ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by the Servicer, shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”: Reference Criteria General Servicing Considerations 1122(d)(1)(i) Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. 1122(d)(1)(ii) If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities. 1122(d)(1)(iii) Any requirements in the transaction agreements to maintain a back-up servicer for the receivables are maintained. N/A 1122(d)(1)(iv) A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. 1122(d)(1)(v) Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. Cash Collection and Administration 1122(d)(2)(i) Payments on receivables are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. 1122(d)(2)(iii) Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. 1122(d)(2)(vi) Unissued checks are safeguarded so as to...
ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by the Administrator, shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”:
ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by the Servicer, shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”:
ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by the Trustee, each Custodian, each Servicer, each Subservicer and each Subcontractor shall address, at a minimum, the criteria identified as below as "Applicable Servicing Criteria":
ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by Xxxxxx Mae, Inc., as the Administrator, shall address, at a minimum, the criteria identified below (the “Applicable Servicing Criteria”):
ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by [the Company] [Name of Subservicer] shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”;
ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by the Master Collateral Agent, shall address, at a minimum, the criteria specified below: 1122(d)(2)(ii) Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. 1122(d)(2)(iv) The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. 1122(d)(2)(v) Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of § 240.13k-1(b)(1) of the Securities Exchange Act of 1934, as amended. 1122(d)(3)(ii) Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. 1122(d)(3)(iii) Disbursements made to an investor are posted within two business days to the servicer’s investor records, or such other number of days specified in the transaction agreements. 1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. U.S. Bank National Association, as Master Collateral Agent Global Structured Finance 000 Xxxxx XxXxxxx Xxxxxx, Xxxxxxx, XX 00000 MK-IL-SL7 Attn: Global Structure Finance/Verizon Master Trust Verizon ABS II LLC Xxx Xxxxxxx Xxx Xxxxxxx Xxxxx, Xxx Xxxxxx 00000 Attn: Chief Financial Officer Verizon Master Trust c/o Wilmington Trust, National Association Xxxxxx Square North, 0000 Xxxxx Xxxxxx Xxxxxx Xxxxxxxxxx XX 00000-0000 Attn: Corporate Trust Administration Ladies and Gentlemen: Under Section 3.3 of the Master Collateral Agency and Intercreditor Agreement, dated as of May 25, 2021, as amended (the “Master Collateral Agreement”), among Verizon Master Trust (the “Trust”), U.S. Bank National Association, as master collateral agent (in such capacity, the “Master Collateral Agent”), Cellco Partnership d/b/a Verizon Wireless (“Cellco”), as Servicer and each Creditor Representative from time to time party thereto (the “Master Collateral Agency Agreement”), we notify the Master Collateral Agent, the Depositor and the Trust that on [____]...
ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by the Owner Trust Administrator, shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”:
ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by Countrywide Home Loans Servicing, LP, [Subservicer] shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria”:
ADDRESSED IN ASSESSMENT OF COMPLIANCE. The assessment of compliance to be delivered by the referenced party shall address, at a minimum, the criteria identified below as “Relevant Servicing Criteria”:
