Statements Clause Samples
The 'Statements' clause defines the representations or assertions made by one or both parties within a contract regarding facts, conditions, or intentions relevant to the agreement. Typically, this clause outlines specific information that a party affirms to be true at the time of signing, such as the authority to enter into the contract, compliance with laws, or the accuracy of provided information. Its core practical function is to establish a baseline of trust and factual accuracy, helping to allocate risk and provide grounds for remedies if any statements are later found to be false or misleading.
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Statements. (1) For the year which includes the Lease Commencement Date, and for each calendar year thereafter during the Term, Landlord shall deliver to Tenant a statement estimating Tenant’s Share of Operating Expenses and Tenant’s Share of Real Estate Tax Expenses for such calendar year, which Tenant shall pay in equal monthly installments in advance on the first day of each calendar month during each calendar year (provided that Tenant shall not be required to make any such payments for the period prior to the Lease Commencement Date). Tenant shall continue to pay such estimated Tenant’s Share of Operating Expenses and Tenant’s Share of Real Estate Tax Expenses until Tenant receives the next such statement from Landlord, at which time Tenant shall commence making monthly payments pursuant to Landlord’s new statement. With the first payment of Additional Rent herein which is due at least fifteen (15) days after Tenant’s receipt of a statement from Landlord specifying the estimated Tenant’s Share of Operating Expenses and the estimated Tenant’s Share of Real Estate Tax Expenses payable during the calendar year, Tenant shall pay the difference between Tenant’s monthly share of such sums for the preceding months of the calendar year and the monthly installments which Tenant has actually paid for said preceding months.
(2) Notwithstanding the foregoing provisions of this Subsection 5.C., in determining Tenant’s Share of Operating Expenses for any calendar year, the portion of Operating Expenses for such calendar year which constitute Controllable Operating Expenses (as hereinafter defined) shall not exceed one hundred five percent (105%) of the amount of Controllable Operating Expenses (as hereinafter defined) actually included in Operating Expenses (after application of the Controllable Operating Expenses Cap) for the immediately preceding calendar year (the “Controllable Operating Expenses Cap”); provided, however, that in the event that Controllable Operating Expenses exceed such Controllable Operating Expenses Cap in any calendar year, Landlord may include the portion of Controllable Operating Expenses from such calendar year which was in excess of the Controllable Operating Expenses Cap for such calendar year in Operating Expenses for any future calendar year(s) until fully charged, so long as such Controllable Operating Expenses for any such future calendar year(s) do not exceed 105% of the Controllable Operating Expenses actually included in Operating Expenses (...
Statements. (a) On each Distribution Date, the Securities Administrator shall make available to the Trustee, each Certificateholder, the Certificate Insurer, the Seller, the Master Servicer and the Rating Agency, a statement based, as applicable, on the Remittance Report obtained from the Master Servicer (the “Distribution Date Statement”) as to the distributions to be made or made, as applicable, on such Distribution Date:
(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 Senior Percentage, Senior Prepayment Percentage, Subordinate Percentage and Subordinate Prepayment Percentage with respect to each Loan Group for the following Distribution Date;
(iv) the amount of servicing compensation received by the Servicer during the related Due Period;
(v) the aggregate amount of Advances for the related Due Period and the amount of unreimbursed Advances;
(vi) [Reserved];
(vii) the Loan Group Balance and related Net WAC for each Loan Group at the Close of Business at the end of the related Due Period;
(viii) [Reserved];
(ix) for each Loan Group, the aggregate Principal Balance of the One-Month LIBOR Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(x) for each Loan Group, the aggregate Principal Balance of the MTA Indexed Mortgage Loans at the Close of Business at the end of the related Due Period;
(xi) for each Loan Group, the number, weighted average remaining term to maturity and weighted average Loan Rate of the related Mortgage Loans as of the related Due Date;
(xii) the number and aggregate unpaid principal balance of Mortgage Loans, in the aggregate and for each Loan Group, (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 last day of the preceding calendar month;
(xiii) 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 as of the Close of Business of the last day of the preceding Due Period;
(xiv) the aggregate amount of Principal Prepaym...
Statements. Agent shall render to Administrative Borrower each month a statement setting forth the balance in the Borrowers’ loan account(s) maintained by Agent for Borrowers pursuant to the provisions of this Agreement, including principal, interest, fees, costs and expenses. Each such statement shall be subject to subsequent adjustment by Agent but shall, absent manifest errors or omissions, be considered correct and deemed accepted by Borrowers and Guarantors and conclusively binding upon Borrowers and Guarantors as an account stated except to the extent that Agent receives a written notice from Administrative Borrower of any specific exceptions of Administrative Borrower thereto within thirty (30) days after the date such statement has been received by Administrative Borrower. Until such time as Agent shall have rendered to Administrative Borrower a written statement as provided above, the balance in any Borrower’s loan account(s) shall be presumptive evidence of the amounts due and owing to Agent and Lenders by Borrowers and Guarantors.
Statements. Lender shall render to Borrower each month a statement setting forth the balance in the Borrower's loan account(s) maintained by Lender for Borrower pursuant to the provisions of this Agreement, including principal, interest, fees, costs and expenses. Each such statement shall be subject to subsequent adjustment by Lender but shall, absent manifest errors or omissions, be considered correct and deemed accepted by Borrower and conclusively binding upon Borrower as an account stated except to the extent that Lender receives a written notice from Borrower of any specific exceptions of Borrower thereto within thirty (30) days after the date such statement has been mailed by Lender. Until such time as Lender shall have rendered to Borrower a written statement as provided above, the balance in Borrower's loan account(s) shall be presumptive evidence of the amounts due and owing to Lender by Borrower.
Statements. The recitals contained herein and in the Securities shall be taken as statements of the Issuer or Japan, as the case may be, and neither the Fiscal Agent nor any other Agent assumes any responsibility for the correctness of the same, except that the Fiscal Agent and other Agents shall be responsible for the correctness of its representations (if any) in the Certificate of Authentication on each Security.
Statements. (a) Not later than 1:00 p.m., New York time, on the fifth Business Day prior to each Distribution Date, the Servicer shall deliver to the Trustee by electronic means a computer file containing the loan level information necessary to permit the Trustee to calculate the information required by clauses (i) through (xxvi) below as of the end of the preceding Prepayment Period or Due 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 each Distribution Date the Trustee shall prepare a statement (the “Remittance Report”) containing the information set forth below 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) Available Funds and each Class’ Certificate Rate for the related Distribution Date;
(ii) 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 Certificates after giving effect to payments allocated to principal above;
(ix) 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 aggregate amount of Principal Prepayments received during the related Prepayment Period;
(xii) the amount of all Curtailme...
Statements. Each Lender claiming compensation or reimbursement pursuant to subsection 2.6D, 2.7 or 2.8B shall deliver to Company (with a copy to Administrative Agent) a written statement, setting forth in reasonable detail the basis of the calculation of such compensation or reimbursement, which statement shall be conclusive and binding upon all parties hereto absent manifest error.
Statements. Subject to applicable law, we will send or make available to you monthly statements of account (called statements) for each billing period during which there are any charges or a balance owing to us on the account. Each statement will show important information about your account, such as the outstanding balance on the last day of the billing period (called the new balance), the minimum payment due, the payment due date and will include charges made by you and any supplementary cardmembers. If your account is seriously overdue or you have a credit balance, we may stop sending you statements. Always check each statement for accuracy and contact us as soon as possible if you need more information about a charge on any statement. If you have a complaint or problem with your statement or any charge on it, inform us immediately but in any event you should contact us within 21 days of the closing date shown on your statement. If you do not inform us in a timely manner, the statement will be considered accurate except for any amount which has been improperly credited to the account and you may not later make a claim against us in respect of any item on the statement. If we request, you agree to promptly provide us with written confirmation of your complaint or problem. If you enroll in online statements you agree that we may stop sending paper statements. You agree that any specific terms about online statements that we provide to you will apply and form part of this agreement. If you do not receive a statement in any month, for example as a result of postal delay or interruption, you must contact us to check what payment is due and the due date. The flexible payment option is a feature that allows you to pay a portion of your balance over time, subject to the conditions set out in this agreement. If you choose to use this feature, we must still receive at least the minimum payment amount indicated on your statement. If you use this feature, interest will apply. Please see the “Charge Card/Interest Charges” section of this agreement for details on how interest is calculated and charged. The flexible payment option is subject to a limit (the “flexible payment option limit”) and any billed balance above this limit will become due in full, and will be included as part of your required minimum payment amount. Please see the “Minimum Payment” section of this agreement for details on how your minimum payment is calculated and when it is due.
Statements. During the term of this Agreement, the Escrow Agent shall provide the Company with (a) monthly statements containing the beginning balance in each Account as well as all principal and income transactions for the statement period and (b) a daily summary of amounts deposited and the status of available funds. The Company shall be responsible for reconciling such statements. The Escrow Agent shall be forever released and discharged from all liability with respect to the accuracy of such statements, except with respect to any such act or transaction as to which the Company shall, within 90 days after the furnishing of the statement, file written objections with the Escrow Agent.
Statements. Tenant shall furnish the following statements to Landlord:
(a) Tenant shall, as soon as available and in any event within one hundred twenty (120) days after the end of each Fiscal Year, provide to Landlord annual audited financial statements of Guarantors and Tenant for such Fiscal Year, including therein the balance sheets of Guarantors and Tenant as of the end of such Fiscal Year and statements of earnings and statements of cash flow of Guarantors and Tenant for such Fiscal Year, in each 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 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 Guarantors and Tenant 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 Quarter, provide to Landlord quarterly financial statements of the Tenant for such Quarter, including therein the balance sheets of Guarantors and Tenant as of the 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 of Guarantors and Tenant 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 statements submitted pursuant to subsections (a) and (b) of this Section, a certificate sign...