Common use of Statements to the Owner Clause in Contracts

Statements to the Owner. Not later than the second Business Day following the 15th calendar day of the month of the related Remittance Date, the Servicer shall furnish to the Master Servicer, in an electronic format mutually agreed to by the Servicer and Master Servicer, a monthly remittance advice as to the prior calendar month, with a trial balance report attached thereto, and such other loan level information reasonably available to the Servicer and requested by the Master Servicer. The Servicer shall also furnish to the Master Servicer (in such format mutually agreed to by the Servicer and the Master Servicer) a monthly report detailing loan level prepayment charges collected and/or waived by the Servicer in accordance with Section 4.16.