Common use of Additional Interim True-Up Adjustments and Filings Clause in Contracts

Additional Interim True-Up Adjustments and Filings. In addition to the True-Up Adjustments described in Section 4.01(b)(i) and Section 4.01(b)(ii), the Servicer shall initiate a proceeding with the Commission to implement an Additional Interim True-Up Adjustment (in the same manner as provided for the Semi-Annual Interim True-Up Adjustments) (x) at any time if the Servicer forecasts that Securitization Charge Collections during the current or succeeding Calculation Period will be insufficient (A) to make all scheduled payments of Periodic Principal and interest due in respect of the Securitization Bonds on a timely basis during such Calculation Period, (B) to pay Ongoing Other Qualified Costs on a timely basis and (C) to replenish any draws on the Capital Subaccount or (y) every three months following the Scheduled Final Payment Date for each Tranche of Securitization Bonds if there are any remaining amounts due on such Tranche of Securitization Bonds on such date.

Appears in 4 contracts

Samples: Intercreditor Agreement (Consumers 2023 Securitization Funding LLC), Securitization Property Servicing Agreement (Consumers 2023 Securitization Funding LLC), Securitization Property Servicing Agreement (Consumers 2023 Securitization Funding LLC)

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