Common use of Loan Data Remittance Report Clause in Contracts

Loan Data Remittance Report. (a) On each Loan Data Reporting Date by noon Pacific Time, the Master Servicer shall furnish a complete and accurate report (the "Loan Data Remittance Report") in the form attached as Exhibit M to this Agreement to the Guarantor and the NIMS Insurer by electronic medium as agreed to by the Master Servicer, the NIMS Insurer and the Guarantor. In addition, the Master Servicer shall (i) furnish to the Guarantor and the NIMS Insurer a report with respect to the Mortgage Loans that have been voluntarily repurchased by the Master Servicer pursuant to Section 3.16 during the related Prepayment Period indicating the Mortgage Loan number, the date of repurchase and the Principal Balance of each Mortgage Loan so repurchased; (ii) furnish to the Guarantor and the NIMS Insurer a Monthly Appraisal Defects Report and a Monthly Quality Control Report, each in form and substance satisfactory to the Guarantor and (iii) furnish to the NIMS Insurer a monthly report indicating each Mortgage Loan number, Principal Balance, Prepayment Charges due, Prepayment Charges collected, Servicer Prepayment Charges remitted and the reason for any Prepayment Charge being waived. (b) If in any month the Master Servicer fails to provide the Guarantor the Loan Data Remittance Report on or prior to the Loan Data Reporting Date or if such report is deemed to be materially incomplete or inaccurate by the Guarantor, the Master Servicer shall pay to the Guarantor the following amounts: (i) upon the first such failure, $500; (ii) upon the second such failure, $750; and (iii) upon the third such failure, $1,000; provided, however, that the Master Servicer shall not be required to make any such payment upon the first such failure during each successive two year period following the Closing Date. The fourth consecutive such failure to provide a Loan Data Remittance Report to the Guarantor pursuant to Section 4.06(a) shall constitute an event of default and permit the Guarantor to remove the Master Servicer for cause.

Loan Data Remittance Report. (a) On each Loan Data Reporting Date by noon Pacific Time, the Master Servicer shall furnish a complete and accurate report (the "Loan Data Remittance Report") in the form attached as Exhibit M to this Agreement to the Guarantor and the NIMS Insurer by electronic medium as agreed to by the Master Servicer, the NIMS Insurer and the Guarantor. In addition, the Master Servicer shall (i) furnish to the Guarantor and the NIMS Insurer a report with respect to the Mortgage Loans that have been voluntarily repurchased by the Master Servicer pursuant to Section 3.16 during the related Prepayment Period indicating the Mortgage Loan number, the date of repurchase and the Principal Balance of each Mortgage Loan so repurchasedrepurchased and a report setting forth the Mortgage Loan number of each PMI Mortgage Loan for which a claim made under the PMI Policy was denied, curtailed, or for which coverage under the PMI Policy was canceled; (ii) furnish to the Guarantor and the NIMS Insurer a Monthly Appraisal Defects Report and a Monthly Quality Control Report, each in form and substance satisfactory to the Guarantor and (iii) furnish to the NIMS Insurer a monthly report indicating each Mortgage Loan number, Principal Balance, Prepayment Charges due, Prepayment Charges collected, Servicer Prepayment Charges remitted and the reason for any Prepayment Charge being waived. (b) If in any month the Master Servicer fails to provide the Guarantor the Loan Data Remittance Report on or prior to the Loan Data Reporting Date or if such report is deemed to be materially incomplete or inaccurate by the Guarantor, the Master Servicer shall pay to the Guarantor the following amounts: (i) upon the first such failure, $500; (ii) upon the second such failure, $750; and (iii) upon the third such failure, $1,000; provided, however, that the Master Servicer shall not be required to make any such payment upon the first such failure during each successive two year period following the Closing Date. The fourth consecutive such failure to provide a Loan Data Remittance Report to the Guarantor pursuant to Section 4.06(a) shall constitute an event of default and permit the Guarantor to remove the Master Servicer for cause.

Loan Data Remittance Report. (a) On each Loan Data Reporting Remittance Date by noon Pacific Time, the Master Servicer shall furnish a complete and accurate report (the "Loan Data Remittance Report") in the form attached as Exhibit M P to this Agreement to the Guarantor and the NIMS Insurer by electronic medium as agreed to by the Master Servicer, the NIMS Insurer and the Guarantor. In addition, the Master Servicer shall (i) furnish to the Guarantor and the NIMS Insurer a report with respect to the Mortgage Loans that have been voluntarily repurchased by the Master Servicer pursuant to Section 3.16 during the related Prepayment Period indicating the Mortgage Loan number, the date of repurchase and the Principal Balance of each Mortgage Loan so repurchased; repurchased and (ii) furnish to the Guarantor and the NIMS Insurer a Monthly Appraisal Defects Report and a Monthly Quality Control Report, each in form and substance satisfactory to the Guarantor and (iii) furnish to the NIMS Insurer a monthly report indicating each Mortgage Loan number, Principal Balance, Prepayment Charges due, Prepayment Charges collected, Servicer Prepayment Charges remitted and the reason for any Prepayment Charge being waivedGuarantor. (b) If in any month the Master Servicer fails to provide the Guarantor the Loan Data Remittance Report on or prior to the Loan Data Reporting Remittance Date or if such report is deemed to be materially incomplete or inaccurate by the Guarantor, the Master Servicer shall pay to the 143 Guarantor the following amounts: (i) upon the first such failure, $500; (ii) upon the second such failure, $750; and (iii) upon the third such failure, $1,000; provided, however, that the Master Servicer shall not be required to make any such payment upon the first such failure during each successive two year period following the Closing Date. The fourth consecutive such failure to provide a Loan Data Remittance Report to the Guarantor pursuant to Section 4.06(a) shall constitute an event of default and permit the Guarantor to remove the a Master Servicer for causeEvent of Termination.

Loan Data Remittance Report. (a) On each Loan Data Reporting Remittance Date by noon Pacific 3:00 PM Eastern Time, the Master Servicer shall furnish a complete and accurate report (the "“Loan Data Remittance Report"”) in the form attached as Exhibit M to this Agreement to the Guarantor and the NIMS Insurer by electronic medium as agreed to by the Master Servicer, the NIMS Insurer Servicer and the Guarantor. In addition, the Master Servicer shall (i) furnish to the Guarantor and the NIMS Insurer a report with respect to the Mortgage Loans that have been voluntarily repurchased by the Master Servicer pursuant to Section 3.16 during the related Prepayment Period indicating the Mortgage Loan number, the date of repurchase and the Principal Balance of each Mortgage Loan so repurchased; (ii) furnish to the Guarantor and the NIMS Insurer a Monthly Appraisal Defects Report repurchased and a Monthly Quality Control Report, each in form and substance satisfactory to report setting forth the Guarantor and (iii) furnish to the NIMS Insurer a monthly report indicating each Mortgage Loan numbernumber of each MGIC Mortgage Loan for which a claim made under the PMI Policy was denied, Principal Balancecurtailed, Prepayment Charges due, Prepayment Charges collected, Servicer Prepayment Charges remitted and or for which coverage under the reason for any Prepayment Charge being waivedPMI Policy was canceled. (b) If in any month the Master Servicer fails to provide the Guarantor the Loan Data Remittance Report on or prior to the Loan Data Reporting Remittance Date (provided, however, the Loan Data Remittance Report may be delivered within 48 hours of the Loan Data Remittance Date) or if such report is deemed to be materially incomplete or inaccurate by the Guarantor, the Master Servicer shall pay to the Guarantor the following amounts: (i) upon the first such failure, $500; (ii) upon the second such failure, $750; and (iii) upon the third such failure, $1,000; provided, however, that any determination of failure shall take into account the Master Servicer shall not be required to make any such payment upon the first 48-hour grace period. The eighth such failure during each successive two in any two-year period following the Closing Date. The fourth consecutive such failure to provide a Loan Data Remittance Report to the Guarantor pursuant to Section 4.06(a4.13(a) shall constitute an event a Servicer Event of default Termination and permit the Guarantor to remove the Master Servicer with respect to the Group I Mortgage Loans for causecause as provided in Section 7.01(a)(vii) of this Agreement. The fourth consecutive failure (determined after taking into account the 48-hour grace period) in any two year period by the Servicer to provide a Loan Data Remittance Report to the Guarantor on or prior to the Loan Data Remittance Date shall constitute a Servicer Event of Termination and permit the Guarantor to remove the Servicer with respect to the Group I Mortgage Loans for cause as provided in Section 7.01(a)(vii) of this Agreement.