Common use of Monthly Requirements Clause in Contracts

Monthly Requirements. MCLP shall provide the following reports in respect of each month during the Investment Term, each such report to be delivered within the time period indicated below in this Section 8.2(3) for the particular report: (a) a report showing Mortgage balances for MCAN as at month end (by the first Business Day of the following month) by Product Group, Mortgage number, term, and remaining term to maturity, : (b) a report showing interest due and accrued as at month end (by the first Business Day of the following month); (c) a report showing interest and principal amounts in arrears as at month end (by the third Business Day of the following month), broken down into: greater than 30 days and less than 60 days, greater than 60 days and less than 90 days, and greater than 90 days; (d) a report showing uninsured Mortgages at month end in arrears at least 60 days along with information detailing the current stage of collection efforts along with specific reserves recommended against such loans, if any (by the fifth Business Day of the following month); (e) a report showing monthly fees earned by MCAN or MCLP by Mortgage including, but not limited to, Commitment Fees, origination fees, processing fees, Discharge Fees, Letter of Credit Fees and any other fees charged by MCAN or MCLP (by the second Business Day of the following month); (f) a report showing a monthly summary and reconciliation of Mortgage trading activity for MCAN, (by the third Business Day of the following month); (g) electronic files downloadable into MS Excel of Originated Mortgages outstanding (by the third Business Day of the following month); (h) reports showing a monthly summary of Mortgage Advances for each Product Group (by the third Business Day of the following month); (i) a report showing all repayments of Originated Mortgages (by the third Business Day of the following month); (j) a report showing renewals of Mortgages (by the third Business Day of the following month); (k) a schedule of Mortgage commitments outstanding at month end (by the third Business Day of the following month); and (l) a report showing a monthly summary of securitization transactions entered into by MCAN (by the third Business Day of the following month). (m) Search MCAN’s portfolio records of Originated Mortgages for any names appearing on the list of terrorists generally provided by OSFI and/or MCAN from time to time, as soon as possible upon receipt. A report on the results of such searches will be provided to MCAN upon the conclusion of each search. The frequency of searches may be increased based on the number of name matches received. The cost of completing searches beyond those required under the PCMLTF Act will be absorbed by MCAN to the extent such additional searches are for the sole benefit of MCAN. Where a match occurs, MCLP will immediately notify MCAN’s CAMLO, providing such detail as to allow MCAN to file the required reports.