Remittance Reports Sample Clauses
The Remittance Reports clause requires one party, typically the party responsible for collecting or distributing funds, to provide regular statements detailing the amounts collected, payments made, and any deductions or withholdings. These reports are usually submitted on a scheduled basis, such as monthly or quarterly, and must include sufficient information to allow the recipient to verify the accuracy of the remittances. The core function of this clause is to ensure transparency and accountability in financial transactions between the parties, helping to prevent disputes and facilitate accurate record-keeping.
Remittance Reports. (a) The Remittance Report for each Distribution Date shall identify the following items, in addition to the items specified in Section 4.01 of the Standard Terms:
(1) the Interest Distribution Amount for each Class of the Certificates for such Distribution Date (which shall equal the Priority Interest Distribution Amount for the Corresponding Subaccount) and the Carryover Interest Distribution Amount, as well as any Writedown Interest Distribution Amount and any Carryover Writedown Interest Distribution Amount, for each Class of the Certificates for such Distribution Date, and the amount of interest of each such category to be distributed on each such Class based upon the Available Distribution Amount for such Distribution Date;
(2) the amount to be distributed on such Distribution Date on each Class of the Certificates to be applied to reduce the Certificate Principal Balance of such Class (which will be equal to the amount to be allocated on such Distribution Date on the Corresponding Subaccount to be applied to reduce the Subaccount Principal Balance of such Subaccount), separately identifying any portion of such amount attributable to any prepayments, the amount to be distributed to reduce the Principal Distribution Shortfall Carryover Amount on each such Class based upon the Available Distribution Amount for such Distribution Date.
(3) the aggregate amount, if any, to be distributed on the Residual Certificates;
(4) the amount of any Writedown Amounts to be allocated to reduce the Certificate Principal Balance of any Class of Subordinated Certificates (which will be equal to the amount of any Writedown Amount to be allocated to the Corresponding Subaccount) on such Distribution Date;
(5) the amount of the Limited Guarantee Payment Amount, if any, for such Distribution Date and the aggregate amount of any unpaid Limited Guarantee Payment Amounts for any previous Distribution Dates;
(6) the Certificate Principal Balance of each Class of the Certificates (which will be equal to the Subaccount Principal Balance of the Corresponding Subaccount) and the Adjusted Certificate Principal Balance of each Class of the Offered Subordinated Certificates (which will be equal to the Adjusted Subaccount Principal Balance of the Corresponding Subaccount) after giving effect to the distributions to be made (and any Writedown Amounts to be allocated) on such Distribution Date;
(7) the aggregate Interest Distribution Amount remaining unpaid, if any, and the aggregate Carr...
Remittance Reports. On the Business Day following each Determination Date, the Master Servicer shall deliver to the Indenture Trustee and the Bond Insurer a report, prepared as of the close of business on the Determination Date (the “Remittance Report”), in the form of a magnetic tape or disk or such other method as to which the Master Servicer and the Indenture Trustee shall agree. The Remittance Report and any written information supplemental thereto shall include such information with respect to the Mortgage Loans that is reasonably available to the Master Servicer and that is required by the Indenture Trustee for purposes of making the calculations and providing the reports referred to in the Indenture, as set forth in written specifications or guidelines issued by the Indenture Trustee from time to time. In addition, prior to each Payment Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Collection Period. The amount of each Realized Loss shall be evidenced by an Officer’s Certificate delivered to the Indenture Trustee and the Bond Insurer with the related Remittance Report. The determination by the Master Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Indenture Trustee shall be protected in relying upon the same without any independent check or verification. The Indenture Trustee shall have no obligation to recompute, recalculate or verify any information provided to it by the Master Servicer.
Remittance Reports. On or before the third Business Day prior to each Distribution Date, the Servicer shall prepare a statement containing the information specified below as to such Distribution Date (a "Remittance Report") and deliver such statement to the Trustee. The Trustee shall forward such report to the Certificateholders on the related Distribution Date, by mail to the addresses of such Certificateholders as listed in the Certificate Register on the preceding Record Date. A Remittance Report for a Distribution Date for a Series shall identify the following items:
(1) the aggregate amount of each of the following, stated separately, with respect to the related Assets: (A) the amount of all scheduled principal payments on the Assets relating to such Distribution Date, (B) the principal components and interest components of all Monthly Payments made by the Obligors on the Assets during the related Collection Period, (C) Principal Prepayments (including related Net Insurance Proceeds) received by the Servicer during the related Prepayment Period, (D) Liquidation Proceeds (including related Insurance Proceeds) and Net Liquidation Proceeds (including related Net Insurance Proceeds) received during the related Prepayment Period, (E) the amount of any Repurchase Price paid by the Company, the Seller or the Servicer with respect to any of the Contracts purchased by the Company, the Seller or the Servicer pursuant to Section 2.06 hereof during the related Prepayment Period, (F) the aggregate number of Repo Properties and the aggregate number of REO Properties in the Trust as of the end of the related Prepayment Period and the aggregate of the unpaid principal balances of the related Contracts and of the related Mortgage Loans, respectively, (G) the aggregate number and the aggregate Unpaid Principal Balance of Outstanding Contracts and Outstanding Mortgage Loans, stated separately, that are (i) delinquent one month (i.e., 30 to 59 days) as of the end of the related Prepayment Period, (ii) delinquent two months (i.e., 60 to 89 days) as of the end of the related Prepayment Period, (iii) delinquent three months (i.e., 90 days or longer) as of the end of the related Prepayment Period and (iv) as to which repossession, foreclosure or other comparable proceedings have been commenced as of the end of the related Prepayment Period, (H) the amount of Realized Losses incurred on the Assets during the related Prepayment Period and on a cumulative basis since the Cut-off Date (the latter e...
Remittance Reports. For as long as the Servicer and the Marketing Agent are depositing Collections pursuant to Section 4.3(b)(ii) and depositing any required Upgrade Payments within two (2) Business Days after the identification that all of the terms and conditions related to such Upgrade Offer have been satisfied by the related Obligor, the Servicer will provide a written report (which may be electronically submitted) to the Indenture Trustee and the Note Paying Agent on each such deposit or remittance date setting forth (x) the aggregate dollar amount deposited or remitted into the Collection Account by the Servicer, the Marketing Agent or an Originator on such date, (y) the aggregate dollar amount of Collections deposited by the Servicer on such date and (z) the aggregate number of Upgrade Offers accepted since the deposit or remittance date immediately preceding the related deposit or remittance date, and the aggregate amount of Upgrade Payments remitted by the Marketing Agent or an Originator on such date.
Remittance Reports. 33 Section 4.02 RESERVED.........................................................................33 Section 4.03 RESERVED.........................................................................33 Section 4.04 ADVANCES.........................................................................33 Section 4.05 COMPENSATING INTEREST PAYMENTS...................................................34 Section 4.06 EXCHANGE ACT REPORTING...........................................................34
Remittance Reports. On the Business Day following each Determination Date, the Master Servicer shall deliver to the Indenture Trustee a report, prepared as of the close of business on the Determination Date (the "Remittance Report"), in the form of a magnetic tape or disk or such other method as to which the Master Servicer and Indenture Trustee shall agree. The Remittance Report and any written information supplemental thereto shall include such information with respect to the Mortgage Loans that is reasonably available to the Master Servicer and that is required by the Indenture Trustee for purposes of making the calculations and providing the reports referred to in the Indenture, as set forth in written specifications or guidelines issued by the Indenture Trustee from time to time. In addition, prior to each Payment Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Collection Period. The amount of each Realized Loss shall be evidenced by an Officer's Certificate delivered to the Indenture Trustee with the related Remittance Report. The determination by the Master Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Indenture Trustee shall be protected in relying upon the same without any independent check or verification. The Indenture Trustee shall have no obligation to recompute, recalculate or verify any information provided to it by the Master Servicer.
Remittance Reports. 25 Section 4.02 Reserved...............................................................25 Section 4.03 Reserved...............................................................25 Section 4.04 Advances...............................................................25 Section 4.05 Compensating Interest Payments.........................................26 Section 4.06 Exchange Act Reporting.................................................26 ARTICLE V
Remittance Reports. Not later than the fifteenth (15th) calendar day, or if such day is not a Business Day, the first Business Day immediately preceding the fifteenth calendar day of the month of the related Remittance Date, the Servicer shall furnish to the Master Servicer, a monthly remittance advice in the format set forth in Exhibit D attached hereto (or in such other format mutually agreed to by the Master Servicer and the Servicer), with regard to monthly loan remittance data and a report containing the information required by Exhibit E (or in such other format mutually agreed to by the Master Servicer and the Servicer) with respect to defaulted mortgage loans, with a trial balance report attached thereto, and such other loan level information reasonably available to the Servicer and requested by the Master Servicer. Upon the foreclosure sale of any Mortgaged Property or the acquisition thereof by the Indenture Trustee pursuant to a deed-in-lieu of foreclosure, the Servicer shall submit to the Master Servicer a liquidation report in the format set forth in Exhibit F attached hereto (or in such other format mutually agreed to by the Servicer and Master Servicer) with respect to such Mortgaged Property and all supporting documentation reasonably required by the Master Servicer. The Master Servicer shall review and approve all Realized Loss calculations contained in such liquidation report. The Servicer shall also provide reports on the status of REO Property containing such information as the Master Servicer may reasonably require.
Remittance Reports. Advances by the Master Servicer.
(a) By 11:00 A.M. New York time the Business Day following each Determination Date, the Master Servicer shall deliver to the Trustee a report, prepared as of the close of business on the Determination Date (the "Determination Date Report"), by telecopy or in a mutually agreeable electronic format. The Determination Date Report and any written information supplemental thereto shall include such information with respect to the Mortgage Loans that is reasonably available to the Master Servicer and that is required by the Trustee for purposes of making the calculations referred to in the following paragraph, as set forth in written specifications or guidelines issued by the Trustee from time to time. Not later than 2:00 P.M. New York time on the Certificate Account Deposit Date, the Trustee shall furnish by telecopy to the Master Servicer a statement (the information in such statement to be made available to Certificateholders or the Depositor by the Master Servicer on request) setting forth (i) the Available Distribution Amount, (ii) the amounts required to be withdrawn from the Custodial Account and deposited into the Certificate Account on the immediately succeeding Certificate Account Deposit Date pursuant to clause (iii) of Section 4.01 (a); and (iii) such other information with respect to the Mortgage Loans as the Trustee may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. The determination by the Trustee of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder.
(b) Not later than 2:00 P.M. New York time on the Certificate Account Deposit Date, the Trustee shall notify the Master Servicer of the aggregate amount of Advances required to be made for the related Distribution Date, which shall be the aggregate amount of Monthly Payments (with each interest portion thereof adjusted to be net of the related Servicing Fee Rate), less the amount of any related Debt Service Reductions or reductions in the amount of interest collectable from the Mortgagor pursuant to the Relief Act, on the Outstanding Mortgage Loans as of the related Due Date, which Monthly Payments were delinquent as of the close of business as of the related Determination Date, provided that following the reduction of the Certificate Principal Balances of t...
Remittance Reports. 43 Section 4.03.