Common use of Maintenance of Records and Information Clause in Contracts

Maintenance of Records and Information. In addition to any actions required by ICC Regulations or other applicable law, the Servicer shall: (i) maintain adequate records for promptly identifying and contacting each such Third-Party Collector (including any ARES) and for monitoring whether such Third-Party Collector is subject to the Seven-Day Remittance Option, the Fifteen-Day Remittance Option, or the Alternative Remittance Requirement; (ii) maintain records of end-user Customers which are billed by Third-Party Collectors to permit prompt reversion to dual-billing in the event of default by a Third-Party Collector; (iii) create and periodically update a record of the current short-term and long-term unsecured debt ratings, if any, of each Third-Party Collector which is responsible for billing IFCs directly to end-user Customers and is obligated to remit IFC Payments whether or not actually collected from end-user Customers (and, where the IFC payment obligations of any Third-Party Collector are guaranteed by another entity, the ratings of such other entity); (iv) create and periodically update, for each Third-Party Collector which is responsible for billing IFCs directly to end-user Customers and has elected the Fifteen-Day Remittance Option or is otherwise obligated to remit IFCs whether or not IFC Payments are actually collected from end-user Customers, estimates of one month's estimated IFC collections and, in the case of any such Third-Party Collector which does not have an unsecured debt rating of at least BBB- or the equivalent, maintain a deposit or comparable credit security equal to such one month's estimated IFC Collections as provided in the Tariffs. The Servicer shall update the records described in clauses (iii) and (iv) above no less frequently than (A) monthly in the case of any such Third-Party Collector with expected monthly IFC xxxxxxxx of greater than or equal to $5,000,000 and (B) quarterly in each other case.

Maintenance of Records and Information. In addition to any actions required by ICC Regulations or other applicable law, the Servicer shall: (i) maintain adequate records for promptly identifying and contacting each such Third-Party Collector (including any ARES) and for monitoring whether such Third-Party Collector is subject to the Seven-Day Remittance Option, the Fifteen-Day Remittance Option, or the Alternative Remittance Requirement; (ii) maintain records of end-user Customers which are billed by Third-Party Collectors to permit prompt reversion to dual-billing in the event of default by a Third-Party Collector; (iii) create and periodically update a record of the current short-term and long-term unsecured debt ratings, if any, of each Third-Party Collector which is responsible for billing IFCs directly to end-user Customers and is obligated to remit IFC Payments IFCs whether or not IFC Payments are actually collected from end-user Customers (and, where the IFC payment obligations of any such Third-Party Collector are guaranteed by another entity, the ratings of such other entity); (iv) create and periodically update, for each Third-Party Collector which is responsible for billing IFCs directly to end-user Customers and has elected the Fifteen-Day Remittance Option or is otherwise obligated to remit IFCs whether or not IFC Payments are actually collected from end-user Customers, estimates of one month's estimated IFC collections Collections and, in the case of any such Third-Party Collector which does not have an unsecured debt rating of at least BBB- or the equivalent, maintain a deposit or comparable credit security equal to such one month's estimated IFC Collections as provided in the Tariffs. The Servicer shall update the records described in clauses (iii) and (iv) above no less frequently than (A) monthly in the case of any such Third-Party Collector with expected monthly IFC xxxxxxxx of greater than or equal to $5,000,000 and (B) quarterly in each other case.

Maintenance of Records and Information. In addition to any actions required by ICC Regulations or other applicable law, the Servicer shall: (i) maintain adequate records for promptly identifying and contacting each such Third-Party Collector (including any ARES) and for monitoring whether such Third-Party Collector is subject to the Seven-Day Remittance Option, the Fifteen-Day Remittance Option, or the Alternative Remittance Requirement; (ii) maintain records of end-user Customers which are billed by Third-Party Collectors to permit prompt reversion to dual-billing in the event of default by a Third-Party Collector; (iii) create and periodically update a record of the current short-term and long-term unsecured debt ratings, if any, of each Third-Party Collector which is responsible for billing IFCs directly to end-user Customers and is obligated to remit IFC Payments IFCS whether or not IFC payments are actually collected from end-user Customers (and, where the IFC payment obligations of any such Third-Party Collector are guaranteed by another entity, the ratings of such other entity); (iv) create and periodically update, for each Third-Party Collector which is responsible for billing IFCs directly to end-user 19 Customers and has elected the Fifteen-Day Remittance Option or is otherwise obligated to remit IFCs whether or not IFC Payments are actually collected from end-user Customers, estimates of one month's estimated IFC collections Collections and, in the case of any such Third-Party Collector which does not have an unsecured debt rating of at least BBB- or the equivalent, maintain a deposit or comparable credit security equal to such one month's estimated IFC Collections as provided in the Tariffs. The Servicer shall update the records described in clauses (iii) and (iv) above no less frequently than (A) monthly in the case of any such Third-Party Collector with expected monthly IFC xxxxxxxx of greater than or equal to $5,000,000 and (B) quarterly in each other case.