Reports and Statements to Series Clause Samples
The "Reports and Statements to Series" clause requires the provision of regular financial or operational reports and statements to the holders or managers of a specific investment series. Typically, this involves delivering periodic updates such as balance sheets, income statements, or performance summaries that detail the status and activities of the series. By mandating these disclosures, the clause ensures transparency and keeps stakeholders informed, thereby supporting oversight and informed decision-making regarding the series.
Reports and Statements to Series. 1998-1 --------------------------------------- Certificateholders. ------------------
(a) On each Distribution Date, the Paying Agent, on behalf of the Trustee, shall make available for inspection upon request to each Series 1998-1 Holder free of charge at the office of such Paying Agent a statement substantially in the form of Exhibit C prepared by the Servicer for a period of six months commencing on such Distribution Date.
(b) Not later than each Determination Date, the Servicer shall deliver to the Trustee, the Paying Agent and each Rating Agency (i) a statement substantially in the form of Exhibit C prepared by the Servicer and (ii) a certificate of a Servicing Officer substantially in the form of Exhibit D.
(c) On or before January 31 of each calendar year, beginning with the calendar year next succeeding the Closing Date, the Paying Agent, on behalf of the Trustee, shall make available for inspection upon request to each Person who at any time during the preceding calendar year was a Series 1998-1 Holder free of charge at the office of such Paying Agents, a statement prepared by the Servicer containing the information which is required to be contained in the statement to Series 1998-1 Holders, as set forth in paragraph (a) or (b) above, as applicable, aggregated for such calendar year or the applicable portion thereof during which such Person was a Series 1998-1 Holder, together with other information as is required to be provided by an issuer of indebtedness under the Internal Revenue Code for a period of eighteen months commencing on February 1 of such calendar year. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be made available for inspection by the Paying Agent pursuant to any requirements of the Internal Revenue Code as from time to time in effect.
Reports and Statements to Series. 1999-2 Certificateholders.
(a) On each Distribution Date, the Paying Agent, on behalf of the Trustee, shall forward to each Series 1999-2 Certificateholder a statement substantially in the form of Exhibit C to this Supplement prepared by the Servicer and delivered to the Paying Agent.
(b) Not later than each Determination Date, the Servicer shall deliver to the Trustee, the Paying Agent, each Rating Agency and the Collateral Interest Holder (i) a statement substantially in the form of Exhibit C to this Supplement prepared by the Servicer and (ii) a certificate of a Servicing Officer substantially in the form of Exhibit D.
(c) A copy of each statement or certificate provided pursuant to paragraph (a) or (b) may be obtained by any Series 1999-2 Certificateholder or any Certificate Owner thereof by a request in writing to the Servicer.
(d) On or before January 31 of each calendar year, beginning with calendar year 1999, the Paying Agent, on behalf of the Trustee, shall furnish or cause to be furnished to each Person who at any time during the preceding calendar year was a Series 1999-2 Certificateholder, a statement prepared by the Servicer containing the information which is required to be contained in the statement to Series 1999-2 Certificateholders, as set forth in paragraph (a) above aggregated for such calendar year or the applicable portion thereof during which such Person was a Series 1999-2 Certificateholder, together with other information as is required to be provided by an issuer of indebtedness under the Code. Such obligation of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Paying Agent pursuant to any requirements of the Code as from time to time in effect.
Reports and Statements to Series. [•] Noteholders.
(a) On each Payment Date, the Paying Agent, on behalf of the Indenture Trustee, shall forward to each Series [•] Noteholder a statement substantially in the form of Exhibit B-1 (or otherwise containing substantially comparable information) prepared by the Servicer and delivered to the Paying Agent.
(b) On or prior to the second Business Day preceding each Payment Date, the Servicer shall deliver to the Indenture Trustee, the Paying Agent, the Transferor, each Note Rating Agency and the Owner Trustee (i) a statement substantially in the form of Exhibit B-3 (or otherwise containing substantially comparable information) prepared by the Servicer and (ii) a certificate of a Servicing Officer substantially in the form of Exhibit C (or otherwise containing substantially comparable information).
(c) On or before the date that is forty-five (45) days after each calendar quarter, beginning with the [•] quarter of 20[·], the Servicer shall provide to the Paying Agent, and the Paying Agent on behalf of the Indenture Trustee, shall forward to each Series [•] Noteholder:
(i) information with respect to the credit performance of the Series [•] Notes and the Receivables, including periodic and cumulative Receivables performance data, delinquency and modification data for the Receivables, substitutions and removals of the Receivables, servicer advances, if applicable, as well as losses that were allocated to the Series [•] Notes, if applicable, the remaining balance of the Receivables, and the percentage of each Class of Series [•] Notes in relation to the Series [•] Notes as a whole; and
(ii) a statement regarding any changes to the information that was disclosed in connection with the issuance of the Series [•] Notes regarding the nature and amount of compensation paid to BBD, each Note Rating Agency (if applicable), any third-party advisor, any mortgage or other broker, and the Servicer, the extent to which any risk of loss on the Receivables is retained by any of them, and the amount and nature of any deferred compensation or similar arrangements.
(d) At the time of delivery of any periodic distribution report and in any event at least once per calendar quarter, while the Series [•] Notes are outstanding, the Paying Agent on behalf of the Indenture Trustee, shall forward to each Series [•] Noteholder copies of the Credit Risk and Performance Disclosure.
(e) A copy of each statement or certificate provided pursuant to Section 7.04(a), (b) or (c) above m...
Reports and Statements to Series. 1996-1 Certificateholders.
(a) At least two Business Days prior to each Distribution Date, the Servicer will provide to the Trustee statements substantially in the forms of Exhibits B-1 and B-2, and on each Distribution Date the Trustee shall forward to each Series 1996-1 Certificateholder the statement substantially in the form of Exhibit B-2 prepared by the Servicer setting forth certain information relating to the Trust and the Series 1996-1 Certificates.
(b) A copy of each statement provided pursuant to paragraph (a) will be made available for inspection at the Corporate Trust Office.
(c) On or before January 31, of each calendar year, beginning with calendar year 1997, the Trustee shall furnish or cause to be furnished to each Person who at any time during the preceding calendar year was a Series 1996-1 Certificateholder, a statement prepared by the Servicer containing the information which is required to be contained in the statement to Series 1996-1 Certificateholders as set forth in paragraph (a) above, aggregated for such calendar year or the applicable portion thereof during which such Person was a Series 1996-1 Certificateholder, together with other information as is required to be provided by an issuer of indebtedness under the Internal Revenue Code and such other customary information as is necessary to enable the Series 1996-1 Certificateholders (or Certificate Owners) to prepare their tax returns. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Internal Revenue Code as from time to time in effect.
Reports and Statements to Series. 1997-2 Certificateholders.
(a) On each Distribution Date, the Paying Agent, on behalf of the Trustee, shall forward to each Series 1997-2 Certificateholder a statement substantially in the form of Exhibit C prepared by the Servicer. If and so long as the Series 1997-2 Certificates are listed on the Luxembourg Stock Exchange and the rules of such exchange shall so require, within two Business Days following each Payment Date, the Servicer shall publish or cause to be published in an Authorized Newspaper of general circulation in Luxembourg a notice to the effect that the information set forth in the statement forwarded by the Paying Agent to Series 1997-2 Certificateholders with respect to such Payment Date will be available for review at the Luxembourg Stock Exchange and at the main office of the listing agent in Luxembourg, Banque Internationale A Luxembourg S.A.
(b) Not later than the fourth Business Day preceding each Distribution Date, the Servicer shall deliver to the Trustee, the Paying Agent, each Rating Agency and the Cash Collateral Depositor and each Additional Cash Collateral Depositor (i) a statement substantially in the form of Exhibit C prepared by the Servicer and (ii) a certificate of a Servicing Officer substantially in the form of Exhibit D.
Reports and Statements to Series. 20[●]-[●] Noteholders.
(a) Not later than the second Business Day preceding each Payment Date, the Issuer shall deliver or cause the Servicer to deliver to the Trustee, the Indenture Trustee and each Rating Agency a statement substantially in the form of Exhibit B prepared by the Servicer; provided, that the Issuer may amend the form of Exhibit B from time to time, with the prior written consent of the Indenture Trustee.
(b) A copy of each statement or certificate provided pursuant to Section 5.2(a) may be obtained by any Series 20[●]-[●] Noteholder by a request in writing to the Issuer.
(c) On or before January 31 of each calendar year, beginning with January 31, 20[●], the Issuer shall furnish or cause to be furnished to each Person who at any time during the preceding calendar year was a Series 20[●]-[●] Noteholder the information for the preceding calendar year, or the applicable portion thereof during which the Person was a Noteholder, as is required to be provided by an issuer of indebtedness under the Code to the holders of the Issuer’s indebtedness and such other customary information as is necessary to enable such Noteholder to prepare its federal income tax returns. Notwithstanding anything to the contrary contained in this Agreement, the Issuer shall, to the extent required by applicable law, from time to time furnish to the appropriate Persons, at least five (5) Business Days prior to the end of the period required by applicable law, the information required to complete a Form 1099-INT.
Reports and Statements to Series. 2000-3 Certificateholders.
(a) On each Distribution Date, the Paying Agent, on behalf of the Trustee, shall forward to each Series 2000-3 Certificateholder a statement substantially in the form of Exhibit C to this Supplement prepared by the Servicer and delivered to the Paying Agent.
(b) Not later than each Determination Date, the Servicer shall deliver to the Trustee, the Paying Agent, each Rating Agency and the Collateral Interest Holder (i) a statement substantially in the form of Exhibit C to this Supplement prepared by the Servicer and (ii) a certificate of a Servicing Officer substantially in the form of Exhibit D.
(c) A copy of each statement or certificate provided pursuant to paragraph (a) or (b) may be obtained by any Series 2000-3 Certificateholder or any Certificate Owner thereof by a request in writing to the Servicer.
Reports and Statements to Series. 2025-1 Noteholders.
Reports and Statements to Series. 2000-1 Certificateholders.
(a) At least two Business Days prior to each Distribution Date, the Servicer shall provide to the Trustee, the Rating Agencies and, for so long as any Series 2000-1 Certificates are listed on the Luxembourg Stock Exchange, such exchange, a statement substantially in the form of Exhibit B (a "Distribution Date Statement"), and on each Distribution Date the Trustee shall forward to each Series 2000-1 Certificateholder such statement prepared by the Servicer setting forth certain information relating to the Trust and the Series 2000-1 Certificates.
(b) A copy of each statement provided pursuant to paragraph (a) and a copy of the Pooling and Servicing Agreement (without exhibits) and this Series Supplement shall be made available to Series 2000-1 Certificateholders of record for inspection at the Corporate Trust Office during the Trustee's normal business hours.
(c) On or before January 31 of each calendar year, beginning with calendar year 2001, the Trustee shall furnish or cause to be furnished to each Person who at any time during the preceding calendar year was a Series 2000-1 Certificateholder, a statement prepared by the Servicer containing the information which is required to be contained in the statement to Series 2000-1 Certificateholders as set forth in paragraph (a) above, aggregated for such calendar year or the applicable portion thereof during which such Person was a Series 2000-1 Certificateholder, together with other information as is required to be provided by an issuer of indebtedness under the Internal Revenue Code for the preceding calendar year and such other customary information as is necessary to enable the Series 2000-1 Certificateholders (or Certificate Owners) to prepare their tax returns. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Internal Revenue Code as from time to time in effect.
Reports and Statements to Series. 1997-1 Certificateholders and the Swap Counterparty.
(a) At least two Business Days prior to each Distribution Date, commencing with the Initial Distribution Date, the Servicer will provide to the Trustee, and on each such Distribution Date, the Trustee shall forward to each Series 1997-1 Certificateholder and the Swap Counterparty, a statement substantially in the form of Exhibit B prepared by the Servicer setting forth certain information relating to the Trust and the Series 1997-1 Certificates.
(b) A copy of each statement provided pursuant to paragraph (a) will be made available for inspection at the Corporate Trust Office.