Administrator’s Certificate; Servicer’s Report Clause Samples
The "Administrator’s Certificate; Servicer’s Report" clause requires the administrator or servicer of a financial agreement to regularly provide formal reports or certificates verifying compliance with the agreement’s terms. Typically, this involves submitting periodic statements that detail the performance of the underlying assets, such as loan payments received, delinquencies, or other key metrics relevant to the transaction. The core function of this clause is to ensure transparency and ongoing oversight, allowing parties to monitor performance and address issues promptly, thereby reducing the risk of mismanagement or default.
Administrator’s Certificate; Servicer’s Report. (a) On or before the tenth day (or, if any such day is not a Business Day, on the next succeeding Business Day), preceding each Distribution Date the Servicer shall deliver to the Administrator and, upon request, to the Eligible Lender Trustee a Servicer’s Report with respect to the preceding Collection Period containing all information necessary for the Administrator to receive in connection with the preparation of the Administrator’s Certificate covering such Collection Period referred to in Section 3.1(c) below.
(b) [Reserved].
(c) On each Determination Date prior to a Distribution Date, the Administrator shall deliver to the Indenture Trustee, with a copy to the Rating Agencies then rating the Notes, an Administrator’s Certificate containing all information necessary to make the distributions pursuant to Sections 2.7 and 2.8 above, if applicable, for the Collection Period preceding the date of such Administrator’s Certificate.
(d) Prior to each Determination Date, the Administrator shall determine the Note Rates that will be applicable to the Distribution Date following such Determination Date, in compliance with its obligation to prepare and deliver an Administrator’s Certificate on such Determination Date pursuant to this Section 3.1. In connection therewith, the Administrator shall calculate on each LIBOR Determination Date during such Accrual Period, Three-Month, Two-Month and/or One-Month LIBOR, as applicable, for the first Accrual Period, and for each subsequent Accrual Period shall calculate, as applicable, on each LIBOR Determination Date during such Accrual Period, One-Month LIBOR.
(e) [Reserved].
(f) The Administrator shall furnish to the Issuer from time to time such information regarding the Collateral as the Issuer shall reasonably request.
Administrator’s Certificate; Servicer’s Report. (a) On or before (i) the seventh day of each month (or, if any such day is not a Business Day, on the next succeeding Business Day), the Master Servicer shall (or shall cause each Sub-Servicer to) deliver to the Seller a Servicer's Report with respect to the preceding calendar month containing all information necessary for the preparation of the applicable Transfer Agreement (including Schedule A), and (ii) the Closing Date or the fifteenth day of each month (or, if any such day is not a Business Day, on the next succeeding Business Day) or any other Transfer Date, the Master Servicer shall (or shall cause each Sub-Servicer to) deliver to the Administrator a Servicer's Report with respect to the preceding calendar month containing all information necessary for the Administrator's preparation of the Administrator's Officer's Certificate and the Administrator's Certificate covering such calendar month referred to in paragraphs (b) and (c) below.
(b) On each Determination Date prior to a Monthly Servicing Payment Date that is not a Distribution Date, the Administrator shall deliver to the Eligible Lender Trustee, the Indenture Trustee and (if the Seller is not the Administrator) the Seller, an Officer's Certificate of the Administrator containing all information necessary to pay the Master Servicer the Master Servicing Fee due on such Monthly Servicing Payment Date pursuant to Sections 5.05(b) and 5.06. In addition, on the Business Day preceding each Transfer Date during the Funding Period, the Administrator shall deliver to the Eligible Lender Trustee, the Indenture Trustee, and (if the Seller is not the Administrator) the Seller, an Officer's Certificate of the Administrator containing all information necessary to make the transfers from the Escrow Account and the Pre-Funding Account on such Transfer Date pursuant to Section 5.08.
(c) On each Determination Date prior to a Distribution Date, the Administrator shall deliver to the Eligible Lender Trustee, the Indenture Trustee and (if the Seller is not the Administrator) the Seller, with a copy to the Rating Agencies, an Administrator's Certificate containing all information necessary to make the distributions pursuant to Sections 5.05, 5.06 and 5.08(c)(i) and (ii), if applicable, for the Collection Period preceding the date of such Administrator's Certificate. Financed Student Loans to be repurchased by the Seller (whether pursuant to Section 2.03 or 3.02), purchased by the Master Servicer (or a Sub-Servicer...
Administrator’s Certificate; Servicer’s Report. (a) On or before the tenth day of each month (or, if any such day is not a Business Day, on the next succeeding Business Day), the Servicer shall deliver to the Administrator a Servicer's Report with respect to the preceding month containing all information necessary for the Administrator to receive in connection with the preparation of the Administrator's Officers' Certificate and the Administrator's Certificate covering such calendar month referred to in Section 3.1(b) below. On or before the tenth day (or, if any such day is not
Administrator’s Certificate; Servicer’s Report. Annual Statement as to Compliance; Notice of Default; Financial Statements.