Class B-IO Certificateholders in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Residual Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Master Servicer and the Trustee shall furnish to each Certificateholder and to the Certificate Insurer (if requested in writing), during the term of this Agreement, such periodic, special, or other reports or information, whether or not provided for herein, as shall be necessary, reasonable, or appropriate with respect to the Certificateholder or the Certificate Insurer, as the case may be, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder or the Certificate Insurer, as the case may be, may reasonably require; provided, that the Master Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder or the Certificate Insurer, as the case may be, for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer tapes furnished by the Master Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent provided in this Agreement and to the extent required by law or to the Rating Agencies, the Depositor, the Certificate Insurer's reinsurer, parent, regulators, liquidity providers and auditors and to the extent the Seller instructs the Trustee in acting to furnish information regarding the Trust or the Mortgage Loans to third-party information providers. No Person entitled to receive copies of such reports or tapes or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (First Union Residential Securitization Transactions Inc)
Statements. (a) Not later than 12:00 noon 1:00 p.m., California time time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic modem a computer tape file containing the information set forth on Exhibit D as to each Mortgage Loan called for by clauses (i) through (xxv) below as of such the end of the preceding Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon 1:00 p.m., California time time, on the each Determination Date, the Trustee shall deliver to the Servicer, the Depositor Certificate Insurer and to the Certificate Insurer, Seller by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a confirmation of the items in clause (i) below. Not later than one Business Day prior to each Distribution Date the Trustee shall deliver a statement (the “"Trustee’s 's Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification or calculation thereof:
(i) The Group 1 and Group 2 Available Funds for each Certificate Group and each Class's Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest for each Loan Group paid as principal;
(vi) the Servicing Fee, the Premium Amount and the Reimbursement Amount;
(vii) the Loan Group Balance of each Loan Group and the Pool Balance, in each case as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) the amount of the Insured Payments, if any, to be made on such Distribution Date;
(xi) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, Loan Group that were the subject of Principal Prepayments during the Due Period;
(ivxii) The amount of all Curtailments in each Loan Group that were received during the Due Period;
(vxiii) The principal portion of all Monthly Payments for in each Loan Group received during the Due Period;
(vixiv) The amount interest portion of interest all Monthly Payments in each Loan Group received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The For each Certificate Group, the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiiixvii) The weighted average remaining term to maturity of the Mortgage Loans in each Loan Group and the weighted average Loan Rate in each GroupRate;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xvxviii) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Loan Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxiixx) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for Loan Losses and the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) For each Loan Group, as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) any LIBOR Carryover distributed and any remaining LIBOR Carryover;
(xxiii) The Class A-2 Available Funds CarryforwardFor each Loan Group, if anythe number and aggregate Principal Balance of Mortgage Loans, after giving effect to all distributions on such Distribution Dateother than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period;
(xxiv) The amount of Class Interest Carryover Shortfall relating to For each Class of Class A Certificates and Pre-Funding Distribution Date, the Class Aremaining Allocated Pre-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalFunded Amount; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred The amount of Class B Cap Carryover distributed to the Class B Certificates and specifying the details thereofamount of Class B Cap Carryover remaining. The Trustee shall make forward such report available to the Servicer, the Depositor, the CertificateholdersSeller, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at 499 Park Avenue, New York, New York 10022, Attention: Mike Geller) ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ (▇▇ ▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇e, Attention: [________]) on its internet website located at “▇▇▇.Needham, M▇▇▇▇▇▇▇▇▇▇▇s 02144, Attention: Harold ▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇ ▇▇-▇ ▇▇▇▇. Parties ▇▇▇▇▇▇▇▇ ▇▇▇▇; ▇▇▇▇▇▇▇▇, ▇owever, that are unable ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ll remove from the report the Premium Amount to use be paid to the above distribution method are entitled Certificate Insurer prior to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward submission to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Dateand Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. The Servicer shall calculate all items in clauses (i) - (xxv) above. To the extent that there are inconsistencies between the telecopy of the Trustee’s 's Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to each Certificateholder and to the Certificate Insurer (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or to the Certificate Insurer or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder or the Certificate Insurer may reasonably require; PROVIDED that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder or the Certificate Insurer for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or for the internal use of the Certificate Insurer and its counsel or to the Rating Agencies, the Certificate Insurer's reinsurers, parent, regulators, liquidity providers and auditors, PROVIDED that the Certificate Insurer shall attempt in good faith to cause such additional Persons to acknowledge in writing the foregoing restrictions, and in connection with the purposes and requirements of this Agreement. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Funding Corp /De/)
Statements. (a) Not later than 12:00 noon California time noon, New York time, on the fourth Business Day following the last day of a Due Periodeach Determination Date, the Master Servicer shall deliver to the Trustee Trust Administrator a computer tape monthly report (the "Monthly Report") in a form and format mutually agreeable to the Master Servicer and the Trust Administrator containing the information set forth on in Exhibit D C hereto as to each Mortgage Loan as of such the end of the preceding Due Period and such other information as the Trustee Trust Administrator shall reasonably require, including, without limitation, all information necessary to enable the Trust Administrator to make the payments required by Section 4.01(a). Not later than 12:00 noon California time on Each Monthly Report shall be an Officer's Certificate. On the Determination Business Day preceding the Distribution Date, the Trustee Trust Administrator shall deliver make available to the Servicer, Master Servicer and the Depositor and to the Certificate InsurerDepositor, by telecopy, with a hard copy thereof to be delivered on the succeeding such Distribution Date, a statement (the “Trustee’s "Trust Administrator's Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Funds, the Net WAC Cap and, for the Class A-1 Certificates, the Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and Balance, the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Trust Administrator's Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Principal Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Pool Principal Balance of the Mortgage Loans in each GroupBalance;
(iii) The aggregate amount of collections received on the Mortgage Loans during the related Due Period, separately stating the amounts received in respect of principal and interest;
(iv) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the related Due Period;
(v) The principal portion amount of all Monthly Payments for each Group Curtailments that were received during the Due Period;
(vi) The amount principal portion of interest all Monthly Payments received on during the Mortgage Loans in each GroupDue Period;
(vii) The amount interest portion of the all Monthly Advances and the Compensating Interest payment to be made Payments received on the Determination Date for each GroupMortgage Loans during the Due Period;
(viii) The delinquency and foreclosure information set forth in amount required to be paid by the form attached hereto as Exhibit LOriginators or the Seller (reported separately) pursuant to Sections 2.02, 2.04 or 2.06;
(ix) The Remittance Amount Class A Principal Distribution, the Class M-1 Principal Distribution and Class M-2 Principal Distribution for the related Distribution Date, the portion thereof to be distributed on each Class of Certificates then entitled to distributions of principal and the Class A and Class A-IO Certificates Monthly Interest Distribution Amount for the related Distribution Date with the components thereof stated separatelyto be distributed on each Class of Certificates;
(x) The amount of the Insured Amounts for each Groupamount, if any, of any Net WAC Carryover and the Outstanding Class Interest Carryover Shortfall for each Class after giving effect to the distributions to be paid made on the related Distribution Date;
(xi) The amount Class Principal Balance of each Class after giving effect to the distributions to be distributed to made on the Class R Certificateholders for the related Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each GroupRate;
(xivxiii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01Master Servicer;
(xvxiv) The amount of all payments or reimbursements to the Master Servicer pursuant to Section 3.03;
(xvixv) The Pool Factor Overcollateralization Amount, the Overcollateralization Deficiency, the Overcollateralization Release Amount, the Target Overcollateralization Amount and the Remaining Excess Spread for each Group determined using the balances in subclause (ii) abovesuch Distribution Date;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xxxvi) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixvii) The amount on deposit in each sub-account Pool Principal Balance as of the Spread Account after end of the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xviii) The number and aggregate Principal Balance of Mortgage Loans (w) as to which the Monthly Payment is delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (x) that have become REO Properties, in each case as of the end of the related Due Period, (y) that are in foreclosure and (z) the Mortgagor of which is the subject of any bankruptcy or insolvency proceeding;
(xix) The unpaid Principal Balance of all Mortgage Loans that became Liquidated Mortgage Loans during such Due Period;
(xx) The Net Liquidation Proceeds received during such Due Period;
(xxi) The book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure;
(xxii) Whether a Trigger Event has occurred or is continuing;
(xxiii) Such other information as is required by the Code and regulations thereunder to be made available to Holders of the Regular Certificates;
(xxiv) For so long as AGFC is the Master Servicer, the Rating Agencies ratings of the long-term unsecured debt of the Master Servicer;
(xxv) The amount of Class Prepayment Interest Carryover Shortfall relating to each Class Shortfalls for the Due Period;
(xxvi) The 60+ Delinquency Percentage (Rolling Three Month) as of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalDistribution Date; and
(xxvxxvii) Whether a The number and aggregate Principal Balance of all Mortgage Loans purchased by the Master Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred pursuant to Section 3.16 for (i) the related Due Period and specifying (ii) for all Due Periods since the details thereofCut-Off Date. The Trustee Trust Administrator shall make available such report available concurrently with each distribution to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, Certificateholders and the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee Trust Administrator may fully rely upon and shall have no liability with respect to information provided by the Master Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (ix), (x) and (ixxii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall furnish to each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclause (xxiv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trust Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trust Administrator shall forward to the Transferor a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trust Administrator deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall deliver to each Person who at any time during the calendar year was a Transferor, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Transferor. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trust Administrator pursuant to any requirements of the Code as from time to time in force.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (American General MRT Ln Asst BCKD Ps THR CRTS Sr 2003-1)
Statements. Not later than 12:00 noon California time on the fourth Business Day following the last day of (a) The Sponsor shall prepare and deliver a Due Period, the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a settlement statement (the “Trustee’s Remittance ReportStatement”) containing the information set forth below (to the extent Supplier, within ten (10) Business Days after the end of each calendar month in the Term that is the subject of the Statement (the “Settlement Month”), setting out the basis for the Monthly Payment with respect to the Settlement Month, as well as the basis for any such information other payments owing under this Agreement by either Party to the other in the Settlement Month. A Statement may be delivered by the Servicer pursuant Sponsor to the first sentence Supplier by facsimile or electronic means and shall include the reference number assigned to this Agreement by the Sponsor and a description of the components of the Monthly Payment and other payments, as described in this Agreement, including Section 5.01(a4.2 as applicable, owing to the Supplier for the Settlement Month.
(b) The Supplier shall, promptly following receipt from the System Operator or LDC, as applicable, of the necessary information to calculate the Regulatory Charge Credit in respect of a Settlement Month, forward such information to the Sponsor, along with a draft calculation of the Regulatory Charge Credit in the Prescribed Form.
(c) The Sponsor’s calculation of the Regulatory Charge Credit shall be included in the Statement for the Settlement Month in which all information reasonably required by the Sponsor to calculate the Regulatory Charge Credit has been so delivered) with respect received by the Sponsor, and shall be paid on the Payment Date corresponding to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) Statement. The amount of the Regulatory Charge Credit that is due on a given Payment Date shall be added to (or subtracted from, as the case may be), the applicable Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth Payment, except in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount respect of the Insured Amounts for each Groupfinal payment(s) of the Regulatory Charge Credit, which may occur after the last Monthly Payment has been made. For greater certainty, if any, all information required by the Sponsor to be paid on calculate the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at Regulatory Charge Credit has not been received by the end of a given Settlement Month, the related Due Period;
(xxi) The amount on deposit in each sub-account payment of the Spread Account after Regulatory Charge Credit shall not be made until the Distribution Date;
(xxii) The amount of losses experienced on Payment Date corresponding the Mortgage Loans Settlement Month in each Group during the preceding Due Period which all such information has been received, and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to no interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇accrue thereon.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
Appears in 1 contract
Sources: Energy Storage Facility Agreement
Statements. (a) Not later than 12:00 noon California time on the fourth 5:00 p.m. one Business Day following the last day of a Due Period, the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as prior to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Payment Date, the Trustee Master Servicer shall deliver make available to the ServicerIndenture Trustee and the Yield Maintenance Counterparty, and concurrently with each distribution to Securityholders, the Depositor Master Servicer shall make available to each Securityholder, the Seller, the Owner Trustee and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Dateeach Rating Agency, a statement based solely on loan-level information provided to it by the Servicers (the “Trustee’s Remittance ReportPayment Date Statement”) containing as to the distributions to be made or made, as applicable, on such Payment Date. Information in the Payment Date Statement relating to or based on amounts available in the Yield Maintenance Account shall be based on information set forth below provided by the Yield Maintenance Counterparty regarding any required Net Yield Maintenance Payments to be made by the Issuer or any Net Yield Maintenance Amounts or Yield Maintenance Amounts required to be paid by the Yield Maintenance Counterparty for the related Payment Date pursuant to the Yield Maintenance Agreements. The Indenture Trustee shall confirm to the Master Servicer receipt of any Net Yield Maintenance Amounts or Yield Maintenance Amounts in the Yield Maintenance Account on the Business Day immediately preceding such Payment Date. The Payment Date Statement will include the following:
(i) the aggregate amount of the payment to be made on such Payment Date to the Holders of each Class of Notes, to the extent any such information applicable, allocable to principal;
(ii) the aggregate amount of the payment to be delivered by the Servicer pursuant made on such Payment Date to the first sentence Holders of this Section 5.01(aeach Class of Notes allocable to interest and the calculation thereof;
(iii) has been so deliveredthe amount, if any, of any distribution to the Holders of the Trust Certificate;
(A) the aggregate amount of any Monthly Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Payment Date, (B) the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The aggregate amount of all Curtailments in each Group that were received during such Monthly Advances actually made, and (C) the Due Periodamount, if any, by which (A) above exceeds (B) above;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The total number of Mortgage Loans in the aggregate and the aggregate Scheduled Principal Balance in the aggregate and separately for each Group outstanding of the Three-Year, Five-Year, Seven-Year and Ten-Year Hybrid Mortgage Loans, in each case at the beginning and close of business at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of Period and the Spread Account after the Distribution Net Funds Cap for such Payment Date;
(xxiivi) The the Class Principal Amount of each Class of Notes, to the extent applicable, as of such Payment Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Note Principal Amounts due to Applied Loss Amounts;
(vii) the amount of losses experienced on any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date;
(viii) the amount of the Master Servicing Fees, Servicing Fees and Indenture Trustee Fees, if any, paid during the Due Period to which such distribution relates;
(ix) the number and aggregate Scheduled Principal Balance of Mortgage Loans, (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, (c) delinquent 90 or more days on a contractual basis, (d) as to which foreclosure proceedings have been commenced in the month in which such Payment Date occurs, in each Group during case as of the close of business on the last Business Day of the calendar month immediately preceding, (e) in bankruptcy and (f) that are REO Properties;
(x) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding Due Period and the cumulative losses for the month in which such Payment Date occurs;
(xi) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Group as a percentage Deleted Mortgage Loan, and of the related Cut-Off Date Principal Balanceeach Qualified Substitute Mortgage Loan;
(xxiiixii) The Class A-2 Available Funds Carryforwardthe aggregate outstanding Deferred Amounts, Carryforward Interest, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Notes, after giving effect to all distributions payments made on such Distribution Payment Date;
(xxivxiii) The amount of Class the Note Interest Carryover Shortfall relating Rate applicable to such Payment Date with respect to each Class of Class A Certificates Notes;
(xiv) the Interest Remittance Amount and the Class A-IO CertificatesPrincipal Remittance Amount applicable to such Payment Date;
(xv) the Monthly Excess Interest and Monthly Excess Cashflow for such Payment Date;
(xvi) the Overcollateralization Amount, separately stating the amount that is allocable to each such Class Overcollateralization Deficiency, if any, the Principal Payment Amount and the amount allocable to interest and principalExtra Principal Payment Amount for such Payment Date; and
(xxvxvii) Whether the level of LIBOR and any Net Yield Maintenance Payments being made by the Issuer expressed as a Servicer Termination Delinquency Event or dollar amount and as a Servicer Termination Loss Event has occurred per annum rate which reduced the Net Funds Cap and specifying any Net Yield Maintenance Amounts and Yield Maintenance Amounts being paid by the details thereofYield Maintenance Counterparty for such period and the notional balances on each Yield Maintenance Agreement for such Payment Date. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall also be expressed as a dollar amount per $1,000 of original principal amount of Notes. The Trustee shall Master Servicer will make such report the Payment Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders and the other parties to this Agreement via the Master Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its ’s internet website. The Master Servicer’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the TrusteeMaster Servicer’s investor relations customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method option are entitled to have a paper copy mailed to them via first class mail by calling the investor relations customer service desk and indicating such. In additionThe Master Servicer shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, together with and the Master Servicer shall provide timely and adequate notification to all parties regarding any such reportchange.
(b) Within a reasonable period of time after the end of each calendar year, the Indenture Trustee shall, upon written request, furnish to each Person who at any time during the calendar year was a Securityholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing aggregate payment information necessary to enable Holders of the Securities to prepare their tax returns. Such obligation of the Indenture Trustee shall forward be deemed to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect been satisfied to information provided by the Servicer. To the extent that there are inconsistencies between substantially comparable information shall be prepared and furnished by the telecopy Indenture Trustee to Securityholders pursuant to any requirements of the Trustee’s Remittance Report and the hard copy issued upon request Code as are in force from time to time.
(pursuant to the preceding paragraphc) thereofOn each Payment Date, the Master Servicer may rely upon the latter. In the case of information furnished pursuant shall supply an electronic tape to subclauses (ii) and (ix) aboveBloomberg Financial Markets, the amounts shall be expressed Inc. in a separate section of the report as format acceptable to Bloomberg Financial Markets, Inc. on a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Datemonthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions in a format acceptable to Loan Performance and Intex Solutions on a monthly basis.
Appears in 1 contract
Sources: Sale and Servicing Agreement (Structured Asset Sec Corp Thornburg Mort Sec Trust 2003 6)
Statements. Not later than 12:00 noon California time a. Within fifteen (15) days of the date Buyer receives the audited financial statements of Buyer that include the operations of the Company for a period described in Section 2, above, Buyer shall deliver to Seller a statement setting forth in reasonable detail a calculation of the Company’s Organic EBITDA, together with reasonable supporting documentation therefor, for the applicable periods set forth in Section 2 (the “Statement”). The Statement shall become final and binding upon the parties on the fourth fifteenth (15th) Business Day following the last day of a Due Period, the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy delivery thereof to Seller and shall be delivered on used in computing the succeeding Distribution Dateamount of the Earn-Out Payments, a statement unless Seller delivers written notice of its disagreement with the Statement (the “Trustee’s Remittance ReportNotice of Earn-Out Disagreement”) containing to Buyer within fifteen (15) Business Days of the information set forth below date of Seller’s receipt of the Statement, which Notice of Earn-Out Disagreement shall specify in reasonable detail Seller’s specific objections (including specific amounts, to the extent known) to the Statement together with reasonable supporting documentation therefor, including alternative calculations, schedules and spreadsheets.
b. In the event Seller delivers a Notice of Earn-Out Disagreement in accordance with Section 3 of this Annex A, the Dispute Resolution Procedures set forth in Section 2.04(c) of the Agreement shall be followed in resolving any objections specified in such information Notice of Earn-Out Disagreement. The parties’ sole recourse in the event of a dispute in respect of the Earn-Out Payments hereunder and the requirements of this Annex A shall be limited to the application of the Dispute Resolution Procedures in accordance with this Annex A, except that Buyer, the Company or Seller may initiate litigation in accordance with Section 8.10 of the Agreement solely to the extent it becomes necessary for such party to enforce the obligations of the other parties under this Annex A as determined by the Independent Accountant in accordance with the Dispute Resolution Procedures. In the event it becomes necessary for any of Buyer, the Company or Seller to initiate litigation to enforce the obligations of the other parties under this Annex A as determined by the Independent Accountant in accordance with the Dispute Resolution Procedures, the party prevailing in the outcome of such litigation shall be entitled to recover from the opposing party such prevailing party’s reasonable costs and expenses associated with such litigation, including reasonable attorneys’ fees.
c. The parties acknowledge and agree that Buyer shall cause the Company to be delivered managed and operated in good faith and in a manner that is not intended to frustrate Seller’s ability to earn the Earn-Out Payments. For avoidance of doubt, during the periods described in Section 2, above, Buyer shall not, and shall cause the Company to not, direct or redirect any business, including, but not limited to, any product or service line, currently engaged in or offered by the Servicer Company to Buyer, any current or future Affiliate of Buyer or Live Ventures, Inc., or to any third- party. Upon a change-of-control of the Company or Buyer pursuant to items (ii) or (iii) of the first sentence definition of “Change-of-Control” as defined in the Promissory Note, Seller shall be deemed to have automatically earned a final Earn-Out Payment in an amount equal to the amount determined by subtracting (a) the amount of Earn-Out Payments paid to Seller prior to the date of the Change- of-Control of the Company from (b) the maximum amount of potential of Earn-Out Payments described in Section 2 of this Section 5.01(aAnnex A, which amount Buyer shall pay to Seller in immediately available funds concurrent with the change-of-control of the Company or Buyer.
d. Subject to the foregoing, Buyer, including the Company, shall have discretion with respect to the operation of the Company’s business, including (A) has been so deliveredthe marketing, pricing and distribution of all of the Company’s products and services, (B) the procurement of raw materials, supplies and services, and (C) the hiring and termination of employees, consultants, independent contractors and other advisors. Except as expressly provided herein, neither Buyer nor the Company shall owe any duty (fiduciary or otherwise) to Seller Parties in respect of the Earn-Out Payments; provided, however, that neither Buyer nor the Company shall take any action in bad faith with the sole and express intention of reducing the value of the Earn-Out Payments. Seller Parties further acknowledge and agree that the amount of the Earn-Out Payments is contingent on the performance of the business of the Company and there is no guaranteed minimum Earn-Out Payment under the Agreement or this Annex A. Seller and Seller Individual hereby agree that Buyer does not make any representation and expresses no opinion as to the value of the potential Earn- Out Payments, if any, and all warranties (whether written or oral, express or implied) with respect to such Distribution Date:
or relating to the Earn-Out Payments are expressly excluded. Notwithstanding the other terms of this Annex A or the Agreement, nothing contained in this Annex A or the Agreement shall be deemed to preclude Seller Parties from (i) The Group 1 and Group 2 Available Funds and each Certificate Rate for enforcing the related Distribution Date;
terms of this Section 3(d) and/or (ii) The Class Principal Balance submitting a Notice of each Class Earn-Out Disagreement based on a breach by Buyer of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to this Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix3(d);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
Appears in 1 contract
Statements. Not later than 12:00 noon California time on the fourth Business Day following the last day of a Due Period, the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to (a) On each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Distribution Date, the Trustee shall deliver prepare and make available to each Holder of the Regular Certificates, the Master Servicer, the Depositor and to the Certificate Class I-A4 Insurer, by telecopythe NIMS Insurer, with a hard copy thereof the indenture trustee under the Indenture and the Rating Agencies, and two Business Days prior to be delivered on the succeeding each Distribution Date, the Trustee shall prepare and make available to the Swap Counterparty and any designee of the Swap Counterparty, a statement by electronic medium (the “Trustee’s Remittance Report”) containing the information as set forth below (to in the extent any such information to be delivered by the Servicer pursuant to the first sentence penultimate paragraph of this Section 5.01(a) has been so delivered) with respect 4.03(a)), based on information provided to the Trustee by the Master Servicer, the Cap Provider or the Swap Counterparty as to the distributions made on such Distribution Date:
(i) The Group 1 the amount of the distribution made on such Distribution Date to the Holders of each Class of Regular Certificates, separately identified, allocable to principal and Group 2 Available Funds the amount of the distribution made to the Holders of the Class P Certificates allocable to Prepayment Charges and Master Servicer Prepayment Charge Payment Amounts;
(ii) the amount of the distribution made on such Distribution Date to the Holders of each Certificate Rate Class of Regular Certificates (other than the Class P Certificates), allocable to interest, separately identified;
(iii) the Overcollateralized Amount, the Overcollateralization Release Amount, the Overcollateralization Deficiency Amount and the Overcollateralization Target Amount as of such Distribution Date and the Excess Overcollateralized Amount for the related Mortgage Pool, for such Distribution Date;
(iiiv) The Class Principal Balance of each Class of Class A Certificates by Loan Group and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant aggregate amount of servicing compensation received by the Master Servicer with respect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of Due Period and such other customary information as the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each GroupTrustee deems necessary or desirable, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Periodor which a Certificateholder reasonably requests, to enable Certificateholders to prepare their tax returns;
(v) The principal portion of all Monthly Payments the Group I Interest Remittance Amount and the Group II Interest Remittance Amount and the Group I Principal Remittance Amount and the Group II Principal Remittance Amount for each Group received during the Due Periodsuch Distribution Date;
(vi) The the aggregate amount of interest received Advances for the related Due Period, the amount of unrecovered Advances (after giving effect to Advances made on the Mortgage Loans in each GroupDistribution Date) outstanding and the amount of Nonrecoverable Advances for such Distribution Date;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class aggregate Stated Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and Group I Mortgage Loans, the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Group II Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and Close of Business at the end of the related Due Period;
(xxiviii) The amount on deposit the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Determination Date;
(ix) by Loan Group and in the aggregate, the number and aggregate unpaid principal balance of Mortgage Loans (a) delinquent 30-59 days, (b) delinquent 60-89 days, (c) delinquent 90 or more days in each sub-account case, as of the Spread last day of the preceding calendar month provided, however that any aggregate unpaid principal balance of Mortgage Loans shall be reported as of the last day of the related Due Period, (d) as to which foreclosure proceedings have been commenced and (e) with respect to which the related Mortgagor has filed for protection under applicable bankruptcy laws, with respect to whom bankruptcy proceedings are pending or with respect to whom bankruptcy protection is in force;
(x) with respect to any Mortgage Loan that became an REO Property during the preceding Prepayment Period, the unpaid principal balance and the Principal Balance of such Mortgage Loan as of the date it became an REO Property;
(xi) the total number and cumulative principal balance of all REO Properties as of the Close of Business of the last day of the preceding Prepayment Period;
(xii) by Loan Group and in the aggregate, the aggregate amount of Principal Prepayments made during the related Prepayment Period;
(xiii) by Loan Group and in the aggregate, the aggregate amount of Realized Losses incurred during the related Prepayment Period and the cumulative amount of Realized Losses;
(xiv) the aggregate amount of Extraordinary Trust Fund expenses withdrawn from the Collection Account after or the Distribution Account for such Distribution Date;
(xxiixv) The amount the Certificate Principal Balance of losses experienced on the Mortgage Loans in each Group during Class A Certificates, the preceding Due Period Mezzanine Certificates, the Class B Certificates and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if anyC Certificates, after giving effect to all the distributions made on such Distribution Date (separately identifying any reduction thereof due to the receipt of Insured Payments in respect of principal in the case of the Class I-A4 Certificates), and the Notional Amount of the Class C Certificates, after giving effect to the distributions made on such Distribution Date;
(xvi) the Monthly Interest Distributable Amount in respect of the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Unpaid Interest Shortfall Amount, if any, with respect to the Class A Certificates, the Mezzanine Certificates and the Class B Certificates for such Distribution Date;
(xvii) by Loan Group and in the aggregate, the aggregate amount of any Net Prepayment Interest Shortfalls for such Distribution Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.24, and the aggregate amount of any Relief Act Interest Shortfalls for such Distribution Date;
(xviii) the Credit Enhancement Percentage for such Distribution Date;
(xix) the related Net WAC Rate Carryover Amount for the Class A Certificates, the Mezzanine Certificates and the Class B Certificates, if any, for such Distribution Date and the amount remaining unpaid after reimbursements therefor on such Distribution Date;
(xx) the Trustee Fee on such Distribution Date;
(xxi) whether a Stepdown Date, a Trigger Event, a Sequential Trigger Event or a Group II Sequential Trigger Event has occurred;
(xxii) the Available Funds;
(xxiii) the respective Pass-Through Rates applicable to the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates for such Distribution Date and the Pass-Through Rate applicable to the Class A Certificates, the Mezzanine Certificates and the Class B Certificates for the immediately succeeding Distribution Date;
(xxiv) The by Loan Group and in the aggregate, the Principal Balance of Mortgage Loans repurchased by the Seller;
(xxv) any other information that is required by the Code and regulations thereunder to be made available to Certificateholders;
(xxvi) the amount on deposit in the Reserve Fund;
(A) the dollar amount of Class Interest Carryover Shortfall relating payments received related to claims under the PMI Policy during the related Prepayment Period (and the number of Mortgage Loans to which such payments related) and (B) the aggregate dollar amount of payments received related to claims under the PMI Policy since the Cut-off Date (and the number of Mortgage Loans to which such payments related);
(xxviii) (A) the dollar amount of claims made under the PMI Policy that were denied during the related Prepayment Period (and the number of Mortgage Loans to which such denials related) and (B) the aggregate dollar amount of claims made under the PMI Policy that were denied since the Cut-off Date (and the number of Mortgage Loans to which such denials related);
(xxix) for such Distribution Date, the amount of any payment made by the Cap Provider under each of the Cap Agreements;
(xxx) the amount of Subsequent Recoveries and Gross Subsequent Recoveries for the related Prepayment Period and the cumulative amount of Subsequent Recoveries and Gross Subsequent Recoveries in the aggregate and for each of Loan Group I and Loan Group II;
(xxxi) the Swap Counterparty Payment, the Swap Fee Amount, the unpaid Swap Termination Payment payable by the Trust, the unpaid Swap Termination Payment payable by the Swap Counterparty, the Swap Termination Payment payable by the Trust paid on such Distribution Date, the Swap Termination Payment payable by the Swap Counterparty paid on such Distribution Date and the Swap Reimbursement Amount for such Distribution Date and any unpaid Gross Swap Reimbursement Amount and Swap Fee Amounts from prior Distribution Dates;
(xxxii) the Group I Final Maturity Reserve Amount, the Group II Final Maturity Reserve Amount, the Aggregate Final Maturity Reserve Amount and the aggregate amount on deposit in the Final Maturity Reserve Account for such Distribution Date and on the earlier of the Distribution Date in November 2035 and the termination of the Trust Fund, the amount distributed to each Class of Class A the Certificates and from the Class A-IO CertificatesFinal Maturity Reserve Account;
(xxxiii) with respect to each Mortgage Loan prepaid in full or in part during the related Prepayment Period, separately stating whether the Prepayment Charge is required with respect to such Mortgage Loan, the amount that is allocable to each of such Class Prepayment Charge and the amount allocable actually collected with respect to interest and principalsuch Prepayment Charge;
(xxxiv) the amount of any draw to be made on the Class I-A4 Policy for such Distribution Date; and
(xxvxxxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred all amounts paid to the Class I-A4 Insurer in respect of the Class I-A4 Premiums and specifying in respect of the details thereofClass I-A4 Reimbursement Amount for such Distribution Date. The Trustee shall make such report statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, the Master Servicer, the Depositor, the Certificateholders, the Certificate Class I-A4 Insurer, the NIMS Insurer, the Cap Provider, the Swap Counterparty and the Rating Agencies and Bloomberg (via the Trustee’s internet website. The Trustee’s internet website shall initially be located at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date/invr. Assistance in using the website can be obtained by calling the Trustee’s investor relations customer service desk at (▇-▇▇▇) -▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method options are entitled to have a paper copy mailed to them via first class mail by calling the investor relations customer service desk and indicating such. In addition, together with The Trustee shall have the right to change the way such report, statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall forward provide timely and adequate notification to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latterall above parties regarding any such changes. In the case of information furnished pursuant to subclauses (iii) and through (ixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Closing Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall, upon written request, furnish to the Class I-A4 Insurer and each Person who at any time during the calendar year was a Certificateholder of a Regular Certificate, if requested in writing by the Class I-A4 Insurer or such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (i) through (ii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Holders of the Residual Certificates and the NIMS Insurer a copy of the reports forwarded to the Regular Certificateholders in respect of such Distribution Date with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Holder of a Residual Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Holder of a Residual Certificate. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) On each Distribution Date the Trustee shall provide Bloomberg Financial Markets, L.P. (“Bloomberg”) CUSIP level factors for each Class of Certificates as of such Distribution Date, using a format and media mutually acceptable to the Trustee and Bloomberg.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2005-Wl3)
Statements. Not later than 12:00 noon California time on Lessee shall furnish the fourth Business Day following statements ---------- to Lessor within thirty (30) days after Lessor's written request therefor, except for the last day of a Due Periodstatements required by subsections (a), the Servicer (c), (e), (f) and (g) below, which shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D be provided as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Datewhen required:
(ia) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each within 120 days after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the fiscal year of each of the following Persons, as applicable, a copy of (i) the audited Consolidated Financials of Kindred Healthcare, Inc. and its consolidated Subsidiaries as of the end of the most recent ended fiscal year, and related Due Periodaudited consolidated statements of income, changes in common stock and other stockholders' equity and changes in the financial position of Kindred Healthcare, Inc. and its consolidated Subsidiaries for such fiscal year, prepared in accordance with GAAP, such Consolidated Financial statements to be certified by nationally recognized certified public accountants; and (ii) if prepared and made available to creditors of Kindred Healthcare, Inc. or any other Guarantor and/or Lessee, audited (or if prepared, but unaudited and made available to other creditors, unaudited) Consolidated Financials of any such other Guarantor, Lessee and any other material Subsidiary of Kindred Healthcare, Inc. (i.e., a Subsidiary of Kindred Healthcare, Inc. which generates Fifteen Percent (15%) or more of the consolidated revenues of Kindred Healthcare, Inc.) and each of their consolidated Subsidiaries as of the end of the most recently ended fiscal year, and related audited (if prepared, but unaudited, unaudited) consolidated statements income, changes in common stock or membership interests and other stockholders' or members' equity and changes in the financial position of any such other Guarantor, Lessee and/or such a material Subsidiary of Kindred Healthcare, Inc. and their consolidated Subsidiaries for such fiscal year, prepared in accordance with GAAP;
(xxib) The amount on deposit in each sub-account an Officer's Certificate of Lessee stating that to the best of the Spread Account signer's knowledge and belief after making due inquiry, Lessee is not in default in the Distribution Dateperformance or observance of any of the terms of this Lease, or if Lessee shall be in default, specifying all such defaults, the nature thereof, and the steps being taken to remedy the same;
(xxiic) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage last eighteen (18) months of the related Cut-Off Date Principal BalanceTerm, within thirty (30) days after the same are required to be submitted or delivered to the appropriate governmental agency for such Facility, all monthly consolidated financial reports Lessee produces for reporting purposes and detailed statements of income and detailed operational statistics regarding occupancy rates, patient and resident mix and patient and resident rates by type for each Facility; and during all other periods during the Term, within thirty (30) days after the same are required to be submitted or delivered to the appropriate governmental agency for such Facility, all quarterly consolidated financial reports Lessee produces for reporting purposes and detailed statements of income and detailed operational statistics regarding occupancy rates, patient and resident mix and patient and resident rates by type for each Facility for Lessee's most recently ended quarter;
(xxiiid) The Class A-2 Available Funds Carryforwardwithin thirty (30) days after the same are required to be submitted or delivered to the appropriate governmental agency for such Facility, if any, after giving effect copies of the then most recent cost report for each Facility which is required to all distributions on be filed or submitted with the appropriate governmental agency for such Distribution DateFacility;
(xxive) The amount within thirty (30) days after the same are required to be filed, copies of Class Interest Carryover Shortfall the most recent annual reports and of information, documents and other reports, or copies of such portions of any of the foregoing as the SEC may prescribe in connection therewith and which Lessee or Guarantor is required to file with the SEC pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934;
(f) within thirty (30) days after receipt of the same, copies of all written communications received by Lessee from any regulatory agency relating to each Class (i) surveys of Class A Certificates any Facility for purposes of licensure, Medicare and the Class A-IO CertificatesMedicaid certification and accreditation (including plans of correction) and (ii) any proceeding, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event formal or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicerinformal, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information cited deficiencies with respect to services and activities provided by and performed at any Facility, including patient and resident care, patient and resident activities, patient and resident therapy, dietary, medical records, drugs and medicines, supplies, housekeeping and maintenance, or the Servicercondition of any Facility. To the extent that there are inconsistencies between the telecopy Within three (3) days of receipt of the Trustee’s Remittance Report same, copies of all written communications received by Lessee from any regulation agency and the hard copy issued upon request (pursuant involving an actual warning, imposition of a fine or a penalty, or suspension, termination or revocation of any Facility's license to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed operated in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.accordance with its Primary Intended Use;
Appears in 1 contract
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means and to the Certificate Insurer via e-mail at ▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇, a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) through (xxvii) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require, and the Seller hereby agrees to provide the Trustee and the Servicer with an amended Prepayment Charge Schedule, if required, at such time. Not later than 12:00 noon California time on the Determination Date, each Distribution Date the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, prepare a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds and each Class’ Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee, the Premium Amount and the Reimbursement Amount;
(vii) the Pool Balance as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The number the Overcollateralization Amount and Principal Balances of all Mortgage Loans and the Required Overcollateralization Amount as of the Mortgage Loans in each Groupclose of business on the Distribution Date, that were after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the subject calculation thereof;
(xi) the aggregate amount of Principal Prepayments received during the Due related Prepayment Period;
(ivxii) The the amount of all Curtailments in each Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class P Certificates, Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Groupas of the first day of the month prior to the Distribution Date;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvivi) The Pool Factor for each Group determined using (as reported by the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01Servicer);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) for each Pre-Funding Distribution Date, the amount, if any, on deposit in the First Payment Loan Account;
(xxiii) The Class A-2 Available Funds Carryforwardthe number and aggregate Principal Balance of Mortgage Loans, if anyother than Mortgage Loans in default or imminent default, after giving effect to all distributions on such Distribution Datethat were modified by the Servicer during the related Due Period (as reported by the Servicer);
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Offered Certificates and (other than the Class A-IO Certificates), stating separately stating any amounts received from the amount that is allocable cap provider with respect to each such Class the Interest Rate Cap Agreements, and the amount allocable to interest and principalof Net Rate Cap Carryover remaining for each such Class;
(xxv) [Reserved];
(xxvi) for each Pre-Funding Distribution Date, the remaining amount in the Pre-Funding Account; and
(xxvxxvii) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofamount of the Insured Payments, if any, to be made on such Distribution Date. The Trustee shall make available such report available to the Servicer, the Depositor, the CertificateholdersSeller, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date; provided, however, that the Trustee shall remove from the report the Premium Amount to be paid to the Certificate Insurer prior to the submission to Bloomberg and Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and the parties to this Agreement via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Trustee or and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to the Certificate Insurer, the Depositor, the Seller and each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Renaissance Mort Accept Corp Home Eq Ln as Bk Cer Se 03 1)
Statements. (a) Not later than 12:00 noon California time noon, New York ---------- time, on the fourth Business Day following the last day of a Due Periodeach Determination Date, the Master Servicer shall deliver to the Trustee a computer tape containing (or such other report in a form and format mutually agreeable to the information set forth on Exhibit D Master Servicer and the Trustee) as to each Mortgage Loan as of such the end of the preceding Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time noon, New York time, on the Determination Distribution Date, the Trustee shall deliver to the Servicer, the Depositor Master Servicer and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding such Distribution Date, a statement (the “"Trustee’s 's Remittance Report”") (based solely on the information contained on the computer tape) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds for each Certificate Group and each Class' Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates Class, the Pool Principal Balance and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Loan Group Principal Balance of the Mortgage Loans in each Loan Group as reported in the prior Trustee’s 's Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Principal Balance of each Class of Class A Certificates and Class, the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Pool Principal Balance and the Cut-Off Date Loan Group Principal Balance of the Mortgage Loans in each Loan Group;
(iii) The aggregate amount of collections received on the Mortgage Loans on or prior to such Determination Date in respect of the preceding Due Period, separately stating the amounts received in respect of principal and interest;
(iv) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(ivv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount principal portion of all Monthly Payments received during the Due Period;
(vii) The interest portion of all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viiviii) The amount required to be paid by the Seller or Master Servicer (reported separately) pursuant to Sections 2.03, 2.06 or 3.01(j);
(ix) The amount of the Monthly Advances and the amount of any Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separatelyrespect to such Distri- bution Date;
(x) The Class A Principal Distribution for each Certificate Group for the related Distribution Date, the Class Interest Distribution for the related Distribution Date to be distributed on each Class of Class A Certificates and any Net Funds Cap Carryover Amount to be distributed on the Class A-2 Certificates on the related Distribution Date;
(xi) The amount, if any, of the Outstanding Class Interest Carryover Shortfall and Class A Principal Shortfall Amount for each Class after giving effect to the distributions on the related Distribution Date;
(xii) The amount of the Insured Amounts for each GroupPayments, if any, to be paid made on the related Distribution Date;
(xixiii) The amount to be distributed to the Class R Certificateholders Certif- icateholders for the related Distribution Date;
(xiixiv) The Class Principal Balance of for each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the related Distribution Date;
(xiiixv) The weighted average remaining term to maturity of the Mortgage Loans in each Loan Group and the weighted average Loan Rate in each Loan Group;
(xiva) The Master Servicing Fee for each Group to be paid to the Master Servicer and (b) the amounts paid to the Certificate Insurer, separately stated, pursuant to Sections 5.01(a)(i)(4) and 5.01(a)(ii)(4) and the amount Reimbursement Amount to be paid to the Certificate Insurer pursuant to Section 5.01(a)(vi)(4);
(xvii) The aggregate Premium Amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xvxviii) The amount of all payments or reimbursements to the Master Servicer pursuant to Section 3.03;
(xvixix) The Pool Factor for each Loan Group determined using the balances in subclause (iixxiv) above, computed to six (6) decimal places;
(xviixx) The amountO/C Amount, if anythe O/C Reduction Amount, transferred from the Simple Interest Excess Account to O/C Amount and the Specified O/C Amount for the Distribution Account pursuant to Section 5.03 Date and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, Certificate Group and the Excess Spread for each Group, the Monthly Excess Spread Amount related Loan Group for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01such Distribution Date;
(xixxxi) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix5.01(a)(vi)(7);
(xxxxii) The amount of Distributable Excess Spread to be distributed to the Class A Certificateholders of each Class on such Distribution Date pursuant to Sections 5.01(a)(iv), 5.01(a)(v) and 5.01(a)(vi)(1), as applicable, on such Distribution Date;
(xxiii) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixxiv) The amount on deposit in Pool Principal Balance and the Loan Group Principal Balance for each sub-account Loan Group, each as of the Spread Account after end of the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxivxxv) Separately stated for each Loan Group, the number and aggregate Principal Balances of Mortgage Loans (w) as to which the Monthly Payment is delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (x) that have become REO Properties, in each case as of the end of the preceding Due Period, (y) that are in foreclosure and (z) the Mortgagor of which is the subject of any bankruptcy or insolvency proceeding;
(xxvi) The unpaid principal amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount all Mortgage Loans that is allocable to each became Liquidated Mortgage Loans during such Class and the amount allocable to interest and principal; andDue Period;
(xxvxxvii) Whether The Net Liquidation Proceeds received during such Due Period;
(xxviii) The book value (within the meaning of 12 C.F.R. Section 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure; (xxix) For so long as the Master Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying is the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate InsurerSeller, the Rating Agencies and Bloomberg Agencies' ratings of the long-term unsecured debt of the Seller (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on to the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable extent such information is provided to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on Certificate Insurer or the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Master Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.); and
Appears in 1 contract
Statements. Not later than 12:00 noon California time on Tenant shall furnish the fourth Business Day following the last day of a Due Period, the Servicer shall deliver statements to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution DateLandlord:
(i) The Group 1 (I) In the event that Tenant’s Parent is a reporting company under the Exchange Act, on the earlier of five (5) Business Days following (x) each date specified in the Exchange Act and Group 2 Available Funds the SEC’s related rules and regulations (including any additional time permitted under Rule 12b-25 or any successor provision thereof) that the Tenant’s Parent is required to file SEC Reports (each Certificate Rate a “SEC Filing Deadline”) and (y) the date the Tenant’s Parent files its SEC Reports with the SEC or (II) in the event that Tenant’s Parent is not a reporting company under the Exchange Act, no later than five (5) Business Days prior to Landlord REIT’s applicable SEC requirements, if any, to file, or include in any of Landlord REIT’s SEC Reports, Tenant Parent’s Financial Statements: (A) Tenant’s Parent’s Financial Statements required to be included in such SEC Report or the SEC Report containing such Financial Statements; (B) a certificate, executed by a Responsible Officer of the Tenant or Tenant’s Parent certifying that no default has occurred under this Master Lease or, if such a default has occurred, specifying the nature and status of such default; and (C) (1) with respect to annual Financial Statements, a report with respect to Tenant’s Parent’s Financial Statements from Tenant’s Parent’s independent registered public accounting firm, which report shall not be subject to any qualification or exception expressing substantial doubt about the ability of the Tenant’s Parent and its subsidiaries to continue as a “going concern” or any exception as to the scope of such audit (excluding any qualification as to going concern relating to any debt maturities in the twelve month period following the date such report is delivered or any projected financial performance or covenant default in any Indebtedness or this Master Lease in such twelve month period) and that such Financial Statements have been prepared in accordance with GAAP and Tenant’s Parent’s accountants have examined such Financial Statements in accordance with the standards of the PCAOB (or generally accepted auditing standards, if not required to file SEC Reports at such time) and (2) with respect to quarterly Financial Statements, a certificate, executed by a Responsible Officer of the Tenant’s Parent, certifying that such Financial Statements fairly present, in all material respects, the financial position and results of operations of Tenant’s Parent and its Subsidiaries on a consolidated basis in accordance with GAAP as at such date and for such period (subject to normal year-end audit adjustments, the related Distribution Dateabsence of footnotes and other informational disclosures customarily omitted from interim financial statements). Financial statements required to be delivered pursuant to this Section 23.1(b)(i) will be deemed delivered to the extent such documents are included in materials filed with the SEC and shall be deemed to have been delivered on the date such documents are publicly available on the SEC’s website;
(ii) The Class Principal Balance Within seventy-five (75) days after the end of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans Tenant’s Fiscal Years (commencing with the Fiscal Year ending December 31, 2022), (a) a budget and projection by fiscal month for the Fiscal Year in which the budget is delivered, including projected Net Revenue and EBITDAR with respect to each Group as reported Facility, (b) a budget and projection by fiscal year for the second and third subsequent Fiscal Years, including projected Net Revenue and EBITDAR with respect to each Facility, and (c) a capital budget for each Facility for the Fiscal Year in which the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in budget is delivered and for the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Groupfollowing Fiscal Year;
(iii) The number Within thirty (30) days after the end of each calendar month, the following items as they pertain to each Facility: occupancy percentages, including average daily rate and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were revenue per available room for the subject month, the monthly and year-to-date operating statements prepared for each calendar period, noting net revenue, operating expenses and operating income, and other information reasonably necessary and sufficient to fairly represent the financial position and results of Principal Prepayments operations of each Facility and its respective Operating Subtenant during the Due Periodsuch calendar period;
(iv) The amount Within sixty (60) days after the expiration of all Curtailments any calendar quarter, Tenant shall deliver to Landlord a Financial Covenant compliance report, which report shall include an Officer’s Certificate in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in substantially the form attached hereto as Exhibit LH, certifying that the Financial Covenant is in compliance under Section 23.3 together with reasonable detail evidencing such compliance;
(ixv) The Remittance Amount for each Class (a) commercially reasonable efforts to deliver such additional financial information and projections as may be reasonably requested by Landlord, so long as any reasonable out-of-pocket cost of Class A Tenant or its Related Persons is borne by Landlord, in connection with syndications, private placements or public offerings by Landlord of debt securities or loans or equity or hybrid securities and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(xb) The amount of the Insured Amounts for each Groupsuch additional information, Tenant’s Parent Financial Statements if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer not otherwise provided pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to 23.1(b)(i), and unaudited quarterly financial information concerning the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amountLeased Property, if anyTenant, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇’s Parent as Landlord or its Affiliates may require for their filings with the SEC under both the Securities Act and the Exchange Act, ▇▇▇ ▇▇▇▇including, ▇▇▇ ▇▇▇▇ but not limited to SEC Reports and registration statements to be filed by Landlord or its Affiliates during the Term of this Master Lease, the Internal Revenue Service and any other federal, state or local regulatory agency with jurisdiction over Landlord or its Subsidiaries;
(vi) Prompt Notice to Landlord of any action, proposal or investigation by any agency or entity, or complaint to such agency or entity, (any of which is called a “Proceeding”), known to Tenant, the result of which Proceeding would reasonably be expected to be to revoke or suspend or terminate or modify in a way materially adverse to Tenant, or fail to renew or fully continue in effect, any license or certificate or operating authority pursuant to which Tenant carries on any material part of the Primary Intended Use of all or any portion of the Leased Property;
(vii) Upon request, not to be made more than once per fiscal quarter, an updated rent roll for each Facility; and
(viii) Tenant further agrees to provide the financial and operational reports to be delivered to Landlord under this Master Lease in such electronic format(s) as may reasonably be required by Landlord from time to time in order to (i) facilitate Landlord’s internal financial and reporting database, and (ii) permit Landlord to calculate any rent, fee or other payments due under Ground Leases. ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties ▇ also agrees that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and Landlord shall have no liability audit rights with respect to such information provided by the Servicer. To to the extent that there are inconsistencies between required to confirm Tenant’s compliance with the telecopy terms of the Trustee’s Remittance Report and the hard copy issued upon request this Master Lease (pursuant to the preceding paragraph) thereofincluding, the Servicer may rely upon the latter. In the case without limitation, calculation of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off DateNet Revenues).
Appears in 1 contract
Statements. Not later than 12:00 noon California time Custodian will send Client at the address shown in Custodian’s records for Client periodic statements listing all Assets and showing all cash receipts and disbursements for the Account. These statements will present current market prices obtained by Custodian from one or more third party pricing services selected by Custodian in the usual course of its business. When adequate pricing for any security or securities is not readily available to Custodian from any of such third party pricing service providers, Custodian will not be required to provide current market prices for those securities. Custodian will not be liable for any loss, whether direct or indirect, including consequential damages, which may occur from any inaccuracies in market pricing information. Unless Client indicates otherwise on Schedule I, Client agrees that such statements are in lieu of any further notification that Custodian would otherwise be required to give Client under Regulation H of the Board of Governors of the Federal Reserve System. Under Regulation H, Client would be entitled to notification from Custodian, at no additional cost, concerning each purchase and sale for the Account at or before the completion of the transaction, or if a broker is used, within one business day after receipt of the broker’s confirmation. Custodian shall provide Client, at such times as Client may reasonably require, with reports by independent public accountants on the fourth Business Day following accounting system, internal accounting control and procedures for safeguarding securities, including securities deposited and/or maintained in a securities depository, relating to the last day service provided by Custodian under this Agreement; such reports shall be of a Due Periodsufficient scope and in sufficient detail, as may reasonably be requested by Client to provide reasonable assurance that any material inadequacies would be disclosed by such examination, and, if there are no such inadequacies, the Servicer reports shall deliver so state. Custodian shall create and maintain all records relating to its activities and obligations under this Agreement in such manner as will meet the Trustee a computer tape containing obligations of Client under the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy1940 Act, with a hard copy thereof particular attention to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates 31 and the Notional Balance applicable rules thereunder. All such records shall be the property of each Class Client and shall at all times during the regular business hours of Class A-IO Certificates Custodian be open for inspection by duly authorized officers, employees or agents of Client and the Aggregate Principal Balance employees or agents of the Mortgage Loans in each Group Securities and Exchange Commission. Custodian shall, at Client’s request, supply Client with a tabulation of securities owned by Client and held by Custodian and shall, when requested to do so by Client and for such compensation as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed agreed upon between Client and Custodian, include certificate numbers in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Datesuch tabulations.
Appears in 1 contract
Statements. Not later If the amount of the commission as so recalculated is greater or less than 12:00 noon California time the amount of commission paid on such Commission Due Date, then the Bank will refund to the Company the excess of the amount of the commission paid on such Commission Due Date over the commission determined in accordance with such recalculation, or the Company will pay to the Bank the excess of the commission determined in accordance with such recalculation over the commission paid on such Commission Due Date, such refund or such payment of additional commission to be due within ten (10) days following delivery of such annual audited Financial Statements. A transaction fee shall be payable by the Company to the Bank for each Drawing under the 1993 Direct-Pay Letter of Credit in the amount of one-eighth of one percent (1/8%) of the amount of the Drawing or Sixty-Five Dollars ($65.00), whichever is greater. Transaction fees on account of Drawings shall be due on the fourth Business day when the Drawing is paid by the Bank. On the Banking Day following the last day of a preceding each Commission Due Period, the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee Company shall deliver deposit into the Designated Account such amount as may be necessary to cause the balance of the Designated Account to be not less than the amount of commission due on such Commission Due Date, plus any other amounts required to be on deposit in the Designated Account on such date pursuant to other provisions of this Agreement. The Bank shall be entitled, without further authorization from the Company, to charge the amount of the commission due on each Commission Due Date to the ServicerDesignated Account, and if the balance of the Designated Account is insufficient to satisfy the entire amount then due to the Bank on account of the commission, the Depositor Bank may, without further authorization of the Company, charge such deficiency to any other deposit account of the Company maintained with the Bank. All commissions and fees payable under the terms of this Section 3.01(a)(3) shall be payable with interest at the Prime Rate plus two percent (2%) per annum from the date due until paid. If the 1993 Direct-Pay Letter of Credit is transferred to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer new beneficiary pursuant to the first sentence terms thereof, then the Company covenants and agrees to pay to the Bank promptly upon its demand a transfer fee in the amount then customarily assessed by the Bank for transfers of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance letters of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance credit of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates same type and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as the 1993 Direct-Pay Letter of the Cut-Off DateCredit.
Appears in 1 contract
Sources: Credit Agreement (Dmi Furniture Inc)
Statements. Not later than 12:00 noon California time on the fourth Business Day following the last day of a Due Period, the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver make available to the Servicer, the Depositor and to the Certificate Insurer, Insurer by telecopy, with a hard copy thereof to be delivered and on the succeeding Distribution DateDate via its website, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each the Class A Certificate Rate for the related Distribution Date;
(ii) The Class A Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class A Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each GroupLoans;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each GroupLoans, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each GroupLoans;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each GroupDate;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of the Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each GroupAmounts, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class A Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Groupthe Mortgage Loans, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each GroupRate;
(xiv) The Servicing Fee, the Trustee Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each GroupAmount, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix5.01(a)(viii);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The amount of Class A-2 A Available Funds CarryforwardCap Carryforward distributed to the Class A Certificates from the Basis Risk Reserve Fund, stating separately any amounts received from the Corridor Contract Counterparty with respect to the Corridor Contract and the amount of Class A Available Funds Cap Carryforward remaining if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount on deposit in the Basis Risk Reserve Fund, the Required Basis Risk Reserve Fund Deposit and the amount of any withdrawal from such Account for the Distribution Date distributed to the Class R Certificates;
(xxv) The amount of Class Interest Carryover Shortfall relating to each Class of the Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and;
(xxvxxvi) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof;
(xxvii) During the Funding Period, the amount used to acquire Subsequent Mortgage Loans since the preceding Distribution Date and the remaining Pre-Funded Amount after acquiring Subsequent Mortgage Loans; and
(xxviii) During the Funding Period, the amount on deposit in the Capitalized Interest Account after the Distribution Date and the Capitalized Interest Required Amount for such Distribution Date. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]▇▇▇▇ ▇▇▇▇▇▇) on its internet website located at “▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇/invr” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy copy of the Trustee’s Remittance Report posted on its website and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latterformer. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Lehman Home Equity Loan Trust 2004-3)
Statements. Not (a) No later than 12:00 noon California time on the fourth Business Day following the last day of a Due Periodeach Determination Date, the Servicer shall deliver to the Indenture Trustee a magnetic tape or computer tape containing disk providing such information regarding the information set forth on Exhibit D as to each Mortgage Loan as of such Servicer's activities in servicing the Home Loans during the related Due Period and such other information as the Indenture Trustee shall may reasonably require. Not .
(1) Subject to the modification of the Servicer's Monthly Statement by the Servicer with the prior written consent of the Majority Securityholders and the Indenture Trustee, no later than 12:00 noon California time on the Determination three (3) Business Days before each Payment Date, the Servicer shall prepare and the Indenture Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with distribute a hard copy thereof to be delivered on the succeeding Distribution Date, a monthly statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) "Servicer's Monthly Statement", with respect to such Distribution Payment Date) to the Seller, the Securityholders and each Rating Agency, stating the date of original issuance of the Securities (day, month and year), the name of the Issuer (i.e., "FIRSTPLUS Home Loan Owner Trust 1998-5"), the series designation of the Securities (i.e., "Series 1998-5"), the date of this Agreement and the following information:
(i) The Group 1 the Available Collection Amount, the Regular Payment Amount and Group 2 Available Funds and each Certificate Rate the Excess Spread for the related Distribution Payment Date;
(ii) The the amount, if any, on deposit in the Pre-Funding Account on such Payment Date;
(iii) the Class Principal Balance of each Class of Class A Certificates Securities (and the Notional Balance Component Principal Balance, as applicable, of each Class the Components of Class A-IO Certificates the Residual Interest Certificate), and the Aggregate Pool Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance day of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance Due Period and after giving effect to payments and distributions made to the holders of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Periodsuch Securities on such Payment Date;
(iv) The amount the Class Pool Factor with respect to each Class of all Curtailments in each Group that were received during the Due PeriodSecurities then outstanding, carried to seven decimal places;
(v) The the amount of principal portion of all Monthly Payments for each Group and interest received on the Home Loans during the related Due Period;
(vi) The amount the amount, if any, of interest received on the Mortgage Loans in each GroupOvercollateralization Surplus;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date Servicing Compensation for each Groupsuch Payment Date;
(viii) The delinquency the Overcollateralization Amount with respect to such Payment Date, the Required Overcollateralization Amount as of such Payment Date, the Net Loan Losses incurred during the related Due Period and foreclosure information set forth in the form attached hereto as Exhibit Lcumulative Net Loan Losses with respect to such Payment Date;
(ix) The Remittance Amount for the amount, if any, paid on such Payment Date to each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separatelySubordinate Securities in respect of Deferred Amounts;
(x) The with respect to each Class of Subordinate Securities and the B-2 Component of the Residual Interest Certificate, the amount of the Insured any applicable Deferred Amounts for each Group, if any, remaining unreimbursed after giving effect to be paid payments made on the Distribution such Payment Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Home Loans in each Group and the weighted average Home Loan Interest Rate of the Home Loans each as of such Payment Date;
(xii) certain performance information, including delinquency and foreclosure information with respect to the Home Loans, as set forth in each Groupthe Servicer's Monthly Remittance Report;
(xiii) the amount of any Servicing Advance Reimbursement Amount to be paid to the Servicer on such Payment Date, and the amount of any Servicing Advance Reimbursement Amount remaining unpaid following such payment;
(xiv) The Servicing Fee for each Group the number of and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount aggregate Principal Balance of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Home Loans in foreclosure proceedings (other than any Home Loans described in clause (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv)) and the amount paid percent of the aggregate Principal Balances of such Home Loans to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number the aggregate Principal Balances of Mortgage Loans in each Group outstanding at all Home Loans, all as of the beginning and at close of business on the end last day of the related Due Period;
(xxixv) The amount on deposit in each sub-account the number of and the aggregate Principal Balance of the Spread Account after Home Loans in bankruptcy proceedings (other than any Home Loans described in clause (xvii)) and the Distribution Datepercent of the aggregate Principal Balances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the last day of the related Due Period;
(xxiixvi) The amount the number of losses experienced on Foreclosure Properties, the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage aggregate Principal Balance of the related Cut-Off Date Home Loans, the book value of such Foreclosure Properties and the percent of the aggregate Principal BalanceBalances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the last day of the related Due Period;
(xxiiixvii) The Class A-2 Available Funds Carryforwardduring the related Due Period, if anythe aggregate Principal Balance of Home Loans for each of the following: (A) that became Liquidated Home Loans and (B) that became Deleted Home Loans pursuant to Section 3.05 as a result of such Deleted Home Loans being Liquidated Home Loans or a Home Loan in foreclosure, after giving effect to all distributions on such Distribution Datedefault or imminent default, including the foregoing amounts by loan type;
(xxivxviii) The amount from the Closing Date through the most current Due Period, the cumulative aggregate Principal Balance of Class Interest Carryover Shortfall relating Home Loans for each of the following: (A) that became Liquidated Home Loans, and (B) that became Deleted Home Loans pursuant to each Class Section 3.05 as a result of Class A Certificates such Deleted Home Loans being in foreclosure, default or imminent default;
(xix) the scheduled principal payments and the Class A-IO Certificates, separately stating principal prepayments received with respect to the amount that is allocable to each such Class and Home Loans during the amount allocable to interest and principalrelated Due Period;
(xx) the number of Home Loans remaining in the Home Loan Pool; and
(xxvxxi) Whether such other information as may be reasonably requested by the Indenture Trustee.
(2) No later than three (3) Business Days before each Payment Date, the Servicer shall prepare and distribute to the Seller and each Rating Agency a monthly statement that includes the cumulative aggregate Principal Balance of Home Loans that became Deleted Home Loans pursuant to Section 3.05(c) as a result of such Deleted Home Loans being Defective Home Loans, from the Closing Date through the most current Due Period.
(3) No later than seven days following a repurchase or substitution pursuant to Sections 2.06, 3.05 or 4.02, the Servicer Termination Delinquency Event shall notify each Rating Agency of the aggregate principal balances of the Home Loans repurchased or a substituted and (if applicable) the relevant Substitution Adjustment. All reports prepared by the Servicer Termination Loss Event has occurred of the withdrawals from and specifying deposits in the details thereof. The Collection Account will be based in whole or in part upon the information provided to the Indenture Trustee shall make such report available to by the Servicer, and the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Indenture Trustee may fully rely upon and shall have no liability with respect to such information provided by the Servicer.
(c) Within a reasonable period of time after the end of each calendar year, the Servicer shall prepare and direct the Indenture Trustee to distribute to each Person who at any time during the calendar year was a Securityholder, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (b)(iv) and (v) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Securityholder. To Such obligation of the Indenture Trustee shall be deemed to have been satisfied to the extent that there are inconsistencies between substantially comparable information shall be provided by the telecopy Servicer to the Securityholders pursuant to any requirements of the Trustee’s Remittance Report Code as are in force from time to time.
(d) On each Payment Date, the Indenture Trustee shall forward to DTC and to the hard holder of the Residual Interest Certificate a copy issued upon request of the Servicer's Monthly Statement in respect of such Payment Date and a statement setting forth the amounts actually distributed to the holder of the Residual Interest Certificate on such Payment Date, together with such other information as the Indenture Trustee deems necessary or appropriate.
(e) Within a reasonable period of time after the end of each calendar year, the Servicer shall prepare and direct the Indenture Trustee to distribute to each Person who at any time during the calendar year was the holder of the Residual Interest Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the preceding paragraphprevious paragraph aggregated for such calendar year or applicable portion thereof during which such Person was the holder of the Residual Interest Certificate. Such obligation of the Indenture Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the holder of the Residual Interest Certificate pursuant to any requirements of the Code as are in force from time to time.
(f) thereofUpon reasonable advance notice in writing, the Servicer will provide to each Securityholder which is a savings and loan association, bank or insurance company access to information and documentation regarding the Home Loans sufficient to permit such Securityholder to comply with applicable regulations of the FDIC or other regulatory authorities with respect to investment in such Securities.
(g) The Servicer or its agent shall furnish to the Indenture Trustee, who in turn shall forward to each Securityholder, during the term of this Agreement, such periodic, special, or other reports, including information tax returns or reports required with respect to the Securities, including Internal Revenue Service Forms 1099 and (if instructed in writing by the Seller on the basis of the advice of legal counsel) and other similar reports that are required to be filed by the Servicer or its agent and the holder of Residual Interest Certificate, whether or not provided for herein, as shall be necessary, reasonable, or appropriate with respect to the Securityholders or the holders of the Residual Interest Certificate, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Securityholders may rely upon reasonably require.
(h) Reports and computer tapes furnished by the latter. In Servicer and the case of information furnished Indenture Trustee pursuant to subclauses (ii) and (ix) above, the amounts this Agreement shall be expressed deemed confidential and of proprietary nature, and shall not be copied or distributed except in a separate section connection with the purposes and requirements of this Agreement. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the report Seller or the Servicer or for any other purpose except as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Dateset forth in this Agreement.
Appears in 1 contract
Sources: Sale and Servicing Agreement (Firstplus Investment Corp)
Statements. (a) Not later than 12:00 noon noon, California time time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic modem a computer tape file containing the information set forth on Exhibit D as to each Mortgage Loan called for by clauses (i) through (xxi) below as of such the end of the preceding Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon noon, California time time, on the each Determination Date, the Trustee shall deliver to the Servicer, Servicer and the Depositor and to the Certificate Insurer, Seller by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a confirmation of the items in clause (i) below. Not later than one Business Day prior to each Distribution Date the Trustee shall deliver a statement (the “"Trustee’s 's Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification or calculation thereof:
(i) The Group 1 and Group 2 Available Funds for each Certificate Group and each Class's Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest for each Loan Group paid as principal;
(vi) the Servicing Fee;
(vii) the Loan Group Balance of each Loan Group and the Pool Balance, in each case as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) each Overcollateralization Amount and each Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) for each Certificate Group, whether a Trigger Event has occurred and is continuing;
(xi) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, Loan Group that were the subject of Principal Prepayments during the Due Period;
(ivxii) The amount of all Curtailments in each Loan Group that were received during the Due Period;
(vxiii) The principal portion of all Monthly Payments for in each Loan Group received during the Due Period;
(vixiv) The amount interest portion of interest all Monthly Payments in each Loan Group received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The For each Certificate Group, the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiiixvii) The weighted average remaining term to maturity of the Mortgage Loans in each Loan Group and the weighted average Loan Rate in each GroupRate;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xvxviii) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Loan Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in For each sub-account of Certificate Group, the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for Loan Losses and the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Principal Pool Balance;
(xxiiixxi) The Class A-2 Available Funds CarryforwardFor each Loan Group, if anyas of the end of the preceding calendar month, after giving effect to all distributions on such Distribution Datethe number and Principal Balance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90-119 days delinquent; the number and Principal Balance of Mortgage Loans which are more than 120 days delinquent; the number and Principal Balance of Mortgage Loans which are in foreclosure; and the number and Principal Balance of Mortgage Loans which are REO Property;
(xxivxxii) The amount For each Certificate Group the calculation of Class Interest Carryover Shortfall relating to each Class of Class A Certificates the Trigger Event and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalSubordination Trigger Event; and
(xxvxxiii) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying For each Pre-Funding Distribution Date, the details thereofremaining Allocated Pre-Funded Amount. The Trustee shall make forward such report available to the Servicer, the DepositorSeller, the Certificateholders, the Certificate InsurerRating Agencies, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. The Servicer shall calculate all items in clauses (i) - (xxii) above. To the extent that there are inconsistencies between the telecopy of the Trustee’s 's Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Funding Corp /De/)
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means and to the Certificate Insurer via e-mail at ▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇, a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) through (xxvii) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, each Distribution Date the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, prepare a statement (the “Trustee’s "Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds and each Class' Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee, the Premium Amount and the Reimbursement Amount;
(vii) the Pool Balance as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof;
(xi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(ivxii) The the amount of all Curtailments in each Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Groupas of the first day of the month prior to the Distribution Date;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) [Reserved];
(xxiii) The Class A-2 Available Funds Carryforwardthe number and aggregate Principal Balance of Mortgage Loans, if anyother than Mortgage Loans in default or imminent default, after giving effect to all distributions on such Distribution Datethat were modified by the Servicer during the related Due Period;
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Certificates and Offered Certificates, other than the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalof Net Rate Cap Carryover remaining for each such Class;
(xxv) for each Pre-Funding Distribution Date, the amount in the Initial Interest Coverage Account;
(xxvi) for each Pre-Funding Distribution Date, the remaining amount in the Pre-Funding Account; and
(xxvxxvii) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofamount of the Insured Payments, if any, to be made on such Distribution Date. The Trustee shall make available such report available to the Servicer, the Depositor, the CertificateholdersSeller, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date; provided, however, that the Trustee shall remove from the report the Premium Amount to be paid to the Certificate Insurer prior to the submission to Bloomberg and Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and the parties to this Agreement via the Trustee's internet website. The Trustee's internet website shall initially be located at "▇▇▇.▇▇▇▇▇▇▇.▇▇▇". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Funding Corp /De/)
Statements. Not later than 12:00 noon California time on (a) On or before the fourth Business Day following the last 25th day of a Due Periodeach month, Buyer shall send Producer an invoice for the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement immediately previous month (the “Trustee’s Remittance ReportInvoice Month”) containing showing (i) the number of Barrels purchased and sold pursuant to this Agreement for such Invoice Month (ii) the Buyer Purchase Price for such Invoice Month, (iii) the Producer Purchase Price for such Invoice Month, (iv) any other amounts owed by Buyer pursuant to this Agreement and (v) any other amounts owed by Producer pursuant to this Agreement. To the extent (x) the sum of (iii) plus (v) minus (y) the sum of (ii) plus (iv) is a positive number, Producer shall pay such difference to Buyer. If such difference is a negative number, Buyer shall pay such difference to Producer. If such amount equals 0, no payments need be made by either Party.
(b) Each invoice shall be accompanied by reasonable supporting information set forth below (for all amounts charged by such invoice; provided that to the extent any such information amount appearing on an invoice is in respect of an amount paid by Buyer to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
a Third Party (i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Datecollectively, the Original Class Certificate Balance “Reimbursed Amount”) or the calculation of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
such Reimbursed Amount is contingent on information provided by a Third Party (iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Groupcollectively, the Excess Spread for each Group“Conditional Amount”), the Monthly Excess Spread such Reimbursed Amount for each Groupand Conditional Amount, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at shall be reflected on an invoice within 90 days after the end of the related Due Period;
(xxi) The amount month in which such Reimbursed Amount was paid by Buyer. If actual measurements of quantities of Producer’s Product are not available in any month, Buyer may prepare and submit its invoice based on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforwardestimated quantities, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts which shall be expressed in a separate section of the report corrected to actual quantities as a dollar amount for each Class for each $1,000 original dollar amount soon as of the Cut-Off Datereasonably practicable after such actual quantities become available.
Appears in 1 contract
Sources: Crude Oil Purchase and Sale Agreement (Noble Midstream Partners LP)
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth Business Day following the last 18th calendar day of each month, or if such 18th day is not a Due PeriodBusiness Day, the immediately preceding Business Day, the Servicer shall deliver to the Trustee Master Servicer who shall deliver to the Securities Administrator by electronic means reasonably acceptable to the Master Servicer, a computer tape file containing the loan level information set forth on Exhibit D as in Exhibits V, W and X hereto necessary to each Mortgage Loan permit the Master Servicer to perform its obligations hereunder and the Securities Administrator to calculate the information required by clauses (i) through (xxv) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee Master Servicer or the Securities Administrator shall reasonably require, and the Seller hereby agrees to provide the Master Servicer and the Servicer with an amended Prepayment Charge Schedule, if required, at such time. Not later than 12:00 noon California time on each Distribution Date the Determination Date, the Trustee Securities Administrator shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, prepare a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based solely upon the loan level information furnished by the Servicer and the Master Servicer, as applicable, upon which the Securities Administrator shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds for each Loan Group and each in the aggregate and the Certificate Rate for each Class for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Group I Excess Interest and Group II Excess Interest paid as principal;
(vi) the aggregate amount of the Servicing Fee, the Master Servicing Fee and the Tax Matters Fee for such Distribution Date, in each case by Loan Group;
(vii) the Pool Balance and the aggregate Principal Balances of the Mortgage Loans in each Loan Group as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates after giving effect to payments allocated to principal above;
(ix) each Overcollateralization Amount, the Group I Required Overcollateralization Amount and the Notional Balance Group II Required Overcollateralization Amount as of each Class the close of Class A-IO Certificates business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Group I Cumulative Loss Event, a Group II Cumulative Loss Event, a Group I Delinquency Event or a Group II Delinquency Event has occurred and is continuing and the Aggregate calculation thereof;
(xi) the aggregate amount of Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and Prepayments received during the related Cut-Off Date Principal Balance of the Mortgage Loans in Prepayment Period for each Loan Group;
(iiixii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due PeriodPeriod for each Loan Group;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due PeriodPeriod for each Loan Group;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in during the Due Period for each Loan Group;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Loan Group;
(viiixvi) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class P Certificates, Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in as of the first day of the related Due Period for each Loan Group;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvivi) The Pool Factor for each Group determined using (as reported by the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01Servicer);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due PeriodPeriod for each Loan Group;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance for each Loan Group;
(xxi) for each Loan Group, as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth) for each Loan Group;
(xxii) the amounts of Applied Realized Loss Amounts for each Loan Group for the applicable Due Period and the cumulative amount of Applied Realized Loss Amounts to date for each Loan Group;
(xxiii) The Class A-2 Available Funds Carryforwardthe number and aggregate Principal Balance of Mortgage Loans, if anyother than Mortgage Loans in default or imminent default, after giving effect to all distributions on such Distribution Datethat were modified by the Servicer during the related Due Period (as reported by the Servicer) for each Loan Group;
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Certificates and the Class A-IO Offered Certificates, stating separately stating any amounts received from the amount that is allocable Cap Provider with respect to each such Class the Group I Interest Rate Cap Agreement, and the amount allocable to interest and principalof Net Rate Cap Carryover remaining for each such Class; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred the amount on deposit in the Net Rate Cap Fund, and specifying the details thereofamounts of each deposit and withdrawal from such Account. The Trustee Securities Administrator shall make available such report available to the Servicer, the DepositorMaster Servicer, the Trustee, the Seller, the Certificateholders, the Certificate InsurerRating Agencies, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee Securities Administrator may fully rely upon and shall have no liability with respect to information provided by the Servicer or the Master Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Securities Administrator will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the parties to this Agreement via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇ ▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Securities Administrator’s internet website, the Securities Administrator may require registration and the acceptance of a disclaimer. The Securities Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Securities Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).
(b) Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Securities Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Securities Administrator shall make available to the Class R Certificateholders in the same manner as the Remittance Report is made available to all Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Securities Administrator deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Securities Administrator shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Securities Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Tax Matters Persons and furnished to Certificateholders by the Securities Administrator or Tax Matters Person pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer, the Master Servicer and the Securities Administrator shall furnish to the Depositor, the Seller, the Trustee and each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information for which the Securities Administrator has the necessary information to prepare such report and in a format acceptable to the Securities Administrator, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer, the Master Servicer and the Securities Administrator shall be entitled to be reimbursed by the Depositor, the Seller, the Trustee or such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer or the Master Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2004-4)
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means and to the Certificate Insurer via e-mail at ▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇, a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) through (xxvii) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require, and the Seller hereby agrees to provide the Trustee and the Servicer with an amended Prepayment Charge Schedule, if required, at such time. Not later than 12:00 noon California time on the Determination Date, each Distribution Date the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, prepare a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds and each Class’ Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee, the Premium Amount and the Reimbursement Amount;
(vii) the Pool Balance as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof;
(xi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(ivxii) The the amount of all Curtailments in each Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class P Certificates, Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Groupas of the first day of the month prior to the Distribution Date;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) for each Pre-Funding Distribution Date, the amount, if any, on deposit in the First Payment Loan Account;
(xxiii) The Class A-2 Available Funds Carryforwardthe number and aggregate Principal Balance of Mortgage Loans, if anyother than Mortgage Loans in default or imminent default, after giving effect to all distributions on such Distribution Datethat were modified by the Servicer during the related Due Period;
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Certificates and the Class A-IO Offered Certificates, stating separately stating any amounts received from the amount that is allocable cap provider with respect to each such Class the Interest Rate Cap Agreement, and the amount allocable to interest and principalof Net Rate Cap Carryover remaining for each such Class;
(xxv) for each Pre-Funding Distribution Date, the amount in the Initial Interest Coverage Account;
(xxvi) for each Pre-Funding Distribution Date, the remaining amount in the Pre-Funding Account; and
(xxvxxvii) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofamount of the Insured Payments, if any, to be made on such Distribution Date. The Trustee shall make available such report available to the Servicer, the Depositor, the CertificateholdersSeller, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date; provided, however, that the Trustee shall remove from the report the Premium Amount to be paid to the Certificate Insurer prior to the submission to Bloomberg and Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and the parties to this Agreement via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Trustee or and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to the Certificate Insurer, the Depositor, the Seller and each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Renaissance Home Equity Loan Tr Asset BKD Cer Series 2002-3)
Statements. Not later than 12:00 noon California time on the fourth Business Day following the last day of a Due Period, the Servicer (A) Manager shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof or cause to be delivered on to Tenant statements and budgets as follows:
(I) Within thirty (30) days following the succeeding Distribution Dateend of each calendar month, a profit and loss statement and balance sheet statement (both prepared on an accrual basis in accordance with Generally Accepted Accounting Principles ("GAAP") ) showing the “Trustee’s Remittance Report”results of operation of the Facilities for such calendar month and the year-to-date, and having annexed thereto a computation of the management fee (as determined under Article V hereof) containing for such preceding month and the information set forth below year-to-date; and
(to II) On or before one hundred eighty (180) days after the extent any such information close of each fiscal year during the term of this Agreement, Manager will also deliver or cause to be delivered by the Servicer pursuant to the first sentence Tenant a balance sheet and related statement of this Section 5.01(a) has been so delivered) profit and loss prepared in accordance with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for GAAP showing the related Distribution Date;
(ii) The Class Principal Balance assets employed in the operation of each Class of Class A Certificates the Facilities and the Notional Balance liabilities incurred in connection therewith as of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account fiscal year, and the results of the Spread Account after operation of the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group Facility during the preceding Due Period twelve (12) months then ended, and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
having annexed thereto (xxiiiA) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered Medicare and Medicaid cost report prepared by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability Manager with respect to information provided each Facility for such twelve month period, and (B) a computation of the management fee for such twelve (12) month period. In its discretion, Tenant may elect to have such annual statements certified by an independent public accounting firm of Tenant's choice. Should Tenant so elect, it will notify Manager not later than 31 days after the end of the calendar year with respect to which such election is made.
(III) An operating budget and a capital budget that provide for maintaining and continuing standards of operation of the Facilities as nursing homes at levels consistent with similar nursing facilities managed by Manager shall be prepared by Manager and approved by the ServicerTenant (such approval not to be unreasonably withheld or unduly delayed) prior to the beginning of each year of this Agreement; provided that at the Manager's election a calendar year budget may be used rather than a budget for each annual period commencing with the date of this Agreement. To It is agreed that an initial operating budget and capital budget, as required by this Agreement, will be prepared by the extent Manager and approved by Tenant within fifteen (15) business days from the date hereof. Should capital repairs, replacement, additions and/or improvements exceed the pre-approved capital budget by $25,000 per any specific item or by $100,000 in the aggregate for all items, any expenditures beyond that there are inconsistencies between level will require the telecopy prior written approval of the Trustee’s Remittance Report Tenant. Manager shall not exceed any operating expense line item of any annual operating budget by $25,000 or all operating expense items of any annual operating budget by $100,000 in the aggregate, in either case without the prior written approval of the Tenant.
(B) All costs and expenses incurred in connection with the hard copy issued upon request (pursuant preparation of any statements, schedules, computations, and other reports required under this Section 3.11(a)(ii) shall be charged to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section Tenant as an expense of the report as a dollar amount for each Class for each $1,000 original dollar amount as operation of the Cut-Off DateFacilities.
Appears in 1 contract
Sources: Management Agreement (Integrated Health Services Inc)
Statements. Not later than 12:00 noon California time on the fourth Business Day following the last day of a Due Period, the Servicer Each Alternate Currency Bank shall deliver furnish to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later Administrative Agent not less frequently than 12:00 noon California time on the Determination Datemonthly, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of each calendar quarter, and at any other time at the related Due Period;
reasonable request of the Administrative Agent, a statement setting forth the outstanding Alternate Currency Loans made and repaid during the period since the last such report under such Alternate Currency Addendum. Risk Participation. Immediately and automatically upon the occurrence of a Default under Sections 8.1(a), (xxie) The amount on deposit or (f), each Lender with a Tranche B Revolving Loan Commitment shall be deemed to have unconditionally and irrevocably purchased from the applicable Alternate Currency Bank, without recourse or warranty, an undivided interest in and participation in each sub-account Alternate Currency Loan ratably in an amount equal to such Lender's Pro Rata Tranche B Revolving Share of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on principal and accrued interest of such Loan, and immediately and automatically all Alternate Currency Loans shall be converted to and redenominated in Dollars equal to the Mortgage Loans in Dollar Amount of each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group such Alternate Currency Loan determined as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforwarddate of such conversion; provided, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicerextent such conversion shall occur other than at the end of an Interest Period, the Depositorapplicable Borrower shall pay to the applicable Alternate Currency Bank, the Certificateholders, the Certificate Insurer, the Rating Agencies all losses and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the breakage costs related Distribution Datethereto in accordance with Section 4.4. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy Each of the computer tape delivered Lenders shall pay to the applicable Alternate Currency Bank not later than two (2) Business Days following a request for payment from such Alternate Currency Bank, in Dollars, an amount equal to the undivided interest in and participation in the Alternate Currency Loan purchased by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (such Lender pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latterthis Section 2.21(e). In the case event that any Lender fails to make payment to the applicable Alternate Currency Bank of information furnished pursuant to subclauses (ii) and (ix) aboveany amount due under this Section 2.21(e), the amounts Administrative Agent shall be expressed entitled to receive, retain and apply against such obligation the principal and interest otherwise payable to such Lender hereunder until the Administrative Agent receives from such Lender an amount sufficient to discharge such Lender's payment obligation as prescribed in a separate section this Section 2.21(e) together with interest thereon at the Federal Funds Effective Rate for each day during the period commencing on the date of demand by the applicable Alternate Currency Bank and ending on the date such obligation is fully satisfied. The Administrative Agent will promptly remit all payments received as provided above to the applicable Alternate Currency Bank. In consideration of the report risk participations prescribed in this Section 2.21(e), each Lender shall receive, from the accrued interest paid for periods prior to the conversion of any Alternate Currency Loan as described above by the applicable Borrower on each Alternate Currency Loan, a dollar amount for each Class for each $1,000 original dollar amount as fee equal to such Lender's Pro Rata Tranche B Revolving Share of the Cut-Off DateApplicable Eurocurrency Margin component of the interest accrued on such Loan, as in effect from time to time during the period such interest accrued. Such portion of the interest paid by the applicable Borrower on Alternate Currency Loans to the applicable Alternate Currency Bank shall be paid as promptly as possible by such Alternate Currency Bank to the Administrative Agent, and the Administrative Agent shall as promptly as possible convert such amount into Dollars at the spot rate of exchange in accordance with its normal banking practices and apply such resulting amount ratably among the Lenders (including the Alternate Currency Banks) in proportion to their Pro Rata Tranche B Revolving Share.
Appears in 1 contract
Statements. Not later than 12:00 noon California time on the fourth Business Day following the last day of a Due Periodeach calendar month Date, the Master Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D M as to each Mortgage Loan as of such Due Period Record Date and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, Payment Date the Trustee shall deliver to the Master Servicer, to the Depositor Certificate Insurer and to the Certificate InsurerDepositor, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “"Trustee’s Remittance 's Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution the succeeding Payment Date:
(i) The the Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution DatePayment Date and each Group;
(ii) The Class Principal Balance of the Pass-Through Rate for the related Payment Date and each Class of Class A Certificates and Certificates;
(iii) the Notional Certificate Balance of for each Class of Class A-IO Certificates A Certificates, and the Aggregate Principal Pool Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance 's Report pursuant to subclause (xiixiii) below, or, in the case of the first Determination Date, the Original Class Initial Certificate Balance of for each Class of Class A Certificates and the Original Notional Pool Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in with respect to each Group;
(iiiiv) The with respect to each Group, the number and aggregate Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(ivv) The with respect to each Group, the amount of all Curtailments in each Group that were received during the Due Period;
(vvi) The with respect to each Group, the principal portion of all Monthly Payments for each Group received during the Due Period;
(vivii) The with respect to each Group, the amount of interest received on the Mortgage Loans in each GroupLoans;
(viiviii) The with respect to each Group, the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each GroupDate;
(viiiix) The the delinquency and foreclosure information set forth in the form attached hereto as Exhibit LJ;
(ixx) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Principal Distribution Date Amount, with the components thereof stated separately, and the Interest Distribution Amount, stating separately the components of any Mortgage Loan Interest Shortfall, each with respect to the Payment Date and each Class of Class A Certificates;
(xxi) The with respect to each Group, the amount of the Insured Amounts for each GroupPayments, if any, to be paid made on the Distribution Payment Date;
(xixii) The the amount to be distributed to the Class R Certificateholders for the Distribution Payment Date;
(xiixiii) The Class Principal the Certificate Balance of each the Class of A-1 and Class A A-2 Certificates and the Notional Pool Balance of with respect to each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each Group after giving effect to the distribution to be made on the Distribution Payment Date;
(xiiixiv) The with respect to each Group, the weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each GroupMortgage Interest Rate;
(xivxv) The with respect to each Group, the Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.016.06;
(xvxvi) The with respect to each Group, the amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) aboveMaster Servicer;
(xvii) The the Pool Factor for Class A-1 and Class A-2 after giving effect to the distribution to be made on the Payment Date, computed to six (6) decimal places;
(xviii) with respect to each Group, the amount, if any, transferred from the Simple Interest Excess Sub-Account to the Distribution Certificate Account pursuant to Section 5.03 6.02 and from the Spread Account to the Distribution Certificate Account pursuant to Section 4.016.11;
(xviiixix) The the percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each GroupAmount, the Excess Spread for each Group, and the Monthly Remainder Excess Spread Amount for each Groupallocable to Reimbursable Amounts and Class R Certificateholders pursuant to Section 6.06(b), the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.016.11;
(xixxx) The the amounts which are reimbursable to the Servicer or the Seller, as appropriateMaster Servicer, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ixSections 6.06(b)(xiii);
(xxxxi) The with respect to each Group, the number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixxii) The amount the amounts on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for Simple Interest Excess Sub-Account and the Mortgage Loans in monthly withdrawals therefrom as to each Group as a percentage of the related Cut-Off Date Principal Balance;Group; and
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating with respect to each Class Group, the number and Principal Balance of Class A Certificates and all Mortgage Loans that were Liquidated Mortgage Loans during the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofDue Period. The Trustee shall make forward such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies Master Servicer and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” to Moody's and S&P on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Payment Date. The Trustee may fully rely upon and shall upo▇ ▇▇▇ ▇hall have no liability with respect to information provided by the Master Servicer. To the extent that there are inconsistencies between the telecopy of Trustee's Report received prior to the Payment Date and the Trustee’s Remittance 's Report received on the Payment Date, the Master Servicer, the Depositor and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer Certificate Insurer may rely upon the latter. In the case of information furnished pursuant to subclauses (iiiii), (x) and (ixxiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
(a) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Class A Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (vii) and (x) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(b) On each Payment Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Class A Certificateholders in respect of such Payment Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Payment Date together with such other information as the Trustee deems necessary or appropriate.
(c) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(d) Upon reasonable advance notice in writing, the Master Servicer will provide to each Class A Certificateholder which is a savings and loan association, bank or insurance company access to information and documentation regarding the Mortgage Loans sufficient to permit such Class A Certificateholders to comply with applicable regulations of the Federal Deposit Insurance Corporation or other regulatory authorities with respect to investment in the Class A Certificates.
(e) The Master Servicer and the Trustee shall furnish to each Certificateholder and to the Certificate Insurer, during the term of this Agreement, such periodic, special, or other reports or information, whether or not provided for herein, as shall be necessary, reasonable, or appropriate with respect to the Certificateholder or the Certificate Insurer, as the case may be, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Certificateholder or the Certificate Insurer, as the case may be, may reasonably require; provided, that the Master Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder or the Certificate Insurer, as the case may be, for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer tapes furnished by the Master Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to S&P, Moody's, the Certificate Insurer's reinsurers, parent, regulators, ▇▇▇▇▇▇▇ty providers and auditors, provided that the Certificate Insurer shall attempt in good faith to cause such additional Persons to acknowledge in writing the foregoing restrictions, and in connection with the purposes and requirements of this Agreement. No Person entitled to receive copies of such reports or tapes or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Originator or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Funding Corp)
Statements. (a) Not later than 12:00 noon California time on the fourth 5:00 p.m. one Business Day following the last day of a Due Period, the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as prior to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Payment Date, the Trustee Master Servicer shall deliver make available to the ServicerIndenture Trustee and the Yield Maintenance Counterparty, and concurrently with each distribution to Securityholders, the Depositor Master Servicer shall make available to each Securityholder, the Seller, the Owner Trustee and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Dateeach Rating Agency, a statement based solely on loan-level information provided to it by the Servicers (the “Trustee’s Remittance Report”"Payment Date Statement") containing as to the distributions to be made or made, as applicable, on such Payment Date. Information in the Payment Date Statement relating to or based on amounts available in the Yield Maintenance Account shall be based on information set forth below provided by the Yield Maintenance Counterparty regarding any required Net Yield Maintenance Payments to be made by the Issuer or any Net Yield Maintenance Amounts or Yield Maintenance Amounts required to be paid by the Yield Maintenance Counterparty for the related Payment Date pursuant to the Yield Maintenance Agreements. The Indenture Trustee shall confirm to the Master Servicer receipt of any Net Yield Maintenance Amounts or Yield Maintenance Amounts in the Yield Maintenance Account on the Business Day immediately preceding such Payment Date. The Payment Date Statement will include the following:
(i) the aggregate amount of the payment to be made on such Payment Date to the Holders of each Class of Notes, to the extent any such information applicable, allocable to principal;
(ii) the aggregate amount of the payment to be delivered by the Servicer pursuant made on such Payment Date to the first sentence Holders of this Section 5.01(aeach Class of Notes allocable to interest and the calculation thereof;
(iii) has been so deliveredthe amount, if any, of any distribution to the Holders of the Trust Certificate;
(A) the aggregate amount of any Monthly Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Payment Date, (B) the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The aggregate amount of all Curtailments in each Group that were received during such Monthly Advances actually made, and (C) the Due Periodamount, if any, by which (A) above exceeds (B) above;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The total number of Mortgage Loans in the aggregate and the aggregate Scheduled Principal Balance in the aggregate and separately for each Group outstanding of the Three-Year, Five-Year, Seven-Year and Ten-Year Hybrid Mortgage Loans, in each case at the beginning and close of business at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of Period and the Spread Account after the Distribution Net Funds Cap for such Payment Date;
(xxiivi) The the Class Principal Amount of each Class of Notes, to the extent applicable, as of such Payment Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Note Principal Amounts due to Applied Loss Amounts;
(vii) the amount of losses experienced on any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date;
(viii) the amount of the Master Servicing Fees, Servicing Fees and Indenture Trustee Fees, if any, paid during the Due Period to which such distribution relates;
(ix) the number and aggregate Scheduled Principal Balance of Mortgage Loans, (a) delinquent 30 to 59 days on a contractual basis, (b) delinquent 60 to 89 days on a contractual basis, (c) delinquent 90 or more days on a contractual basis, (d) as to which foreclosure proceedings have been commenced in the month in which such Payment Date occurs, in each Group during case as of the close of business on the last Business Day of the calendar month immediately preceding, (e) in bankruptcy and (f) that are REO Properties;
(x) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding Due Period and the cumulative losses for the month in which such Payment Date occurs;
(xi) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Group as a percentage Deleted Mortgage Loan, and of the related Cut-Off Date Principal Balanceeach Qualified Substitute Mortgage Loan;
(xxiiixii) The Class A-2 Available Funds Carryforwardthe aggregate outstanding Deferred Amounts, Carryforward Interest, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Notes, after giving effect to all distributions payments made on such Distribution Payment Date;
(xxivxiii) The amount of Class the Note Interest Carryover Shortfall relating Rate applicable to such Payment Date with respect to each Class of Class A Certificates Notes;
(xiv) the Interest Remittance Amount and the Class A-IO CertificatesPrincipal Remittance Amount applicable to such Payment Date;
(xv) the Monthly Excess Interest and Monthly Excess Cashflow for such Payment Date;
(xvi) the Overcollateralization Amount, separately stating the amount that is allocable to each such Class Overcollateralization Deficiency, if any, the Principal Payment Amount and the amount allocable to interest and principalExtra Principal Payment Amount for such Payment Date; and
(xxvxvii) Whether the level of LIBOR and any Net Yield Maintenance Payments being made by the Issuer expressed as a Servicer Termination Delinquency Event or dollar amount and as a Servicer Termination Loss Event has occurred per annum rate which reduced the Net Funds Cap and specifying any Net Yield Maintenance Amounts and Yield Maintenance Amounts being paid by the details thereofYield Maintenance Counterparty for such period and the notional balances on each Yield Maintenance Agreement for such Payment Date. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall also be expressed as a dollar amount per $1,000 of original principal amount of Notes. The Trustee shall Master Servicer will make such report the Payment Date Statement (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders and the other parties to this Agreement via the Master Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its 's internet website. The Master Servicer's internet website shall initially be located at “▇▇▇"www.ctslink.com.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. " Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇▇▇▇ ▇▇▇ ▇▇ster Servicer's customer service desk at (301) 815-6600. Parties that are unable to use the above distribution method are entitled distributio▇ ▇▇▇▇▇▇ ▇▇▇ ▇ntitled to have a paper copy mailed to them via first class mail by calling the investor relations customer service desk and indicating such. In additionThe Master Servicer shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, together with and the Master Servicer shall provide timely and adequate notification to all parties regarding any such reportchange.
(b) Within a reasonable period of time after the end of each calendar year, the Indenture Trustee shall, upon written request, furnish to each Person who at any time during the calendar year was a Securityholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing aggregate payment information necessary to enable Holders of the Securities to prepare their tax returns. Such obligation of the Indenture Trustee shall forward be deemed to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect been satisfied to information provided by the Servicer. To the extent that there are inconsistencies between substantially comparable information shall be prepared and furnished by the telecopy Indenture Trustee to Securityholders pursuant to any requirements of the Trustee’s Remittance Report and the hard copy issued upon request Code as are in force from time to time.
(pursuant to the preceding paragraphc) thereofOn each Payment Date, the Master Servicer may rely upon the latter. In the case of information furnished pursuant shall supply an electronic tape to subclauses (ii) and (ix) aboveBloomberg Financial Markets, the amounts shall be expressed Inc. in a separate section of the report as format acceptable to Bloomberg Financial Markets, Inc. on a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Datemonthly basis, and shall supply an electronic tape to Loan Performance and Intex Solutions in a format acceptable to Loan Performance and Intex Solutions on a monthly basis.
Appears in 1 contract
Sources: Sale and Servicing Agreement (Thornburg Mortgage Inc)
Statements. (a) Not later than 12:00 noon California time noon, Maryland time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee and Certificate Insurer by electronic means a computer tape file containing the information set forth on Exhibit D as to each Mortgage Loan called for by clauses (i) through (xxiv) below as of such the end of the preceding Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination 4:00 p.m., New York time, three Business Days prior to each Distribution Date, the Trustee shall deliver to the Servicer, the Depositor Certificate Insurer and to the Certificate Insurer, Seller by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a confirmation of the items in clause (i) below. Not later than one Business Day prior to each Distribution Date the Trustee shall deliver a statement (the “"Trustee’s 's Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification or calculation thereof:
(i) The Group 1 and Group 2 Available Funds for each Certificate Group and each Class's Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest for each Loan Group paid as principal;
(vi) the Servicing Fee, the Premium Amount and the Reimbursement Amount;
(vii) the Loan Group Balance of each Loan Group and the Pool Balance, in each case as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) the amount of the Insured Payments, if any, to be made on such Distribution Date;
(xi) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, Loan Group that were the subject of Principal Prepayments during the Due Period;
(ivxii) The amount of all Curtailments in each Loan Group that were received during the Due Period;
(vxiii) The principal portion of all Monthly Payments for in each Loan Group received during the Due Period;
(vixiv) The amount interest portion of interest all Monthly Payments in each Loan Group received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The For each Certificate Group, the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiiixvii) The weighted average remaining term to maturity of the Mortgage Loans in each Loan Group and the weighted average Loan Rate in each Groupas of the first day of the month prior to the Distribution Date;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xvxviii) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Loan Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxiixx) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for Loan Losses and the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) For each Loan Group, as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) any LIBOR Carryover distributed and any remaining LIBOR Carryover;
(xxiii) The Class A-2 Available Funds CarryforwardFor each Loan Group, if anythe number and aggregate Principal Balance of Mortgage Loans, after giving effect to all distributions on such Distribution Date;other than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period; and
(xxiv) The amount of Class Interest B Cap Carryover Shortfall relating distributed to each the Class of Class A B Certificates and the amount of Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofB Cap Carryover remaining. The Trustee shall make forward such report available to the Servicer, the Depositor, the CertificateholdersSeller, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date; provided, however, that the Trustee shall remove from the report the Premium Amount to be paid to the Certificate Insurer prior to the submission to Bloomberg and Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. The Servicer shall calculate all items in clauses (i) - (xxiv) above. To the extent that there are inconsistencies between the telecopy of the Trustee’s 's Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to each Certificateholder and to the Certificate Insurer (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or to the Certificate Insurer or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder or the Certificate Insurer may reasonably require; PROVIDED that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder or the Certificate Insurer for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or for the internal use of the Certificate Insurer and its counsel or to the Rating Agencies, the Certificate Insurer's reinsurers, parent, regulators, liquidity providers and auditors, PROVIDED that the Certificate Insurer shall attempt in good faith to cause such additional Persons to acknowledge in writing the foregoing restrictions, and in connection with the purposes and requirements of this Agreement. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Funding Corp /De/)
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) through (xxvi) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require, and the Seller hereby agrees to provide the Trustee and the Servicer with an amended Prepayment Charge Schedule, if required, at such time. Not later than 12:00 noon California time on the Determination Date, each Distribution Date the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, prepare a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based solely upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds and each the Certificate Rate for each Class for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee and the Trustee Fee (including the separate amounts payable to each of the Trustee and its Custodian);
(vii) the Pool Balance as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The number the Overcollateralization Amount and Principal Balances of all Mortgage Loans and the Required Overcollateralization Amount I as of the Mortgage Loans in each Groupclose of business on the Distribution Date, that were after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the subject calculation thereof;
(xi) the aggregate amount of Principal Prepayments received during the Due related Prepayment Period;
(ivxii) The the amount of all Curtailments in each Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class P Certificates, Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Groupas of the first day of the related Due Period;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvivi) The Pool Factor for each Group determined using (as reported by the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01Servicer);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) for the Distribution Dates in October 2003, the amount, if any, on deposit in the First Payment Loan Account;
(xxiii) The Class A-2 Available Funds Carryforwardthe number and aggregate Principal Balance of Mortgage Loans, if anyother than Mortgage Loans in default or imminent default, after giving effect to all distributions on such Distribution Datethat were modified by the Servicer during the related Due Period (as reported by the Servicer);
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Offered Certificates and (other than the Class A-IO Certificates), stating separately stating any amounts received from the amount that is allocable cap provider with respect to each such Class the Interest Rate Cap Agreements, and the amount allocable to interest of Net Rate Cap Carryover remaining for each such Class;
(xxv) the amount on deposit in the Net Rate Cap Fund, and principalthe amounts of each deposit and withdrawal from such Account; and
(xxvxxvi) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying for each Pre-Funding Distribution Date, the details thereofremaining amount in the Pre-Funding Account. The Trustee shall make available such report available to the Servicer, the DepositorSeller, the Certificateholders, the Certificate InsurerRating Agencies, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 1 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the parties to this Agreement via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇ ▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Class R Certificateholders in the same manner as the Remittance Report is made available to all Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Tax Matters Perons and furnished to Certificateholders by the Trustee or Tax Matters Person pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to the Depositor, the Seller and each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Renaissance Mort Accept Corp Home Equity Ln as Bk Ce Se 03-3)
Statements. Not (a) No later than 12:00 noon California time on the fourth Business Day following the last day of a Due Periodeach Determination Date, the ---------- Servicer shall deliver to the Indenture Trustee a magnetic tape or computer tape containing disk providing such information regarding the information set forth on Exhibit D as to each Mortgage Loan as of such Servicer's activities in servicing the Home Loans during the related Due Period and such other information as the Indenture Trustee shall may reasonably require. Not .
(1) Subject to the modification of the Servicer's Monthly Statement by the Servicer with the prior written consent of the Majority Securityholders and the Indenture Trustee, no later than 12:00 noon California time on the Determination three (3) Business Days before each Payment Date, the Servicer shall prepare and the Indenture Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with distribute a hard copy thereof to be delivered on the succeeding Distribution Date, a monthly statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) "Servicer's Monthly Statement", with respect to such Distribution Payment Date) to the Seller, the Securityholders and each Rating Agency, stating the date of original issuance of the Securities (day, month and year), the name of the Issuer (I.E., "FIRSTPLUS Home Loan Owner Trust 1998-4"), the series designation of the Securities (I.E., "Series 1998-4"), the date of this Agreement and the following information:
(i) The Group 1 the Available Collection Amount, the Regular Payment Amount and Group 2 Available Funds and each Certificate Rate the Excess Spread for the related Distribution Payment Date;
(ii) The the amount, if any, on deposit in the Pre-Funding Account on such Payment Date;
(iii) the Class Principal Balance of each Class of Class A Certificates Securities (and the Component Principal Balance or Component Notional Balance Balance, as applicable, of each Class the Components of Class A-IO Certificates the Residual Interest Certificate), and the Aggregate Pool Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance day of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance Due Period and after giving effect to payments and distributions made to the holders of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Periodsuch Securities on such Payment Date;
(iv) The amount the Class Pool Factor with respect to each Class of all Curtailments in each Group that were received during the Due PeriodSecurities then outstanding, carried to seven decimal places;
(v) The the amount of principal portion of all Monthly Payments for each Group and interest received on the Home Loans during the related Due Period;
(vi) The amount the amount, if any, of interest received on the Mortgage Loans in each GroupOvercollateralization Surplus;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date Servicing Compensation for each Groupsuch Payment Date;
(viii) The delinquency the Overcollateralization Amount with respect to such Payment Date, the Required Overcollateralization Amount as of such Payment Date, the Net Loan Losses incurred during the related Due Period and foreclosure information set forth in the form attached hereto as Exhibit Lcumulative Net Loan Losses with respect to such Payment Date;
(ix) The Remittance Amount for the amount, if any, paid on such Payment Date to each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separatelySubordinate Securities in respect of Deferred Amounts;
(x) The with respect to each Class of Subordinate Securities and the B-2 Component of the Residual Interest Certificate, the amount of the Insured any applicable Deferred Amounts for each Group, if any, remaining unreimbursed after giving effect to be paid payments made on the Distribution such Payment Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Home Loans in each Group and the weighted average Home Loan Interest Rate of the Home Loans each as of such Payment Date;
(xii) certain performance information, including delinquency and foreclosure information with respect to the Home Loans, as set forth in each Groupthe Servicer's Monthly Remittance Report;
(xiii) the amount of any Servicing Advance Reimbursement Amount to be paid to the Servicer on such Payment Date, and the amount of any Servicing Advance Reimbursement Amount remaining unpaid following such payment;
(xiv) The Servicing Fee for each Group the number of and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount aggregate Principal Balance of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Home Loans in foreclosure proceedings (other than any Home Loans described in clause (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv)) and the amount paid percent of the aggregate Principal Balances of such Home Loans to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number the aggregate Principal Balances of Mortgage Loans in each Group outstanding at all Home Loans, all as of the beginning and at close of business on the end last day of the related Due Period;
(xxixv) The amount on deposit in each sub-account the number of and the aggregate Principal Balance of the Spread Account after Home Loans in bankruptcy proceedings (other than any Home Loans described in clause (xvii)) and the Distribution Datepercent of the aggregate Principal Balances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the last day of the related Due Period;
(xxiixvi) The amount the number of losses experienced on Foreclosure Properties, the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage aggregate Principal Balance of the related Cut-Off Date Home Loans, the book value of such Foreclosure Properties and the percent of the aggregate Principal BalanceBalances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the last day of the related Due Period;
(xxiiixvii) The Class A-2 Available Funds Carryforwardduring the related Due Period, if anythe aggregate Principal Balance of Home Loans for each of the following: (A) that became Liquidated Home Loans and (B) that became Deleted Home Loans pursuant to Section 3.05 as a result of such Deleted Home Loans being Liquidated Home Loans or a Home Loan in foreclosure, after giving effect to all distributions on such Distribution Datedefault or imminent default, including the foregoing amounts by loan type;
(xxivxviii) The amount from the Closing Date through the most current Due Period, the cumulative aggregate Principal Balance of Class Interest Carryover Shortfall relating Home Loans for each of the following: (A) that became Liquidated Home Loans, and (B) that became Deleted Home Loans pursuant to each Class Section 3.05 as a result of Class A Certificates such Deleted Home Loans being in foreclosure, default or imminent default;
(xix) the scheduled principal payments and the Class A-IO Certificates, separately stating principal prepayments received with respect to the amount that is allocable to each such Class and Home Loans during the amount allocable to interest and principalrelated Due Period;
(xx) the number of Home Loans remaining in the Home Loan Pool; and
(xxvxxi) Whether such other information as may be reasonably requested by the Indenture Trustee.
(2) No later than three (3) Business Days before each Payment Date, the Servicer shall prepare and distribute to the Seller and each Rating Agency a monthly statement that includes the cumulative aggregate Principal Balance of Home Loans that became Deleted Home Loans pursuant to Section 3.05(c) as a result of such Deleted Home Loans being Defective Home Loans, from the Closing Date through the most current Due Period.
(3) No later than seven days following a repurchase or substitution pursuant to Sections 2.06, 3.05 or 4.02, the Servicer Termination Delinquency Event shall notify each Rating Agency of the aggregate principal balances of the Home Loans repurchased or a substituted and (if applicable) the relevant Substitution Adjustment. All reports prepared by the Servicer Termination Loss Event has occurred of the withdrawals from and specifying deposits in the details thereof. The Collection Account will be based in whole or in part upon the information provided to the Indenture Trustee shall make such report available to by the Servicer, and the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Indenture Trustee may fully rely upon and shall have no liability with respect to such information provided by the Servicer.
(c) Within a reasonable period of time after the end of each calendar year, the Servicer shall prepare and direct the Indenture Trustee to distribute to each Person who at any time during the calendar year was a Securityholder, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (b)(iv) and (v) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Securityholder. To Such obligation of the Indenture Trustee shall be deemed to have been satisfied to the extent that there are inconsistencies between substantially comparable information shall be provided by the telecopy Servicer to the Securityholders pursuant to any requirements of the Trustee’s Remittance Report Code as are in force from time to time.
(d) On each Payment Date, the Indenture Trustee shall forward to DTC and to the hard holder of the Residual Interest Certificate a copy issued upon request of the Servicer's Monthly Statement in respect of such Payment Date and a statement setting forth the amounts actually distributed to the holder of the Residual Interest Certificate on such Payment Date, together with such other information as the Indenture Trustee deems necessary or appropriate.
(e) Within a reasonable period of time after the end of each calendar year, the Servicer shall prepare and direct the Indenture Trustee to distribute to each Person who at any time during the calendar year was the holder of the Residual Interest Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the preceding paragraphprevious paragraph aggregated for such calendar year or applicable portion thereof during which such Person was the holder of the Residual Interest Certificate. Such obligation of the Indenture Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the holder of the Residual Interest Certificate pursuant to any requirements of the Code as are in force from time to time.
(f) thereofUpon reasonable advance notice in writing, the Servicer will provide to each Securityholder which is a savings and loan association, bank or insurance company access to information and documentation regarding the Home Loans sufficient to permit such Securityholder to comply with applicable regulations of the FDIC or other regulatory authorities with respect to investment in such Securities.
(g) The Servicer or its agent shall furnish to the Indenture Trustee, who in turn shall forward to each Securityholder, during the term of this Agreement, such periodic, special, or other reports, including information tax returns or reports required with respect to the Securities, including Internal Revenue Service Forms 1099 and (if instructed in writing by the Seller on the basis of the advice of legal counsel) and other similar reports that are required to be filed by the Servicer or its agent and the holder of Residual Interest Certificate, whether or not provided for herein, as shall be necessary, reasonable, or appropriate with respect to the Securityholders or the holders of the Residual Interest Certificate, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Securityholders may rely upon reasonably require.
(h) Reports and computer tapes furnished by the latter. In Servicer and the case of information furnished Indenture Trustee pursuant to subclauses (ii) and (ix) above, the amounts this Agreement shall be expressed deemed confidential and of proprietary nature, and shall not be copied or distributed except in a separate section connection with the purposes and requirements of this Agreement. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the report Seller or the Servicer or for any other purpose except as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Dateset forth in this Agreement.
Appears in 1 contract
Sources: Sale and Servicing Agreement (Firstplus Investment Corp)
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) through (xxvi) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require, and the Seller hereby agrees to provide the Trustee and the Servicer with an amended Prepayment Charge Schedule, if required, at such time. Not later than 12:00 noon California time on the Determination Date, each Distribution Date the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, prepare a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based solely upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds and each the Certificate Rate for each Class for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee and the Trustee Fee (including the separate amounts payable to each of the Trustee and its Custodian);
(vii) the Pool Balance as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The number the Overcollateralization Amount and Principal Balances of all Mortgage Loans and the Required Overcollateralization Amount I as of the Mortgage Loans in each Groupclose of business on the Distribution Date, that were after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the subject calculation thereof;
(xi) the aggregate amount of Principal Prepayments received during the Due related Prepayment Period;
(ivxii) The the amount of all Curtailments in each Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class P Certificates, Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Groupas of the first day of the related Due Period;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvivi) The Pool Factor for each Group determined using (as reported by the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01Servicer);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) for the Distribution Dates in October 2003, the amount, if any, on deposit in the First Payment Loan Account;
(xxiii) The Class A-2 Available Funds Carryforwardthe number and aggregate Principal Balance of Mortgage Loans, if anyother than Mortgage Loans in default or imminent default, after giving effect to all distributions on such Distribution Datethat were modified by the Servicer during the related Due Period (as reported by the Servicer);
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Offered Certificates and (other than the Class A-IO Certificates), stating separately stating any amounts received from the amount that is allocable cap provider with respect to each such Class the Interest Rate Cap Agreements, and the amount allocable to interest of Net Rate Cap Carryover remaining for each such Class;
(xxv) the amount on deposit in the Net Rate Cap Fund, and principalthe amounts of each deposit and withdrawal from such Account; and
(xxvxxvi) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying for each Pre-Funding Distribution Date, the details thereofremaining amount in the Pre-Funding Account. The Trustee shall make available such report available to the Servicer, the DepositorSeller, the Certificateholders, the Certificate InsurerRating Agencies, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 1 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the parties to this Agreement via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇ ▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Class R Certificateholders in the same manner as the Remittance Report is made available to all Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Tax Matters Persons and furnished to Certificateholders by the Trustee or Tax Matters Person pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to the Depositor, the Seller and each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Renaissance Mort Accept Corp Home Equity Ln as Bk Ce Se 03-3)
Statements. Not later than 12:00 noon California Chicago, Illinois time on the fourth Business Day following the last day of a Due Periodpreceding each Determination Date, the Servicer shall deliver to the Trustee and the Certificate Insurer a computer tape or written report containing the information set forth on Exhibit D EXHIBIT R as to each Mortgage Loan as of such with respect to the related Due Period and such other information with respect to the Mortgage Loans in the aggregate as the Trustee shall reasonably require. Not later than 12:00 noon California Chicago, Illinois time on the Determination two Business Days preceding each Distribution Date, the Trustee shall deliver to the Depositors, any Paying Agent, the Servicer, the Depositor and to the Certificate Insurer, ▇▇▇▇▇'▇ and S&P by telecopy, by request, a statement (the "REMITTANCE Report") prepared based on the information provided by the Servicer on EXHIBIT R containing the information set forth below with respect to the succeeding Distribution Date, with a hard copy thereof to be delivered on the immediately succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution DateBusiness Day:
(i) The Group 1 and Group 2 the Available Funds attributable to each Mortgage Loan Group and each Certificate Rate for any portion of the related Distribution DateAvailable Funds that has been deposited in the Collection Account but may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to ▇▇▇▇▇▇▇ ▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Bankruptcy Code;
(ii) The the Class A-1F Principal Balance, the Class A-2F Principal Balance, the Class A-3F Principal Balance, the Class A-4F Principal Balance, the Class A-5F Principal Balance, the Class A-6F Principal Balance, the Class A-7F Principal Balance, the Class A-1A Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of the with respect to each Mortgage Loans in each Group Loan Group, as reported pursuant to SUBCLAUSE (XIII) below in the prior Trustee’s Remittance Report pursuant to subclause (xii) belowprovided for the immediately preceding Distribution Date, or, in the case of the first Determination Date, the Original Class Certificate A-1F Principal Balance, the Original Class A-2F Principal Balance, the Original Class A-3F Principal Balance, the Original Class A-4F Principal Balance, the Original Class A-5F Principal Balance, the Original Class A-6F Principal Balance, the Original Class A-7F Principal Balance, the Original Class A-1A Principal Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Pool Principal Balance of the with respect to each Mortgage Loans in each Loan Group;
(iii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the number and the aggregate Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that which were the subject of Principal Prepayments during the related Due Period;
(iv) The with respect to the Mortgage Pool and each Mortgage Loan Group, the amount of all Curtailments in each Group that which were received during the related Due Period;
(v) The with respect to the Mortgage Pool and each Mortgage Loan Group, the aggregate amount of principal portion portions of all Monthly Payments for each Group received during the related Due Period;
(vi) The with respect to the Mortgage Pool and each Mortgage Loan Group, the amount of interest received on the Mortgage Loans in each Groupduring the related Due Period;
(vii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the aggregate amount of the Monthly Advances made and the Compensating Interest payment recovered with respect to be made on the Determination Date for each Groupsuch Distribution Date;
(viii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the delinquency and foreclosure information set forth in the form attached hereto as Exhibit LEXHIBIT H and the amount of Mortgage Loan Losses during the related Due Period;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for A-1F Principal Balance, the Distribution Date;
(xii) The Class A-2F Principal Balance, the Class A-3F Principal Balance, the Class A-4F Principal Balance, the Class A-5F Principal Balance, the Class A-6F Principal Balance, the Class A-7F Principal Balance, and the Class A-1A Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the such Distribution Date;
(xiiix) The with respect to the Mortgage Pool and each Mortgage Loan Group, the weighted average remaining term to maturity and the weighted average Mortgage Interest Rate of the Mortgage Loans in each Mortgage Loan Group and as of the weighted average Loan Rate in each Grouplast day of the related Due Period;
(xivxi) The the Servicing Fee for each Group Fees paid and Servicing Fees accrued during the amount to be paid to the Certificate Insurer pursuant to Section 5.01related Due Period;
(xvxii) The the amount of all payments or reimbursements to the Servicer pursuant to Section 3.03SECTION 5.04 (II), (IV), (V), (VI) AND (VII) paid or to be paid since the prior Distribution Date (or in the case of the first Distribution Date, since the Closing Date);
(xvixiii) The the Pool Factor Principal Balance and aggregate Principal Balance for each Mortgage Loan Group determined using as of the balances in subclause (ii) abovelast day of the related Due Period;
(xviixiv) The amount, if any, transferred from such other information as the Simple Interest Excess Account to Certificate Insurer and the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01Certificateholders may reasonably require;
(xviiixv) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer Servicer, the Representative or the SellerDepositors, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix)SECTION 6.05;
(xxxvi) The with respect to the Mortgage Pool and each Mortgage Loan Group, the number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixvii) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced aggregate interest accrued on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses at their respective Mortgage Interest Rates for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal BalanceDue Period;
(xxiiixviii) The Class A-2 Available Funds Carryforwardthe Overcollateralized Amount, if anythe Overcollateralization Target Amount and any Overcollateralization Deficiency Amount for each Certificate Group for each Distribution Date, in each case after giving effect to all distributions on such Distribution Date;
(xxivxix) The amount the aggregate Mortgage Loan Losses since the Cut-off Date as of the end of the related Due Period;
(xx) the Class A-1A LIBOR Interest Carryover, Fixed Rate Group 1 Interest Carryover Shortfall relating and Fixed Rate Group 2 Interest Carryover with respect to such Distribution Date and, any such unpaid Class A-1A LIBOR Interest Carryover, Fixed Rate Group 1 Interest Carryover and Fixed Rate Group 2 Interest Carryover from prior Distribution Date(s), including interest accrued thereon; and
(xxi) the Pass-Through Rate for each Class of Class A Certificates and for the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalrelated Accrual Period; and
(xxvxxii) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofaggregate amount of interest and/or principal (reported separately) to be distributed on each Class of Certificates on such Distribution Date. The Trustee shall make forward such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer Certificateholders on the Distribution Date, by telecopy, with a hard copy to follow (in the case of the Depository) or by first class mail. The Depositors and the Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer and the Trustee may rely upon the lattertelecopy. In the case of information furnished pursuant to subclauses SUBCLAUSE (ii) and (ixXXII) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each of the Class A Certificates for each $1,000 original dollar principal amount as of the Cut-Off off Date.
(a) Upon reasonable advance notice in writing, the Servicer will provide to the Trustee access to information and documentation regarding the Mortgage Loans sufficient to permit any Holder which is a savings and loan association, bank or insurance company to comply with applicable regulations of the FDIC or other regulatory authorities with respect to investment in the Certificates, as applicable.
(b) Not later than 10 days after each Distribution Date, the Servicer shall provide the Cumulative Loss Percentage to the Trustee and the Certificate Insurer as of the most recent Distribution Date. In addition, the Servicer shall furnish to the Trustee and to the Certificate Insurer, during the term of this Agreement, such periodic, special, or other reports or information not specifically provided for herein, as may be necessary, reasonable, or appropriate with respect to the Trustee or the Certificate Insurer, as the case may be, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Trustee or the Certificate Insurer may reasonably require; PROVIDED, that the Servicer shall be entitled to be reimbursed by the requesting party, for the fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of its business.
(c) Reports and computer tapes furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of proprietary nature, and shall not be copied or distributed except in connection with the purposes and requirements of this Agreement; provided that the Certificate Insurer may copy or distribute such information (A) pursuant to a subpoena or order issued by a court of competent jurisdiction or by a judicial or administrative or legislative body or committee, (B) as may be required in any report, statement or testimony submitted to any Federal, state, municipal or other regulatory body having jurisdiction over the Certificate Insurer, (C) in order to comply with any law, ruling, order or regulation applicable to the Certificate Insurer, or (D) as may be required by any rating agency or reinsurer. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the Originators or for any other purpose except as set forth in this Agreement.
(d) The Trustee shall promptly send to the Certificate Insurer and, upon request, to each Certificateholder in writing:
(i) notice of the appointment of any Subservicer;
(ii) notice of any transfer of any Account to a different depository institution;
(iii) a copy of each Officer's Certificate delivered pursuant to SECTION 7.04 and any notice received from the Servicer of a change in the fiscal year of the Servicer;
(iv) a copy of each letter delivered pursuant to SECTION 7.05; and
(v) notice of the receipt by the Trustee of any information regarding the Servicer's servicing activities pursuant to the last paragraph of SECTION 10.01(C). PROVIDED, that in each case the Trustee shall only be required to send such notices and other items to such Persons to the extent that the Trustee has itself received the related information. The Depositors, the Servicer and the Trustee on behalf of Certificateholders (the "TRUST PARTIES") hereby authorize the Certificate Insurer to include the information contained in reports provided to the Certificate Insurer hereunder (the "INFORMATION") on The Bloomberg, an on-line computer based information network maintained by Bloomberg L.P. ("BLOOMBERG"), or in other electronic or print information services. The Trust Parties agree not to commence any actions or proceedings, or otherwise assert any claims, against the Certificate Insurer or its affiliates or any of the Certificate Insurer's or its affiliates' respective agents, representatives, directors, officers or employees (collectively, the "CERTIFICATE INSURER PARTIES"), arising out of, or related to or in connection with the dissemination and/or use of any Information by the Certificate Insurer, including, but not limited to, claims based on allegations of inaccurate, incomplete or erroneous transfer of information by the Certificate Insurer to Bloomberg or otherwise (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Trust Parties waive their rights to assert any such claims against the Certificate Insurer Parties and fully and finally release the Certificate Insurer Parties from any and all such claims, demands, obligations, actions and liabilities (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Certificate Insurer makes no representations or warranties, expressed or implied, of any kind whatsoever with respect to the accuracy, adequacy, timeliness, completeness, merchantability or fitness for any particular purpose of any Information in any form or manner. The Certificate Insurer reserves the right at any time to withdraw or suspend the dissemination of the Information by the Certificate Insurer. The authorizations, covenants and obligations of the Trust Parties under this section shall be irrevocable and shall survive the termination of this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Eqcc Home Equity Loan Trust 1999-3)
Statements. Not later than 12:00 noon California Chicago, Illinois time on the fourth Business Day following the last day of a Due Periodpreceding each Determination Date, the Servicer shall deliver to the Trustee and the Certificate Insurer a computer tape or written report containing the information set forth on Exhibit D R as to each Mortgage Loan as of such with respect to the related Due Period and such other information with respect to the Mortgage Loans in the aggregate as the Trustee shall reasonably require. Not later than 12:00 noon California Chicago, Illinois time on the Determination two Business Days preceding each Distribution Date, the Trustee shall deliver to the Depositors, any Paying Agent, the Servicer, the Depositor and to the Certificate Insurer, [Rating Agency] and [Rating Agency] by telecopy, by request, a statement (the "Remittance Report") containing the information set forth below with respect to the succeeding Distribution Date, with a hard copy thereof to be delivered on the immediately succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution DateBusiness Day:
(i) The the Available Payment Amount attributable to each Mortgage Loan Group 1 and Group 2 any portion of the Available Funds and each Certificate Rate for Payment Amount that has been deposited in the related Distribution DateCollection Account but may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to Sect▇▇▇ ▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇kruptcy Code;
(ii) The the Class A-1F Principal Balance, the Class A-1A Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of the with respect to each Mortgage Loans in each Group Loan Group, as reported in the prior Trustee’s Remittance Report provided pursuant to subclause (xiixiii) belowbelow for the immediately preceding Distribution Date, or, in the case of the first Determination Date, the Original Class Certificate A-1F Principal Balance, the Original Class A-1A Principal Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Pool Principal Balance of the with respect to each Mortgage Loans in each Loan Group;
(iii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that which were the subject of Principal Prepayments during the related Due Period;
(iv) The with respect to the Mortgage Pool and each Mortgage Loan Group, the amount of all Curtailments in each Group that which were received during the related Due Period;
(v) The with respect to the Mortgage Pool and each Mortgage Loan Group, the aggregate amount of principal portion of all Monthly Payments for each Group received during the related Due Period;
(vi) The with respect to the Mortgage Pool and each Mortgage Loan Group, the amount of interest received on the Mortgage Loans in each Groupduring the related Due Period;
(vii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the aggregate amount of the Monthly Advances made and the Compensating Interest payment recovered with respect to be made on the Determination Date for each Groupsuch Distribution Date;
(viii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the delinquency and foreclosure information set forth in the form attached hereto as Exhibit LH and the amount of Mortgage Loan Losses during the related Due Period;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class A-1F Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate A-1A Principal Balance of each Group, each after giving effect to the distribution to be made on the such Distribution Date;
(xiiix) The with respect to the Mortgage Pool and each Mortgage Loan Group, the weighted average remaining term to maturity and the weighted average Mortgage Interest Rate of the Mortgage Loans in each Mortgage Loan Group and as of the weighted average Loan Rate in each Grouplast day of the related Due Period;
(xivxi) The the Servicing Fee for each Group Fees paid and Servicing Fees accrued during the amount to be paid to the Certificate Insurer pursuant to Section 5.01related Due Period;
(xvxii) The the amount of all payments or reimbursements to the Servicer pursuant to Section 3.035.04 (ii), (iv), (v), (vi) and (vii) paid or to be paid since the prior Distribution Date (or in the case of the first Distribution Date, since the Closing Date);
(xvixiii) The the Pool Factor Principal Balance and aggregate Principal Balance for each Mortgage Loan Group determined using as of the balances in subclause (ii) abovelast day of the related Due Period;
(xviixiv) The amount, if any, transferred from such other information as the Simple Interest Excess Account to Certificate Insurer and the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01Certificateholders may reasonably require;
(xviiixv) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer Servicer, the Representative or the SellerDepositors, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix)6.05;
(xxxvi) The with respect to the Mortgage Pool and each Mortgage Loan Group, the number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixvii) The the aggregate interest accrued on the Mortgage Loans at their respective Mortgage Interest Rates for the related Due Period;
(xviii) the Subordinated Amount, the amount on deposit in each sub-account of the Spread Account after Account, the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans Cumulative Excess Spread Receipts, in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, case after giving effect to all distributions any payments or withdrawals on such Distribution Date, and with respect to the Mortgage Pool and each Mortgage Loan Group, the Excess Spread with respect to such Distribution Date;
(xxivxix) The amount the aggregate Mortgage Loan Losses since the Cut-off Date as of the end of the related Due Period;
(xx) the Class A-1A LIBOR Interest Carryover Shortfall relating and Class A-1F LIBOR Interest Carryover with respect to each such Distribution Date and, any such unpaid Class of A-1A LIBOR Interest Carryover and Class A Certificates and the Class A-IO CertificatesA-1F LIBOR Interest Carryover from prior Distribution Date(s), separately stating the amount that is allocable to each such Class and the amount allocable to including interest and principalaccrued thereon; and
(xxvxxi) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred the Class A-1F Pass-Through Rate and specifying the details thereofClass A-1A Pass-Through Rate for the related Accrual Period. The Trustee shall make forward such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer Certificateholders on the Distribution Date, by telecopy, with a hard copy to follow (in the case of the Depository) or by first class mail. The Depositors and the Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer and the Trustee may rely upon the lattertelecopy. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each of the Class A Certificates for each $1,000 original dollar principal amount as of the Cut-Off off Date.
(a) Upon reasonable advance notice in writing, the Servicer will provide to the Trustee access to information and documentation regarding the Mortgage Loans sufficient to permit any Holder which is a savings and loan association, bank or insurance company to comply with applicable regulations of the FDIC or other regulatory authorities with respect to investment in the Certificates, as applicable.
(b) Not later than 10 days after each Distribution Date, the Servicer shall provide the Loss Coverage Ratio to the Trustee and the Certificate Insurer as of the most recent Distribution Date. In addition, the Servicer shall furnish to the Trustee and to the Certificate Insurer, during the term of this Agreement, such periodic, special, or other reports or information not specifically provided for herein, as may be necessary, reasonable, or appropriate with respect to the Trustee or the Certificate Insurer, as the case may be, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Trustee or the Certificate Insurer may reasonably require; provided, that the Servicer shall be entitled to be reimbursed by the requesting party, for the fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of its business.
(c) Reports and computer tapes furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of proprietary nature, and shall not be copied or distributed except in connection with the purposes and requirements of this Agreement; provided that the Certificate Insurer may copy or distribute such information (A) pursuant to a subpoena or order issued by a court of competent jurisdiction or by a judicial or administrative or legislative body or committee, (B) as may be required in any report, statement or testimony submitted to any Federal, state, municipal or other regulatory body having jurisdiction over the Certificate Insurer, (C) in order to comply with any law, ruling, order or regulation applicable to the Certificate Insurer, or (D) as may be required by any rating agency or reinsurer. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the Originators or for any other purpose except as set forth in this Agreement.
(d) The Trustee shall promptly send to the Certificate Insurer and, upon request, to each Certificateholder in writing:
(i) notice of any reduction in the Specified Spread Account Requirement;
(ii) notice of any reduction of the percentages set forth in the definition of "Monthly Excess Spread Amount";
(iii) notice of the appointment of any Subservicer;
(iv) notice of any transfer of any Account to a different depository institution;
(v) a copy of each Officer's Certificate delivered pursuant to Section 7.04 and any notice received from the Servicer of a change in the fiscal year of the Servicer;
(vi) a copy of each letter delivered pursuant to Section 7.05; and
(vii) notice of the receipt by the Trustee of any information regarding the Servicer's servicing activities pursuant to the last paragraph of Section 10.01(c). -84- 96 provided, that in each case the Trustee shall only be required to send such notices and other items to such Persons to the extent that the Trustee has itself received the related information. The Depositors, the Servicer and the Trustee on behalf of Certificateholders (the "Trust Parties") hereby authorize the Certificate Insurer to include the information contained in reports provided to the Certificate Insurer hereunder (the "Information") on The Bloomberg, an on-line computer based information network maintained by Bloomberg L.P. ("Bloomberg"), or in other electronic or print information services. The Trust Parties agree not to commence any actions or proceedings, or otherwise assert any claims, against the Certificate Insurer or its affiliates or any of the Certificate Insurer's or its affiliates' respective agents, representatives, directors, officers or employees (collectively, the "Certificate Insurer Parties"), arising out of, or related to or in connection with the dissemination and/or use of any Information by the Certificate Insurer, including, but not limited to, claims based on allegations of inaccurate, incomplete or erroneous transfer of information by the Certificate Insurer to Bloomberg or otherwise (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Trust Parties waive their rights to assert any such claims against the Certificate Insurer Parties and fully and finally release the Certificate Insurer Parties from any and all such claims, demands, obligations, actions and liabilities (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Certificate Insurer makes no representations or warranties, expressed or implied, of any kind whatsoever with respect to the accuracy, adequacy, timeliness, completeness, merchantability or fitness for any particular purpose of any Information in any form or manner. The Certificate Insurer reserves the right at any time to withdraw or suspend the dissemination of the Information by the Certificate Insurer. The authorizations, covenants and obligations of the Trust Parties under this section shall be irrevocable and shall survive th termination of this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Eqcc Receivables Corp)
Statements. Not later than 12:00 noon California Chicago, Illinois time on the fourth Business Day following the last day of a Due Periodpreceding each Determination Date, the Servicer shall deliver to the Trustee and the Certificate Insurer a computer tape or written report containing the information set forth on Exhibit D EXHIBIT R as to each Mortgage Loan as of such with respect to the related Due Period and such other information with respect to the Mortgage Loans in the aggregate as the Trustee shall reasonably require. Not later than 12:00 noon California Chicago, Illinois time on the Determination two Business Days preceding each Distribution Date, the Trustee shall deliver to the Depositors, any Paying Agent, the Servicer, the Depositor and to the Certificate Insurer, Moody's and S&P by telecopy, by request, a statement (the "REMITTANCE REPORT") containing the information set forth below with respect to the succeeding Distribution Date, with a hard copy thereof to be delivered on the immediately succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution DateBusiness Day:
(i) The the Available Payment Amount attributable to each Mortgage Loan Group 1 and Group 2 any portion of the Available Funds and each Certificate Rate for Payment Amount that has been deposited in the related Distribution DateCollection Account but may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to ▇▇▇▇▇▇▇ ▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Bankruptcy Code;
(ii) The the Class A-1F Principal Balance, the Class A-2F Principal Balance, the Class A-3F Principal Balance, the Class A-4F Principal Balance, the Class A-5F Principal Balance, the Class A-6F Principal Balance, the Class A-1A Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of the with respect to each Mortgage Loans in each Group Loan Group, as reported in the prior Trustee’s Remittance Report provided pursuant to subclause SUBCLAUSE (xiiXIII) belowbelow for the immediately preceding Distribution Date, or, in the case of the first Determination Date, the Original Class Certificate A-1F Principal Balance, the Original Class A-2F Principal Balance, the Original Class A-3F Principal Balance, the Original Class A-4F Principal Balance, the Original Class A-5F Principal Balance, the Original Class A-6F Principal Balance, the Original Class A-1A Principal Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Pool Principal Balance of the with respect to each Mortgage Loans in each Loan Group;
(iii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that which were the subject of Principal Prepayments during the related Due Period;
(iv) The with respect to the Mortgage Pool and each Mortgage Loan Group, the amount of all Curtailments in each Group that which were received during the related Due Period;
(v) The with respect to the Mortgage Pool and each Mortgage Loan Group, the aggregate amount of principal portion of all Monthly Payments for each Group received during the related Due Period;
(vi) The with respect to the Mortgage Pool and each Mortgage Loan Group, the amount of interest received on the Mortgage Loans in each Groupduring the related Due Period;
(vii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the aggregate amount of the Monthly Advances made and the Compensating Interest payment recovered with respect to be made on the Determination Date for each Groupsuch Distribution Date;
(viii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the delinquency and foreclosure information set forth in the form attached hereto as Exhibit LEXHIBIT H and the amount of Mortgage Loan Losses during the related Due Period;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for A-1F PrinCameon rincipal Balance, the Distribution Date;
(xii) The Class A-2F Principal Balance, the Class A-3F Principal Balance, the Class A-4F Principal Balance, the Class A-5F Principal Balance, the Class A-6F Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate A-1A Principal Balance of each Group, each after giving effect to the distribution to be made on the such Distribution Date;
(xiiix) The with respect to the Mortgage Pool and each Mortgage Loan Group, the weighted average remaining term to maturity and the weighted average Mortgage Interest Rate of the Mortgage Loans in each Mortgage Loan Group and as of the weighted average Loan Rate in each Grouplast day of the related Due Period;
(xivxi) The zthe Servicing Fee for each Group Fees paid and Servicing Fees accrued during the amount to be paid to the Certificate Insurer pursuant to Section 5.01related Due Period;
(xvxii) The the amount of all payments or reimbursements to the Servicer pursuant to Section 3.03SECTION 5.04 (II), (IV), (V), (VI) AND (VII) paid or to be paid since the prior Distribution Date (or in the case of the first Distribution Date, since the Closing Date);
(xvixiii) The the Pool Factor Principal Balance and aggregate Principal Balance for each Mortgage Loan Group determined using as of the balances in subclause (ii) abovelast day of the related Due Period;
(xviixiv) The amount, if any, transferred from such other information as the Simple Interest Excess Account to Certificate Insurer and the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01Certificateholders may reasonably require;
(xviiixv) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer Servicer, the Representative or the SellerDepositors, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix)SECTION 6.05;
(xxxvi) The with respect to the Mortgage Pool and each Mortgage Loan Group, the number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixvii) The the aggregate interest accrued on the Mortgage Loans at their respective Mortgage Interest Rates for the related Due Period;
(xviii) the Subordinated Amount, the amount on deposit in each sub-account of the Spread Account after Account, the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans Cumulative Excess Spread Receipts, in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, case after giving effect to all distributions any payments or withdrawals on such Distribution Date, and with respect to the Mortgage Pool and each Mortgage Loan Group, the Excess Spread with respect to such Distribution Date;
(xxivxix) The amount the aggregate Mortgage Loan Losses since the Cut-off Date as of the end of the related Due Period;
(xx) the Class A-1A LIBOR Interest Carryover Shortfall relating and Fixed Rate Interest Carryover with respect to such Distribution Date and, any such unpaid Class A-1A LIBOR Interest Carryover and Fixed Rate Interest Carryover from prior Distribution Date(s), including interest accrued thereon; and
(xxi) the Pass-Through Rate for each Class of Class A Certificates and for the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofrelated Accrual Period. The Trustee shall make forward such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer Certificateholders on the Distribution Date, by telecopy, with a hard copy to follow (in the case of the Depository) or by first class mail. The Depositors and the Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer and the Trustee may rely upon the lattertelecopy. In the case of information furnished pursuant to subclauses SUBCLAUSES (iiII) and AND (ixIX) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each of the Class A Certificates for each $1,000 original dollar principal amount as of the Cut-Off off Date.
(a) Upon reasonable advance notice in writing, the Servicer will provide to the Trustee access to information and documentation regarding the Mortgage Loans sufficient to permit any Holder which is a savings and loan association, bank or insurance company to comply with applicable regulations of the FDIC or other regulatory authorities with respect to investment in the Certificates, as applicable.
(b) Not later than 10 days after each Distribution Date, the Servicer shall provide the Loss Coverage Ratio to the Trustee and the Certificate Insurer as of the most recent Distribution Date. In addition, the Servicer shall furnish to the Trustee and to the Certificate Insurer, during the term of this Agreement, such periodic, special, or other reports or information not specifically provided for herein, as may be necessary, reasonable, or appropriate with respect to the Trustee or the Certificate Insurer, as the case may be, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Trustee or the Certificate Insurer may reasonably require; PROVIDED, that the Servicer shall be entitled to be reimbursed by the requesting party, for the fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of its business.
(c) Reports and computer tapes furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of proprietary nature, and shall not be copied or distributed except in connection with the purposes and requirements of this Agreement; provided that the Certificate Insurer may copy or distribute such information (A) pursuant to a subpoena or order issued by a court of competent jurisdiction or by a judicial or administrative or legislative body or committee, (B) as may be required in any report, statement or testimony submitted to any Federal, state, municipal or other regulatory body having jurisdiction over the Certificate Insurer, (C) in order to comply with any law, ruling, order or regulation applicable to the Certificate Insurer, or (D) as may be required by any rating agency or reinsurer. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the Originators or for any other purpose except as set forth in this Agreement.
(d) The Trustee shall promptly send to the Certificate Insurer and, upon request, to each Certificateholder in writing:
(i) notice of any reduction in the Specified Spread Account Requirement;
(ii) notice of any reduction of the percentages set forth in the definition of "Monthly Excess Spread Amount;"
(iii) notice of the appointment of any Subservicer;
(iv) notice of any transfer of any Account to a different depository institution;
(v) a copy of each Officer's Certificate delivered pursuant to SECTION 7.04 and any notice received from the Servicer of a change in the fiscal year of the Servicer;
(vi) a copy of each letter delivered pursuant to SECTION 7.05; and
(vii) notice of the receipt by the Trustee of any information regarding the Servicer's servicing activities pursuant to the last paragraph of SECTION 10.01(C). PROVIDED, that in each case the Trustee shall only be required to send such notices and other items to such Persons to the extent that the Trustee has itself received the related information. The Depositors, the Servicer and the Trustee on behalf of Certificateholders (the "TRUST PARTIES") hereby authorize the Certificate Insurer to include the information contained in reports provided to the Certificate Insurer hereunder (the "INFORMATION") on The Bloomberg, an on-line computer based information network maintained by Bloomberg L.P. ("BLOOMBERG"), or in other electronic or print information services. The Trust Parties agree not to commence any actions or proceedings, or otherwise assert any claims, against the Certificate Insurer or its affiliates or any of the Certificate Insurer's or its affiliates' respective agents, representatives, directors, officers or employees (collectively, the "CERTIFICATE INSURER PARTIES"), arising out of, or related to or in connection with the dissemination and/or use of any Information by the Certificate Insurer, including, but not limited to, claims based on allegations of inaccurate, incomplete or erroneous transfer of information by the Certificate Insurer to Bloomberg or otherwise (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Trust Parties waive their rights to assert any such claims against the Certificate Insurer Parties and fully and finally release the Certificate Insurer Parties from any and all such claims, demands, obligations, actions and liabilities (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Certificate Insurer makes no representations or warranties, expressed or implied, of any kind whatsoever with respect to the accuracy, adequacy, timeliness, completeness, merchantability or fitness for any particular purpose of any Information in any form or manner. The Certificate Insurer reserves the right at any time to withdraw or suspend the dissemination of the Information by the Certificate Insurer. The authorizations, covenants and obligations of the Trust Parties under this section shall be irrevocable and shall survive the termination of this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Eqcc Home Equity Loan Trust 1999-1)
Statements. Not Each month for so long as a Class of Auction Rate Certificates is Outstanding, not later than 12:00 noon California New York time on the fourth Business Day following the last day of a Due PeriodAuction Reporting Date, the Servicer shall deliver to the Trustee a computer tape containing Certificate Insurer and the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate InsurerTrustee, by telecopy, the receipt and legibility of which shall be confirmed telephonically, with a hard copy thereof to be delivered on the succeeding Distribution Business Day following the Determination Date, a statement certificate signed by a Servicing Officer stating the date (day, month and year), the “Trustee’s Series number of the Certificates, the date of this Agreement, and the amount to be distributed on the upcoming Remittance Report”) containing Date to each Class of Auction Rate Certificates as a payment of principal. Each month, not later than 12:00 noon New York time on the information set forth below (Determination Date, the Servicer shall deliver to the extent any such information Certificate Insurer and to the Trustee, by telecopy, for distribution to the Certificateholders, the receipt and legibility of which shall be confirmed telephonically, with hard copy thereof and the Servicer's Monthly Computer Tape in the form attached hereto as Exhibit R (both in hard copy and in computer tape form) to be delivered on the Business Day following the Determination Date, a certificate signed by a Servicing Officer (a "Servicer's Certificate") stating the Servicer pursuant to date (day, month and year), the first sentence Series number of the Certificates, the date of this Section 5.01(a) has been so delivered) with respect to such Distribution DateAgreement, and the following:
(i) The Group 1 and Group 2 the Pool Available Funds and Remittance Amounts for each Certificate Rate Pool for the related Distribution Remittance Date;
(ii) The the Class Principal Balance of Balances for each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report Servicer's Certificate pursuant to subclause (xiixv) below, or, in the case of the first Determination Date, the Original Class Certificate Principal Balance of for each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each GroupCertificates;
(iii) The the Pool Principal Distribution Amounts for each Pool for the related Remittance Date, in the aggregate and listed separately for the portions relating to each Class of Class A Certificates;
(iv) the total amount of any Insured Payments included in the Pool Available Remittance Amount for each Pool for the related Remittance Date;
(v) the Subordinated Amount and Specified Subordinated Amount for the related Remittance Date, listed separately for each Pool;
(vi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that Pool which were the subject of Principal Prepayments during the Due Period;
(ivvii) The the amount of all Curtailments in each Group that which were received during the Due Period, stated separately for each Pool;
(vviii) The principal portion the aggregate amount of all Excess Payments and the amounts of Monthly Payments for each Group in respect of principal received during the Due Period, stated separately for each Pool;
(viix) The the amount of interest received on the Mortgage Loans in Loans, stated separately for each GroupPool;
(viix) The the amount of the Monthly Advances to be made on the Determination Date, the portion of the Monthly Advances to be deposited in the Certificate Accounts pursuant to Section 6.01(a)(ii), and the Compensating Interest payment to be made on the Determination Date Date, in each case stated separately for each GroupPool;
(viiixi) The the delinquency and foreclosure information set forth in the form attached hereto as Exhibit LO, stated separately for each Pool;
(ixxii) The the amount of any Realized Losses incurred during the related Due Period, stated separately for each Pool;
(xiii) the Pool Remittance Amount Amounts for each Pool for the Remittance Date, in the aggregate and by component and listed separately for the portions relating to each Class of Class A Certificates in the related Pool and, with respect to the Auction Rate Certificates, the amount otherwise required to be distributed thereon with respect to principal and Class A-IO Certificates retained in the Certificate Account for the Distribution Date with the components thereof stated separatelyPool II pursuant to Section 6.08(f);
(xxiv) The amount of the Insured Reimbursable Amounts for each Group, if any, and the Class X Remittance Amount payable pursuant to be paid on Section 6.08(d)(iii) and (v) with respect to the Distribution Remittance Date;
(xixv) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of for each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of for each Group, each Pool after giving effect to the distribution to be made on the Distribution Remittance Date and after allocation of Realized Losses made on such Remittance Date;
(xiiixvi) The weighted average remaining term the Monthly Excess Spread Percentage, the Excess Spread, and the Remainder Excess Spread Amount allocable to maturity of the Mortgage Loans Reimbursable Amounts and Class R Certificateholders pursuant to Section 5.04(f) (in each Group case, in the aggregate and stated separately for each Pool);
(xvii) the Cumulative Realized Losses, stated separately for each Pool, with respect to the Remittance Date;
(xviii) the weighted average Loan Rate in maturity and weighted average Interest Rate, stated separately for each GroupPool;
(xivxix) The the Servicing Fee Fees, the Contingency Fees, the Auction Agent Fees and amounts to be deposited to the Expense Accounts and the Insurance Accounts, in each case, as applicable, stated separately for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01Pool;
(xvxx) The the amount of all payments or and reimbursements to the Servicer pursuant to Section 3.035.04(b), (c), (d)(ii), (e) and (f)(i), stated separately with respect to each Pool;
(xvixxi) The the Class Pool Factor for each Group Class determined using the balances in subclause (iixv) above;
(xviixxii) The amountthe weighted average Mortgage Interest Rate and Adjusted Mortgage Interest Rate of the Mortgage Loans for each Pool and the weighted average Class Adjusted Loan Remittance Rates for each Pool, in each case for the related Remittance Date, and the weighted average Mortgage Interest Rate for the prior three month period;
(xxiii) the Class A-9 and Class A-10 Remittance Rates with respect to the Remittance Date and if either of the Class A-9 or Class A-10 Remittance Rate was based on the Net Funds Cap, what it would have been if based on LIBOR plus the applicable Margin or the Auction Rate, as the case may be;
(xxiv) the rate of LIBOR and the Auction Rate with respect to the Remittance Date;
(xxv) the Net Funds Cap for Pool II applicable to each Class of Pool II Certificates with respect to the Remittance Date;
(xxvi) if the Remittance Rate for a Class of Pool II Certificates for such Remittance Date is based on the Net Funds Cap, the amount of any Certificateholders' Interest Carryover for such Class for such Remittance Date;
(xxvii) the amount of the distribution, if any, transferred from allocable to Certificateholders' Interest Carryover and the Simple amount of any Certificateholders' Interest Excess Account Carryover for all prior Remittance Dates after giving effect to such distribution (in each case, stated separately by Class and in the aggregate);
(xxviii) [Reserved]
(xxx) [Reserved]
(xxxi) [Reserved]
(xxxii) [Reserved]
(xxxiii) [Reserved]
(xxxiv) [Reserved]
(xxxv) Such other information as the Certificate Insurer and the Certificateholders may reasonably require. The Trustee shall forward such report to the Distribution Certificateholders and the Certificate Insurer on the Remittance Date, together with a separate report indicating the amount of funds deposited in each Certificate Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess 6.01(a)(iv); and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the SellerRepresentative, as appropriate, pursuant to Section 5.01(a)(ivSections 6.03(c)(i), 6.03(c)(ii), 6.04(b)(iv) and 6.08(d)(iii) (all reports prepared by the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number Trustee of Mortgage Loans such withdrawals and deposits will be based in each Group outstanding at whole or in part upon the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available information provided to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer). To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report Servicer's Certificate and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may Trustee shall be entitled to rely upon the lattertelecopy. In the case of information furnished pursuant to subclauses (ii), (vi), (vii), (viii), (xiii), (xv) and (ix) xxii), above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each per $1,000 (or, in the case of the Auction Rate Certificates, per $25,000) original dollar amount as of the Cut-Off Date. Additionally, on the Special Remittance Date the Trustee shall, based upon information received from the Servicer, forward to the Certificateholders, the Certificate Insurer and the Rating Agencies, a report setting forth the amount of principal and interest, if any, being paid to each Class of Class A Certificates on the Special Remittance Date.
(a) Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish to the Trustee for distribution to each Person who at any time during the calendar year was a Class A Certificateholder such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (ix), (xiii), (xix) and (xxxv), above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time are in force.
(b) On each Remittance Date and the Special Remittance Date, the Trustee shall forward to the Class X and Class R Certificateholders a copy of the report forwarded to the Certificateholders of each Pool in respect of such Remittance Date or the Special Remittance Date, as the case may be, and a statement setting forth the amounts actually distributed to the Class X and Class R Certificateholders, on such Remittance Date together with such other information as the Servicer provides and deems necessary or appropriate.
(c) Within a reasonable period of time after the end of each calendar year, the Servicer shall furnish to the Trustee for distribution to each Person who at any time during the calendar year was a Class X or Class R Certificateholder such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class X or R Certificateholder, as applicable. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as from time to time in force.
(d) Upon reasonable advance notice in writing, the Servicer will provide to each Class A Certificateholder which is a savings and loan association, bank or insurance company certain reports and access to information and documentation regarding the Mortgage Loans sufficient to permit such Class A Certificateholder to comply with applicable regulations of the Office of Thrift Supervision or other regulatory authorities with respect to investment in the Class A Certificates.
(e) The Servicer shall furnish to each Certificateholder and the Certificate Insurer, during the term of this Agreement, such periodic, special, or other reports or information, whether or not provided for herein, as shall be necessary, reasonable, or appropriate with respect to the Certificateholder or the Certificate Insurer, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Certificateholder or the Certificate Insurer may reasonably require; provided, that the Servicer shall be entitled to be reimbursed by such Certificateholder or the Certificate Insurer for the Servicer's actual expenses incurred in providing such reports if such reports are not producible in the ordinary course of the Servicer's business.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Money Store Home Equity Corp)
Statements. Not (a) No later than 12:00 noon California time on the fourth Business Day following the last day of a Due Periodeach Determination Date, the Servicer shall deliver to the Indenture Trustee (i) a printed report setting forth the payments and collections received with respect to the Loans during the Due Period for the month immediately preceding the month in which such Determination Date occurs (each such tape, a "Servicer Remittance Report") and (ii),if not included in the Servicer Remittance Report, a printed report and an electromagnetic tape in computer tape containing readable format, setting forth the information set forth on Exhibit D as to each Mortgage Loan as described in clauses (A) - (I) of Section 6.1(b) for the month immediately preceding the month in which such Due Period and Determination Date occurs (such other information as the Trustee shall reasonably requirereport, a "Delinquency Report"). Not Furthermore, no later than 12:00 noon California time on the each Determination Date, the Trustee Servicer shall deliver to the Indenture Trustee a magnetic tape or computer disk providing such information regarding the Servicer, 's activities in servicing the Depositor and to Loans during the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on related Due Period as the succeeding Indenture Trustee may reasonably require.
(b) On each Distribution Date, Indenture Trustee shall distribute, based on information provided by the Servicer, a monthly statement (the “Trustee’s Remittance Report”) containing the information set forth below ("Distribution Statement"), to the extent any such information to be delivered by Depositor, the Servicer pursuant to Securityholders and the first sentence Rating Agencies, stating the date of original issuance of the Securities (day, month and year), the name of the Issuer (i.e. "_______________ Trust ____________"), the series designation of the Notes (i.e., "Series ___________"), the date of this Section 5.01(a) has been so delivered) with respect to such Distribution DateAgreement and the following information:
(i) The Group 1 the Available Collection Amount and Group 2 Available Funds and each Certificate Rate Distribution Amount for the related Distribution Date;
(ii) The the Class Principal Balance of each Class of Class A Certificates Notes before and after giving effect to distributions made to the holders of such Securities on such Distribution Date, and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance and last day of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each GroupDue Period;
(iii) The number and Principal Balances of all Mortgage Loans and the Class Factor with respect to each Class of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due PeriodSecurities then outstanding;
(iv) The the amount of all Curtailments in each Group that were principal and interest received on the Loans during the related Due Period;
(v) The principal portion with respect to each Class of all Monthly Payments for each Group received during Notes, the Due PeriodOptimal Principal Balance thereof;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances Overcollateralization Deficiency Amount, and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The any amount to be distributed to the Class R Certificateholders for Noteholders or the holders of the Residual Interests on such Distribution Date;
(xiivii) The Class Principal Balance of each Class of Class A Certificates the Servicing Compensation, the Indenture Trustee Fee, the Owner Trustee Fee and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Custodial Fee for such Distribution Date;
(xiiiviii) The the Overcollateralization Amount on such Distribution Date, the Overcollateralization Target Amount as of such Distribution Date, the Net Loan Losses incurred during the related Due Period, the cumulative Net Loan Losses as of such Distribution Date and Allocable Loss Amount for such Distribution Date;
(ix) the weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Interest Rate in each Groupof the Loans;
(xivx) The Servicing Fee for each Group certain performance information, including delinquency and the amount to be paid foreclosure information with respect to the Certificate Insurer pursuant to Section 5.01;Loans, as set forth in the Servicer's Monthly Remittance Report; and
(xvxi) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Pre-Funding Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period. In addition, on each Distribution Date the Indenture Trustee shall distribute to each Securityholder, together with the information described above, the following information based solely upon information provided to the Indenture Trustee pursuant to Section 6.1(a) upon which the Indenture Trustee may conclusively rely without independent verification:
(A) the number and aggregate Principal Balance (including the percentage equivalent relative to the aggregate Principal Balance of all Loans) of Loans (i) 30-59 days delinquent, (ii) 60-89 days delinquent and (iii) 90 days or more delinquent (which statistics shall include Loans in foreclosure and bankruptcy but which shall exclude Foreclosure Properties), as of the close of business on the last day of the calendar month next preceding such Distribution Date and the aggregate Principal Balances of all Loans as of such date;
(xxiB) The amount on deposit the number of, and aggregate Principal Balance of, all Loans in each sub-account foreclosure proceedings (other than any Loans described in clause (C)) and the percent of the Spread Account after aggregate Principal Balances of such Loans to the Distribution Date;
(xxii) The amount aggregate Principal Balances of losses experienced all Loans, all as of the close of business on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage last day of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on calendar month next preceding such Distribution Date;
(xxivC) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates the number of, and the Class A-IO Certificatesaggregate Principal Balance of, separately stating the amount that is allocable related Loans in bankruptcy proceedings (other than any Loans described in clause (B)) and the percent of the aggregate Principal Balances of such Loans to the aggregate Principal Balances of all Loans, all as of the close of business on the last day of the calendar month next preceding such Distribution Date;
(D) the number of Foreclosure Properties, the aggregate Principal Balances of the related Loans, the book value of such Foreclosure Properties and the percent of the aggregate Principal Balances of such Loans to the aggregate Principal Balances of all Loans, all as of the close of business on the last day of the calendar month next preceding such Distribution Date;
(E) for each Foreclosure Property, the Principal Balance of the related Loan, the loan number of such Class Loan, the value of the Mortgaged Property, the value established by any new appraisal, the estimated cost of disposing of the Loan and the amount allocable to interest and principal; andof any unreimbursed Servicing Advances;
(xxvF) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicerfor each Loan which is in foreclosure, the DepositorPrincipal Balance of such Loan, the Certificateholdersbook value of the Mortgaged Property, the Certificate Insurercombined loan-to-value ratio as of the date of origination, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” combined loan-to-value ratio as of the close of business on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy last day of the computer tape delivered by the Servicer on the calendar month next preceding such Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report Date and the hard copy issued upon request last paid-to-date;
(G) the principal balance of each Loan that was modified or extended pursuant to the preceding paragraphterms hereof;
(H) thereofduring the related Due Period, the Servicer may rely upon number of and aggregate Principal Balance and the latter. In loan numbers of Loans for each of the case of information furnished following: (A) that became Liquidated Loans, (B) that became Defective Loans pursuant to subclauses (ii) Section 3.5 as a result of such Defective Loans being Defective Loans, and (ixC) abovethat became Defaulted Loans;
(I) from the Closing Date through the most current Due Period, the amounts shall be expressed in a separate section number of and cumulative aggregate Principal Balance of Loans for each of the report following: (A) that became Liquidated Loans, (B) that became Defective Loans pursuant to Section 3.5 as a dollar amount for each Class for each $1,000 original dollar amount result of such Deleted Home loans being Defective Loans, and (C) that became Defective Loans pursuant to Section 3.5 as a result of such Defective Loans being Defaulted Loans or a Loan in default or imminent default, including the Cut-Off Date.foregoing amounts by loan type (i.
Appears in 1 contract
Sources: Sale and Servicing Agreement (Home Equity Securitization Corp)
Statements. Not later than 12:00 noon California time on the fourth Business Day following the last day of a Due Period, the Servicer The Borrower shall deliver to Lender:
(a) as soon as available and in any event within 120 days after the Trustee a computer tape containing end of each fiscal year of each of the information set Borrower and Reading & Bates the audited consolidated statements of operations, st▇▇▇▇▇lders equity and cash flow of the Borrower and Reading & Bates, setting forth in each case in comparative form th▇ ▇▇▇responding figures for the preceding fiscal year, and accompanied by an opinion on Exhibit D as such statements of an independent certified public accounting firm of recognized national standing acceptable to the Lender (such accountants being called herein Reporting Accountants ), which opinion shall state that such financial statements present fairly, in all material respects, the financial position of each Mortgage Loan of the Borrower and Reading & Bates as of the end of, and the respective results of operat▇▇▇▇ of each of the Borrower and Reading & Bates for, such Due Period fiscal year, in conformity with GAAP;
(b) as soon as available and such other information as in any event within 2 Business Days after Borrower s receipt of the Trustee shall reasonably require. Not later than 12:00 noon California time on Lockbox bank account statement from the Determination DateLockbox Bank, the Trustee shall deliver Monthly Statement and a list of all Drydocking Expenses paid in such month, with copies of all supporting documents, including the invoices for Drydocking Expenses;
(c) promptly following the delivery thereof to the Servicer, the Depositor and Borrower or to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on Board of Directors or management of the succeeding Distribution DateBorrower, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (copy of any management letter or written report by independent public accountants addressed to the extent Board of Directors of the Borrower or any committee of any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) board with respect to the financial condition, operations or business of the Borrower (except for such Distribution Dateletters or reports which relate only to tax planning for the Borrower);
(d) promptly after the Borrower knows or has reason to know that any Default has occurred and is continuing, a notice of such Default, describing the same in reasonable detail;
(e) promptly after delivery or receipt thereof, copies of all notices or documents given or received by the Borrower pursuant to any of the Transaction Documents concerning (i) any default or alleged default under, breach or alleged breach of, or the noncompliance with, any provision of any Transaction Document, (ii) any prospective inability to perform under any provision of any Transaction Document, (iii) any termination or attempted termination of any Transaction Document, (iv) any proposed amendment, supplement or other modification of any Transaction Document that under the Loan Documents requires the approval of Lender, or (v) any Force Majeure, in each case, which might reasonably be expected to have a material adverse effect on the Borrower;
(f) promptly and in any event within five Business Days after the existence of any of the following conditions, a certificate of an authorized officer of the Borrower specifying in reasonable detail the nature of such condition and the Borrower s or other R&B Party s proposed response thereto:
(i) the receipt by the Borrower after the date hereof of any communication (written or oral) from a Governmental Authority that alleges that any R&B Party is not in compliance with applicable environmental laws or Governmental Approvals which noncompliance could have a material adverse effect on the business, financial condition, operations or properties of the Borrower or the ability of the Borrower or any other R&B Party to perform its obligations in any material respect under each Transaction Document to which it is a party, (ii) the Borrower shall obtain actual knowledge that there exists any Environmental Loss pending or threatened against any other R&B Party which could have a material adverse effect on the business, financial condition, operations or properties of the Borrower or the ability of the Borrower or any other R&B Party to perform its obligations in any material respect under each Transaction Document to which it is a party, or (iii) the Borrower obtains actual knowledge of any release, emission, discharge or disposal of any Hazardous Substance that could form the basis of any Environmental Loss against any other R&B Party which could have a material adverse effect on the business, financial condition, operations or properties of the Borrower or the ability of the Borrower or any other R&B Party to perform its obligations in any material respect under each Transaction Document to which it is a party. The Group 1 Borrower will also maintain at the Vessel and Group 2 Available Funds make available for inspection by Lender and each Certificate Rate for its agents and employees, accurate and complete records of all investigations, studies, sampling and testing conducted, and all material remedial actions taken, by the related Distribution DateBorrower or, to its knowledge and to the extent obtained by the Borrower, by any Governmental Authority or other Person in respect of Hazardous Substances on or affecting the Vessel;
(iig) The Class Principal Balance within 30 days after the Borrower s fiscal quarter, the quarterly financial statements of each Class the Borrower; and
(h) concurrently with the delivery by a Company to a charterer under a Charter Agreement, a copy of Class A Certificates any invoice of fees due under such Charter Agreement (including the actual operating days in such period, the oil volume rate for such period, and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments tariffs paid for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ixsuch period);
(xxi) The number within five Business Days of Mortgage Loans in its execution, a copy of each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalCharter Agreement; and
(xxvj) Whether from time to time such other information and reports regarding the matters described above or otherwise concerning the Vessel or the financial condition, operations, business or properties of the Borrower as the Lender may reasonably request. The Borrower will furnish to the Lender, at the time it furnishes each set of financial statements pursuant to paragraph (a) or (b) above, a Servicer Termination Delinquency Event certificate of its chief executive officer or a Servicer Termination Loss Event chief financial officer to the effect that no Default has occurred and specifying is continuing (or, if any Default has occurred and is continuing, describing the details thereof. The Trustee shall make such report available same in reasonable detail and the action taken by or proposed to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered taken by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability Borrower with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Datethereto).
Appears in 1 contract
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means and to the Certificate Insurer via e-mail at [____________], a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) through (xxvii) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, each Distribution Date the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, prepare a statement (the “Trustee’s "Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds and each Class' Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee, the Premium Amount and the Reimbursement Amount;
(vii) the Pool Balance as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof;
(xi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(ivxii) The the amount of all Curtailments in each Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Groupas of the first day of the month prior to the Distribution Date;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) [Reserved];
(xxiii) The Class A-2 Available Funds Carryforwardthe number and aggregate Principal Balance of Mortgage Loans, if anyother than Mortgage Loans in default or imminent default, after giving effect to all distributions on such Distribution Datethat were modified by the Servicer during the related Due Period;
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Certificates and Offered Certificates, other than the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalof Net Rate Cap Carryover remaining for each such Class;
(xxv) for each Pre-Funding Distribution Date, the amount in the Initial Interest Coverage Account;
(xxvi) for each Pre-Funding Distribution Date, the remaining amount in the Pre-Funding Account; and
(xxvxxvii) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofamount of the Insured Payments, if any, to be made on such Distribution Date. The Trustee shall make available such report available to the Servicer, the Depositor, the CertificateholdersSeller, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date; provided, however, that the Trustee shall remove from the report the Premium Amount to be paid to the Certificate Insurer prior to the submission to Bloomberg and Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Renaissance Mortgage Acceptance Corp)
Statements. (a) Not later than 12:00 noon California time 11:00 a.m., Illinois time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee Securities Administrator by electronic means a computer tape file containing the information set forth on Exhibit D as to each Mortgage Loan called for by clauses (i) through (xxvii) below as of such the end of the preceding Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination 4:00 p.m., New York time, three Business Days prior to each Distribution Date, the Trustee Securities Administrator shall deliver to the Servicer, the Depositor and to Trustee, the Certificate Insurer, Insurer and the Seller by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a confirmation of the items in clause (i) below. Not later than two Business Days prior to each Distribution Date the Securities Administrator shall deliver to the Trustee a statement (the “Trustee’s "Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the information furnished by the Servicer upon which the Securities Administrator and the Trustee shall conclusively rely without independent verification or calculation thereof:
(i) The Group 1 and Group 2 the Available Funds for each Certificate Group and each Class' Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest for each Loan Group paid as principal;
(vi) the Servicing Fee, the Premium Amount and the Reimbursement Amount;
(vii) the Loan Group Balance of each Loan Group and the Pool Balance, in each case as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof;
(xi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, Loan Group that were the subject of Principal Prepayments during the Due Period;
(ivxii) The the amount of all Curtailments in each Loan Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for in each Loan Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments in each Loan Group received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The for each Certificate Group, the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class P, Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Loan Group and the weighted average Loan Rate in each Groupas of the first day of the month prior to the Distribution Date;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding Loan Groupoutstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) for each Loan Group, as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) any LIBOR Carryover distributed and any remaining LIBOR Carryover;
(xxiii) The Class A-2 Available Funds Carryforwardfor each Loan Group, if anythe number and aggregate Principal Balance of Mortgage Loans, after giving effect to all distributions on such Distribution Dateother than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period;
(xxiv) The the amount of Net Rate Cap Carryover distributed to the Class Interest Carryover Shortfall relating to A-1F and Class A-2F Certificates and each Class of Class A Subordinate Certificates and the Class Aamount of Net Rate Cap Carryover remaining for each such Class;
(xxv) for each Pre-IO CertificatesFunding Distribution Date, separately stating the amount that is allocable to remaining in the Initial Coverage Account;
(xxvi) for each such Class and Pre-Funding Distribution Date, the amount allocable to interest and principalremaining Allocated Pre-Funded Amount; and
(xxvxxvii) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofamount of the Insured Payments, if any, to be made on such Distribution Date. The Trustee shall make forward such report available to the Servicer, the Depositor, the CertificateholdersSeller, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date; provided, however, that the Trustee shall remove from the report the Premium Amount to be paid to the Certificate Insurer prior to the submission to Bloomberg and Intex Solutions. The Securities Administrator and the Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. The Servicer shall calculate all items in clauses (i) - (xxvii) above. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Securities Administrator will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and the parties to this Agreement via the Securities Administrator's internet website and its fax-on-demand service. The Securities Administrator's fax-on-demand service may be accessed by calling (▇▇▇) ▇▇▇-▇▇▇▇. The Securities Administrator's internet website shall initially be located at "▇▇▇.▇▇▇▇▇▇▇.▇▇▇". Assistance in using the website or the fax-on-demand service can be obtained by calling the Securities Administrator's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Securities Administrator or the Trustee or and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer, the Securities Administrator and the Trustee shall furnish to each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer, the Securities Administrator and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Funding Home Equity Loan Tr 99-3 Home Eq as Bk Se 99-3)
Statements. Not later than 12:00 noon California Chicago, Illinois time on the fourth Business Day following the last day of a Due Periodpreceding each Determination Date, the Servicer shall deliver to the Trustee and the Certificate Insurer a computer tape or written report containing the information set forth on Exhibit D R as to each Mortgage Loan as of such with respect to the related Due Period and such other information with respect to the Mortgage Loans in the aggregate as the Trustee shall reasonably require. Not later than 12:00 noon California Chicago, Illinois time on the Determination two Business Days preceding each Payment Date, the Trustee shall deliver to the Depositors, any Paying Agent, the Servicer, the Depositor and to the Certificate Insurer, ▇▇▇▇▇'▇ and S&P by telecopy, a statement (the "Remittance Report") containing the information set forth below with respect to the succeeding Payment Date, with a hard copy thereof to be delivered on the immediately succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution DateBusiness Day:
(i) The Group 1 the Available Payment Amount and Group 2 any portion of the Available Funds and each Certificate Rate for Payment Amount that has been deposited in the related Distribution DateCollection Account but may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to ▇▇▇▇▇▇▇ ▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Bankruptcy Code;
(ii) The the Class A-1 Principal Balance, the Class A-2 Principal Balance, the Class A-3 Principal Balance, the Class A-4 Principal Balance, the Class A-5 Principal Balance, the Class A-6 Principal Balance, the Class A-7 Principal Balance, the Class A-8 Principal Balance, the Class A-9 Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of the Mortgage Loans in each Group Balance, as reported in the prior Trustee’s Remittance Report provided pursuant to subclause (xiixiii) belowbelow for the immediately preceding Payment Date, or, in the case of the first Determination Date, the Original Class Certificate A-1 Principal Balance, the Original Class A-2 Principal Balance, the Original Class A-3 Principal Balance, the Original Class A-4 Principal Balance, the Original Class A-5 Principal Balance, the Original Class A-6 Principal Balance, the Original Class A-7 Principal Balance, the Original Class A-8 Principal Balance, the Original Class A-9 Principal Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Pool Principal Balance of the Mortgage Loans in each GroupBalance;
(iii) The the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that which were the subject of Principal Prepayments during the related Due Period;
(iv) The the amount of all Curtailments in each Group that which were received during the related Due Period;
(v) The the aggregate amount of principal portion of all Monthly Payments for each Group received during the related Due Period;
(vi) The the amount of interest received on the Mortgage Loans in each Groupduring the related Due Period;
(vii) The the aggregate amount of the Monthly Advances made and the Compensating Interest payment recovered with respect to be made on the Determination Date for each Groupsuch Payment Date;
(viii) The the delinquency and foreclosure information set forth in the form attached hereto as Exhibit LH and the amount of Mortgage Loan Losses during the related Due Period;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for A-1 Principal Balance, the Distribution Date;
(xii) The Class A-2 Principal Balance, the Class A-3 Principal Balance, the Class A-4 Principal Balance, the Class A-5 Principal Balance, the Class A-6 Principal Balance, the Class A-7 Principal Balance, the Class A-8 Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate A-9 Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution such Payment Date;
(xiiix) The the weighted average remaining term to maturity maturity, the weighted average Mortgage Interest Rate of the Mortgage Loans in each Group as of the last day of the related Due Period, and the weighted average Loan Net Mortgage Interest Rate in each Groupas of the last day of the Due Period preceding the related Accrual Period;
(xivxi) The the Servicing Fee for each Group Fees paid and Servicing Fees accrued during the amount to be paid to the Certificate Insurer pursuant to Section 5.01related Due Period;
(xvxii) The the amount of all payments or reimbursements to the Servicer pursuant to Section 3.035.04 (ii), (iv), (v), (vi) and (vii) paid or to be paid since the prior Payment Date (or in the case of the first Payment Date, since the Closing Date);
(xvixiii) The the Pool Factor for each Group determined using Principal Balance and aggregate Principal Balance as of the balances in subclause (ii) abovelast day of the related Due Period;
(xviixiv) The amountsuch other information as the Certificate Insurer, if any, transferred from each Account Party and the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01Certificateholders may reasonably require;
(xviiixv) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer Servicer, the Representative or the SellerDepositors, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix)6.05;
(xxxvi) The the number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixvii) The the aggregate interest accrued on the Mortgage Loans at their respective Mortgage Interest Rates for the related Due Period;
(xviii) the Principal Balance of Mortgage Loans in the Mortgage Pool with Mortgage Interest Rates less than 8.11% per annum and less than 8.01% per annum;
(xix) the Subordinated Amount, the amount on deposit in each sub-account of the Spread Account after Account, the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans Cumulative Excess Spread Receipts, in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, case after giving effect to all distributions any payments or withdrawals on such Distribution Payment Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates , and the Class A-IO Certificates, separately stating the amount that is allocable Excess Spread with respect to each such Class and the amount allocable to interest and principalPayment Date; and
(xxvxx) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying The aggregate Mortgage Loan Losses since the details thereofCut-off Date as of the end of the related Due Period. The Trustee shall make forward such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” Certificateholders on the related Distribution Payment Date. Assistance , by telecopy, with a hard copy to follow (in using the website can be obtained case of the Depository) or by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Datemail. The Depositors and the Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer and the Trustee may rely upon the lattertelecopy. In the case of information furnished pursuant to subclauses (ii), (iii), (iv), (v) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each of the Class A Certificates for each $1,000 original dollar amount as of the Cut-Off off Date.
(a) Upon reasonable advance notice in writing, the Servicer will provide to the Trustee access to information and documentation regarding the Mortgage Loans sufficient to permit any Holder which is a savings and loan association, bank or insurance company to comply with applicable regulations of the FDIC or other regulatory authorities with respect to investment in the Certificates, as applicable.
(b) The Servicer shall furnish to the Trustee and to the Certificate Insurer, during the term of this Agreement, such periodic, special, or other reports or information not specifically provided for herein, as may be necessary, reasonable, or appropriate with respect to the Trustee or the Certificate Insurer, as the case may be, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Trustee or the Certificate Insurer may reasonably require; provided, that the Servicer shall be entitled to be reimbursed by the requesting party, for the fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of its business.
(c) Reports and computer tapes furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of proprietary nature, and shall not be copied or distributed except in connection with the purposes and requirements of this Agreement; provided that the Certificate Insurer may copy or distribute such information (A) pursuant to a subpoena or order issued by a court of competent jurisdiction or by a judicial or administrative or legislative body or committee, (B) as may be required in any report, statement or testimony submitted to any Federal, state, municipal or other regulatory body having jurisdiction over the Certificate Insurer, (C) in order to comply with any law, ruling, order or regulation applicable to the Certificate Insurer, or (D) as may be required by any rating agency or reinsurer. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the Originators or for any other purpose except as set forth in this Agreement.
(d) The Trustee shall promptly send to the Certificate Insurer and to each Certificateholder) in writing:
(i) notice of any reduction in the Specified Spread Account Requirement;
(ii) notice of any reduction of the percentages set forth in the definition of "Monthly Excess Spread Amount";
(iii) notice of the appointment of any Subservicer;
(iv) notice of any transfer of any Account to a different depository institution;
(v) notice of any reduction in the rating of any Letter of Credit Bank below the minimum ratings described in Section 6.11(b);
(vi) a copy of each Officer's Certificate delivered pursuant to Section 7.04 and any notice received from the Servicer of a change in the fiscal year of the Servicer;
(vii) a copy of each letter delivered pursuant to Section 7.05; and
(viii) notice of the receipt by the Trustee of any information regarding the Servicer's servicing activities pursuant to the last paragraph of Section 10.01(c); provided, that in each case the Trustee shall only be required to send such notices and other items to such Persons to the extent that the Trustee has itself received the related information. The Depositors, the Servicer and the Trustee on behalf of Certificateholders (the "Trust Parties") hereby authorize the Certificate Insurer to include the information contained in reports provided to the Certificate Insurer hereunder (the "Information") on The Bloomberg, an on-line computer based information network maintained by Bloomberg L.P. ("Bloomberg"), or in other electronic or print information services. The Trust Parties agree not to commence any actions or proceedings, or otherwise assert any claims, against the Certificate Insurer or its affiliates or any of the Certificate Insurer's or its affiliates' respective agents, representatives, directors, officers or employees (collectively, the "Certificate Insurer Parties"), arising out of, or related to or in connection with the dissemination and/or use of any Information by the Certificate Insurer, including, but not limited to, claims based on allegations of inaccurate, incomplete or erroneous transfer of information by the Certificate Insurer to Bloomberg or otherwise (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Trust Parties waive their rights to assert any such claims against the Certificate Insurer Parties and fully and finally release the Certificate Insurer Parties from any and all such claims, demands, obligations, actions and liabilities (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Certificate Insurer makes no representations or warranties, expressed or implied, of any kind whatsoever with respect to the accuracy, adequacy, timeliness, completeness, merchantability or fitness for any particular purpose of any Information in any form or manner. The Certificate Insurer reserves the right at any time to withdraw or suspend the dissemination of the Information by the Certificate Insurer. The authorizations, covenants and obligations of the Trust Parties under this section shall be irrevocable and shall survive the termination of this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Eqcc Asset Backed Corp)
Statements. Not (a) No later than 12:00 noon California time on the fourth Business Day following the last day of a Due Periodeach Determination Date, the Servicer shall deliver to the Indenture Trustee a magnetic tape or computer tape containing disk providing such information regarding the information set forth on Exhibit D as to each Mortgage Loan as of such Servicer's activities in servicing the Home Loans during the related Due Period and such other information as the Indenture Trustee shall may reasonably require. Not Upon a written request from the Arranger following a Conversion Event, the Servicer shall also deliver such magnetic tape or computer disk to the Arranger. No later than 12:00 noon California time on the each Determination Date, the Trustee Servicer shall deliver to the Note Insurer a computer disk containing such information regarding the servicing of the Home Loans during the related Due Period as the Note Insurer may reasonably require.
(1) Subject to the modification of the Servicer's Monthly Remittance Report by the Servicer with the prior written consent of the Majority Noteholders and the Indenture Trustee, no later than three (3) Business Days before each Payment Date, the Depositor Servicer shall prepare and to the Certificate Insurer, by telecopy, with Indenture Trustee shall distribute a hard copy thereof to be delivered on the succeeding Distribution Date, a monthly statement (the “Trustee’s "Servicer's Monthly Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) " with respect to such Distribution Payment Date) to the Seller, the Noteholders, the Note Insurer, the Arranger and each Rating Agency, stating the date of original issuance of the Notes (day, month and year), the name of the Issuer (I.E., "FIRSTPLUS FUNDING TRUST"), the series designation of the Notes (I.E., "Series 1997A"), the date of this Agreement and the following information:
(i) The Group 1 the Available Payment Amount, the Interest Payment Amount and Group 2 Available Funds the calculation with respect to such amount, the Principal Payment Amount and each Certificate Rate for the Required Payment Amount with respect to the related Distribution Payment Date;
(ii) The Class the Aggregate Note Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance day of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of Due Period and after giving effect to payments made to the Mortgage Loans in each GroupNoteholders on such Payment Date;
(iii) The number the amount of principal and Principal Balances of all Mortgage interest received on the Home Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the related Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due PeriodServicing Compensation and the Guaranty Insurance Premium for such Payment Date;
(v) The principal portion of all Monthly Payments for each Group received the Overcollateralization Amount with respect to such Payment Date, the Required Overcollateralization Amount with respect to such Payment Date, the Net Loan Losses incurred during the related Due PeriodPeriod and the cumulative Net Loan Losses with respect to such Payment Date;
(vi) The the amount of interest received remaining on deposit in the Reserve Fund on such Payment Date after giving effect to the payments made to Noteholders on such Payment Date and the amount on deposit in the Capitalized Interest Account on the Mortgage Loans in each Grouprelated Determination Date;
(vii) The amount the weighted average maturity of the Monthly Advances Home Loans and the Compensating weighted average Home Loan Interest payment to be made on Rate of the Determination Date for Home Loans, each Group;as of the last day of the related Due Period.
(viii) The certain performance information, including delinquency and foreclosure information set forth in with respect to the form attached hereto as Exhibit LHome Loans;
(ix) The Remittance Amount for each Class the amount of Class A and Class A-IO Certificates for any Guaranteed Payment included in the Distribution Date with amounts paid to the components thereof stated separatelyNoteholders on such Payment Date;
(x) The the amount of the Insured Amounts for each Group, if any, any Note Insurer Reimbursement Amount to be paid to the Note Insurer on such Payment Date and the Distribution Dateamount of any Note Insurer Reimbursement Amount remaining unsatisfied following such payment;
(xi) The the amount of any Servicing Advance Reimbursement Amount to be distributed paid to the Class R Certificateholders for Servicer on such Payment Date and the Distribution Dateamount of any Servicing Advance Reimbursement Amount remaining unpaid following such payment;
(xii) The Class the number of and aggregate Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage all Home Loans in each Group and the weighted average Loan Rate foreclosure proceedings (other than any Home Loans described in each Group;
clause (xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv)) and the amount paid percent of the aggregate Principal Balances of such Home Loans to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number the aggregate Principal Balances of Mortgage Loans in each Group outstanding at all Home Loans, all as of the beginning and at close of business on the end first day of the related Due Period;
(xiii) the number of and the aggregate Principal Balance of the Home Loans in bankruptcy proceedings (other than any Home Loans described in clause (xiii)) and the percent of the aggregate Principal Balances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the first day of the related Due Period;
(xiv) the number of Foreclosure Properties, the aggregate Principal Balance of the related Home Loans, the book value of such Foreclosure Properties and the percent of the aggregate Principal Balances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the first day of the related Due Period;
(xv) during the related Due Period, the aggregate Principal Balance of Home Loans for each of the following: (A) that became Defaulted Home Loans, (B) that became Liquidated Home Loans, (C) that became Deleted Home Loans pursuant to Section 3.05(a) as a result of such Deleted Home Loans being Defective Home Loans, and (D) that became Deleted Home Loans pursuant to Section 2.9(c) of the Indenture as a result of such Deleted Home Loans being Defaulted Home Loans or a Home Loan in foreclosure, default or imminent default, including the foregoing amounts by loan type (I.E., Combination Loans or Debt Consolidation Loans);
(xvi) from the Closing Date through the most current Due Period, the cumulative aggregate Principal Balance of Home Loans for each of the following: (A) that became Defaulted Home Loans, (B) that became Liquidated Home Loans and (C) that became Deleted Home Loans pursuant to Section 3.05(a) as a result of such Deleted Home Loans being Defaulted Home Loans or a Home Loan in foreclosure, default or imminent default, including the foregoing amounts by loan type (I.E., Combination Loans or Debt Consolidation Loans);
(xvii) the scheduled principal payments and the principal prepayments received with respect to the Home Loans during the related Due Period;
(xviii) the number of and aggregate principal balance of all Home Loans (both during the related Due Period and in aggregate since the Closing Date) repurchased or substituted pursuant to Sections 3.05 or 4.02 or Section 2.9(c) of the Indenture;
(xix) the ABS Yield Spread, the Base Treasury Yield and the Minimum Spread Percent, each as of the related Determination Date;
(xx) the then-applicable Overcollateralization Base Percent Requirement, the then-applicable Overcollateralization Targeted Percent Requirement, and the then-applicable Required Credit Support Multiple;
(xxi) The amount on deposit in each sub-account of the Spread Account after Net Defaulted Loan losses incurred during the Distribution related Due Period and the Default Rate with respect to the related Payment Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period Delinquency Rate (30 day) and the cumulative losses for the Mortgage Loans in Delinquency Rate (60 day), each Group as a percentage of with respect to the related Cut-Off Date Principal Balance;Payment Date; and
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;other information as may be reasonably requested by the Indenture Trustee or Note Insurer.
(xxiv2) The amount No later than seven days following a repurchase or substitution pursuant to Sections 3.05 or 4.02 or Section 2.9 of Class Interest Carryover Shortfall relating to the Indenture, the Servicer shall notify each Class of Class A Certificates Rating Agency and the Class A-IO Certificates, separately stating Note Insurer of the amount that is allocable aggregate principal balances of the Home Loans repurchased or substituted and (if applicable) the relevant Substitution Adjustment. All reports prepared by the Servicer of the withdrawals from and deposits in the Collection Account will be based in whole or in part upon the information provided to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Indenture Trustee shall make such report available to by the Servicer, and the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Indenture Trustee may fully rely upon and shall have no liability with respect to such information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request .
(pursuant to the preceding paragraphc) thereofNo later than three (3) Business Days before each Payment Date, the Servicer may rely upon shall prepare and distribute to the latter. In Note Insurer a monthly statement that includes the case cumulative aggregate Principal Balance of information furnished Home Loans that became Deleted Home Loans pursuant to subclauses Section 3.05(a) as a result of such Deleted Home Loans being Defective Home Loans from the Closing Date through the most current Due Period.
(iid) and No later than three (ix3) aboveBusiness Days following a written request by the Arranger, the amounts Servicer shall be expressed in deliver a separate section of report to the report as a dollar amount for each Class for each $1,000 original dollar amount Arranger setting forth the ABS Yield Spread as of the Cut-Off date of such request.
(e) On each Advance Date and Note Principal Prepayment Date, the Servicer shall deliver a report to the Arranger setting forth the weighted average Home Loan Interest Rate of the Home Loans as of such Advance Date or Note Principal Prepayment Date, after giving effect to the Advance or the Note Principal Prepayment, as applicable.
(f) Upon reasonable advance notice in writing, the Indenture Trustee will provide to each Noteholder which is a savings and loan association, bank or insurance company access to information and documentation regarding the Home Loans sufficient to permit such Noteholder to comply with applicable regulations of the FDIC or other regulatory authorities with respect to such Noteholder's investment in the Notes.
(g) The Indenture Trustee shall forward to each Noteholder during the term of this Agreement, such periodic, special, or other reports, including information tax returns or reports required with respect to the Notes, including Internal Revenue Service Forms 1099 and other similar reports that are required to be filed by the Indenture Trustee or its agent, whether or not provided for herein, as shall be necessary, reasonable, or appropriate with respect to the Noteholders, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Noteholders may reasonably require.
(h) Reports and computer tapes furnished by the Servicer and the Indenture Trustee pursuant to this Agreement shall be deemed confidential and of proprietary nature, and shall not be copied or distributed except in connection with the purposes and requirements of this Agreement. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the Seller or the Servicer or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Sale and Servicing Agreement (Firstplus Financial Group Inc)
Statements. Not later than 12:00 noon California time on Tenant shall furnish the fourth Business Day following the last day of a Due Period, the Servicer shall deliver statements to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution DateLandlord:
(i) The Group 1 Within ninety (90) days after the end of Tenant’s Parent’s Fiscal Years (commencing with the Fiscal Year ending December 31, 2022): (x) Tenant’s Parent’s Financial Statements; (y) a certificate, executed by a Responsible Officer of the Tenant’s Parent (a) certifying that no default has occurred under this Lease or, if such a default has occurred, specifying the nature and Group 2 Available Funds extent thereof and each Certificate Rate for any corrective action taken or proposed to be taken with respect thereto and (b) setting forth the calculation of the financial covenant set forth in Section 23.3(a) hereof in reasonable detail as of such Fiscal Year (commencing with the Fiscal Year ending [ ● ]4); and (z) a report with respect to Tenant’s Parent’s Financial Statements from Tenant’s Parent’s accountants, which report shall be without a going concern or similar qualification or exception as to scope (other 4 NTD: To be the first Fiscal Year ending on or after the last day of the fourth full fiscal quarter ending after the Commencement Date. than any going concern or similar qualification or exception related Distribution Dateto (i) an upcoming maturity date within twelve (12) months under any Indebtedness or any projected financial performance in such twelve month period, (ii) any prospective or actual default of any financial covenant or event of default under Section 23.3(a) hereof or any Indebtedness or (iii) an Unavoidable Delay and/or a Discretionary Closure);
(ii) The Class Principal Balance Within forty-five (45) days after the end of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Datethree (3) fiscal quarters of the Tenant’s Parent’s Fiscal Year (commencing with the fiscal quarter ending [ ● ]5, 2022), a copy of Tenant’s Parent’s Financial Statements for such period, together with a certificate, executed by a Responsible Officer of Tenant’s Parent (i) certifying that no default has occurred or, if such a default has occurred, specifying the nature and extent thereof and any corrective action taken or proposed to be taken with respect thereto, (ii) setting forth the calculation of the financial covenant set forth in Section 23.3(a) hereof in reasonable detail as of such fiscal quarter (commencing with the fiscal quarter ending [ ● ]6) and (iii) certifying that such Financial Statements fairly present, in all material respects, the Original Class Certificate Balance financial condition and results of each Class operations of Class A Certificates Tenant’s Parent and its Subsidiaries on a consolidated basis in accordance with GAAP (subject to normal year-end audit adjustments and the Original Notional Balance absence of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Groupfootnotes);
(iii) The number and Principal Balances Tenant will furnish to Landlord annually within ninety (90) days following the end of all Mortgage Loans and of each Fiscal Year, the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due PeriodAnnual Certificate;
(iv) The amount Within forty-five (45) days after the expiration of all Curtailments any calendar quarter, Tenant shall deliver to Landlord a quarterly operating report in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in substantially the form attached hereto as Exhibit LG.
(v) Prompt Notice to Landlord of any action or investigation by any agency or entity, or complaint to such agency or entity, (any of which is called a “Proceeding”), known to Tenant, the result of which Proceeding would reasonably be expected to be to revoke or suspend or terminate or modify, or fail to renew or fully continue in effect, any license or certificate or operating authority pursuant to which Tenant carries on any part of the Primary Intended Use of all or any portion of the Leased Property and such revocation, suspension, termination, modification, failure to renew or continuation would reasonably be expected to have a material adverse effect on Tenant, the Facility, or on the Leased Property, in each case, taken as a whole;
(ixvi) The Remittance Amount for each Class of Class A As soon as it is prepared and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
in no event later than ninety (x90) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each days after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period Fiscal Year, a capital and the cumulative losses operating budget, including projections by fiscal quarter, for the Mortgage Loans Facility for the Fiscal Year in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that which it is allocable to each such Class and the amount allocable to interest and principaldelivered; and
(xxvvii) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying Concurrently with the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape Financial Statements delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (iiSection 23.1(b)(i) and (ix) aboveSection 23.1(b)(ii), a report containing a reasonably detailed description of any material Capital Improvements and other material capital expenditures 5 NTD: To be the amounts shall be expressed in a separate section of first fiscal quarter ending after the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Commencement Date.
Appears in 1 contract
Statements. (a) Not later than 12:00 noon 1:00 p.m., California time time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic modem a computer tape file containing the information set forth on Exhibit D as to each Mortgage Loan called for by clauses (i) through (xxiii) below as of such the end of the preceding Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon 1:00 p.m., California time time, on the each Determination Date, the Trustee shall deliver to the Servicer, the Depositor Certificate Insurer and to the Certificate Insurer, Seller by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a confirmation of the items in clause (i) below. Not later than one Business Day prior to each Distribution Date the Trustee shall deliver a statement (the “"Trustee’s 's Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification or calculation thereof:
(i) The Group 1 and Group 2 Available Funds for each Certificate Group and each Class's Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal;
(v) the amount of Excess Interest for each Loan Group paid as principal;
(vi) the Servicing Fee, the Premium Amount and Reimbursement Amount;
(vii) the Loan Group Balance of each Loan Group and the Pool Balance, in each case as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) each Overcollateralization Amount and each Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) the amount of the Insured Payments, if any, to be made on such Distribution Date;
(xi) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, Loan Group that were the subject of Principal Prepayments during the Due Period;
(ivxii) The amount of all Curtailments in each Loan Group that were received during the Due Period;
(vxiii) The principal portion of all Monthly Payments for in each Loan Group received during the Due Period;
(vixiv) The amount interest portion of interest all Monthly Payments in each Loan Group received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The For each Certificate Group, the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiiixvii) The weighted average remaining term to maturity of the Mortgage Loans in each Loan Group and the weighted average Loan Rate in each GroupRate;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xvxviii) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Loan Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in For each sub-account of Certificate Group, the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for Loan Losses and the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) For each Loan Group, as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60- 89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure and the number and Principal Balance of Mortgage Loans which are REO Property);
(xxii) any LIBOR Carryover distributed and any remaining LIBOR Carryover;
(xxiii) The Class A-2 Available Funds CarryforwardFor each Loan Group, if anythe number and aggregate Principal Balance of Mortgage Loans, after giving effect to all distributions on such Distribution Date;other than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period; and
(xxiv) The amount of Class Interest Carryover Shortfall relating to For each Class of Class A Certificates and Pre-Funding Distribution Date, the Class Aremaining Allocated Pre-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofFunded Amount. The Trustee shall make forward such report available to the Servicer, the Depositor, the CertificateholdersSeller, the Certificate Insurer, the Certificateholders, the - 95 - Rating Agencies and Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date; provided, however, that the Trustee shall remove from the report the Premium Amount to be paid to the Certificate Insurer prior to the submission to Bloomberg and Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. The Servicer shall calculate all items in clauses (i) - (xxiv) above. To the extent that there are inconsistencies between the telecopy of the Trustee’s 's Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to each Certificateholder and to the Certificate Insurer (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or to the Certificate Insurer or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder or the Certificate Insurer may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder or the Certificate Insurer for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or for the internal use of the Certificate Insurer and its counsel or to the Rating Agencies, the Certificate Insurer's reinsurers, parent, regulators, liquidity providers and auditors, provided that the Certificate Insurer shall attempt in good faith to cause such additional Persons to acknowledge in writing the foregoing restrictions, and in connection with the purposes and requirements of this Agreement. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Funding Corp /De/)
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means and to the Certificate Insurer via e-mail at rmgtapes@fsa.com, a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) ▇▇▇▇▇▇▇ (▇▇▇▇▇) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require, and the Seller hereby agrees to provide the Trustee and the Servicer with an amended Prepayment Charge Schedule, if required, at such time. Not later than 12:00 noon California time on the Determination Date, each Distribution Date the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, prepare a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds and each Class’ Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee, the Premium Amount and the Reimbursement Amount;
(vii) the Pool Balance as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof;
(xi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(ivxii) The the amount of all Curtailments in each Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class P Certificates, Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Groupas of the first day of the month prior to the Distribution Date;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) for each Pre-Funding Distribution Date, the amount, if any, on deposit in the First Payment Loan Account;
(xxiii) The Class A-2 Available Funds Carryforwardthe number and aggregate Principal Balance of Mortgage Loans, if anyother than Mortgage Loans in default or imminent default, after giving effect to all distributions on such Distribution Datethat were modified by the Servicer during the related Due Period;
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Certificates and the Class A-IO Offered Certificates, stating separately stating any amounts received from the amount that is allocable cap provider with respect to each such Class the Interest Rate Cap Agreements, and the amount allocable to interest and principalof Net Rate Cap Carryover remaining for each such Class;
(xxv) for each Pre-Funding Distribution Date, the remaining amount in the Pre-Funding Account; and
(xxvxxvi) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofamount of the Insured Payments, if any, to be made on such Distribution Date. The Trustee shall make available such report available to the Servicer, the Depositor, the CertificateholdersSeller, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at ▇▇▇ ▇▇499 Park Avenue, New York, New York 10022, Attention: Mike Geller) and Intex Solutions (at 35 Highland Circle, Needham, Massachusetts 02144, Attention: Haro▇▇ ▇▇▇▇▇▇, ▇▇) ▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇ ▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition; ▇▇ovided, together with such reporthowev▇▇, the ▇▇▇▇ ▇▇e Trustee shall forward remove fro▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇ ▇▇▇▇ ▇▇ ▇▇e Certificate ▇▇▇▇▇▇▇ ▇▇▇▇▇ to the submission to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Dateand Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and the parties to this Agreement via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “www.ctslink.com”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (301) 815-6600. Parties that are unabl▇ ▇▇ ▇▇▇ ▇▇▇ ▇▇ove distribution options are entitled to have a paper copy mailed to them via first class mail by call▇▇▇ ▇▇▇ ▇▇▇▇▇▇er service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Trustee or and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to the Certificate Insurer, the Depositor, the Seller and each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Renaissance Home Equity Loan Tr Asset BKD Cer Ser 2002-4)
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means and to the Certificate Insurer via e-mail at ▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇, a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) through (xxvii) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination 4:00 p.m., New York time, three Business Days prior to each Distribution Date, the Trustee shall deliver to the Servicer, the Depositor Certificate Insurer and to the Certificate Insurer, Seller by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a confirmation of the items in clause (i) below. Not later than each Distribution Date the Trustee shall prepare a statement (the “Trustee’s "Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds and each Class' Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee, the Premium Amount and the Reimbursement Amount;
(vii) the Pool Balance as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof;
(xi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(ivxii) The the amount of all Curtailments in each Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class BIO, Class P and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Groupas of the first day of the month prior to the Distribution Date;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) [Reserved];
(xxiii) The Class A-2 Available Funds Carryforwardthe number and aggregate Principal Balance of Mortgage Loans, if anyother than Mortgage Loans in default or imminent default, after giving effect to all distributions on such Distribution Datethat were modified by the Servicer during the related Due Period;
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Certificates and Offered Certificates, other than the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalof Net Rate Cap Carryover remaining for each such Class;
(xxv) for each Pre-Funding Distribution Date, the amount in the Initial Interest Coverage Account;
(xxvi) for each Pre-Funding Distribution Date, the remaining amount in the Pre-Funding Account; and
(xxvxxvii) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofamount of the Insured Payments, if any, to be made on such Distribution Date. The Trustee shall make available such report available to the Servicer, the Depositor, the CertificateholdersSeller, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date; provided, however, that the Trustee shall remove from the report the Premium Amount to be paid to the Certificate Insurer prior to the submission to Bloomberg and Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and the parties to this Agreement via the Trustee's internet website. The Trustee's internet website shall initially be located at "▇▇▇.▇▇▇▇▇▇▇.▇▇▇". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Funding Home Equity Loan Trust 2000-4)
Statements. (a) Not later than 12:00 noon California time noon, New York City time, on the fourth Business Day following the last day of a Due Periodeach Determination Date, the Servicer shall deliver to the Trustee a computer tape (or such other report in a form and format mutually agreeable to the Servicer and the Trustee) containing the information set forth on in Exhibit D E hereto as to each Mortgage Loan as of such the end of the preceding Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on On the Determination Business Day preceding the Distribution Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding such Distribution Date, a statement (the “"Trustee’s 's Remittance Report”") (based solely on the information contained on the computer tape) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Class' Certificate Rate for the related Distribution Date;
(ii) The Class A-1 Principal Balance of each Class of Class A Certificates and Balance, the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group Class A-2 Certificates, the Pool Principal Balance as reported in the prior Trustee’s 's Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class A-1 Certificate Principal Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Pool Principal Balance of the Mortgage Loans in each GroupBalance;
(iii) The aggregate amount of collections received on the Mortgage Loans on or prior to such Determination Date in respect of the preceding Due Period, separately stating the amounts received in respect of principal and interest;
(iv) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the related Due Period;
(v) The principal portion amount of all Monthly Payments for each Group Curtailments that were received during the Due Period;
(vi) The amount principal portion of all Monthly Payments received during the Due Period;
(vii) The interest portion of all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viiviii) The amount required to be paid by the Seller (reported separately) pursuant to Sections 2.02, 2.04 or 2.06;
(ix) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Groupwith respect to such Distribution Date;
(viiix) The delinquency the Certificate Rate on the Variable Rate Certificates and foreclosure information set forth in the form attached hereto as Exhibit LCertificate Index;
(ixxi) The Remittance Amount Class A-1 Principal Distribution and the Class Interest Distribution for the related Distribution Date to be distributed on each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separatelyCertificates;
(xxii) The amount, if any, of the Outstanding Class Interest Carryover Shortfall and Class A-1 Principal Shortfall Amount after giving effect to the distributions on the related Distribution Date;
(xiii) The amount of the Insured Amounts for each GroupPayments, if any, to be paid made on the related Distribution Date;
(xixiv) The amount to be distributed to the Class R Certificateholders for the related Distribution Date;
(xiixv) The Class A-1 Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the related Distribution Date;
; (xiiixvi) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each GroupRate;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Statements. (a) Not later than 12:00 noon California time 11:00 a.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means and to the Certificate Insurer via e-mail at ▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇, a computer tape file containing the loan level information set forth on Exhibit D as to each Mortgage Loan called for by the applicable clauses (i) through (xxvii) below as of such the end of the preceding Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination 4:00 p.m., New York time, three Business Days prior to each Distribution Date, the Trustee shall deliver to the Servicer, the Depositor and to , the Certificate Insurer, Insurer and the Seller by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a confirmation of the items in clause (i) below. Not later than each Distribution Date the Trustee shall prepare a statement (the “Trustee’s "Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification or calculation thereof:
(i) The Group 1 and Group 2 the Available Funds for each Certificate Group and each Class' Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest for each Loan Group paid as principal;
(vi) the Servicing Fee, the Premium Amount and the Reimbursement Amount;
(vii) the Loan Group Balance of each Loan Group and the Pool Balance, in each case as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof;
(xi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, Loan Group that were the subject of Principal Prepayments during the Due Period;
(ivxii) The the amount of all Curtailments in each Loan Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for in each Loan Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments in each Loan Group received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The for each Certificate Group, the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class P, Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Loan Group and the weighted average Loan Rate in each Groupas of the first day of the month prior to the Distribution Date;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Loan Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) for each Loan Group, as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) any LIBOR Carryover distributed and any remaining LIBOR Carryover;
(xxiii) The Class A-2 Available Funds Carryforwardfor each Loan Group, if anythe number and aggregate Principal Balance of Mortgage Loans, after giving effect to all distributions on such Distribution Dateother than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period;
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class in Certificate Group F, other than the Class IOF Certificates, and each Class of Class A Subordinate Certificates and the Class Aamount of Net Rate Cap Carryover remaining for each such Class;
(xxv) for each Pre-IO CertificatesFunding Distribution Date, separately stating the amount that is allocable to remaining in the Initial Coverage Account;
(xxvi) for each such Class and Pre-Funding Distribution Date, the amount allocable to interest and principalremaining Allocated Pre-Funded Amount; and
(xxvxxvii) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofamount of the Insured Payments, if any, to be made on such Distribution Date. The Trustee shall make forward such report available to the Servicer, the Depositor, the CertificateholdersSeller, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date; provided, however, that the Trustee shall remove from the report the Premium Amount to be paid to the Certificate Insurer prior to the submission to Bloomberg and Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and the parties to this Agreement via the Trustee's internet website and its fax-on-demand service. The Trustee's fax-on-demand service may be accessed by calling (▇▇▇) ▇▇▇-▇▇▇▇. The Trustee's internet website shall initially be located at "▇▇▇.▇▇▇▇▇▇▇.▇▇▇". Assistance in using the website or the fax-on-demand service can be obtained by calling the Trustee's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Trustee or and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to the Certificate Insurer and each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Funding Corp /De/)
Statements. (a) Not later than 12:00 noon California time noon, New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic modem a computer tape file containing the information set forth on Exhibit D as to each Mortgage Loan called for by clauses (i) through (xxiii) below as of such the end of the preceding Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time noon, New York time, on the each Determination Date, the Trustee shall deliver to the Servicer, Servicer and the Depositor and to the Certificate Insurer, Seller by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a confirmation of the items in clause (i) below. Not later than one Business Day prior to each Distribution Date the Trustee shall deliver a statement (the “"Trustee’s 's Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification or calculation thereof:
(i) The Group 1 and Group 2 Available Funds for each Certificate Group and each Class's Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest for each Loan Group paid as principal;
(vi) the Servicing Fee;
(vii) the Loan Group Balance of each Loan Group and the Pool Balance, in each case as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) each Overcollateralization Amount and each Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) for each Certificate Group, whether a Trigger Event has occurred and is continuing;
(xi) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, Loan Group that were the subject of Principal Prepayments during the Due Period;
(ivxii) The amount of all Curtailments in each Loan Group that were received during the Due Period;
(vxiii) The principal portion of all Monthly Payments for in each Loan Group received during the Due Period;
(vixiv) The amount interest portion of interest all Monthly Payments in each Loan Group received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The For each Certificate Group, the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiiixvii) The weighted average remaining term to maturity of the Mortgage Loans in each Loan Group and the weighted average Loan Rate in each GroupRate;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xvxviii) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Loan Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in For each sub-account of Certificate Group, the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for Loan Losses and the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Principal Pool Balance;
(xxiiixxi) The Class A-2 Available Funds CarryforwardFor each Loan Group, if anyas of the end of the preceding calendar month, after giving effect to all distributions on such Distribution Datethe number and Principal Balance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent; the number and Principal Balance of Mortgage Loans which are in foreclosure; and the number and Principal Balance of Mortgage Loans which are REO Property;
(xxivxxii) The amount For each Certificate Group the calculation of Class Interest Carryover Shortfall relating to each Class of Class A Certificates the Trigger Event and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalSubordination Trigger Event; and
(xxvxxiii) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying For each Pre-Funding Distribution Date, the details thereofremaining Allocated Pre-Funded Amount. The Trustee shall make forward such report available to the Servicer, the DepositorSeller, the Certificateholders, the Certificate InsurerRating Agencies, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. The Servicer shall calculate all items in clauses (i) - (xxiii) above. To the extent that there are inconsistencies between the telecopy of the Trustee’s 's Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Funding Corp /De/)
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means reasonably acceptable to the Trustee and to the Certificate Insurer via e-mail at ▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇, a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) through (xxvi) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require, and the Seller hereby agrees to provide the Trustee and the Servicer with an amended Prepayment Charge Schedule, if required, at such time. Not later than 12:00 noon California time on the Determination Date, each Distribution Date the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, prepare a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based solely upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds for each Loan Group and each in the aggregate and the Certificate Rate for each Class for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the aggregate amount of the Servicing Fee, the Trustee Fee, the Premium Amount and the Reimbursement Amount, in each case by Loan Group;
(vii) the Pool Balance and the aggregate Principal Balances of the Mortgage Loans in each Loan Group as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates after giving effect to payments allocated to principal above;
(ix) the Overcollateralization Amount and the Notional Balance Required Overcollateralization Amount as of each Class the close of Class A-IO Certificates business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the Aggregate calculation thereof;
(xi) the aggregate amount of Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and Prepayments received during the related Cut-Off Date Principal Balance of the Mortgage Loans in Prepayment Period for each Loan Group;
(iiixii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due PeriodPeriod for each Loan Group;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due PeriodPeriod for each Loan Group;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in during the Due Period for each Loan Group;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Loan Group;
(viiixvi) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class P Certificates, Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in as of the first day of the related Due Period for each Loan Group;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvivi) The Pool Factor for each Group determined using (as reported by the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01Servicer);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due PeriodPeriod for each Loan Group;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Principal BalancePool Balance for each Loan Group;
(xxiiixxi) The Class A-2 Available Funds Carryforwardas of the end of the preceding calendar month, the number and Principal Balance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth) for each Loan Group;
(xxii) the amount of the Insured Payments and the Subordination Deficit, if any, after giving effect to all distributions be made on such Distribution Date; the cumulative amount of Subordination Deficits paid by the Certificate Insurer; and the Group I Parity Amount for such Distribution Date;
(xxiii) the number and aggregate Principal Balance of Mortgage Loans, other than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period (as reported by the Servicer) for each Loan Group;
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Offered Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to of Net Rate Cap Carryover remaining for each such Class and the amount allocable to interest and principalClass; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred the amount on deposit in the Net Rate Cap Fund, and specifying the details thereofamounts of each deposit and withdrawal from such Account. The Trustee shall make available such report available to the Servicer, the Depositor, the CertificateholdersSeller, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the parties to this Agreement via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Class R Certificateholders in the same manner as the Remittance Report is made available to all Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Tax Matters Persons and furnished to Certificateholders by the Trustee or Tax Matters Person pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to the Depositor, the Seller, the Certificate Insurer and each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information for which the Trustee has the necessary information to prepare such report and in a format acceptable to the Trustee, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by the Depositor, the Seller, the Certificate Insurer or such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2004-2)
Statements. Not (a) No later than 12:00 noon California time on the fourth Business Day following the last day of a Due Periodeach Determination Date, ---------- the Servicer shall deliver to the Indenture Trustee a magnetic tape or computer tape containing disk providing such information regarding the information set forth on Exhibit D as to each Mortgage Loan as of such Servicer's activities in servicing the Home Loans during the related Due Period and such other information as the Indenture Trustee shall may reasonably require. Not .
(1) Subject to the modification of the Servicer's Monthly Statement by the Servicer with the prior written consent of the Majority Securityholders and the Indenture Trustee, no later than 12:00 noon California time on the Determination three (3) Business Days before each Payment Date, the Servicer shall prepare and the Indenture Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with distribute a hard copy thereof to be delivered on the succeeding Distribution Date, a monthly statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) "Servicer's Monthly Statement", with respect to such Distribution Payment Date) to the Seller, the Securityholders and each Rating Agency, stating the date of original issuance of the Securities (day, month and year), the name of the Issuer (i.e., "FIRSTPLUS Home Loan Owner Trust 1998-1"), the series designation of the Securities (i.e., "Series 1998-1"), the date of this Agreement and the following information:
(i) The Group 1 the Available Collection Amount, the Regular Payment Amount and Group 2 Available Funds and each Certificate Rate the Excess Spread for the related Distribution Payment Date;
(ii) The the amount, if any, on deposit in the Pre-Funding Account on such Payment Date;
(iii) the Class Principal Balance of each Class of Class A Certificates Securities (and the Component Principal Balance or Component Notional Balance Balance, as applicable, of each Class the Components of Class A-IO Certificates the Residual Interest Certificate), and the Aggregate Pool Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance day of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance Due Period and after giving effect to payments and distributions made to the holders of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Periodsuch Securities on such Payment Date;
(iv) The amount the Class Pool Factor with respect to each Class of all Curtailments in each Group that were received during the Due PeriodSecurities then outstanding;
(v) The the amount of principal portion of all Monthly Payments for each Group and interest received on the Home Loans during the related Due Period;
(vi) The amount the amount, if any, of interest received on the Mortgage Loans in each GroupOvercollateralization Surplus;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date Servicing Compensation for each Groupsuch Payment Date;
(viii) The delinquency the Overcollateralization Amount with respect to such Payment Date, the Required Overcollateralization Amount as of such Payment Date, the Net Loan Losses incurred during the related Due Period and foreclosure information set forth in the form attached hereto as Exhibit Lcumulative Net Loan Losses with respect to such Payment Date;
(ix) The Remittance Amount for the amount, if any, paid on such Payment Date to each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separatelySubordinate Securities in respect of Deferred Amounts;
(x) The with respect to each Class of Subordinate Securities and the B-1 and B-2 Components of the Residual Interest Certificate, the amount of the Insured any applicable Deferred Amounts for each Group, if any, remaining unreimbursed after giving effect to be paid payments made on the Distribution such Payment Date;
(xi) The amount to be distributed to the Class R Certificateholders for weighted average maturity of the Distribution Home Loans and the weighted average Home Loan Interest Rate of the Home Loans each as of such Payment Date;
(xii) The Class Principal Balance of each Class of Class A Certificates certain performance information, including delinquency and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect foreclosure information with respect to the distribution to be made on Home Loans, as set forth in the Distribution DateServicer's Monthly Remittance Report;
(xiii) The weighted average remaining term the amount of any Servicing Advance Reimbursement Amount to maturity of be paid to the Mortgage Loans in each Group Servicer on such Payment Date, and the weighted average Loan Rate in each Groupamount of any Servicing Advance Reimbursement Amount remaining unpaid following such payment;
(xiv) The Servicing Fee for each Group the number of and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount aggregate Principal Balance of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Home Loans in foreclosure proceedings (other than any Home Loans described in clause (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv)) and the amount paid percent of the aggregate Principal Balances of such Home Loans to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number the aggregate Principal Balances of Mortgage Loans in each Group outstanding at all Home Loans, all as of the beginning and at close of business on the end first day of the related Due Period;
(xv) the number of and the aggregate Principal Balance of the Home Loans in bankruptcy proceedings (other than any Home Loans described in clause (xvii)) and the percent of the aggregate Principal Balances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the first day of the related Due Period;
(xvi) the number of Foreclosure Properties, the aggregate Principal Balance of the related Home Loans, the book value of such Foreclosure Properties and the percent of the aggregate Principal Balances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the first day of the related Due Period;
(xvii) during the related Due Period, the aggregate Principal Balance of Home Loans for each of the following: (A) that became Liquidated Home Loans, (B) that became Deleted Home Loans pursuant to Section 3.05 as a result of such Deleted Home Loans being Defective Home Loans, and (C) that became Deleted Home Loans pursuant to Section 3.05 as a result of such Deleted Home Loans being Liquidated Home Loans or a Home Loan in foreclosure, default or imminent default, including the foregoing amounts by loan type;
(xviii) from the Closing Date through the most current Due Period, the cumulative aggregate Principal Balance of Home Loans for each of the following: (A) that became Liquidated Home Loans, and (B) that became Deleted Home Loans pursuant to Section 3.05 as a result of such Deleted Home Loans being in foreclosure, default or imminent default;
(xix) the scheduled principal payments and the principal prepayments received with respect to the Home Loans during the related Due Period;
(xx) the number of and aggregate principal balance of all Home Loans (both during the related Due Period and in aggregate since the Closing Date) repurchased or substituted pursuant to Sections 2.06, 3.05 or 4.02;
(xxi) The amount on deposit the number of Home Loans remaining in each sub-account of the Spread Account after the Distribution Date;Home Loan Pool; and
(xxii) The amount of losses experienced on such other information as may be reasonably requested by the Mortgage Loans in Indenture Trustee.
(2) No later than three (3) Business Days before each Group during Payment Date, the preceding Due Period Servicer shall prepare and distribute to the Seller and each Rating Agency a monthly statement that includes the cumulative losses for the Mortgage aggregate Principal Balance of Home Loans in each Group that became Deleted Home Loans pursuant to Section 3.05(c) as a percentage result of such Deleted Home Loans being Defective Home Loans, from the Closing Date through the most current Due Period.
(3) No later than seven days following a repurchase or substitution pursuant to Sections 2.06, 3.05 or 4.02, the Servicer shall notify each Rating Agency of the related Cut-Off Date Principal Balance;
aggregate principal balances of the Home Loans repurchased or substituted and (xxiiiif applicable) The Class A-2 Available Funds Carryforward, if any, after giving effect the relevant Substitution Adjustment. All reports prepared by the Servicer of the withdrawals from and deposits in the Collection Account will be based in whole or in part upon the information provided to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Indenture Trustee shall make such report available to by the Servicer, and the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Indenture Trustee may fully rely upon and shall have no liability with respect to such information provided by the Servicer.
(c) Within a reasonable period of time after the end of each calendar year, the Servicer shall prepare and direct the Indenture Trustee to distribute to each Person who at any time during the calendar year was a Securityholder, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (b)(iv) and (v) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Securityholder. To Such obligation of the Indenture Trustee shall be deemed to have been satisfied to the extent that there are inconsistencies between substantially comparable information shall be provided by the telecopy Servicer to the Securityholders pursuant to any requirements of the Trustee’s Remittance Report Code as are in force from time to time.
(d) On each Payment Date, the Indenture Trustee shall forward to DTC and to the hard holder of the Residual Interest Certificate a copy issued upon request of the Servicer's Monthly Statement in respect of such Payment Date and a statement setting forth the amounts actually distributed to the holder of the Residual Interest Certificate on such Payment Date, together with such other information as the Indenture Trustee deems necessary or appropriate.
(e) Within a reasonable period of time after the end of each calendar year, the Servicer shall prepare and direct the Indenture Trustee to distribute to each Person who at any time during the calendar year was the holder of the Residual Interest Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the preceding paragraphprevious paragraph aggregated for such calendar year or applicable portion thereof during which such Person was the holder of the Residual Interest Certificate. Such obligation of the Indenture Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the holder of the Residual Interest Certificate pursuant to any requirements of the Code as are in force from time to time.
(f) thereofUpon reasonable advance notice in writing, the Servicer will provide to each Securityholder which is a savings and loan association, bank or insurance company access to information and documentation regarding the Home Loans sufficient to permit such Securityholder to comply with applicable regulations of the FDIC or other regulatory authorities with respect to investment in such Securities.
(g) The Servicer or its agent shall furnish to the Indenture Trustee, who in turn shall forward to each Securityholder, during the term of this Agreement, such periodic, special, or other reports, including information tax returns or reports required with respect to the Securities, including Internal Revenue Service Forms 1099 and (if instructed in writing by the Seller on the basis of the advice of legal counsel) and other similar reports that are required to be filed by the Servicer or its agent and the holder of Residual Interest Certificate, whether or not provided for herein, as shall be necessary, reasonable, or appropriate with respect to the Securityholders or the holders of the Residual Interest Certificate, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Securityholders may rely upon reasonably require.
(h) Reports and computer tapes furnished by the latter. In Servicer and the case of information furnished Indenture Trustee pursuant to subclauses (ii) and (ix) above, the amounts this Agreement shall be expressed deemed confidential and of proprietary nature, and shall not be copied or distributed except in a separate section connection with the purposes and requirements of this Agreement. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the report Seller or the Servicer or for any other purpose except as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Dateset forth in this Agreement.
Appears in 1 contract
Sources: Sale and Servicing Agreement (Firstplus Investment Corp)
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) through (xxvi) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require, and the Seller hereby agrees to provide the Trustee and the Servicer with an amended Prepayment Charge Schedule, if required, at such time. Not later than 12:00 noon California time on the Determination Date, each Distribution Date the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, prepare a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based solely upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds and each the Certificate Rate for each Class for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee and the Trustee Fee (including the separate amounts payable to each of the Trustee and its Custodian);
(vii) the Pool Balance as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The number the Overcollateralization Amount and Principal Balances of all Mortgage Loans and the Required Overcollateralization Amount as of the Mortgage Loans in each Groupclose of business on the Distribution Date, that were after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the subject calculation thereof;
(xi) the aggregate amount of Principal Prepayments received during the Due related Prepayment Period;
(ivxii) The the amount of all Curtailments in each Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class P Certificates, Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Groupas of the first day of the related Due Period;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvivi) The Pool Factor for each Group determined using (as reported by the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01Servicer);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) for the Distribution Date in January 2004, the amount, if any, on deposit in the First Payment Loan Account;
(xxiii) The Class A-2 Available Funds Carryforwardthe number and aggregate Principal Balance of Mortgage Loans, if anyother than Mortgage Loans in default or imminent default, after giving effect to all distributions on such Distribution Datethat were modified by the Servicer during the related Due Period (as reported by the Servicer);
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Offered Certificates and (other than the Class A-IO S Certificates), stating separately stating any amounts received from the amount that is allocable cap provider with respect to each such Class the Interest Rate Cap Agreements, and the amount allocable to interest of Net Rate Cap Carryover remaining for each such Class;
(xxv) the amount on deposit in the Net Rate Cap Fund, and principalthe amounts of each deposit and withdrawal from such Account; and
(xxvxxvi) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying for each Pre-Funding Distribution Date, the details thereofremaining amount in the Pre-Funding Account. The Trustee shall make available such report available to the Servicer, the DepositorSeller, the Certificateholders, the Certificate InsurerRating Agencies, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 1 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders and the parties to this Agreement via the Trustee’s internet website. The Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Trustee’s customer service desk at (▇▇▇) ▇▇▇ ▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee’s internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall make available to the Class R Certificateholders in the same manner as the Remittance Report is made available to all Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Tax Matters Persons and furnished to Certificateholders by the Trustee or Tax Matters Person pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to the Depositor, the Seller and each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2003-4)
Statements. Not later than 12:00 noon California time on Tenant shall furnish the fourth Business Day following the last day of a Due Period, the Servicer shall deliver statements to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution DateLandlord:
(i) The Group 1 (I) In the event that ▇▇▇▇▇▇’s Parent is a reporting company under the Exchange Act, on the earlier of five (5) Business Days following (x) each date specified in the Exchange Act and Group 2 Available Funds the SEC’s related rules and regulations (including any additional time permitted under Rule 12b-25 or any successor provision thereof) that the Tenant’s Parent is required to file SEC Reports (each Certificate Rate a “SEC Filing Deadline”) and (y) the date the Tenant’s Parent files its SEC Reports with the SEC or (II) in the event that Tenant’s Parent is not a reporting company under the Exchange Act, no later than five (5) Business Days prior to Landlord REIT’s applicable SEC requirements, if any, to file, or include in any of Landlord REIT’s SEC Reports, Tenant Parent’s Financial Statements: (A) Tenant’s Parent’s Financial Statements required to be included in such SEC Report or the SEC Report containing such Financial Statements; (B) a certificate, executed by a Responsible Officer of the Tenant or Tenant’s Parent certifying that no default has occurred under this Master Lease or, if such a default has occurred, specifying the nature and status of such default; and (C) (1) with respect to annual Financial Statements, a report with respect to Tenant’s Parent’s Financial Statements from Tenant’s Parent’s independent registered public accounting firm, which report shall not be subject to any qualification or exception expressing substantial doubt about the ability of the Tenant’s Parent and its subsidiaries to continue as a “going concern” or any exception as to the scope of such audit (excluding any qualification as to going concern relating to any debt maturities in the twelve month period following the date such report is delivered or any projected financial performance or covenant default in any Indebtedness or this Master Lease in such twelve month period) and that such Financial Statements have been prepared in accordance with GAAP and Tenant’s Parent’s accountants have examined such Financial Statements in accordance with the standards of the PCAOB (or generally accepted auditing standards, if not required to file SEC Reports at such time) and (2) with respect to quarterly Financial Statements, a certificate, executed by a Responsible Officer of the Tenant’s Parent, certifying that such Financial Statements fairly present, in all material respects, the financial position and results of operations of Tenant’s Parent and its Subsidiaries on a consolidated basis in accordance with GAAP as at such date and for such period (subject to normal year-end audit adjustments, the related Distribution Dateabsence of footnotes and other informational disclosures customarily omitted from interim financial statements). Financial statements required to be delivered pursuant to this Section 23.1(b)(i) will be deemed delivered to the extent such documents are included in materials filed with the SEC and shall be deemed to have been delivered on the date such documents are publicly available on the SEC’s website;
(ii) The Class Principal Balance Within seventy-five (75) days after the end of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans Tenant’s Fiscal Years (commencing with the Fiscal Year ending December 31, 2022), (a) a budget and projection by fiscal month for the Fiscal Year in which the budget is delivered, including projected Net Revenue and EBITDAR with respect to each Group as reported Facility, (b) a budget and projection by fiscal year for the second and third subsequent Fiscal Years, including projected Net Revenue and EBITDAR with respect to each Facility, and (c) a capital budget for each Facility for the Fiscal Year in which the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in budget is delivered and for the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Groupfollowing Fiscal Year;
(iii) The number Within thirty (30) days after the end of each calendar month, the following items as they pertain to each Facility: occupancy percentages, including average daily rate and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were revenue per available room for the subject month, the monthly and year-to-date operating statements prepared for each calendar period, noting net revenue, operating expenses and operating income, and other information reasonably necessary and sufficient to fairly represent the financial position and results of Principal Prepayments operations of each Facility and its respective Operating Subtenant during the Due Periodsuch calendar period;
(iv) The amount Within sixty (60) days after the expiration of all Curtailments any calendar quarter, Tenant shall deliver to Landlord a Financial Covenant compliance report, which report shall include an Officer’s Certificate in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in substantially the form attached hereto as Exhibit LH, certifying that the Financial Covenant is in compliance under Section 23.3 together with reasonable detail evidencing such compliance;
(ixv) The Remittance Amount (a) commercially reasonable efforts to deliver such additional financial information and projections as may be reasonably requested by Landlord, so long as any reasonable out-of-pocket cost of Tenant or its Related Persons is borne by Landlord, in connection with syndications, private placements or public offerings by Landlord of debt securities or loans or equity or hybrid securities and (b) such additional information, Tenant’s Parent Financial Statements if not otherwise provided pursuant to Section 23.1(b)(i), and unaudited quarterly financial information concerning the Leased Property, Tenant, and Tenant’s Parent as Landlord or its Affiliates may require for each Class of Class A and Class A-IO Certificates for the Distribution Date their filings with the components thereof stated separatelySEC under both the Securities Act and the Exchange Act, including, but not limited to SEC Reports and registration statements to be filed by Landlord or its Affiliates during the Term of this Master Lease, the Internal Revenue Service and any other federal, state or local regulatory agency with jurisdiction over Landlord or its Subsidiaries;
(xvi) The amount Prompt Notice to Landlord of any action, proposal or investigation by any agency or entity, or complaint to such agency or entity, (any of which is called a “Proceeding”), known to Tenant, the result of which Proceeding would reasonably be expected to be to revoke or suspend or terminate or modify in a way materially adverse to Tenant, or fail to renew or fully continue in effect, any license or certificate or operating authority pursuant to which Tenant carries on any material part of the Insured Amounts for each Group, if any, to be paid on Primary Intended Use of all or any portion of the Distribution DateLeased Property;
(xivii) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each GroupUpon request, each after giving effect to the distribution not to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee more than once per fiscal quarter, an updated rent roll for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalFacility; and
(xxvviii) Whether a Servicer Termination Delinquency Event Tenant further agrees to provide the financial and operational reports to be delivered to Landlord under this Master Lease in such electronic format(s) as may reasonably be required by Landlord from time to time in order to (i) facilitate Landlord’s internal financial and reporting database, and (ii) permit Landlord to calculate any rent, fee or a Servicer Termination Loss Event has occurred and specifying the details thereofother payments due under Ground Leases. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties also agrees that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and Landlord shall have no liability audit rights with respect to such information provided by the Servicer. To to the extent that there are inconsistencies between required to confirm Tenant’s compliance with the telecopy terms of the Trustee’s Remittance Report and the hard copy issued upon request this Master Lease (pursuant to the preceding paragraph) thereofincluding, the Servicer may rely upon the latter. In the case without limitation, calculation of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off DateNet Revenues).
Appears in 1 contract
Sources: Master Lease (VICI Properties L.P.)
Statements. Not (a) No later than 12:00 noon California time on the fourth Business Day following the last day of a Due Periodeach Determination Date, ---------- the Servicer shall deliver to the Indenture Trustee a magnetic tape or computer tape containing disk providing such information regarding the information set forth on Exhibit D as to each Mortgage Loan as of such Servicer's activities in servicing the Home Loans during the related Due Period and such other information as the Indenture Trustee shall may reasonably require. Not .
(1) Subject to the modification of the Servicer's Monthly Statement by the Servicer with the prior written consent of the Majority Securityholders and the Indenture Trustee, no later than 12:00 noon California time on the Determination three (3) Business Days before each Payment Date, the Servicer shall prepare and the Indenture Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with distribute a hard copy thereof to be delivered on the succeeding Distribution Date, a monthly statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) "Servicer's Monthly Statement", with respect to such Distribution Payment Date) to the Seller, the Securityholders and each Rating Agency, stating the date of original issuance of the Securities (day, month and year), the name of the Issuer (i.e., "FIRSTPLUS Home Loan Owner Trust 1997-3"), the series designation of the Securities (i.e., "Series 1997-3"), the date of this Agreement and the following information:
(i) The Group 1 the Available Collection Amount, the Regular Payment Amount and Group 2 Available Funds and each Certificate Rate the Excess Spread for the related Distribution Payment Date;
(ii) The the amount, if any, on deposit in the Pre-Funding Account and the Capitalized Interest Account on such Payment Date;
(iii) the Class Principal Balance of each Class of Class A Certificates Securities, and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance day of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance Due Period and after giving effect to payments and distributions made to the holders of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Periodsuch Securities on such Payment Date;
(iv) The amount the Class Pool Factor with respect to each Class of all Curtailments in each Group that were received during the Due PeriodSecurities then outstanding;
(v) The the amount of principal portion of all Monthly Payments for each Group and interest received on the Home Loans during the related Due Period;
(vi) The amount the amount, if any, of interest received on the Mortgage Loans in each GroupOvercollateralization Surplus Amount;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date Servicing Compensation for each Groupsuch Payment Date;
(viii) The delinquency the Overcollateralization Amount with respect to such Payment Date, the Required Overcollateralization Amount as of such Payment Date, the Net Loan Losses incurred during the related Due Period and foreclosure information set forth in the form attached hereto as Exhibit Lcumulative Net Loan Losses with respect to such Payment Date;
(ix) The Remittance Amount for the amount, if any, paid on such Payment Date to each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separatelySubordinate Securities in respect of Deferred Amounts;
(x) The with respect to each Class of Subordinate Securities, the amount of the Insured any applicable Deferred Amounts for each Group, if any, remaining unreimbursed after giving effect to be paid payments made on the Distribution such Payment Date;
(xi) The amount to be distributed to the Class R Certificateholders for weighted average maturity of the Distribution Home Loans and the weighted average Home Loan Interest Rate of the Home Loans each as of such Payment Date;
(xii) The Class Principal Balance of each Class of Class A Certificates certain performance information, including delinquency and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect foreclosure information with respect to the distribution to be made on Home Loans, as set forth in the Distribution DateServicer's Monthly Remittance Report;
(xiii) The weighted average remaining term the amount of any Servicing Advance Reimbursement Amount to maturity of be paid to the Mortgage Loans in each Group Servicer on such Payment Date, and the weighted average Loan Rate in each Groupamount of any Servicing Advance Reimbursement Amount remaining unpaid following such payment;
(xiv) The Servicing Fee for each Group the number of and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount aggregate Principal Balance of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Home Loans in foreclosure proceedings (other than any Home Loans described in clause (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv)) and the amount paid percent of the aggregate Principal Balances of such Home Loans to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number the aggregate Principal Balances of Mortgage Loans in each Group outstanding at all Home Loans, all as of the beginning and at close of business on the end first day of the related Due Period;
(xxixv) The amount on deposit in each sub-account the number of and the aggregate Principal Balance of the Spread Account after Home Loans in bankruptcy proceedings (other than any Home Loans described in clause (xvii)) and the Distribution Datepercent of the aggregate Principal Balances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the first day of the related Due Period;
(xxiixvi) The amount the number of losses experienced Foreclosure Properties, the aggregate Principal Balance of the related Home Loans, the book value of such Foreclosure Properties and the percent of the aggregate Principal Balances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the Mortgage Loans in each Group first day of the related Due Period;
(xvii) during the preceding related Due Period, the aggregate Principal Balance of Home Loans for each of the following: (A) that became Liquidated Home Loans, (B) that became Deleted Home Loans pursuant to Section 3.05(c) as a result of such Deleted Home Loans being Defective Home Loans, and (C) that became Deleted Home Loans pursuant to Section 3.05(c) as a result of such Deleted Home Loans being Liquidated Home Loans or a Home Loan in foreclosure, default or imminent default, including the foregoing amounts by loan type (i.e., Combination Loans, Debt Consolidation Loans, Home Improvement Loans, and Purchase or Refinance Loans);
(xviii) from the Closing Date through the most current Due Period, the cumulative aggregate Principal Balance of Home Loans for each of the following: (A) that became Liquidated Home Loans, and (B) that became Deleted Home Loans pursuant to Section 3.05(c) as a result of such Deleted Home Loans being in foreclosure, default or imminent default;
(xix) the scheduled principal payments and the principal prepayments received with respect to the Home Loans during the related Due Period;
(xx) the number of and aggregate principal balance of all Home Loans (both during the related Due Period and in aggregate since the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal BalanceClosing Date) repurchased or substituted pursuant to Sections 2.06, 3.05 or 4.02;
(xxiiixxi) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Trigger Event has occurred and specifying is continuing; (xxii) the details thereof. The Trustee shall make such report available to number of Home Loans remaining in the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.Home Loan Pool; and
Appears in 1 contract
Sources: Sale and Servicing Agreement (Firstplus Investment Corp)
Statements. (a) Not later than 12:00 noon California a.m. New York time on the fourth day that is two Business Day following the last day of a Due PeriodDays before each Distribution Date, the Servicer shall Trust Administrator will deliver to the Trustee a computer tape containing (by hard copy) and the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Master Servicer, the Depositor and the Seller (by electronic transmission) in the format specified in Exhibit K (unless otherwise agreed to by the Certificate Insurer, by telecopyparties hereto), with a hard copy thereof to be delivered on the succeeding such Distribution Date, a statement (the “Trustee’s "Remittance Report”") (based solely on the computer or electronic Servicing Certificate for such Distribution Date provided pursuant to Section 4.1) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The the aggregate amount of the distribution to each Class of Certificateholders on such Distribution Date in respect of the Group 1 and Certificates or the Group 2 Available Funds and each Certificate Rate Certificates, as applicable;
(ii) the amount of distribution set forth in paragraph (i) above in respect of interest in respect of the Group 1 Certificates or the Group 2 Certificates, as applicable;
(iii) the amount of distribution set forth in paragraph (i) above in respect of principal in respect of the Group 1 Certificates or the Group 2 Certificates, as applicable;
(iv) the Pool Distribution Amount for such Distribution Date in respect of the Group 1 Certificates or the Group 2 Certificates, as applicable;
(v) for the related applicable Group of Certificates: any Class A Interest Shortfall Amount or Class B Interest Shortfall Amount arising with respect to each Class or any Class M Interest Shortfall Amount on such Distribution Date, any remaining unpaid Class A Interest Shortfall Amount or Class B Interest Shortfall Amount with respect to each Class, or any remaining unpaid Class M Interest Shortfall Amount, after giving effect to such distribution and any Non-Supported Interest Shortfall or the interest portion of Realized Losses allocable to such Class with respect to such Distribution Date;
(iivi) The Class Principal Balance of each Class of Class A Certificates for the applicable Pool: the Adjusted Pool Amount, the Adjusted Pool Amount (PO Portion), if applicable, and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Scheduled Principal Balance of the Mortgage Loans in each such Pool and, for the Holders of Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date1 Certificates, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date aggregate Scheduled Principal Balance of the Discount Pool 1 Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxivvii) The amount for the applicable Group of Certificates: the Class Interest Carryover Shortfall relating to A Percentage, Class M Percentage and Class B Percentage of each Class of Class A B Certificates for the following Distribution Date (without giving effect to Unscheduled Principal Receipts for the related Pool 125 132 received after the applicable Collection Period for the current Distribution Date that are applied during such Collection Period);
(viii) for the Holders of Group 1 Certificates, the Class 1A-PO Deferred Amount;
(ix) the aggregate Master Servicing Fee, Subservicing Fee, Trust Administration Fee and Trustee Fee for the applicable Pool;
(x) the Aggregate Loan Balance, as of the close of business on the last day of the preceding Collection Period in respect of the Pool 1 Mortgage Loans or the Pool 2 Mortgage Loans, as applicable;
(xi) the Class Principal Balance for each Class after giving effect to payments allocated to principal above in respect of the Group 1 Certificates or the Group 2 Certificates, as applicable;
(xii) the number and aggregate Loan Balances of the Mortgage Loans as to which the scheduled monthly payment is delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, as of the end of the Collection Period in respect of the Pool 1 Mortgage Loans or the Pool 2 Mortgage Loans, as applicable;
(xiii) the book value of any real estate which is acquired by the Trust through foreclosure or grant of deed in lieu of foreclosure in respect of the Pool 1 Mortgage Loans or the Pool 2 Mortgage Loans, as applicable;
(xiv) the aggregate amount of Prepayments received on the Mortgage Loans during the previous Collection Period in respect of the Pool 1 Mortgage Loans or the Pool 2 Mortgage Loans, as applicable;
(xv) the aggregate amount of scheduled principal payments received on the Mortgage Loans during the previous Collection Period in respect of the Pool 1 Mortgage Loans or the Pool 2 Mortgage Loans, as applicable;
(xvi) the weighted average maturity of the Mortgage Loans as of the first day of the month prior to the Distribution Date in respect of the Pool 1 Mortgage Loans or the Pool 2 Mortgage Loans, as applicable;
(xvii) the weighted average Loan Rate on the Mortgage Loans as of the first day of the month prior to the Distribution Date in respect of the Pool 1 Mortgage Loans or the Pool 2 Mortgage Loans, as applicable;
(xviii) the aggregate amount of Realized Losses related to such Collection Period in respect of the Pool 1 Mortgage Loans or the Pool 2 Mortgage Loans, as applicable; 126 133
(xix) the Aggregate Loan Balance and the Class A-IO Weighted Average Loan Rate, in respect of the Pool 1 Mortgage Loans or the Pool 2 Mortgage Loans, as applicable;
(xx) for Holders of Group 1 Certificates, separately stating the amount that is allocable to each such Notional Amount of the Class and the amount allocable to interest and principal1A-WIO Certificates; and
(xxvxxi) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred for the Holders of Group 1 Certificates, the Certificate Rate for the Class 1A-11 and specifying Class 1A-12 Certificates and the details thereofapplicable LIBOR. The Trustee shall make forward such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) Certificateholders on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon the information contained in each Remittance Report and shall have no liability with respect to information provided by the ServicerMaster Servicer or the Trust Administrator. The Trustee shall not be obligated to verify, recompute, reconcile or recalculate any information contained in any Remittance Report. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Master Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses subclause (ii) and (ixi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall furnish to each Person who at any time during the calendar year was a Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (ii) and (iii) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trust Administrator to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Residual Certificateholders a copy of the reports forwarded to any other Certificateholders in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Residual Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall deliver to each Person who at any time during the calendar year was a Residual Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Residual Certificateholder. Such obligation of the Trust Administrator shall be deemed to have been satisfied to the extent that substantially comparable 127 134 information shall be prepared and furnished to Certificateholders by the Trust Administrator pursuant to any requirements of the Code as from time to time in force.
(e) The Master Servicer and the Trust Administrator shall furnish to each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special, or other reports or information, whether or not provided for herein, as shall be necessary, reasonable, or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided, that the Master Servicer and the Trust Administrator shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer tapes furnished by the Master Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent provided in this Agreement and to the extent required by law, and to the extent the Seller instructs the Trust Administrator in acting to furnish information regarding the Trust or the Mortgage Loans to third-party information providers. No Person entitled to receive copies of such reports or tapes or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (First Union Residential Securitization Transactions Inc)
Statements. Not later than 12:00 noon California At the request of Landlord, Tenant shall provide to Landlord its current financial statements or other information discussing financial worth which Landlord shall use solely for purposes of this Lease and in connection with the ownership, management and disposition of the property subject hereto. ESTOPPEL CERTIFICATES Tenant agrees from time on the fourth Business Day following the last day to time within ten (10) days after request of a Due PeriodLandlord, to deliver to Landlord, or Landlord's designee, an estoppel certificate stating that this Lease is in full force and effect, the Servicer shall deliver date to which Rent has been paid, the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as unexpired portion of such Due Period this Lease and such other information matters pertaining to this Lease as the Trustee may be reasonably requested by Landlord. Failure by Tenant to execute and deliver such certificate shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance constitute an acceptance of the Mortgage Loans in each Group as reported in Premises and acknowledgment by Tenant that the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates statements included are true and the Original Notional Balance of each Class of Class A-IO Certificates correct without exception. Landlord and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ intend that any statement delivered pursuant to this Paragraph may be relied upon by any mortgagee, beneficiary, purchaser or prospective purchaser of the Project or any interest therein. The parties agree that ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ 's obligation to furnish such estoppel certificates in a timely fashion is a material inducement for Landlord's execution of the Lease. SECURITY DEPOSIT ▇▇▇▇▇▇ agrees to deposit with Landlord upon execution of this Lease, Attention: [________]) on its internet website located at “a Security Deposit as stated in the Basic Lease Information which sum shall be held by Landlord, without obligation for interest, as security for the performance of Tenant's covenants and obligations under this Lease, it being expressly understood and agreed that such deposit is not an advance rental deposit or a measure of damages incurred by Landlord in case of ▇▇▇.▇▇▇'s default. Upon the occurrence of any event of default by Tenant, Landlord may, from time to time, without prejudice to any other remedy provided herein or provided by law, use such fund to the extent necessary to make good any arrears of Rent or other payments due to Landlord hereunder, and any other damage, injury, expense or liability caused by such event of default, and Tenant shall pay to Landlord, on demand, the amount so applied in order to restore the Security Deposit to its original amount. Any remaining balance of such deposit shall be returned by Landlord to Tenant at such time after termination of this Lease that all of the Tenant's obligations under this Lease have been fulfilled. TENANT'S REMEDIES Tenant shall look solely to Landlord's interest in the Project for recovery of any judgment from Landlord. Landlord and Landlord's Affiliates shall never be personally liable for any such judgment. ASSIGNMENT AND SUBLETTING Tenant shall not assign or sublet the Premises or any part thereof without Landlord's prior written approval except as provided herein. If Tenant desires to assign this Lease or sublet any or all of the Premises, Tenant shall give Landlord written notice thirty (30) days prior to the anticipated effective date of the assignment or sublease. Landlord shall then have a period of fifteen (15) days following receipt of such notice to notify Tenant in writing that Landlord elects either (1) to terminate this Lease as to the space so affected as of the date so requested by ▇▇▇▇▇▇ (except in the event of an assignment to an Affiliate (as hereinafter defined)), or (2) to permit Tenant to assign this Lease or sublet such space, subject, however, to Landlord's prior written approval of the proposed assignee or subtenant and of any related documents or agreements associated with the assignment or sublease, such consent not to be unreasonably withheld so long as Tenant provides data and documentation reasonably satisfactory to Landlord that demonstrates that the use of the Premises by such proposed assignee or subtenant would be a Permitted Use, and the proposed assignee or subtenant is of sound financial condition (determined in Landlord's reasonable judgment). Any Rent or other consideration realized by Tenant under any such sublease or assignment (except to an Affiliate) in excess of the Rent payable hereunder, after deducting the amortization of (1) the reasonable cost of any improvements which ▇▇▇▇▇▇ has made for the purpose of assigning or subletting all or part of the Premises and (2) reasonable subletting and assignment costs, shall be divided and paid fifty percent (50%) to Tenant, fifty percent (50%) to Landlord. If Tenant is a closely held corporation (i.e., one whose stock is not publicly held and not traded through an exchange or over the counter), a transfer of corporate shares by sale, assignment, bequest, inheritance, operation of law or other disposition (including such a transfer to or by a receiver or trustee in federal or state bankruptcy, insolvency or other proceedings), in one or a series of related transactions, so as to result in a change in the present control of such corporation or any of its parent corporations by the person or persons owning a majority of said corporate shares, shall constitute an assignment for purposes of this Paragraph. If Tenant is a partnership, joint venture or other unincorporated business form, a transfer of the interest of persons, firms or entities responsible for managerial control of Tenant by sale, assignment, bequest, inheritance, or operation of law or other disposition, so as to result in a change in the present control of said entity and/or a change in the identity of the persons responsible for the general credit obligations of said entity shall constitute an assignment for all purposes of this Paragraph. No assignment or subletting by Tenant shall relieve Tenant of any obligations under this Lease. Any assignment or subletting which conflicts with the provisions hereof shall be void. Notwithstanding the foregoing, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on 's consent shall not be required for any assignment of the related Distribution Date. Assistance Lease or sublet of the Premises (either, a "Transfer") to an Affiliate, as long as the following conditions are met: At least fifteen (15) business days before the Transfer, Landlord receives written notice of the Transfer (as well as any documents or information reasonably requested by Landlord regarding the Transfer or the Affiliate); The Transfer is not a subterfuge by Tenant to avoid its obligations or liabilities under the Lease; The Affiliate assumes in using writing all of Tenant's obligations under this Lease relating to the website can be obtained portion of the Premises being assigned or sublet; and The Affiliate has a net worth immediately following the Transfer, as evidenced by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties financial statements delivered to Landlord and certified by an independent certified public accountant in accordance with generally accepted accounting principles that are unable consistently applied ("Net Worth") at least equal to use Tenant's Net Worth either immediately before the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount transfer or as of the Cut-Off Datedate of this Lease, whichever is greater.
Appears in 1 contract
Statements. Not (a) No later than 12:00 noon California time on the fourth Business Day following the last day of a Due Periodeach Servicing Report Date, the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the ServicerIndenture Trustee, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered Seller the Servicing Report.
(1) Based on the succeeding Distribution information provided by the Servicer in the Servicing Report, no later than two (2) Business Days before each Payment Date, the Indenture Trustee shall prepare and distribute a monthly statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) "Monthly Statement"), with respect to such Distribution DatePayment Date to the Seller, the Depositor, the Securityholders and each Rating Agency, stating the date of original issuance of the Securities (day, month and year), the name of the Issuer (i.e., "United National Home Loan Owner Trust 1999-1"), the series designation of the Securities (i.e., "Series 1999-1"), the date of this Agreement and the following information:
(i) The Group 1 the Available Collection Amount and Group 2 Available Funds and each Certificate Rate the Regular Payment Amount for the related Distribution Payment Date;
(ii) The the Class Principal Balance of each Class of Class A Certificates and the or Notional Balance of each Class of Class A-IO Certificates Securities and the Aggregate Pool Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance day of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance Due Period and after giving effect to payments and distributions made to the holders of the Mortgage Loans in each Groupsuch Securities on such Payment Date;
(iii) The number and Principal Balances the Class Pool Factor with respect to each Class of all Mortgage Loans and of the Mortgage Loans in each GroupSecurities then outstanding, that were the subject of Principal Prepayments during the Due Periodcarried to seven decimal places;
(iv) The the amount of all Curtailments in each Group that were principal and interest received on the Home Loans during the related Due Period;
(v) The principal portion of all Monthly Payments the Servicing Fee for each Group received during the Due Periodsuch Payment Date;
(vi) The amount the amount, if any, paid on such Payment Date to each Class of interest received on the Mortgage Loans Securities in each Grouprespect of Deferred Amounts;
(vii) The with respect to each Class of Securities the amount of the Monthly Advances and the Compensating Interest payment any applicable Deferred Amounts remaining unreimbursed after giving effect to be payments made on the Determination Date for each Groupsuch Payment Date;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Home Loans in each Group and the weighted average Home Loan Interest Rate in of the Home Loans each Groupas of such Payment Date;
(xivix) The Servicing Fee for each Group certain performance information, including delinquency and the amount to be paid foreclosure information with respect to the Certificate Insurer pursuant to Section 5.01Home Loans, as set forth in the Monthly Statement;
(xvx) The the amount of all payments or reimbursements Nonrecoverable Advances reimbursed to the Servicer pursuant to Section 3.03Servicer;
(xi) the number of and aggregate Principal Balance of all Home Loans in foreclosure proceedings (other than any Home Loans described in clause (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv)) and the amount paid percent of the aggregate Principal Balances of such Home Loans to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number the aggregate Principal Balances of Mortgage Loans in each Group outstanding at all Home Loans, all as of the beginning and at close of business on the end last day of the related Due Period;
(xxixii) The amount on deposit in each sub-account the number of and the aggregate Principal Balance of the Spread Account after Home Loans in bankruptcy proceedings (other than any Home Loans described in clause (xvii)) and the Distribution Datepercent of the aggregate Principal Balances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the last day of the related Due Period;
(xxiixiii) The amount the number of losses experienced on Foreclosure Properties, the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage aggregate Principal Balance of the related Home Loans, the book value of such Foreclosure Properties and the percent of the aggregate Principal Balances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the last day of the related Due Period;
(xiv) during the related Due Period, the aggregate Principal Balance of Home Loans for each of the following: (A) that became Liquidated Home Loans and (B) that became Deleted Home Loans pursuant to Section 3.05 as a result of such Deleted Home Loans being Liquidated Home Loans or a Home Loan in foreclosure, default or imminent default, including the foregoing amounts by loan type;
(xv) from the Cut-Off Date through the most current Due Period, the cumulative aggregate Principal BalanceBalance of Home Loans for each of the following: (A) that became Liquidated Home Loans, and (B) that became Deleted Home Loans pursuant to Section 3.05 as a result of such Deleted Home Loans being in foreclosure, default or imminent default;
(xxiiixvi) The Class A-2 Available Funds Carryforward, if any, after giving effect the scheduled principal payments and the principal prepayments received with respect to all distributions on such Distribution Datethe Home Loans during the related Due Period;
(xxivxvii) The amount the number of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and Home Loans remaining in the Class A-IO Certificates, separately stating Home Loan Pool;
(xviii) the amount that is allocable to each such Class and the amount allocable to interest and principalCumulative Losses; and
(xxvxix) Whether a Servicer Termination Delinquency Event such other information as may be reasonably requested by the Indenture Trustee, the Issuer or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Residual Interest Certificateholder.
(2) No later than two (2) Business Days before each Payment Date, the Indenture Trustee shall make prepare and distribute to the Seller, the Depositor and each Rating Agency a monthly statement that includes the cumulative aggregate Principal Balance of Home Loans that became Deleted Home Loans pursuant to Section 3.05(c) as a result of such report available Deleted Home Loans being Defective Home Loans, from the Closing Date through the most current Due Period.
(3) No later than seven days following a repurchase or substitution pursuant to Sections 2.06, 3.05 or 4.02, the Indenture Trustee shall notify each Rating Agency of the aggregate principal balances of the Home Loans repurchased or substituted and (if applicable) the relevant Substitution Adjustment. All reports prepared by the Indenture Trustee of the withdrawals from and deposits in the Collection Account will be based in whole or in part upon the information provided to the Indenture Trustee by the Servicer, and the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Indenture Trustee may fully rely upon and shall have no liability with respect to such information provided by the Servicer. To .
(c) Within a reasonable period of time after the extent that there are inconsistencies between end of each calendar year, the telecopy Indenture Trustee shall prepare and distribute to each Person who at any time during the calendar year was a Securityholder, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (b)(iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Securityholder.
(d) On each Payment Date, the Indenture Trustee shall forward to DTC and to the Holder of each Security a copy of the Trustee’s Remittance Report Monthly Statement in respect of such Payment Date and a statement setting forth the hard copy issued upon request amounts actually distributed to the holder of such Security on such Payment Date, together with such other information as the Indenture Trustee deems necessary or appropriate.
(e) Within a reasonable period of time after the end of each calendar year, the Indenture Trustee shall prepare and distribute to each Person who at any time during the calendar year was the Holder of a Security, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the preceding paragraphprevious paragraph aggregated for such calendar year or applicable portion thereof during which such Person was the holder of such Security.
(f) thereofUpon reasonable advance notice in writing, the Servicer will provide to each Securityholder which is a savings and loan association, bank or insurance company access to information and documentation regarding the Home Loans sufficient to permit such Securityholder to comply with applicable regulations of the FDIC or other regulatory authorities with respect to investment in such Securities.
(g) The Indenture Trustee shall furnish to each Securityholder, during the term of this Agreement, such periodic, special, or other reports, including information tax returns or reports required with respect to the Securities, including Internal Revenue Service Forms 1099 and (if instructed in writing by the Issuer on the basis of the advice of legal counsel) and other similar reports that are required to be filed by the Indenture Trustee or its agent and the Holder of the Certificates, whether or not provided for herein, as shall be necessary, reasonable, or appropriate with respect to the Securityholders, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Securityholders may rely upon reasonably require.
(h) Reports and computer tapes furnished by the latter. In Servicer and the case of information furnished Indenture Trustee pursuant to subclauses (ii) and (ix) above, the amounts this Agreement shall be expressed deemed confidential and of proprietary nature, and shall not be copied or distributed except in a separate section connection with the purposes and requirements of this Agreement. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the report Seller or the Servicer or for any other purpose except as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Dateset forth in this Agreement.
Appears in 1 contract
Sources: Sale and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Statements. (a) Not later than 12:00 noon California time noon, New York time, on the fourth Business Day following the last day of a Due Periodeach Determination Date, the Master Servicer shall deliver to the Trustee a computer tape containing (or such other report in a form and format mutually agreeable to the information set forth on Exhibit D Master Servicer and the Trustee) as to each Mortgage Loan as of such the end of the preceding Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time noon, New York time, on the Determination Distribution Date, the Trustee shall deliver make available to the Master Servicer, the Depositor and to Seller, the Certificate InsurerInsurer and the Cap Provider, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Datetelecopy or electronically (as provided below), a statement (the “"Trustee’s 's Remittance Report”") (based solely on the information contained on the computer tape upon which the Trustee may conclusively rely) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds for each Certificate Group and each Class' Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates Class, the Pool Principal Balance and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Loan Group Principal Balance of the Mortgage Loans in each Loan Group as reported in the prior Trustee’s 's Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Principal Balance of each Class of Class A Certificates and Class, the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Pool Principal Balance and the Cut-Off Date Loan Group Principal Balance of the Mortgage Loans in each Loan Group;
(iii) The aggregate amount of collections received on the Mortgage Loans on or prior to such Determination Date in respect of the preceding Due Period, separately stating the amounts received in respect of principal and interest;
(iv) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(ivv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount principal portion of all Monthly Payments received during the Due Period;
(vii) The interest portion of all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viiviii) The amount required to be paid by the Seller or Master Servicer (reported separately) pursuant to Sections 2.03, 2.06 or 3.01(f);
(ix) The amount of the Monthly Advances and the Compensating Interest payment Payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the with respect to such Distribution Date with the components thereof stated separatelyDate;
(x) The Class A Principal Distribution for each Certificate Group for the related Distribution Date, the Class Interest Distribution for the related Distribution Date to be distributed on each Class of Class A Certificates and Class X Certificates and any Net Funds Cap Carryover Amounts to be distributed on the Group 2 Certificates on the related Distribution Date;
(xi) The amount, if any, of the outstanding Class Interest Carryover Shortfall and Class A Principal Shortfall Amount for each Class after giving effect to the distributions on the related Distribution Date;
(xii) The Cap Contract Distributions and the Supplemental Interest Distributions owed, if any, on the related Distribution Date;
(xiii) The amount of the Insured Amounts for each GroupPayments, if any, to be paid made on the related Distribution Date;
(xixiv) The amount to be distributed to the Class R Certificateholders for the related Distribution Date;
(xiixv) The Class Principal Balance of for each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the related Distribution Date;
(xiiixvi) The weighted average remaining term to maturity of the Mortgage Loans in each Loan Group and the weighted average Loan Rate in each Loan Group;
(xivxvii) The Master Servicing Fee for each Group and to be paid to the amount Master Servicer;
(xviii) The aggregate Premium Amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xvxix) The amount of all payments or reimbursements to the Master Servicer pursuant to Section 3.03;
(xvixx) The Pool Factor for each Group determined Class of Class A Certificates using the balances in subclause (iixiv) above, computed to six (6) decimal places;
(xviixxi) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Base Spread Account Requirement for each Loan Group on the related Distribution Date and the amount on deposit therein for each Loan Group after giving effect to the withdrawals therefrom on such Distribution Account pursuant to Section 4.01Date;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xxxxii) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds CarryforwardPool Principal Balance and the Loan Group Principal Balance for each Loan Group, if any, after giving effect each as of the end of the Due Period related to all distributions on such Distribution Date;
(xxiv) The amount Separately stated for each Loan Group, the number and aggregate Principal Balances of Class Interest Carryover Shortfall relating Mortgage Loans (w) as to which the Monthly Payment is delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (x) that have become REO Properties, in each Class case as of Class A Certificates the end of the preceding Due Period, (y) that are in foreclosure and (z) the Class A-IO Certificates, separately stating Mortgagor of which is the amount that is allocable to each such Class and the amount allocable to interest and principal; andsubject of any bankruptcy or insolvency proceeding;
(xxv) Whether a Servicer Termination Delinquency Event The unpaid principal amount of all Mortgage Loans that became Liquidated Mortgage Loans during such Due Period;
(xxvi) The Net Liquidation Proceeds received during such Due Period;
(xxvii) The book value (within the meaning of 12 C.F.R.ss. 571.13 or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ comparable provision) of any real estate acqu▇▇▇▇ ▇▇▇ough foreclosure or grant of a deed in lieu of foreclosure;
(xxviii) For so long as the Master Servicer is the Seller, the Rating Agencies' ratings of the long-term unsecured debt of the Seller (to the extent such information is provided to the Trustee by the Certificate Insurer or the Master Servicer);
(xxix) Cumulative Net Losses and the Ninety Day+ Rolling Average as of such Distribution Date; and
(xxx) Such other information as is required by the Code and regulations thereunder to be made available to Holders of the Class A Certificates. The Trustee shall make available such report to the Master Servicer, the Seller, the Certificate Insurer, the Certificateholders, the Rating Agencies, Bloomberg (at 499 Park Avenue, New York, New York 10022, Attention: Mike Geller) ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ (▇▇ ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇cle, Needham, ▇▇▇▇▇▇▇▇▇▇tts 02144, Attention: Haro▇▇ ▇▇▇▇▇▇▇▇) ▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇; ▇rovided, howe▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]s specified in subclause (xviii) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can shall be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward deleted from all reports sent to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Dateor Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Master Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (xii) and (ixxvii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
Appears in 1 contract
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means and to the Certificate Insurer via e-mail at ▇▇▇▇▇▇▇▇@▇▇▇.▇▇▇, a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) through (xxvii) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination 4:00 p.m., New York time, three Business Days prior to each Distribution Date, the Trustee shall deliver to the Servicer, the Depositor Certificate Insurer and to the Certificate Insurer, Seller by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a confirmation of the items in clause (i) below. Not later than each Distribution Date the Trustee shall prepare a statement (the “Trustee’s "Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds and each Class' Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee, the Premium Amount and the Reimbursement Amount;
(vii) the Pool Balance as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof;
(xi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(ivxii) The the amount of all Curtailments in each Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Groupas of the first day of the month prior to the Distribution Date;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) [Reserved];
(xxiii) The Class A-2 Available Funds Carryforwardthe number and aggregate Principal Balance of Mortgage Loans, if anyother than Mortgage Loans in default or imminent default, after giving effect to all distributions on such Distribution Datethat were modified by the Servicer during the related Due Period;
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Certificates and Offered Certificates, other than the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalof Net Rate Cap Carryover remaining for each such Class;
(xxv) for each Pre-Funding Distribution Date, the amount in the Initial Interest Coverage Account;
(xxvi) for each Pre-Funding Distribution Date, the remaining amount in the Pre-Funding Account; and
(xxvxxvii) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofamount of the Insured Payments, if any, to be made on such Distribution Date. The Trustee shall make available such report available to the Servicer, the Depositor, the CertificateholdersSeller, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date; provided, however, that the Trustee shall remove from the report the Premium Amount to be paid to the Certificate Insurer prior to the submission to Bloomberg and Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and the parties to this Agreement via the Trustee's internet website. The Trustee's internet website shall initially be located at "▇▇▇.▇▇▇▇▇▇▇.▇▇▇". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Funding Corp /De/)
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means, a computer tape file containing the loan level information set forth on Exhibit D as necessary to each Mortgage Loan permit the Trustee to calculate the information required by clauses (i) through (xxiv) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require, and the Seller hereby agrees to provide the Trustee and the Servicer with an amended Prepayment Charge Schedule, if required, at such time. Not later than 12:00 noon California time on the Determination Date, each Distribution Date the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, prepare a statement (the “Trustee’s "Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds and each Class' Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal;
(vi) the Servicing Fee;
(vii) the Pool Balance as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof;
(xi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(ivxii) The the amount of all Curtailments in each Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class P Certificates, Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Groupas of the first day of the month prior to the Distribution Date;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) [Reserved];
(xxiii) The Class A-2 Available Funds Carryforwardthe number and aggregate Principal Balance of Mortgage Loans, if anyother than Mortgage Loans in default or imminent default, after giving effect to all distributions on such Distribution Date;that were modified by the Servicer during the related Due Period; and
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Certificates and the Class A-IO Offered Certificates, stating separately stating any amounts received from the amount that is allocable cap provider with respect to each such Class the Interest Rate Cap Agreement, and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofof Net Rate Cap Carryover remaining for each such Class. The Trustee shall make available such report available to the Servicer, the DepositorSeller, the Certificateholders, the Certificate InsurerRating Agencies, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and the parties to this Agreement via the Trustee's internet website. The Trustee's internet website shall initially be located at "▇▇▇.▇▇▇▇▇▇▇.▇▇▇". Assistance in using the website can be obtained by calling the Trustee's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access the Trustee's internet website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Trustee or and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to the Depositor, the Seller and each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Renaissance Mortgage Acceptance Corp)
Statements. Not (a) No later than 12:00 noon California time on each Determination Date, the fourth Servicer shall deliver to the Trustee (and any FHA Claims Administrator), by facsimile, the receipt and legibility of which shall be confirmed telephonically, and with hard copy thereof to be delivered no later than one (1) Business Day following after such Determination Date, the last day Servicer's Monthly Remittance Report, setting forth the date of a Due Periodsuch Report (day, month and year), the Series designation of the Certificates (i.e. "Series 199__-__"), and the date of this Agreement. Furthermore, no later than each Determination Date, the Servicer shall deliver to the Trustee a magnetic tape or computer tape containing disk providing such information regarding the information set forth on Exhibit D as to each Servicer's activities in servicing the Mortgage Loan as of such Loans during the related Due Period and such other information as the Trustee shall may reasonably require. Not later than 12:00 noon California time on the Determination .
(b) On each Remittance Date, the Servicer shall prepare and the Trustee shall deliver distribute a monthly statement (the "SERVICER'S MONTHLY STATEMENT") to the ServicerDepositor, the Depositor and Certificateholders, the Beneficial Owners (who have notified the Trustee by delivery of an Investment Letter to the Trustee), the Certificate Insurer, by telecopythe Rating Agencies and any FHA Claims Administrator, with a hard copy thereof to be delivered on stating the succeeding Distribution Datedate of original issuance of the Certificates (day, a statement month and year), the series designation of the Certificates (i.e. "Series 199__-__"), the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence date of this Section 5.01(a) has been so delivered) with respect to such Distribution DateAgreement and the following information:
(i) The Group 1 and Group 2 the Available Funds and each Certificate Rate Remittance Amount for the related Distribution Remittance Date;
(ii) The the Class Principal Balance of each Class of Certificates, exclusive of the Class A Certificates R Certificates, and the Notional Pool Principal Balance of each Class of Class A-IO Certificates (including, until the Funding Period ends, the amount remaining in the Pre- Funding Account and the Aggregate Principal Balance Capitalized Interest Account as of the Mortgage Loans in each Group such Remittance Date) as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance day of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance Due Period and after giving effect to distributions made to the Holders of the Mortgage Loans in each Groupsuch Certificates on such Remittance Date;
(iii) The number and Principal Balances the Class Pool Factor with respect to each Class of all Mortgage Loans and Certificates, exclusive of the Mortgage Loans in each GroupClass R Certificates, that were the subject of Principal Prepayments during the Due Periodthen outstanding;
(iv) The the amount of all Curtailments in each Group that were principal and interest received on the Conventional Mortgage Loans and the Title I Mortgage Loans during the related Due Period;
(v) The principal portion the Principal Remittance Amount, the Interest Remittance Amount, the Interest Carry-Forward Amount, the Principal Carry-Forward Amount and the amount of all Monthly Payments for any losses allocated to Certificateholders pursuant to Section 6.10, if any, with respect to each Group received during Class of Certificates, exclusive of the Due PeriodClass R Certificates, then outstanding;
(vi) The whether a Class R Distribution Trigger has occurred on such Remittance Date, and if so, the amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The any Excess Spread or any other amount to be distributed to the Class R Certificateholders for on such Remittance Date;
(vii) the Distribution Servicing Fees, the Trustee Fees, the Custodian Fees, the REMIC Administrative Fee, if any, the Certificate Insurer Premium and the amounts deposited to the FHA Insurance Premium Deposit Amount;
(viii) the FHA Insurance Amount before and after such Remittance Date, and the aggregate number of FHA Claims submitted, the aggregate principal balance of all the Mortgage Loans relating to FHA Claims finally rejected by the FHA and the amount of FHA Insurance Proceeds received, in each case, during the related Due Period, and the cumulative amount of FHA Insurance Proceeds received since the Closing Date;
(ix) the Class A Overcollateralization on such Remittance Date, the Required Class A Overcollateralization Level as of such Remittance Date, the Net Loan Losses incurred during the related Due Period and the cumulative Net Loan Losses as of such Remittance Date;
(x) the weighted average maturity of the Conventional Mortgage Loans and the Title I Mortgage Loans and the weighted average Mortgage Loan Interest Rate of the Conventional Mortgage Loans and the Title I Mortgage Loans;
(xi) certain performance information, including delinquency and foreclosure information with respect to the Conventional Mortgage Loans and the Title I Mortgage Loans, as set forth in the Servicer's Monthly Remittance Report;
(xii) The Class Principal Balance the amount of each Class of Class A Certificates and any Guaranteed Payment included in the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made amounts distributed on the Distribution such Remittance Date;
(xiii) The weighted average remaining term as identified with respect to maturity the applicable Class of Insured Certificates, the Mortgage Loans in each Group amount of any Certificate Insurer Reimbursement Amount to be distributed to the Certificate Insurer on such Remittance Date and the weighted average Loan Rate in each Groupamount of any Certificate Insurer Reimbursement Amount remaining unsatisfied following such distribution;
(xiv) The Servicing Fee for each Group the number of and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
aggregate Principal Balance of all Mortgage Loans in foreclosure proceedings (other than any Mortgage Loans described in clause (xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv)) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number percent of the aggregate Principal Balances of such Mortgage Loans in each Group outstanding at to the beginning and at aggregate Principal Balances of all Mortgage Loans, all as of the end close of business on the first day of the related Due Period;
(xxixv) The amount on deposit in each sub-account the number of and the Spread Account after the Distribution Date;
(xxii) The amount aggregate Principal Balance of losses experienced on the Mortgage Loans in each Group during the preceding Due Period bankruptcy proceedings (other than any Mortgage Loans described in clause (xiv)) and the cumulative losses for percent of the aggregate Principal Balances of such Mortgage Loans in each Group to the aggregate Principal Balances of all Mortgage Loans, all as a percentage of the close of business on the first day of the related Cut-Off Date Principal BalanceDue Period;
(xxiiixvi) The Class A-2 Available Funds Carryforwardthe number of REO Properties, if anythe aggregate Principal Balance of the related Mortgage Loans, after giving effect the book value of such REO Properties and the percent of the aggregate Principal Balances of such Mortgage Loans to the aggregate Principal Balances of all distributions Mortgage Loans, all as of the close of business on such Distribution Datethe first day of the related Due Period;
(xxivxvii) The amount the aggregate Principal Balance of Class Interest Carryover Shortfall relating to each Class of Class A Certificates Mortgage Loans that became Defaulted Mortgage Loans and the Class A-IO Certificates, separately stating aggregate Principal Balance of Mortgage Loans that became Liquidated Mortgage Loans during the amount that is allocable to each such Class and the amount allocable to interest and principalrelated Due Period; and
(xxvxviii) Whether a the cumulative aggregate Principal Balance of Mortgage Loans that became Defaulted Mortgage Loans and the cumulative aggregate Principal Balance of Mortgage Loans that became Liquidated Mortgage Loans from the Closing Date through the most current Due Period. All reports prepared by the Servicer Termination Delinquency Event of the withdrawals from and deposits in the Collection Account will be based in whole or a Servicer Termination Loss Event has occurred and specifying in part upon the details thereof. The information provided to the Trustee shall make such report available to by the Servicer, and the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to such information provided by the Servicer.
(c) Within a reasonable period of time after the end of each calendar year, the Servicer shall prepare and the Trustee shall distribute to each Person who at any time during the calendar year was a Certificateholder, exclusive of the Class R Certificateholders, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (b)(iv) and (v) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. To Such obligation of the Trustee shall be deemed to have been satisfied to the extent that there are inconsistencies between substantially comparable information shall be provided by the telecopy Servicer to the Trustee or the Certificateholders pursuant to any requirements of the Trustee’s Code as are in force from time to time.
(d) On each Remittance Report Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Class A Certificates and the hard copy issued upon request Class B Certificates in respect of such Remittance Date and a statement setting forth the amounts actually distributed to such Class R Certificateholders on such Remittance Date, together with such other information as the Trustee deems necessary or appropriate.
(e) Within a reasonable period of time after the end of each calendar year, the Servicer shall prepare and the Trustee shall distribute to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the preceding paragraphprevious paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer to the Trustee and then to the Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(f) thereofUpon reasonable advance notice in writing, the Servicer will provide to each holder of a Class A Certificate or a Class B Certificate which is a savings and loan association, bank or insurance company access to information and documentation regarding the Mortgage Loans sufficient to permit such Certificateholder to comply with applicable regulations of the FDIC or other regulatory authorities with respect to investment in such Certificates.
(g) The Servicer or its agent shall furnish to the Trustee, who in turn shall forward to each Certificateholder, during the term of this Agreement, such periodic, special, or other reports, including information tax returns or reports required with respect to the Certificates, including Internal Revenue Service Forms 1099 and (if instructed in writing by the Depositor on the basis of the advice of legal counsel) Form 1066, Schedule Q and other similar reports that are required to be filed by the Servicer or its agent and the Class R Certificateholders, whether or not provided for herein, as shall be necessary, reasonable, or appropriate with respect to the Certificateholder, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Certificateholder may rely upon reasonably require.
(h) Reports and computer tapes furnished by the latter. In Servicer and the case of information furnished Trustee pursuant to subclauses (ii) and (ix) above, the amounts this Agreement shall be expressed deemed confidential and of proprietary nature, and shall not be copied or distributed except in a separate section connection with the purposes and requirements of this Agreement. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the report Depositor or the Servicer or for any other purpose except as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Dateset forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Remodelers Investment Corp)
Statements. Not later than 12:00 noon California Chicago, Illinois time on the fourth Business Day following the last day of a Due Periodpreceding each Determination Date, the Servicer shall deliver to the Trustee and the Certificate Insurer a computer tape or written report containing the information set forth on Exhibit D ExhibitR as to each Mortgage Loan as of such with respect to the related Due Period and such other information with respect to the Mortgage Loans in the aggregate as the Trustee shall reasonably require. Not later than 12:00 noon California Chicago, Illinois time on the Determination two Business Days preceding each Payment Date, the Trustee shall deliver to the Depositors, any Paying Agent, the Servicer, the Depositor and to the Certificate Insurer, Moody's and S&P by telecopy, by request, a statement (the "Remittance Report") containing the information set forth below with respect to the succeeding Payment Date, with a hard copy thereof to be delivered on the immediately succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution DateBusiness Day:
(i) The the Available Payment Amount attributable to each Mortgage Loan Group 1 and Group 2 any portion of the Available Funds and each Certificate Rate for Payment Amount that has been deposited in the related Distribution DateCollection Account but may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to Section 362 of the United States Bankruptcy Code;
(ii▇▇) The ▇▇▇ ▇▇▇▇▇ ▇-▇ ▇▇▇▇▇▇▇▇▇ Balance, the Class A-2 Principal Balance, the Class A-3 Principal Balance, the Class A-4 Principal Balance, the Class A-5 Principal Balance, the Class A-6 Principal Balance, the Class A-7 Principal Balance, the Class A-8 Principal Balance, the Class A-9 Principal Balance, the Class A-10 Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of the with respect to each Mortgage Loans in each Group Loan Group, as reported in the prior Trustee’s Remittance Report provided pursuant to subclause (xiixiii) belowbelow for the immediately preceding Payment Date, or, in the case of the first Determination Date, the Original Class Certificate A-1 Principal Balance, the Original Class A-2 Principal Balance, the Original Class A-3 Principal Balance, the Original Class A-4 Principal Balance, the Original Class A-6 Principal Balance, the Original Class A-7 Principal Balance, the Original Class A-8 Principal Balance, the Original Class A-9 Principal Balance, the Original Class A-10 Principal Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Pool Principal Balance of the with respect to each Mortgage Loans in each Loan Group;
(iii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that which were the subject of Principal Prepayments during the related Due Period;
(iv) The with respect to the Mortgage Pool and each Mortgage Loan Group, the amount of all Curtailments in each Group that which were received during the related Due Period;
(v) The with respect to the Mortgage Pool and each Mortgage Loan Group, the aggregate amount of principal portion of all Monthly Payments for each Group received during the related Due Period;
(vi) The with respect to the Mortgage Pool and each Mortgage Loan Group, the amount of interest received on the Mortgage Loans in each Groupduring the related Due Period;
(vii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the aggregate amount of the Monthly Advances made and the Compensating Interest payment recovered with respect to be made on the Determination Date for each Groupsuch Payment Date;
(viii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the delinquency and foreclosure information set forth in the form attached hereto as Exhibit LExhibitH and the amount of Mortgage Loan Losses during the related Due Period;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for A-1 Principal Balance, the Distribution Date;
(xii) The Class A-2 Principal Balance, the Class A-3 Principal Balance, the Class A-4 Principal Balance, the Class A-5 Principal Balance, the Class A-6 Principal Balance, the Class A-7 Principal Balance, the Class A-8 Principal Balance, the Class A-9 Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate A-10 Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution such Payment Date;
(xiiix) The with respect to the Mortgage Pool and each Mortgage Loan Group, the weighted average remaining term to maturity and the weighted average Mortgage Interest Rate of the Mortgage Loans in each Mortgage Loan Group and as of the weighted average Loan Rate in each Grouplast day of the related Due Period;
(xivxi) The the Servicing Fee for each Group Fees paid and Servicing Fees accrued during the amount to be paid to the Certificate Insurer pursuant to Section 5.01related Due Period;
(xvxii) The the amount of all payments or reimbursements to the Servicer pursuant to Section 3.035.04 (ii), (iv), (v), (vi) and (vii) paid or to be paid since the prior Payment Date (or in the case of the first Payment Date, since the Closing Date);
(xvixiii) The the Pool Factor Principal Balance and aggregate Principal Balance for each Mortgage Loan Group determined using as of the balances in subclause (ii) abovelast day of the related Due Period;
(xviixiv) The amountsuch other information as the Certificate Insurer, if any, transferred from each Account Party and the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01Certificateholders may reasonably require;
(xviiixv) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer Servicer, the Representative or the SellerDepositors, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix)6.05;
(xxxvi) The with respect to the Mortgage Pool and each Mortgage Loan Group, the number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixvii) The the aggregate interest accrued on the Mortgage Loans at their respective Mortgage Interest Rates for the related Due Period;
(xviii) [Reserved]
(xix) the Subordinated Amount, the amount on deposit in each sub-account of the Spread Account Account, the Cumulative Excess Spread Receipts, in each case after giving effect to any payments or withdrawals on such Payment Date, and with respect to the Distribution Mortgage Pool and each Mortgage Loan Group, the Excess Spread with respect to such Payment Date;
(xxiixx) The amount the aggregate Mortgage Loan Losses since the Cut-off Date as of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage end of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalDue Period; and
(xxvxxi) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. [Reserved] The Trustee shall make forward such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” Certificateholders on the related Distribution Payment Date. Assistance , by telecopy, with a hard copy to follow (in using the website can be obtained case of the Depository) or by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Datemail. The Depositors and the Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer and the Trustee may rely upon the lattertelecopy. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each of the Class A Certificates for each $1,000 original dollar amount as of the Cut-Off off Date.
(a) Upon reasonable advance notice in writing, the Servicer will provide to the Trustee access to information and documentation regarding the Mortgage Loans sufficient to permit any Holder which is a savings and loan association, bank or insurance company to comply with applicable regulations of the FDIC or other regulatory authorities with respect to investment in the Certificates, as applicable.
(b) The Servicer shall furnish to the Trustee and to the Certificate Insurer, during the term of this Agreement, such periodic, special, or other reports or information not specifically provided for herein, as may be necessary, reasonable, or appropriate with respect to the Trustee or the Certificate Insurer, as the case may be, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Trustee or the Certificate Insurer may reasonably require; provided, that the Servicer shall be entitled to be reimbursed by the requesting party, for the fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of its business.
(c) Reports and computer tapes furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of proprietary nature, and shall not be copied or distributed except in connection with the purposes and requirements of this Agreement; provided that the Certificate Insurer may copy or distribute such information (A) pursuant to a subpoena or order issued by a court of competent jurisdiction or by a judicial or administrative or legislative body or committee, (B) as may be required in any report, statement or testimony submitted to any Federal, state, municipal or other regulatory body having jurisdiction over the Certificate Insurer, (C) in order to comply with any law, ruling, order or regulation applicable to the Certificate Insurer, or (D) as may be required by any rating agency or reinsurer. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the Originators or for any other purpose except as set forth in this Agreement.
(d) The Trustee shall promptly send to the Certificate Insurer and, upon request, to each Certificateholder in writing:
(i) notice of any reduction in the Specified Spread Account Requirement;
(ii) notice of any reduction of the percentages set forth in the definition of "Monthly Excess Spread Amount";
(iii) notice of the appointment of any Subservicer;
(iv) notice of any transfer of any Account to a different depository institution;
(v) notice of any reduction in the rating of any Letter of Credit Bank below the minimum ratings described in Section 6.11(b);
(vi) a copy of each Officer's Certificate delivered pursuant to Section 7.04 and any notice received from the Servicer of a change in the fiscal year of the Servicer;
(vii) a copy of each letter delivered pursuant to Section 7.05; and
(viii) notice of the receipt by the Trustee of any information regarding the Servicer's servicing activities pursuant to the last paragraph of Section 10.01(c); provided, that in each case the Trustee shall only be required to send such notices and other items to such Persons to the extent that the Trustee has itself received the related information. The Depositors, the Servicer and the Trustee on behalf of Certificateholders (the "Trust Parties") hereby authorize the Certificate Insurer to include the information contained in reports provided to the Certificate Insurer hereunder (the "Information") on The Bloomberg, an on-line computer based information network maintained by Bloomberg L.P. ("Bloomberg"), or in other electronic or print information services. The Trust Parties agree not to commence any actions or proceedings, or otherwise assert any claims, against the Certificate Insurer or its affiliates or any of the Certificate Insurer's or its affiliates' respective agents, representatives, directors, officers or employees (collectively, the "Certificate Insurer Parties"), arising out of, or related to or in connection with the dissemination and/or use of any Information by the Certificate Insurer, including, but not limited to, claims based on allegations of inaccurate, incomplete or erroneous transfer of information by the Certificate Insurer to Bloomberg or otherwise (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Trust Parties waive their rights to assert any such claims against the Certificate Insurer Parties and fully and finally release the Certificate Insurer Parties from any and all such claims, demands, obligations, actions and liabilities (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Certificate Insurer makes no representations or warranties, expressed or implied, of any kind whatsoever with respect to the accuracy, adequacy, timeliness, completeness, merchantability or fitness for any particular purpose of any Information in any form or manner. The Certificate Insurer reserves the right at any time to withdraw or suspend the dissemination of the Information by the Certificate Insurer. The authorizations, covenants and obligations of the Trust Parties under this section shall be irrevocable and shall survive the termination of this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Eqcc Asset Backed Corp)
Statements. Not (a) No later than 12:00 noon California time on the fourth Business Day following the last day of a Due Periodeach Determination Date, the Servicer shall deliver to the Indenture Trustee (i) a printed report setting forth the payments and collections received with respect to the Loans during the Due Period for the month immediately preceding the month in which such Determination Date occurs (each such tape, a "Servicer Remittance Report") and (ii),if not included in the Servicer Remittance Report, a printed report and an electromagnetic tape in computer tape containing readable format, setting forth the information set forth on Exhibit D as to each Mortgage Loan as described in clauses (A) --(I) of Section 6.1(b) for the month immediately preceding the month in which such Due Period and Determination Date occurs (such other information as the Trustee shall reasonably requirereport, a "Delinquency Report"). Not Furthermore, no later than 12:00 noon California time on the each Determination Date, the Trustee Servicer shall deliver to the Indenture Trustee a magnetic tape or computer disk providing such information regarding the Servicer, 's activities in servicing the Depositor and to Loans during the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on related Due Period as the succeeding Indenture Trustee may reasonably require.
(b) On each Distribution Date, Indenture Trustee shall distribute, based on information provided by the Servicer, a monthly statement (the “Trustee’s Remittance Report”) containing the information set forth below ("Distribution Statement"), to the extent any such information to be delivered by Depositor, the Servicer pursuant to Securityholders and the first sentence Rating Agencies, stating the date of original issuance of the Securities (day, month and year), the name of the Issuer (i.e. "_______________ Trust ____________"), the series designation of the Notes (i.e., "Series ___________"), the date of this Section 5.01(a) has been so delivered) with respect to such Distribution DateAgreement and the following information:
(i) The Group 1 the Available Collection Amount and Group 2 Available Funds and each Certificate Rate Distribution Amount for the related Distribution Date;
(ii) The the Class Principal Balance of each Class of Class A Certificates Notes before and after giving effect to distributions made to the holders of such Securities on such Distribution Date, and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance and last day of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each GroupDue Period;
(iii) The number and Principal Balances of all Mortgage Loans and the Class Factor with respect to each Class of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due PeriodSecurities then outstanding;
(iv) The the amount of all Curtailments in each Group that were principal and interest received on the Loans during the related Due Period;
(v) The principal portion with respect to each Class of all Monthly Payments for each Group received during Notes, the Due PeriodOptimal Principal Balance thereof;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances Overcollateralization Deficiency Amount, and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The any amount to be distributed to the Class R Certificateholders for Noteholders or the holders of the Residual Interests on such Distribution Date;
(xiivii) The Class Principal Balance of each Class of Class A Certificates the Servicing Compensation, the Indenture Trustee Fee, the Owner Trustee Fee and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Custodial Fee for such Distribution Date;
(xiiiviii) The the Overcollateralization Amount on such Distribution Date, the Overcollateralization Target Amount as of such Distribution Date, the Net Loan Losses incurred during the related Due Period, the cumulative Net Loan Losses as of such Distribution Date and Allocable Loss Amount for such Distribution Date;
(ix) the weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Interest Rate in each Groupof the Loans;
(xivx) The Servicing Fee for each Group certain performance information, including delinquency and the amount to be paid foreclosure information with respect to the Certificate Insurer pursuant to Section 5.01;Loans, as set forth in the Servicer's Monthly Remittance Report; and
(xvxi) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Pre-Funding Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period. In addition, on each Distribution Date the Indenture Trustee shall distribute to each Securityholder, together with the information described above, the following information based solely upon information provided to the Indenture Trustee pursuant to Section 6.1(a) upon which the Indenture Trustee may conclusively rely without independent verification:
(A) the number and aggregate Principal Balance (including the percentage equivalent relative to the aggregate Principal Balance of all Loans) of Loans (i) 30-59 days delinquent, (ii) 60-89 days delinquent and (iii) 90 days or more delinquent (which statistics shall include Loans in foreclosure and bankruptcy but which shall exclude Foreclosure Properties), as of the close of business on the last day of the calendar month next preceding such Distribution Date and the aggregate Principal Balances of all Loans as of such date;
(xxiB) The amount on deposit the number of, and aggregate Principal Balance of, all Loans in each sub-account foreclosure proceedings (other than any Loans described in clause (C)) and the percent of the Spread Account after aggregate Principal Balances of such Loans to the Distribution Date;
(xxii) The amount aggregate Principal Balances of losses experienced all Loans, all as of the close of business on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage last day of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on calendar month next preceding such Distribution Date;
(xxivC) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates the number of, and the Class A-IO Certificatesaggregate Principal Balance of, separately stating the amount that is allocable related Loans in bankruptcy proceedings (other than any Loans described in clause (B)) and the percent of the aggregate Principal Balances of such Loans to the aggregate Principal Balances of all Loans, all as of the close of business on the last day of the calendar month next preceding such Distribution Date;
(D) the number of Foreclosure Properties, the aggregate Principal Balances of the related Loans, the book value of such Foreclosure Properties and the percent of the aggregate Principal Balances of such Loans to the aggregate Principal Balances of all Loans, all as of the close of business on the last day of the calendar month next preceding such Distribution Date;
(E) for each Foreclosure Property, the Principal Balance of the related Loan, the loan number of such Class Loan, the value of the Mortgaged Property, the value established by any new appraisal, the estimated cost of disposing of the Loan and the amount allocable to interest and principal; andof any unreimbursed Servicing Advances;
(xxvF) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicerfor each Loan which is in foreclosure, the DepositorPrincipal Balance of such Loan, the Certificateholdersbook value of the Mortgaged Property, the Certificate Insurercombined loan-to-value ratio as of the date of origination, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” combined loan-to-value ratio as of the close of business on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy last day of the computer tape delivered by the Servicer on the calendar month next preceding such Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report Date and the hard copy issued upon request last paid-to-date;
(G) the principal balance of each Loan that was modified or extended pursuant to the preceding paragraphterms hereof;
(H) thereofduring the related Due Period, the Servicer may rely upon number of and aggregate Principal Balance and the latter. In loan numbers of Loans for each of the case of information furnished following: (A) that became Liquidated Loans, (B) that became Defective Loans pursuant to subclauses (ii) Section 3.5 as a result of such Defective Loans being Defective Loans, and (ixC) abovethat became Defaulted Loans;
(I) from the Closing Date through the most current Due Period, the amounts shall be expressed in a separate section number of and cumulative aggregate Principal Balance of Loans for each of the report following: (A) that became Liquidated Loans, (B) that became Defective Loans pursuant to Section 3.5 as a dollar amount for each Class for each $1,000 original dollar amount result of such Deleted Home loans being Defective Loans, and (C) that became Defective Loans pursuant to Section 3.5 as a result of such Defective Loans being Defaulted Loans or a Loan in default or imminent default, including the Cut-Off Date.foregoing amounts by loan type (i.
Appears in 1 contract
Sources: Sale and Servicing Agreement (Residential Asset Funding Corp)
Statements. Not later than 12:00 noon California Chicago, Illinois time on the fourth Business Day following the last day of a Due Periodpreceding each Determination Date, the Servicer shall deliver to the Trustee and the Certificate Insurer a computer tape or written report containing the information set forth on Exhibit D R as to each Mortgage Loan as of such with respect to the related Due Period and such other information with respect to the Mortgage Loans in the aggregate as the Trustee shall reasonably require. Not later than 12:00 noon California Chicago, Illinois time on the Determination two Business Days preceding each Payment Date, the Trustee shall deliver to the Depositors, any Paying Agent, the Servicer, the Depositor and to the Certificate Insurer, Moody's and S&P by telecopy, by request, a statement (the "Remittance Report") containing the information set forth below with respect to the succeeding Payment Date, with a hard copy thereof to be delivered on the immediately succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution DateBusiness Day:
(i) The the Available Payment Amount attributable to each Mortgage Loan Group 1 and Group 2 any portion of the Available Funds and each Certificate Rate for Payment Amount that has been deposited in the related Distribution DateCollection Account but may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to ▇▇▇▇▇▇▇ ▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Bankruptcy Code;
(ii) The the Class A-1F Principal Balance, the Class A-1A Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of the with respect to each Mortgage Loans in each Group Loan Group, as reported in the prior Trustee’s Remittance Report provided pursuant to subclause (xiixiii) belowbelow for the immediately preceding Payment Date, or, in the case of the first Determination Date, the Original Class Certificate A-1F Principal Balance, the Original Class A-1A Principal Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Pool Principal Balance of the with respect to each Mortgage Loans in each Loan Group;
(iii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that which were the subject of Principal Prepayments during the related Due Period;
(iv) The with respect to the Mortgage Pool and each Mortgage Loan Group, the amount of all Curtailments in each Group that which were received during the related Due Period;
(v) The with respect to the Mortgage Pool and each Mortgage Loan Group, the aggregate amount of principal portion of all Monthly Payments for each Group received during the related Due Period;
(vi) The with respect to the Mortgage Pool and each Mortgage Loan Group, the amount of interest received on the Mortgage Loans in each Groupduring the related Due Period;
(vii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the aggregate amount of the Monthly Advances made and the Compensating Interest payment recovered with respect to be made on the Determination Date for each Groupsuch Payment Date;
(viii) The with respect to the Mortgage Pool and each Mortgage Loan Group, the delinquency and foreclosure information set forth in the form attached hereto as Exhibit LH and the amount of Mortgage Loan Losses during the related Due Period;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class A-1F Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate A-1A Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution such Payment Date;
(xiiix) The with respect to the Mortgage Pool and each Mortgage Loan Group, the weighted average remaining term to maturity and the weighted average Mortgage Interest Rate of the Mortgage Loans in each Mortgage Loan Group and as of the weighted average Loan Rate in each Grouplast day of the related Due Period;
(xivxi) The the Servicing Fee for each Group Fees paid and Servicing Fees accrued during the amount to be paid to the Certificate Insurer pursuant to Section 5.01related Due Period;
(xvxii) The the amount of all payments or reimbursements to the Servicer pursuant to Section 3.035.04 (ii), (iv), (v), (vi) and (vii) paid or to be paid since the prior Payment Date (or in the case of the first Payment Date, since the Closing Date);
(xvixiii) The the Pool Factor Principal Balance and aggregate Principal Balance for each Mortgage Loan Group determined using as of the balances in subclause (ii) abovelast day of the related Due Period;
(xviixiv) The amount, if any, transferred from such other information as the Simple Interest Excess Account to Certificate Insurer and the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01Certificateholders may reasonably require;
(xviiixv) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer Servicer, the Representative or the SellerDepositors, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix)6.05;
(xxxvi) The with respect to the Mortgage Pool and each Mortgage Loan Group, the number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixvii) The the aggregate interest accrued on the Mortgage Loans at their respective Mortgage Interest Rates for the related Due Period;
(xviii) the Subordinated Amount, the amount on deposit in each sub-account of the Spread Account Account, the Cumulative Excess Spread Receipts, in each case after giving effect to any payments or withdrawals on such Payment Date, and with respect to the Distribution Mortgage Pool and each Mortgage Loan Group, the Excess Spread with respect to such Payment Date;
(xxiixix) The amount the aggregate Mortgage Loan Losses since the Cut-off Date as of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage end of the related Cut-Off Date Principal BalanceDue Period;
(xxiiixx) The Class A-2 Available Funds Carryforwardthe LIBOR Interest Carryover with respect to such Payment Date and, if anyany such unpaid LIBOR Interest Carryover from prior Payment Date(s), after giving effect to all distributions on such Distribution Dateincluding interest accrued thereon;
(xxivxxi) The amount of Class Interest the Yield Supplement Carryover Shortfall relating with respect to each Class of Class A Certificates and the Class A-IO Certificatessuch Payment Date and, separately stating the amount that is allocable to each any such Class and the amount allocable to unpaid Yield Supplement Carryover from prior Payment Date(s), including interest and principalaccrued thereon; and
(xxvxxii) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred any amounts deposited into and specifying released from the details thereofYield Supplement Sub-Account. All amounts received by Class A-1F Certificateholders from the Yield Supplement Sub-Account in respect of Yield Supplement Amounts. The Trustee shall make forward such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” Certificateholders on the related Distribution Payment Date. Assistance , by telecopy, with a hard copy to follow (in using the website can be obtained case of the Depository) or by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Datemail. The Depositors and the Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer and the Trustee may rely upon the lattertelecopy. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each of the Class A Certificates for each $1,000 original dollar principal amount as of the Cut-Off off Date.
(a) Upon reasonable advance notice in writing, the Servicer will provide to the Trustee access to information and documentation regarding the Mortgage Loans sufficient to permit any Holder which is a savings and loan association, bank or insurance company to comply with applicable regulations of the FDIC or other regulatory authorities with respect to investment in the Certificates, as applicable.
(b) Not later than 10 days after each Payment Date, the Servicer shall provide the Loss Coverage Ratio to the Trustee and the Certificate Insurer as of the most recent Payment Date. In addition, the Servicer shall furnish to the Trustee and to the Certificate Insurer, during the term of this Agreement, such periodic, special, or other reports or information not specifically provided for herein, as may be necessary, reasonable, or appropriate with respect to the Trustee or the Certificate Insurer, as the case may be, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions as the Trustee or the Certificate Insurer may reasonably require; provided, that the Servicer shall be entitled to be reimbursed by the requesting party, for the fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of its business.
(c) Reports and computer tapes furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of proprietary nature, and shall not be copied or distributed except in connection with the purposes and requirements of this Agreement; provided that the Certificate Insurer may copy or distribute such information (A) pursuant to a subpoena or order issued by a court of competent jurisdiction or by a judicial or administrative or legislative body or committee, (B) as may be required in any report, statement or testimony submitted to any Federal, state, municipal or other regulatory body having jurisdiction over the Certificate Insurer, (C) in order to comply with any law, ruling, order or regulation applicable to the Certificate Insurer, or (D) as may be required by any rating agency or reinsurer. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the Originators or for any other purpose except as set forth in this Agreement.
(d) The Trustee shall promptly send to the Certificate Insurer and, upon request, to each Certificateholder in writing:
(i) notice of any reduction in the Specified Spread Account Requirement;
(ii) notice of any reduction of the percentages set forth in the definition of "Monthly Excess Spread Amount";
(iii) notice of the appointment of any Subservicer;
(iv) notice of any transfer of any Account to a different depository institution;
(v) a copy of each Officer's Certificate delivered pursuant to Section 7.04 and any notice received from the Servicer of a change in the fiscal year of the Servicer;
(vi) a copy of each letter delivered pursuant to Section 7.05; and
(vii) notice of the receipt by the Trustee of any information regarding the Servicer's servicing activities pursuant to the last paragraph of Section 10.01(c); provided, that in each case the Trustee shall only be required to send such notices and other items to such Persons to the extent that the Trustee has itself received the related information. The Depositors, the Servicer and the Trustee on behalf of Certificateholders (the "Trust Parties") hereby authorize the Certificate Insurer to include the information contained in reports provided to the Certificate Insurer hereunder (the "Information") on The Bloomberg, an on-line computer based information network maintained by Bloomberg L.P. ("Bloomberg"), or in other electronic or print information services. The Trust Parties agree not to commence any actions or proceedings, or otherwise assert any claims, against the Certificate Insurer or its affiliates or any of the Certificate Insurer's or its affiliates' respective agents, representatives, directors, officers or employees (collectively, the "Certificate Insurer Parties"), arising out of, or related to or in connection with the dissemination and/or use of any Information by the Certificate Insurer, including, but not limited to, claims based on allegations of inaccurate, incomplete or erroneous transfer of information by the Certificate Insurer to Bloomberg or otherwise (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Trust Parties waive their rights to assert any such claims against the Certificate Insurer Parties and fully and finally release the Certificate Insurer Parties from any and all such claims, demands, obligations, actions and liabilities (other than in connection with the Certificate Insurer's negligence or willful misconduct). The Certificate Insurer makes no representations or warranties, expressed or implied, of any kind whatsoever with respect to the accuracy, adequacy, timeliness, completeness, merchantability or fitness for any particular purpose of any Information in any form or manner. The Certificate Insurer reserves the right at any time to withdraw or suspend the dissemination of the Information by the Certificate Insurer. The authorizations, covenants and obligations of the Trust Parties under this section shall be irrevocable and shall survive the termination of this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Eqcc Home Equity Loan Trust 1998-3)
Statements. Not later than 12:00 noon California time 8.4.1 Sunovion shall submit statements to Urovant on the fourth Business Day following the last day a monthly basis for any Initial Co-Promotion Period Expenses, Reimbursed Co-Promotion Expenses, and CPC Approved Expenses incurred by or on behalf of a Due PeriodSunovion, the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (solely to the extent there are any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments expenses during the Due Period;
(iv) preceding month. The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to foregoing statements shall be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount Payout Threshold. Sunovion shall use reasonable efforts to provide an estimate to Urovant for each Groupany such Initial Co-Promotion Period Expenses, Reimbursed Co-Promotion Expenses, and CPC Approved Expenses by the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
third (xix3rd) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at Business Day after the end of the related Due applicable month. Urovant shall notify Sunovion in writing of any disputed statement within thirty (30) days of receipt of such statement, and the Parties will resolve such Dispute promptly and in good faith. If such Dispute is not resolved within thirty (30) days of such Dispute notice, then either Party may refer such Dispute for resolution in accordance with Section 15.10.
8.4.2 During the Initial Co-Promotion Period;
(xxi) The amount , Urovant shall submit invoices to Sunovion on deposit in each sub-account a monthly basis for any Urovant Expenses and CPC Approved Expenses incurred by or on behalf of Urovant, solely to the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group extent there are any such expenses during the preceding Due Period month. Urovant shall use reasonable efforts to provide an estimate to Sunovion for any such Urovant Expenses and CPC Approved Expenses by the third (3rd) Business Day after the end of the applicable month. Sunovion shall notify Urovant in writing of any disputed statement within ten (10) days of receipt of such invoice, and the cumulative losses Parties will resolve such Dispute promptly and in good faith. If such Dispute is not resolved within ten (10) days of such Dispute notice, then either Party may refer such Dispute for resolution in accordance with Section 15.10. Sunovion shall pay Urovant the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
undisputed invoice within thirty (xxv30) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details days after receipt thereof. The Trustee shall make such report available amounts reimbursed to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts Urovant from foregoing invoices shall be expressed in a separate section of used to determine the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off DatePayout Threshold.
Appears in 1 contract
Statements. (a) Not later than 12:00 noon 1:00 p.m., California time time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic modem a computer tape file containing the information set forth on Exhibit D as to each Mortgage Loan called for by clauses (i) through (xxiii) below as of such the end of the preceding Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon 1:00 p.m., California time time, on the each Determination Date, the Trustee shall deliver to the Servicer, Servicer and the Depositor and to the Certificate Insurer, Seller by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a confirmation of the items in clause (i) below. Not later than one Business Day prior to each Distribution Date the Trustee shall deliver a statement (the “"Trustee’s 's Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification or calculation thereof:
(i) The Group 1 and Group 2 Available Funds for each Certificate Group and each Class's Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest for each Loan Group paid as principal;
(vi) the Servicing Fee;
(vii) the Loan Group Balance of each Loan Group and the Pool Balance, in each case as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) each Overcollateralization Amount and each Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) for each Certificate Group, whether a Trigger Event or a Cumulative Loss Event has occurred and is continuing;
(xi) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, Loan Group that were the subject of Principal Prepayments during the Due Period;
(ivxii) The amount of all Curtailments in each Loan Group that were received during the Due Period;
(vxiii) The principal portion of all Monthly Payments for in each Loan Group received during the Due Period;
(vixiv) The amount interest portion of interest all Monthly Payments in each Loan Group received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The For each Certificate Group, the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiiixvii) The weighted average remaining term to maturity of the Mortgage Loans in each Loan Group and the weighted average Loan Rate in each GroupRate;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xvxviii) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Loan Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in For each sub-account of Certificate Group, the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for Loan Losses and the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) For each Loan Group, as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent; the number and Principal Balance of Mortgage Loans which are in foreclosure; and the number and Principal Balance of Mortgage Loans which are REO Property;
(xxii) For each Certificate Group the calculation of the Trigger Event and the Cumulative Loss Event;
(xxiii) The Class A-2 Available Funds CarryforwardFor each Loan Group, if anythe number and aggregate Principal Balance of Mortgage Loans, after giving effect to all distributions on such Distribution Date;other than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period; and
(xxiv) The amount of Class Interest Carryover Shortfall relating to For each Class of Class A Certificates and Pre-Funding Distribution Date, the Class Aremaining Allocated Pre-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofFunded Amount. The Trustee shall make forward such report available to the Servicer, the DepositorSeller, the Certificateholders, the Certificate InsurerRating Agencies, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. The Servicer shall calculate all items in clauses (i) - (xxiv) above. To the extent that there are inconsistencies between the telecopy of the Trustee’s 's Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer and the Trustee shall furnish to each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Funding Corp /De/)
Statements. (a) Not later than 12:00 noon California time 11:00 a.m., Illinois time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Trustee Securities Administrator by electronic means a computer tape file containing the information set forth on Exhibit D as to each Mortgage Loan called for by clauses (i) through (xxvi) below as of such the end of the preceding Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination 4:00 p.m., New York time, three Business Days prior to each Distribution Date, the Trustee Securities Administrator shall deliver to the Servicer, the Depositor Trustee and to the Certificate Insurer, Seller by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a confirmation of the items in clause (i) below. Not later than two Business Days prior to each Distribution Date the Securities Administrator shall deliver to the Trustee a statement (the “Trustee’s "Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the information furnished by the Servicer upon which the Securities Administrator and the Trustee shall conclusively rely without independent verification or calculation thereof:
(i) The Group 1 and Group 2 the Available Funds for each Certificate Group and each Class' Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest for each Loan Group paid as principal;
(vi) the Servicing Fee;
(vii) the Loan Group Balance of each Loan Group and the Pool Balance, in each case as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof;
(xi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, Loan Group that were the subject of Principal Prepayments during the Due Period;
(ivxii) The the amount of all Curtailments in each Loan Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for in each Loan Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments in each Loan Group received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The for each Certificate Group, the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xixvi) The the amount to be distributed to the Class P, Class BIO and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Loan Group and the weighted average Loan Rate in each Groupas of the first day of the month prior to the Distribution Date;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Loan Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for Loan Losses and the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) for each Loan Group, as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) any LIBOR Carryover distributed and any remaining LIBOR Carryover;
(xxiii) The Class A-2 Available Funds Carryforwardfor each Loan Group, if anythe number and aggregate Principal Balance of Mortgage Loans, after giving effect to all distributions on such Distribution Dateother than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period;
(xxiv) The the amount of Net Rate Cap Carryover distributed to the Class Interest Carryover Shortfall relating to A-6F Certificates and each Class of Class A Subordinate Certificates and the Class Aamount of Net Rate Cap Carryover remaining for each such Class;
(xxv) for each Pre-IO CertificatesFunding Distribution Date, separately stating the amount that is allocable to each such Class and remaining in the amount allocable to interest and principalInitial Coverage Account; and
(xxvxxvi) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying for each Pre-Funding Distribution Date, the details thereofremaining Allocated Pre-Funded Amount. The Trustee shall make forward such report available to the Servicer, the DepositorSeller, the Certificateholders, the Certificate InsurerRating Agencies, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇ ▇▇▇▇▇▇) and Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Securities Administrator and the Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. The Servicer shall calculate all items in clauses (i) - (xxvi) above. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Securities Administrator or the Trustee or and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Servicer, the Securities Administrator and the Trustee shall furnish to each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; provided that the Servicer, the Securities Administrator and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Funding Home Equity Loan Tr 1999-2 Home Equ Loan Ass B)
Statements. Not (a) No later than 12:00 noon California time on the fourth Business Day following the last day of a Due Periodeach Determination Date, the Servicer shall deliver to the Indenture Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Dateby facsimile, the Trustee receipt and legibility of which shall deliver to the Servicerbe confirmed by telephone, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on no later than one (1) Business Day after such Determination Date, the succeeding Servicer's Monthly Remittance Report, setting forth the date of such Report (day, month and year), the name of the Issuer (i.e. "DiTech Home Loan Owner Trust 1997-1"), the Series designation of the Notes (i.e. "Series 1997-1") and the date of this Agreement, all in substantially the form set out in Exhibit B hereto. Furthermore, no later than each Determination Date, the Servicer shall deliver to the Indenture Trustee a magnetic tape or computer disk providing such information regarding the Servicer's activities in servicing the Home Loans during the related Due Period as the Indenture Trustee may reasonably require.
(b) On each Distribution Date, Indenture Trustee shall distribute, based on information provided by the Servicer, a monthly statement (the “Trustee’s Remittance Report”"Distribution Statement") containing the information set forth below (to the extent any such information to be delivered by Depositor, the Servicer pursuant to Owner Trustee, the first sentence Securityholders and the Rating Agencies, stating the date of original issuance of the Notes (day, month and year), the name of the Issuer (i.e. "DiTech Home Loan Owner Trust 1997-1"), the Series designation of the Notes (i.e., "Series 1997-1"), the date of this Section 5.01(a) has been so delivered) with respect to such Distribution DateAgreement and the following information:
(i) The Group 1 the Available Collection Amount and Group 2 Available Funds and each Certificate Rate Distribution Amount for the related Distribution Date;
(ii) The the Class Principal Balance of each Class of Class A Certificates Notes before and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to distributions made to the distribution to be made holders of such Notes on the such Distribution Date;
(xiii) The weighted average remaining term to maturity , and the Pool Principal Balance as of the Mortgage Loans in each Group first and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end last day of the related Due Period;
(xxiiii) The amount on deposit in the Class Factor with respect to each sub-account Class of the Spread Account after Notes then outstanding;
(iv) the amount of principal, if any, and interest to be distributed to each Class of Notes on the related Distribution Date;
(xxiiv) The amount with respect to each Class of losses experienced on Notes, the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Optimal Principal BalanceBalance thereof;
(xxiiivi) The Class A-2 Available Funds Carryforwardthe Overcollateralization Deficiency Amount, if any, after giving effect and any amount to all distributions be distributed to the Noteholders or the holders of the Residual Interest on such Distribution Date;
(xxivvii) The amount the Servicing Compensation, the Indenture Trustee Fee, the Owner Trustee Fee and, the Custodian Fee, if any, for such Distribution Date;
(viii) the Overcollateralization Amount on such Distribution Date, the Overcollateralization Target Amount as of Class Interest Carryover Shortfall relating to each Class such Distribution Date, the Net Loan Losses incurred during the related Due Period, the cumulative Net Loan Losses as of Class A Certificates such Distribution Date, the Allocable Loss Amount for such Distribution Date and the Class A-IO Certificates, separately stating application of the amount that is allocable to each Allocable Loss Amount Priority for such Class Distribution Date;
(ix) the weighted average maturity of the Home Loans and the amount allocable weighted average Home Loan Interest Rate of the Home Loans;
(x) certain performance information, including, without limitation, delinquency and foreclosure information with respect to interest the Home Loans and principal60-Day Delinquency Amounts (as defined in the definition of "Six-Month Rolling Delinquency Average" in Section 1.01 hereof), as set forth in the Servicer's Monthly Remittance Report;
(xi) the number of and aggregate Principal Balance of all Home Loans in foreclosure proceedings and the percent of the aggregate Principal Balances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the last day of the related Due Period;
(xii) the number of and the aggregate Principal Balance of the Home Loans in bankruptcy proceedings and the percent of the aggregate Principal Balances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the last day of the related Due Period;
(xiii) the number of Foreclosure Properties, the aggregate Principal Balance of the related Home Loans, the book value of such Foreclosure Properties and the percent of the aggregate Principal Balances of such Home Loans to the aggregate Principal Balances of all Home Loans, all as of the close of business on the last day of the related Due Period;
(xiv) during the related Due Period (and cumulatively, from the Closing Date through the most current Due Period), the number and aggregate Principal Balance of Home Loans for each of the following: (A) that became Defaulted Home Loans, (B) that became Liquidated Home Loans, (C) that became Deleted Home Loans pursuant to Section 3.05 hereof as a result of such Deleted Home Loans being Defective Home Loans, and (D) that became Deleted Home loans pursuant to Section 3.05 hereof as a result of such Deleted Home Loans being Defaulted Home Loans or a Home Loan in default or imminent default, including the foregoing amounts by loan type (i.e., Combination Loans, or Debt Consolidation Loans);
(xv) the scheduled principal payments and the principal prepayments received with respect to the Home Loans during the Due Period and the cumulative principal prepayment received since the Cut-off Date;
(xvi) the number and aggregate Principal Balance of Home Loans that were 30, 60 or 90 days Delinquent as of the close of business on the last day of the related Due Period; and
(xxvxvii) Whether the aggregate Principal Balance of each Loan which has become a Servicer Termination Delinquency Event Liquidated Loan since the Cut-Off Date, also expressed as a percentage Pool Principal Balance. In the case of information furnished to Securityholders pursuant to subclause (b)(iv) of this Section 6.01, the amounts shall be expressed as a dollar amount per Note with a $1,000 Denomination. All reports prepared by the Indenture Trustee of the withdrawals from and deposits into the Collection Account will be based in whole or a Servicer Termination Loss Event has occurred and specifying in part upon the details thereof. The information provided to the Indenture Trustee shall make such report available to by the Servicer, and the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Indenture Trustee may fully rely upon and shall have no liability with respect to such information provided by the Servicer. To .
(c) Within a reasonable period of time after the extent end of each calendar year, the Indenture Trustee shall prepare and distribute to each Person that there are inconsistencies between at any time during the telecopy calendar year was a Securityholder such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclause (b)(iv) of this Section 6.01, aggregated for such calendar year or applicable portion thereof during which such Person was a Securityholder.
(d) On each Distribution Date, the Indenture Trustee shall forward to the holders of the Trustee’s Remittance Report Residual Interest Certificates a copy of the Distribution Statement in respect of such Distribution Date and a statement setting forth the hard copy issued upon request amounts actually distributed to such holders of the Residual Interest Certificates on such Distribution Date, together with such other information as the Indenture Trustee deems necessary or appropriate.
(e) Within a reasonable period of time after the end of each calendar year, the Indenture Trustee shall prepare and distribute to each Person that at any time during the calendar year was a holder of Residual Interest Certificates, if requested in writing by such Person, a statement containing the information provided pursuant to the preceding paragraphprevious paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a holder of Residual Interest Certificates.
(f) thereofThe Indenture Trustee shall forward to each Noteholder and each holder of a Residual Interest Certificate, during the Servicer may rely upon term of this Agreement, such periodic, special or other reports, including information tax returns or reports required with respect to the latter. In Notes and the Residual Interest Certificates, as shall be necessary, reasonable, or appropriate with respect to the Noteholders or the holders of Residual Interest Certificates, or otherwise with respect to the purposes of this Agreement, all such reports or information in the case of information the Residual Interest Certificates to be provided by and in accordance with such applicable instructions and directions as the Majority Residual Interestholders may reasonably require.
(g) Reports and computer tapes furnished by the Servicer and the Indenture Trustee pursuant to subclauses (ii) and (ix) above, the amounts this Agreement shall be expressed deemed confidential and of a proprietary nature and shall not be copied or distributed except in a separate section connection with the purposes and requirements of this Agreement. No Person entitled to receive copies of such reports or tapes shall use the information therein for the purpose of soliciting the customers of the report Depositor or the Servicer or for any other purpose except as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Dateset forth in this Agreement.
Appears in 1 contract
Sources: Sale and Servicing Agreement (Ditech Funding Corp Home Loan Owner Trust 1997-1)
Statements. (a) Not later than 12:00 noon California time 1:00 p.m., New York time, on the fourth fifth Business Day following the last day of a Due Periodprior to each Distribution Date, the Servicer shall deliver to the Master Servicer and the Trustee by electronic means and to the Certificate Insurer via e-mail at rmgtapes@fsa.com, a computer tape containing file co▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇n level information necessary to permit the Trustee to calculate the information set forth on Exhibit D as to each Mortgage Loan required by clauses (i) through (xxv) below as of such the end of the preceding Prepayment Period or Due Period Period, as applicable, and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination 4:00 p.m., New York time, three Business Days prior to each Distribution Date, the Trustee shall deliver to the Depositor, the Servicer, the Depositor and to Master Servicer, the Certificate Insurer, Insurer and the Seller by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a confirmation of the items in clause (i) below. Not later than each Distribution Date the Trustee shall prepare a statement (the “Trustee’s "Remittance Report”") containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date, which information shall be based upon the loan level information furnished by the Servicer upon which the Trustee shall conclusively rely without independent verification thereof:
(i) The Group 1 and Group 2 Available Funds and each Class' Certificate Rate for the related Distribution Date;
(ii) The the aggregate amount of the distribution to each Class of Certificates on such Distribution Date;
(iii) the amount of the distribution set forth in paragraph (i) above in respect of interest and the amount thereof in respect of any Class Interest Carryover Shortfall, and the amount of any Class Interest Carryover Shortfall remaining;
(iv) the amount of the distribution set forth in paragraph (i) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall;
(v) the amount of Excess Interest paid as principal and the allocation thereof among the classes of Certificates;
(vi) the Servicing Fee, the Premium Amount and the Reimbursement Amount;
(vii) the Pool Balance as of the close of business on the last day of the preceding Due Period;
(viii) the Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant after giving effect to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Grouppayments allocated to principal above;
(iiiix) The the Overcollateralization Amount, the Required Overcollateralization Amount and the Subordination Required Overcollateralization Amount as of the close of business on the Distribution Date, after giving effect to distributions of principal on such Distribution Date;
(x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof;
(xi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(ivxii) The the amount of all Curtailments in each Group that were received during the Due Period;
(vxiii) The the principal portion of all Monthly Payments for each Group received during the Due Period;
(vixiv) The amount the interest portion of interest all Monthly Payments received on the Mortgage Loans in each Groupduring the Due Period;
(viixv) The the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date included in Available Funds for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the such Distribution Date;
(xixvi) The the amount to be distributed to the Class BIO, Class P and Class R Certificateholders Certificateholders, respectively for the Distribution Date;
(xiixvii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Groupas of the first day of the month prior to the Distribution Date;
(xivxviii) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
Sections 3.03(ii) and (xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01vi);
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxixx) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses Liquidation Loan Losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group Cumulative Net Losses as a percentage of the related Cut-Off Date Pool Balance;
(xxi) as of the end of the preceding calendar month, the number and Principal BalanceBalance of Mortgage Loans which are 30-59 days Delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days Delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days Delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth);
(xxii) [Reserved];
(xxiii) The Class A-2 Available Funds Carryforwardthe number and aggregate Principal Balance of Mortgage Loans, if anyother than Mortgage Loans in default or imminent default, after giving effect to all distributions on such Distribution Datethat were modified by the Servicer during the related Due Period;
(xxiv) The the amount of Class Interest Net Rate Cap Carryover Shortfall relating distributed to each Class of Class A Certificates and Offered Certificates, other than the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalof Net Rate Cap Carryover remaining for each such Class; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereofamount of the Insured Payments, if any, to be made on such Distribution Date. The Trustee shall make available such report available to the Master Servicer, the Servicer, the DepositorSeller, the CertificateholdersDepositor, the Certificate Insurer, the Certificateholders, the Rating Agencies and Agencies, Bloomberg (at 499 Park Avenue, New York, New York ▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇▇: ▇▇▇▇ ▇▇▇▇▇▇, ) ▇▇▇ ▇▇▇▇, ▇ Solutions (at ▇▇ ▇▇▇ ▇▇▇▇▇d Circle, Needham, Massach▇▇▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇: ▇▇▇▇▇.▇▇.▇ ▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇▇▇) ▇▇ ▇▇-▇ Distribution ▇▇▇▇. Parties ; ▇▇▇▇▇▇▇▇, however, that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward remove from the report the Premium Amount to be paid to the Certificate Insurer prior to the submission to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Dateand Intex Solutions. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (ixvi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. The Trustee will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Certificateholders, and the parties to this Agreement via the Trustee's internet website. The Trustee's internet website shall initially be located at "www.ctslink.com". Assistance in usin▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇an be obtained by calling the Trustee's customer service desk at (301) 815-6600. Parties that are una▇▇▇ ▇▇ ▇▇▇ ▇▇▇ above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Remittance Reports are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes.
(b) Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Regular Certificate, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information set forth in subclauses (iii) and (iv) above, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared and furnished by the Trustee to Certificateholders pursuant to any requirements of the Code as are in force from time to time.
(c) On each Distribution Date, the Trustee shall forward to the Class R Certificateholders a copy of the reports forwarded to the Holders of the Regular Certificates in respect of such Distribution Date and a statement setting forth the amounts actually distributed to the Class R Certificateholders on such Distribution Date together with such other information as the Trustee deems necessary or appropriate.
(d) Within a reasonable period of time after the end of each calendar year, the Trustee shall deliver to each Person who at any time during the calendar year was a Class R Certificateholder, if requested in writing by such Person, such information as is reasonably necessary to provide to such Person a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R Certificateholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be prepared by the Trustee or and furnished to Certificateholders by the Trustee pursuant to any requirements of the Code as from time to time in force.
(e) The Master Servicer, the Servicer and the Trustee shall furnish to the Certificate Insurer, the Depositor, the Seller and each Certificateholder (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Certificateholder or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Certificateholder may reasonably require; PROVIDED that the Master Servicer, the Servicer and the Trustee shall be entitled to be reimbursed by such Certificateholder for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable.
(f) Reports and computer diskettes or files furnished by the Master Servicer or the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent required by law or to the Rating Agencies. No Person entitled to receive copies of such reports or diskettes or files or lists of Certificateholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Asset Se Cp Soundview Hm Eq Ln as Bk Cer Se 2001-1)
Statements. Not later A reasonably detailed statement (the "Statement") of the Direct Expenses actually payable by Tenant shall be given to Tenant within one hundred eighty (180) days after the end of each calendar year or as soon thereafter as practicable. If Tenant's Percentage Share of any Direct Expenses as shown on such Statement is greater or less than 12:00 noon California time the total amount actually paid by Tenant during the calendar year covered by such Statement, then within thirty (30) days thereafter, Tenant shall pay in cash any sums owed to Landlord or, if applicable, Tenant shall receive a credit against any Rent next accruing for any sum owed Tenant. If, as of the thirtieth (30th) day after delivery to Tenant of a Statement, Tenant shall not have delivered to Landlord an Objection Notice (as defined below), then such Statement shall be final and binding upon Landlord and Tenant, and Tenant shall have no further right to object to such Statement. If within such thirty (30) day period, Tenant delivers to Landlord a written statement specifying objections to such Statement (an "Objection Notice"), then Tenant and Landlord shall meet to attempt to resolve such objection within thirty (30) days after delivery of the Objection Notice. Landlord shall provide access for Tenant to review its pertinent records, during the thirty (30) day period after delivery to Tenant of a Statement, during regular business hours in Landlord's management office for the Building. Notwithstanding that any such dispute remains unresolved, Tenant shall be obligated to pay Landlord all Rent payable in accordance with this Lease (including any disputed amount). If such dispute results in an agreement that Tenant is entitled to a refund, Landlord shall, at its option, either pay such refund or credit the amount thereof to the Basic Monthly Rent next becoming due from Tenant. The failure or delay by Landlord to provide Tenant with Landlord’s estimate of Tenant’s Percentage Share of Direct Expenses or a Statement for any calendar year shall not constitute a default by Landlord hereunder, or a waiver by Landlord of Tenant’s obligation to pay Tenant’s Percentage Share of Direct Expenses for such calendar year or of Landlord’s right to send to Tenant such an estimate or Statement, as the case may be. If the Term of this Lease expires or is terminated on the fourth Business Day following a day other than the last day of a Due Periodcalendar year, the Servicer amount of Direct Expenses payable by Tenant during the calendar year in which the Term expires or is terminated shall deliver be prorated on the basis which the number of days from the commencement of the calendar year to and including the date on which the Term expires or is terminated bears to three hundred sixty-five (365). Within one hundred twenty (120) days following expiration of the calendar year in which the Term expired or terminated, or as soon thereafter as practicable, Landlord shall give a final Statement to Tenant for such calendar year ("Final Statement"). If Tenant's share of any Direct Expenses as shown on the Final Statement is greater or less than the total amounts of Direct Expenses actually paid by Tenant during the calendar year covered by the Final Statement, then within thirty (30) days thereafter the appropriate party shall pay to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent party any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇sums owed.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
Appears in 1 contract
Sources: Office Lease (Looksmart LTD)
Statements. Not later than 12:00 noon California time on Tenant shall furnish the fourth Business Day following statements to Landlord:
(a) Tenant shall, as soon as available and in any event within one hundred twenty (120) days after the last day end of each Fiscal Year, provide to Landlord annual audited financial statements of Tenant and any Guarantor that is not an individual or trust for such Fiscal Year and certified annual financial statements of individual or trust Guarantors for such Fiscal Year, including therein the balance sheets of Tenant and Guarantors, as applicable, as of the end of such Fiscal Year and statements of earnings and statements of cash flow of Tenant and Guarantors for such Fiscal Year, in each case certified in a Due Periodmanner acceptable to Landlord by independent certified public accountants of recognized national standing selected by Tenant and reasonably acceptable to Landlord (the form of such certification to be reasonably satisfactory to Landlord), the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D prepared in accordance with GAAP as to Tenant and any Guarantor that is not an individual or trust, except as otherwise noted therein, on a basis consistent with prior periods and fairly presenting the financial condition of Tenant and Guarantors at the end of such Fiscal Year and the immediately preceding Fiscal Year and in comparative columnar form.
(b) Tenant shall, as soon as available and in any event within forty-five (45) days after the end of each Mortgage Loan Quarter, provide to Landlord quarterly financial statements of the Tenant for such Quarter, including therein the balance sheets of Tenant and Guarantors as of the end of such Due Period Quarter, and statements of earnings and statements of cash flow of Tenant and Guarantors for such Quarter, in each case certified in a manner acceptable to Landlord by such entity’s chief accounting officer as being prepared in accordance with GAAP as to Tenant and any Guarantor that is not an individual or trust, except as otherwise noted therein, and that such quarterly financial statements fairly present to financial condition of Tenant and Guarantors as of the end of such Quarter and year-to-date.
(c) within thirty (30) days after the end of each month of each Fiscal Year (including the twelfth month of each Fiscal Year), a “balance sheet” and statements of revenues and expenses for the Premises, all prepared by Tenant’s management in accordance with GAAP, but without footnotes, except as otherwise noted therein, on a basis consistent with prior periods, and fairly presenting the financial condition of the Premises’ operation; without limiting the foregoing, such statements shall include a table of Occupants by payor source and shall include such other information as may reasonably be requested by Landlord.
(d) with the Trustee shall reasonably require. Not later than 12:00 noon California time statements submitted pursuant to subsections (a) and (b) of this Section, a certificate signed on behalf of Tenant by the Determination Date, the Trustee shall deliver principal financial or accounting officer of Tenant to the Servicereffect that no Event of Default specified herein nor any event which, upon notice or with the Depositor passage of time or both, would constitute such an Event of Default has occurred and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) belowis continuing, or, in each case, if any such Event of Default or event has occurred and is continuing, specifying the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates nature and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Groupextent thereof;
(iiie) The number semi-annually, summary reports of Tenant’s inpatient/outpatient volume statistics and Principal Balances list of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalmedical staff; and
(xxvf) Whether a Servicer Termination Delinquency promptly, from time to time, such other information regarding the operations, business affairs and financial condition of Tenant as Landlord may reasonably request, including, without limitation, prompt notice of any Event of Default or a Servicer Termination Loss any event which, with the passage of time or the giving of notice, or both, would constitute an Event has occurred of Default and specifying prompt notice of any action, suit or proceeding at law or in equity or by or before any governmental instrumentality or other agency which, if adversely determined, would materially adversely affect Tenant’s or the details thereof. The Trustee shall make such report available to the ServicerPremises’ business, the Depositoroperations, the Certificateholdersproperties, the Certificate Insurerassets or condition, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇financial or otherwise.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
Appears in 1 contract
Sources: Lease (Global Medical REIT Inc.)
Statements. Not later than 12:00 noon California time on Tenant shall furnish the fourth Business Day following the last day of a Due Period, the Servicer shall deliver statements to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement (the “Trustee’s Remittance Report”) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution DateLandlord:
(ia) The Group 1 Tenant shall, as soon as available and Group 2 Available Funds in any event within one hundred twenty (120) days after the end of each Fiscal Year, provide to Landlord annual audited financial statements of Guarantor and Tenant for such Fiscal Year, including therein the balance sheets of Guarantor and Tenant as of the end of such Fiscal Year and statements of earnings and statements of cash flow of Guarantor and Tenant for such Fiscal Year, in each Certificate Rate for case certified in a manner acceptable to Landlord by independent certified public accountants of recognized national standing selected by Tenant and reasonably acceptable to Landlord (the related Distribution Date;form of such certification to be reasonably satisfactory to Landlord), prepared in accordance with GAAP, except as otherwise noted therein, on a basis consistent with prior periods and fairly presenting the financial condition of Guarantor and Tenant at the end of such Fiscal Year and the immediately preceding Fiscal Year and in comparative columnar form.
(iib) The Class Principal Balance Tenant shall, as soon as available and in any event within forty-five (45) days after the end of each Class Quarter, provide to Landlord quarterly financial statements of Class A Certificates the Tenant for such Quarter, including therein the balance sheets of Guarantor and Tenant as of the Notional Balance end of such Quarter, and statements of earnings and statements of cash flow of Guarantor and Tenant for such Quarter, in each case certified in a manner acceptable to Landlord by such entity’s chief accounting officer as being prepared in accordance with GAAP, except as otherwise noted therein, and that such quarterly financial statements fairly present to financial condition of each Class of Class A-IO Certificates Guarantor and the Aggregate Principal Balance Tenant as of the Mortgage Loans in each Group as reported in end of such Quarter and year-to-date.
(c) with the prior Trustee’s Remittance Report statements submitted pursuant to subclause Subsections (xiia) belowand (b) of this Section, a certificate signed on behalf of Tenant by the principal financial or accounting officer of Tenant to the effect that no Event of Default specified herein nor any event which, upon notice or with the passage of time or both, would constitute such an Event of Default has occurred and is continuing, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Groupcase, if anyany such Event of Default or event has occurred and is continuing, to be paid on specifying the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates nature and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principalextent thereof; and
(xxvd) Whether a Servicer Termination Delinquency promptly, from time to time, such other information regarding the operations, business affairs and financial condition of Tenant as Landlord may reasonably request, including, without limitation, prompt notice of any Event of Default or a Servicer Termination Loss any event which, with the passage of time or the giving of notice, or both, would constitute an Event has occurred of Default and specifying prompt notice of any action, suit or proceeding at law or in equity or by or before any governmental instrumentality or other agency which, if adversely determined, would materially adversely affect Tenant’s or the details thereof. The Trustee shall make such report available to the ServicerPremises’ business, the Depositoroperations, the Certificateholdersproperties, the Certificate Insurerassets or condition, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇financial or otherwise.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
Appears in 1 contract
Sources: Lease (Global Medical REIT Inc.)
Statements. (a) Not later than 12:00 noon California a.m. New York time on the fourth Business Day following the last day of a Due Period, the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Distribution Date, the Trustee shall deliver to the Servicer, the Depositor and the Seller by electronic transmission in the format specified in Exhibit K (unless otherwise agreed to by the Certificate Insurer, by telecopyparties hereto), with a hard copy thereof to be delivered on the succeeding such Distribution Date, a statement (the “"Trustee’s 's Remittance Report”") (based solely on the computer or electronic Servicing Certificate for such Distribution Date provided pursuant to Section 4.1 other than the information contained in subclause (xxv) hereof) containing the information set forth below (to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance principal balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Loan Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s 's Remittance Report pursuant to subclause (xii) belowReport, or, in the case of the first Determination Date, the Original Class Certificate Principal Balance of each Class of Class A Certificates Class, and the Original Notional Balance of each Class of Class A-IO Certificates and the related Initial Cut-Off Date Principal Balance Aggregate Loan Balance;
(ii) The aggregate amount of collections received on the Mortgage Loans on or prior to the Determination Date in each Grouprespect of the preceding Collection Period, separately stating the amounts received in respect of principal and interest and reporting separately, the amounts received in respect of scheduled principal payments and the amounts representing Principal Prepayments;
(iii) The number and Principal Balances of all Mortgage Loans and of amount repaid by the Mortgage Loans in each GroupSeller pursuant to Sections 2.2, that were the subject of Principal Prepayments during the Due Period2.6 or 2.7;
(iv) The amount of all Curtailments in each Group that were received during the Due PeriodMonthly Advances to be made with respect to such Distribution Date and the amount of outstanding Monthly Advances on such Distribution Date prior to any reimbursement to be made on such Distribution Date; the amount by which the aggregate Compensating Interest for such Distribution Date exceeds the available Monthly Excess Cashflow Amount for such Distribution Date and the amount by which such remaining Compensating Interest exceeds the Servicing Fee for such Distribution Date;
(v) The principal portion amount of all Monthly Payments for each Group received during Special Hazard Coverage available to the Due Period;Senior Certificates remaining as of the close of business on the applicable Determination Date.
(vi) The amount of interest received Bankruptcy Coverage available to the Certificateholders remaining as of the close of business on the Mortgage Loans in each Groupapplicable Determination Date;
(vii) The amount of Fraud Coverage available to the Monthly Advances and Certificateholders remaining as of the Compensating Interest payment to be made close of business on the applicable Determination Date for each Group;Date; and
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiiiix) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each GroupRate;
(xivx) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01Fee;
(xvxi) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.033.3;
(xvixii) The Pool Factor for amount of Realized Losses incurred in respect of each Loan Group determined using allocable to the balances related Certificates on the related Distribution Date and the cumulative amount of Realized Losses incurred in subclause (ii) above;respect of each Loan Group allocated to such Certificates since the Initial Cut-Off Date.
(xviixiii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;[RESERVED]
(xviiixiv) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;[RESERVED]
(xixxv) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);[RESERVED]
(xxxvi) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Collection Period;
(xvii) The amount on deposit in the Pre-Funding Account and the Capitalized Interest Account after such Distribution Date;
(xviii) The aggregate Liquidation Loss Amount and the related number of Mortgage Loans (reporting separately, sales of Mortgage Loans and foreclosures on Mortgage Loans), if any, for the preceding Collection Period, the cumulative Total Losses and the Rolling Three Month Delinquency Rate;
(xix) The Aggregate Loan Balance, as of the end of the Collection Period related to such Distribution Date;
(xx) The number and aggregate Loan Balances of Mortgage Loans (w) as to which the Monthly Payment is delinquent for 30-59 days, 60-89 days and 90 or more days, respectively (including Mortgage Loans in foreclosure and REO and any Mortgage Loan if the related Mortgagor is subject to an Insolvency Event), (x) that have become REO, in each case as of the end of the preceding Collection Period, (y) that are in foreclosure, and (z) the Mortgagor of which is the subject of any bankruptcy or insolvency proceeding;
(xxi) The unpaid principal amount on deposit in each sub-account of the Spread Account after the Distribution Dateall Mortgage Loans that became Liquidated Mortgage Loans during such Collection Period;
(xxii) The amount loan number and principal balance as of losses experienced the close of business on the Distribution Date in such month and the date of acquisition thereof of such Mortgage Loans in each Group that become REO during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal BalanceCollection Period;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on Net Liquidation Proceeds received during such Distribution DateCollection Period;
(xxiv) The amount Valuation of Class Interest Carryover Shortfall relating to each Class any real estate acquired through foreclosure or grant of Class A Certificates and a deed in lieu of foreclosure as of the Class A-IO Certificates, separately stating close of business on the amount that is allocable to each such Class and last Business Day of the amount allocable to interest and principalprevious Collection Period; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred The remaining Pre-Funded Amount, if any, the Pre- Funding Amount Earnings, the balance of the Capitalized Interest Account, if any, and specifying the details thereofOverfunded Interest Amount, if any. The Trustee shall make forward such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) Certificateholders on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (First Union Residential Securitization Transactions Inc)
Statements. Not later than 12:00 noon California time (a) For each month during the Term, JCP&L shall prepare and present to NJEA, on or before the fourth Business Day following the last twentieth (20th) day of a Due Period, the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Datesubsequent month, a statement (in $/kWh) for Contract Energy and Capacity delivered to JCP&L during such month in accordance with Article 4 hereof. Such statement shall indicate (1) the “Trustee’s Remittance Report”total MWhs of Contract Energy and Capacity delivered or supplied during the month, (2) containing the information set forth below calculation of the Energy Price for such Contract Energy and any Delivery Point Adjustment applicable in respect of such month pursuant to Section 3.8(f) hereof and (3) any applicable credits or amounts payable to either Party pursuant to Sections 3.6, 3.7, 4.1, and 5.2 hereof or any other provision of this Agreement. All invoices and statements for amounts payable by one Party to the extent other Party under this Agreement shall be in $/kWh.
(b) On or before the fifteenth (15th) day following the end of each month during the Term, NJEA shall provide written notice to JCP&L of the amount of Contract Energy delivered to JCP&L hereunder during the preceding month that was delivered from sources other than the Facility. On or before the fifteenth (15th) day following the end of each calendar year during the Term (or partial calendar year, as applicable), NJEA shall provide written notice to JCP&L of the amount of Contract Energy delivered to JCP&L hereunder during the preceding calendar year (or partial calendar year, as applicable) that was delivered from sources other than the Facility. If for any such information to be delivered calendar year (including, without limitation, the first and last partial calendar years of the Term) the product of the JCP&L Discount multiplied by the Servicer pursuant number of MWhs of Contract Energy delivered to JCP&L hereunder during such calendar year (or partial calendar year, as applicable) by or on behalf of NJEA from sources other than the first sentence of this Section 5.01(a) has been so delivered) with respect to Facility is greater than the Minimum Energy Price Discount for such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate calendar year, then such difference shall be deducted from the amount payable by JCP&L hereunder for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, next succeeding month or in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance last year of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each GroupTerm, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each Group, if any, to be paid on the Distribution Date;
(xi) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of Term invoice for Contract Energy delivered for the related Due Period;
(xxi) The amount on deposit in each sub-account last month of the Spread Account after the Distribution Date;
Term (xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as which month could be a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event full or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇partial calendar month).▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
Appears in 1 contract
Sources: Power Purchase Agreement (Esi Tractebel Acquisition Corp)
Statements. (i) Not later than 12:00 noon California time on the fourth Business Day following the last day of a Due Period, the Servicer shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Distribution Date, the Trustee shall deliver prepare and make available to each Holder of Certificates, the Master Servicer, the Swap Provider and the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, a statement setting forth for the Certificates:
(ii) the “Trustee’s Remittance Report”) containing the information set forth below applicable record dates, accrual periods, determination dates for calculating distributions and general distribution dates;
(to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so deliverediii) with respect to each Loan Group, the total cash flows received and the general sources thereof;
(iv) the amount, if any, of fees or expenses accrued and paid, with an identification of the payee and the general purpose of such fees including the related amount of the Servicing Fees paid to or retained by the Master Servicer for the related Due Period;
(v) with respect to each Loan Group, the amount of any Net Swap Payment payable to the trust with respect to the related Loan Group, any related Net Swap Payment payable to the related Swap Provider, any Swap Termination Payment payable to the trust with respect to the related Loan Group and any Swap Termination Payment payable to the Swap Provider;
(vi) with respect to each Loan Group, the amount of the related distribution to Holders of each Class allocable to principal, separately identifying (A) the aggregate amount of any Principal Prepayments included therein, (B) the aggregate of all scheduled payments of principal included therein and (C) the Extra Principal Distribution Amount (if any);
(vii) with respect to each Loan Group, the amount of such distribution to Holders of each Class allocable to interest and the portion thereof, if any, provided by the related Interest Rate Swap Agreement and the related Yield Maintenance Agreement and the amount of coverage remaining under either credit enhancement with respect to each Loan Group;
(viii) with respect to each Loan Group, the Interest Carry Forward Amounts and any Basis Risk Shortfall Carry Forward Amounts for each Class of Certificates (if any);
(ix) the Pass-Through Rate for each Class of Certificates with respect to the current Accrual Period, and, if applicable, whether such Pass-Through Rate was limited by the Net Rate Cap;
(x) with respect to each Loan Group, the number and the aggregate of the Stated Principal Balance of (A) all of the Mortgage Loans and (B) the Adjustable Rate Mortgage Loans, for the following Distribution Date:, together with updated pool composition information;
(xi) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class before and after giving effect (i) The Group 1 to all distributions allocable to principal on such Distribution Date and Group 2 Available Funds and each Certificate Rate (ii) the allocation of any Applied Realized Loss Amounts for the related such Distribution Date;
(iixii) The Class Principal Balance of each Class of Class A Certificates the number and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group (A) Delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, (B) in foreclosure and delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent and (C) in bankruptcy and delinquent (1) 30 days Delinquent, (2) 60 days Delinquent and (3) 90 days or more Delinquent, in each case as reported of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group;
(xiii) with respect to each Loan Group, the amount of, if any, of excess cashflow or excess spread and the application of such excess cashflow;
(xiv) with respect to each Loan Group, the aggregate amount of Advances included in the prior Trustee’s Remittance Report pursuant distribution on such Distribution Date (including the general purpose of such Advances), the aggregate amount of unreimbursed Advances at the close of business on the Distribution Date, and the general source of funds for reimbursements;
(xv) with respect to subclause (xii) beloweach Loan Group, or, in the case cumulative amount of Applied Realized Loss Amounts through the end of the first Determination Datepreceding month;
(xvi) with respect to each Loan Group and if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time;
(xvii) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the Original Class Certificate loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date;
(xviii) with respect to each Class Loan Group, the aggregate Stated Principal Balance of, and Realized Loss on, such Mortgage Loans as of Class A Certificates and the Original Notional Balance end of each Class of Class A-IO Certificates and the related Cut-Off Date Prepayment Period;
(xix) with respect to each Loan Group, the total number and principal balance of any real estate owned or REO Properties as of the end of the related Prepayment Period;
(xx) with respect to each Loan Group, the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans in each Group;
(iii) The number such Loan Group that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balances Balance of all Mortgage Loans and of the Mortgage Loans in each such Loan Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during case as of the Due Period;
(v) The principal portion close of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received business on the Mortgage Loans in each Group;
(vii) The amount last day of the Monthly Advances calendar month preceding such Distribution Date and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure separately identifying such information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x1) The amount of the Insured Amounts for each Groupfirst lien Mortgage Loans, if any, to be paid on the Distribution Date;
and (xi2) The amount to be distributed to the Class R Certificateholders for the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect to the distribution to be made on the Distribution Date;
(xiii) The weighted average remaining term to maturity of the Adjustable Rate Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due PeriodLoans;
(xxi) The amount on deposit in each sub-account the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the Spread Account after the Distribution Datepreceding month;
(xxii) The amount of losses experienced with respect to each Loan Group, information on loss, delinquency or other tests used for determining early amortization, liquidation, stepdowns or other performance triggers as more completely described in the Mortgage Loans in each Group during prospectus supplement and whether the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balancetrigger was met;
(xxiii) The Class A-2 Available Funds Carryforwardwith respect to each Loan Group, if any, after giving effect to all distributions the amount of the Prepayment Charges remitted by the Master Servicer and the amount on such Distribution Datedeposit in the Reserve Fund;
(xxiv) The amount of Class Interest Carryover Shortfall relating updated pool composition data including the following with respect to each Class Loan Group: average loan balance, weighted average mortgage rate, weighted average loan-to-value ratio at origination, weighted average FICO at originationweighted average remaining term; [NOTE - Item 1121(a)(8) requires updated pool composition information, the foregoing is a suggestion of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable what to provide]
(xxv) with respect to each Loan Group, information regarding any new issuance of securities backed by the same asset pool, any pool asset changes, such Class and as additions or removals of Mortgage Loans from the amount allocable Trust Fund, if applicable;
(xxvi) any material changes in the solicitation, credit-granting, underwriting, origination, acquisition or Mortgage Loan selection criteria or procedures, as applicable, used to interest and principaloriginate, acquire or select Mortgage Loans for the Trust Fund;
(xxvii) with respect to each Loan Group, material breaches of Mortgage Loan representations or warranties or transaction covenants; and
(xxviii) the special hazard amount, fraud loss amount and bankruptcy amount, if applicable, as of the close of business on the applicable distribution date and a description of any change in the calculation of these amounts.
(xxix) The Depositor agrees that there will be no material changes in the solicitation, credit-granting, underwriting, origination, acquisition or Mortgage Loan selection criteria or procedures, as applicable, used to originate, acquire or select Mortgage Loans for the Trust Fund and (xxv) Whether a Servicer Termination Delinquency Event above may be omitted. The Depositor agrees with the Trustee that there will be no new issuance of securities backed by the same asset pool, so the Trustee will only be responsible in (xxiv) above for reporting any pool asset changes, such as additions or a Servicer Termination Loss Event has occurred and specifying removals of Mortgage Loans from the details thereofTrust Fund. The Trustee shall will make such report statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the Servicer, the Depositor, the Certificateholders, the Certificate NIMS Insurer, the Credit Risk Manager and the Rating Agencies and Bloomberg (via the Trustee's internet website. The Trustee's internet website shall initially be located at ▇▇▇ ▇▇▇▇ "▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date/invr". Assistance in using the website can be obtained by calling the Trustee’s investor relations 's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method option are entitled to have a paper copy mailed to them via first class mail by calling the investor relations customer service desk and indicating such. In addition, together with The Trustee shall have the right to change the way such reportstatements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Trustee's internet website, the Trustee shall forward to Bloomberg may require registration and the acceptance of a copy of the computer tape delivered by the Servicer on the Distribution Datedisclaimer. The Trustee may fully will not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall also be entitled to rely upon and on but shall have no liability with respect to not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Servicer. To Distribution Date statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the extent that there are inconsistencies between the telecopy part of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latterany other party thereto). In the case of information furnished pursuant to subclauses (iii) and through (ixiii) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off off Date.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Asset Securities Corp)
Statements. (a) Not later less than 12:00 noon California time on two (2) Business Days prior to the fourth Business Day following the last day of a Due Periodanticipated Closing Date, the Servicer Seller Parent shall deliver to the Trustee a computer tape containing the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate Insurer, by telecopy, with a hard copy thereof to be delivered on the succeeding Distribution Date, Purchaser Parent a statement (the “TrusteeEstimated Closing Date Financial Statement”), signed by the Chief Financial Officer or the Vice President of Finance of the Seller Parent (on behalf and in the name of the Seller Parent), setting forth the Seller Parent’s Remittance Reportgood faith estimate of the Net Working Capital (the “Estimated Working Capital Amount”) containing the information set forth below (). The Seller Parent shall make such changes to the extent any such information to be delivered by the Servicer pursuant to the first sentence of this Section 5.01(a) has been so delivered) with respect to such Distribution Date:
(i) The Group 1 and Group 2 Available Funds and each Certificate Rate for the related Distribution Date;
(ii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report pursuant to subclause (xii) below, or, in the case of the first Determination Date, the Original Class Certificate Balance of each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Estimated Closing Date Principal Balance of the Mortgage Loans in each Group;
(iii) The number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that were the subject of Principal Prepayments during the Due Period;
(iv) The amount of all Curtailments in each Group that were received during the Due Period;
(v) The principal portion of all Monthly Payments for each Group received during the Due Period;
(vi) The amount of interest received on the Mortgage Loans in each Group;
(vii) The amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date for each Group;
(viii) The delinquency and foreclosure information set forth in the form attached hereto as Exhibit L;
(ix) The Remittance Amount for each Class of Class A and Class A-IO Certificates for the Distribution Date with the components thereof stated separately;
(x) The amount of the Insured Amounts for each GroupFinancial Statement, if any, as are reasonably requested by the Purchaser Parent.
(b) Not less than two (2) Business Days prior to the anticipated Closing Date, the Seller Parent shall deliver to the Purchaser Parent a statement (the “Closing Date Indebtedness Statement”), signed by the Chief Financial Officer or the Vice President of Finance of the Seller Parent (on behalf and in the name of the Seller Parent), setting forth, by lender, the aggregate amount of the Indebtedness. The Seller Parent shall attach to the Closing Date Indebtedness Statement copies of the Payoff Letters delivered in accordance with Section 8.1(h).
(c) Not less than two (2) Business Days prior to the anticipated Closing Date, the Seller Parent shall deliver to the Purchaser Parent a statement (the “Closing Date Expense Statement”), signed by the Chief Financial Officer or the Vice President of Finance of the Seller Parent (on behalf and in the name of the Seller Parent), setting forth, by payee, the Change of Control Payments and the Transaction Expenses. The Seller Parent shall attach to the Closing Date Expense Statement documents which confirm that upon payment of the respective amounts specified in such Closing Date Expense Statement, each Person that is to be paid on the Distribution Date;in accordance with such Closing Date Expense Statement shall have been paid in full for all Change of Control Payments and Transaction Expenses, as applicable.
(xid) The amount to be distributed Not less than two (2) Business Days prior to the Class R Certificateholders for anticipated Closing Date, the Distribution Date;
(xii) The Class Principal Balance of each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of each Group, each after giving effect Seller Parent shall deliver to the distribution to be made on Purchaser Parent a statement (the Distribution Date;
(xiii) The weighted average remaining term to maturity “Purchase Price Allocation Percentage Statement”), signed by the Chief Financial Officer or the Vice President of Finance of the Mortgage Loans Seller Parent (on behalf and in each Group and the weighted average Loan Rate in each Group;
(xiv) name of the Seller Parent), setting forth, by Seller, such Seller’s Purchase Price Allocation Percentage. The Servicing Fee for each Group and the amount to be paid Seller Parent shall make such changes to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amountPurchase Price Allocation Percentage Statement, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which as are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered reasonably requested by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off DatePurchaser Parent.
Appears in 1 contract
Sources: Purchase Agreement (University General Health System, Inc.)
Statements. Not Each month for so long as a Class of Auction Rate Certificates is Outstanding, not later than 12:00 noon California New York time on the fourth Business Day following the last day of a Due PeriodAuction Reporting Date, the Servicer shall deliver to the Trustee a computer tape containing Certificate Insurer and the information set forth on Exhibit D as to each Mortgage Loan as of such Due Period and such other information as the Trustee shall reasonably require. Not later than 12:00 noon California time on the Determination Date, the Trustee shall deliver to the Servicer, the Depositor and to the Certificate InsurerTrustee, by telecopy, the receipt and legibility of which shall be confirmed telephonically, with a hard copy thereof to be delivered on the succeeding Distribution Business Day following the Determination Date, a statement certificate signed by a Servicing Officer stating the date (day, month and year), the “Trustee’s Series number of the Certificates, the date of this Agreement, and the amount to be distributed on the upcoming Remittance Report”) containing Date to each Class of Auction Rate Certificates as a payment of principal. Each month, not later than 12:00 noon New York time on the information set forth below (Determination Date, the Servicer shall deliver to the extent any such information Certificate Insurer and to the Trustee, by telecopy, for distribution to the Certificateholders, the receipt and legibility of which shall be confirmed telephonically, with hard copy thereof and the Servicer's Monthly Computer Tape in the form attached hereto as Exhibit R (both in hard copy and in computer tape form) to be delivered on the Business Day following the Determination Date, a certificate signed by a Servicing Officer (a "Servicer's Certificate") stating the Servicer pursuant to date (day, month and year), the first sentence Series number of the Certificates, the date of this Section 5.01(a) has been so delivered) with respect to such Distribution DateAgreement, and the following:
(i) The Group 1 and Group 2 the Pool Available Funds and Remittance Amounts for each Certificate Rate Pool for the related Distribution Remittance Date;
(ii) The the Class Principal Balance of Balances for each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Principal Balance of the Mortgage Loans in each Group as reported in the prior Trustee’s Remittance Report Servicer's Certificate pursuant to subclause (xiixv) below, or, in the case of the first Determination Date, the Original Class Certificate Principal Balance of for each Class of Class A Certificates and the Original Notional Balance of each Class of Class A-IO Certificates and the related Cut-Off Date Principal Balance of the Mortgage Loans in each GroupCertificates;
(iii) The the Pool Principal Distribution Amounts for each Pool for the related Remittance Date, in the aggregate and listed separately for the portions relating to each Class of Class A Certificates;
(iv) the total amount of any Insured Payments included in the Pool Available Remittance Amount for each Pool for the related Remittance Date;
(v) the Subordinated Amount and Specified Subordinated Amount for the related Remittance Date, listed separately for each Pool;
(vi) the number and Principal Balances of all Mortgage Loans and of the Mortgage Loans in each Group, that Pool which were the subject of Principal Prepayments during the Due Period;
(ivvii) The the amount of all Curtailments in each Group that which were received during the Due Period, stated separately for each Pool;
(vviii) The principal portion the aggregate amount of all Excess Payments and the amounts of Monthly Payments for each Group in respect of principal received during the Due Period, stated separately for each Pool;
(viix) The the amount of interest received on the Mortgage Loans in Loans, stated separately for each GroupPool;
(viix) The the amount of the Monthly Advances to be made on the Determination Date, the portion of the Monthly Advances to be deposited in the Certificate Accounts pursuant to Section 6.01(a)(ii), and the Compensating Interest payment to be made on the Determination Date Date, in each case stated separately for each GroupPool;
(viiixi) The the delinquency and foreclosure information set forth in the form attached hereto as Exhibit LO, stated separately for each Pool;
(ixxii) The the amount of any Realized Losses incurred during the related Due Period, stated separately for each Pool;
(xiii) the Pool Remittance Amount Amounts for each Pool for the Remittance Date, in the aggregate and by component and listed separately for the portions relating to each Class of Class A Certificates in the related Pool and, with respect to the Auction Rate Certificates, the amount otherwise required to be distributed thereon with respect to principal and Class A-IO Certificates retained in the Certificate Account for the Distribution Date with the components thereof stated separatelyPool II pursuant to Section 6.08(f);
(xxiv) The amount of the Insured Reimbursable Amounts for each Group, if any, and the Class X Remittance Amount payable pursuant to be paid on the Distribution Date;
Section 6.08(d)(iii) and (xiv) The amount to be distributed with respect to the Class R Certificateholders for Remittance Date; (xv) the Distribution Date;
(xii) The Class Principal Balance of for each Class of Class A Certificates and the Notional Balance of each Class of Class A-IO Certificates and the Aggregate Pool Principal Balance of for each Group, each Pool after giving effect to the distribution to be made on the Distribution Remittance Date and after allocation of Realized Losses made on such Remittance Date;
(xiii) The weighted average remaining term to maturity of the Mortgage Loans in each Group and the weighted average Loan Rate in each Group;
(xiv) The Servicing Fee for each Group and the amount to be paid to the Certificate Insurer pursuant to Section 5.01;
(xv) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03;
(xvi) The Pool Factor for each Group determined using the balances in subclause (ii) above;
(xvii) The amount, if any, transferred from the Simple Interest Excess Account to the Distribution Account pursuant to Section 5.03 and from the Spread Account to the Distribution Account pursuant to Section 4.01;
(xviii) The percentage of the related Excess Spread used to determine the Monthly Excess Spread Amount for each Group, the Excess Spread for each Group, the Monthly Excess Spread Amount for each Group, the Spread Account Excess and the allocation of the Spread Account Excess to Reimbursable Amounts, Monthly Advances and Class R Certificateholders pursuant to Section 4.01;
(xix) The amounts which are reimbursable to the Servicer or the Seller, as appropriate, pursuant to Section 5.01(a)(iv) and the amount paid to Class R Certificateholders pursuant to Section 5.01(a)(ix);
(xx) The number of Mortgage Loans in each Group outstanding at the beginning and at the end of the related Due Period;
(xxi) The amount on deposit in each sub-account of the Spread Account after the Distribution Date;
(xxii) The amount of losses experienced on the Mortgage Loans in each Group during the preceding Due Period and the cumulative losses for the Mortgage Loans in each Group as a percentage of the related Cut-Off Date Principal Balance;
(xxiii) The Class A-2 Available Funds Carryforward, if any, after giving effect to all distributions on such Distribution Date;
(xxiv) The amount of Class Interest Carryover Shortfall relating to each Class of Class A Certificates and the Class A-IO Certificates, separately stating the amount that is allocable to each such Class and the amount allocable to interest and principal; and
(xxv) Whether a Servicer Termination Delinquency Event or a Servicer Termination Loss Event has occurred and specifying the details thereof. The Trustee shall make such report available to the Servicer, the Depositor, the Certificateholders, the Certificate Insurer, the Rating Agencies and Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: [________]) on its internet website located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.▇▇▇” on the related Distribution Date. Assistance in using the website can be obtained by calling the Trustee’s investor relations desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution method are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and indicating such. In addition, together with such report, the Trustee shall forward to Bloomberg a copy of the computer tape delivered by the Servicer on the Distribution Date. The Trustee may fully rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Trustee’s Remittance Report and the hard copy issued upon request (pursuant to the preceding paragraph) thereof, the Servicer may rely upon the latter. In the case of information furnished pursuant to subclauses (ii) and (ix) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the Cut-Off Date.
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Sources: Pooling and Servicing Agreement (Money Store Home Equity Corp)