Common use of ADDRESSED IN ASSESSMENT OF COMPLIANCE Clause in Contracts

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 [____], 20[__], [___], 20[_] and [___], 20[_] (each, a “Re-Designation Date”), (x) under the Master Collateral Agreement, the Administrator designated to Group [_] the Receivables listed on the related Schedule of Receivables; and (y) (I) the Group to which such Receivables were re-designated and the Group from which such Re-Designated Receivable were removed, (II) the Group Pool Balance for the Group to which such Receivables were re-designated, (III) the Required Pool Balance for the Group to which such Receivables were re-designated and (IV) the Excess Concentration Amount and Ineligible Amount, in each case, for each Series of the Group to which such Receivables were re-designated, in each case, for which Credit Extensions are Outstanding as of the related Re-Designation Date, and in each case, after giving effect to the re-designation of Receivables to the related Group on such Re-Designation Date and calculated as of the related Measurement Date, are as follows:

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 2021 (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 [____], 20[__], [___], 20[_] and [___], 20[_] (each, a “Re-Designation Date”), (x) under the Master Collateral Agreement, the Administrator designated to Group [_] the Receivables listed on the related Schedule of Receivables; and (y) (I) the Group to which such Receivables were re-designated and the Group from which such Re-Designated Receivable were removed, (II) the Group Pool Balance for the Group to which such Receivables were re-designated, (III) the Required Pool Balance for the Group to which such Receivables were re-designated and (IV) the Excess Concentration Amount and Ineligible Amount, in each case, for each Series of the Group to which such Receivables were re-designated, in each case, for which Credit Extensions are Outstanding as of the related Re-Designation Date, and in each case, after giving effect to the re-designation of Receivables to the related Group on such Re-Designation Date and calculated as of the related Measurement Date, are as follows:

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 20[_] (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 [____], 20[__], [___], 20[_] and [___], 20[_] (each, a “Re-Designation Date”), (x) under the Master Collateral Agreement, the Administrator designated to Group [_] the Receivables listed on the related Schedule of Receivables; and (y) (I) the Group to which such Receivables were re-designated and the Group from which such Re-Designated Receivable were removed, (II) the Group Pool Balance for the Group to which such Receivables were re-designateddesignated [and the Group from which such Re-Designated Receivable were removed], (III) the Required Pool Balance for the Group to which such Receivables were re-designated and (IV) the Excess Concentration Amount and Ineligible Amount, in each case, for each Series of the Group to which such Receivables were re-designated, in each case, for which Credit Extensions are Outstanding as of the related Re-Designation Date, and in each case, after giving effect to the re-designation of Receivables to the related Group on such Re-Designation Date and calculated as of the related Measurement Date, are as follows: