Common use of Asset Monitor Report Clause in Contracts

Asset Monitor Report. The Asset Monitor shall promptly notify, on a confidential basis, the CBC, the Administrator, the Security Trustee and the Issuer, in writing, and in any event by no later than two (2) Business Days following the testing by it pursuant to this Clause 3 of the results of its tests. If the calculations performed by the CBC (or the Administrator on its behalf) have not been performed correctly, the written notification by the Asset Monitor shall (i) set out the correct calculation of the Asset Cover Test, the Amortisation Test or the Liquidity Reserve Test, as applicable, (ii) indicate whether the Asset Cover Test, the Amortisation Test or the Liquidity Reserve Test, as applicable, has been passed or failed and (iii) set out the result of such correct calculation together with the incorrect calculation and the result of such incorrect calculation as carried out by the CBC (or the Administrator on its behalf). The Asset Monitor shall provide such written notification (in relation to the Administrator and the Issuer) for information purposes only and without accepting any duty of care, liability or responsibility whatsoever towards the Administrator or the Issuer and (in relation to the CBC and the Security Trustee) subject to Clause 9 and (article 11 of) the general terms and conditions of the Asset Monitor.

Asset Monitor Report. The Asset Monitor shall promptly notify, on a confidential basis, the CBC, the Administrator, the Security Trustee and the Issuer, in writing, and in any event by no later than two (2) Business Days following the testing by it pursuant to this Clause 3 of the results of its tests. If the calculations performed by the CBC (or the Administrator on its behalf) have not been performed correctly, the written notification by the Asset Monitor shall (i) set out the correct calculation of the Asset Cover Test, the Amortisation Test or the Liquidity Reserve Test, as applicable, (ii) indicate whether the Asset Cover Test, the Amortisation Test or the Liquidity Reserve Test, as applicable, has been passed or failed and (iii) set out the result of such correct calculation together with the incorrect calculation and the result of such incorrect calculation as carried out by the CBC (or the Administrator on its behalf). The Asset Monitor shall provide such written notification (in relation to the Administrator and the Issuer) for information purposes only and without accepting any duty of care, liability or responsibility whatsoever towards the Administrator or the Issuer and (in relation to the CBC and the Security Trustee) subject to Clause 9 of this Agreement and (article 11 of) the general terms General Terms and conditions Conditions of the Asset Monitor.