Common use of Monthly Noteholders’ Statement Clause in Contracts

Monthly Noteholders’ Statement. (a) On or before each Settlement Date, the Trustee shall make available to each Noteholder, each Rating Agency, and each Notice Person via the Trustee’s website a statement substantially in the form of Exhibit B hereto prepared by the Servicer and delivered to the Trustee on the preceding Determination Date and setting forth, among other things, the following information: (i) the total amount distributed to holders of Notes; (ii) the amount of such distribution allocable to principal; (iii) the amount of such distribution allocable to Trustee Fees and Expenses, Custodian fees and expenses, Monthly Interest, Deficiency Amounts, Additional Interest and the Fee Amounts, respectively; (iv) the aggregate Outstanding Balance of Receivables which were Delinquent Receivables as of the end of the preceding Monthly Period; (v) the aggregate Outstanding Balance of Receivables which were Defaulted Receivables as of the end of the preceding Monthly Period; (vi) the Required Spread Maintenance Reserve Amount and the balance on deposit in the Spread Maintenance Account as of the end of the day on the Settlement Date; (vii) outstanding Note Balance, as of the end of the day on the Settlement Date; (viii) increases and decreases in the Notes during the related Settlement Period, and the average daily balance of the Notes for the related Settlement Period; (ix) the amount of the Servicing Fee for the related Settlement Period; (x) the Note Rate for the related Settlement Period; and (xi) if applicable, the date on which the Rapid Amortization Period commenced.

Monthly Noteholders’ Statement. (a) On or before each Settlement DateThe Master Servicer shall, the Trustee shall make available to each Noteholder, each Rating Agency, and each Notice Person via with cooperation of the Trustee’s website , prepare a monthly statement substantially in the form of Exhibit B hereto prepared by C or in such form as may be specified in the Series Supplement for a Series of Notes (each, a “Monthly Noteholders’ Statement”). The Master Servicer and delivered shall deliver to the Trustee and each Rating Agency rating a Series of Notes each such Monthly Noteholders’ Statement with respect to such Series of Notes on each Payment Date for such Series or on such dates as are specified in the Series Supplement for a Series of Notes setting forth the following information (which, in the case of clauses (iii), (iv) and (v) below, shall be expressed as a dollar amount per $1,000 of the original Principal Amount of the Notes of such Series and, in the case of clause (viii) shall be stated on an aggregate basis and on the preceding Determination Date and basis of a dollar amount per $1,000 of the original Principal Amount of the Notes of such Series) or setting forth, among other things, forth such information as may be required by the following informationSeries Supplement for a Series of Notes: (i) the total aggregate amount distributed to holders of NotesInterest Collections processed since the prior Payment Date, the aggregate amount of Principal Collections processed during the Related Month and the aggregate amount of Collections processed during such periods; (ii) the Invested Percentage with respect to Interest Collections and Principal Collections for such Series on the last day of the Related Month; (iii) the total amount to be distributed to Noteholders of such Series on the next succeeding Payment Date; (iv) the amount of such distribution allocable to principalprincipal on the Notes of such Series; (iiiv) the amount of such distribution allocable to Trustee Fees and Expenses, Custodian fees and expenses, Monthly Interest, Deficiency Amounts, Additional Interest and interest on the Fee Amounts, respectivelyNotes of such Series; (ivvi) the aggregate Outstanding Balance amount of Receivables which were Delinquent Receivables any drawing under any Enhancement, if any, for such Series for such Payment Date; (vii) the amount of the Monthly Servicing Fee for such Series for such Payment Date; (viii) the amount available under the applicable Enhancement, if any, for such Series as of the close of business on such Payment Date after giving effect to any drawings on the applicable Enhancement and payments to the applicable Enhancement Provider on such Payment Date; (ix) the ratio of the amount available under the applicable Enhancement, if any, to the Invested Amount for such Series as of the close of business on such Payment Date after giving effect to any drawings on the applicable Enhancement and payments to the applicable Enhancement Provider on such Payment Date; (x) the Pool Factor, if any, for such Series as of the end of the preceding Monthly Period; (v) the aggregate Outstanding Balance of Receivables which were Defaulted Receivables as of the end of the preceding Monthly Period; (vi) the Required Spread Maintenance Reserve Amount and the balance on deposit in the Spread Maintenance Account as of the end of the day on the Settlement Record Date with respect to such Payment Date; (viixi) outstanding Note Balancewhether, as to the knowledge of the end Master Servicer, any Liens exist with respect to any of the day on Collateral which are not permitted under the Settlement Related Documents; (xii) the Aggregate Asset Amount and the amount of any Asset Amount Deficiency; (xiii) the Controlled Distribution Amount and the Carryover Controlled Amortization Amount (as defined for any Series or class of Notes in the applicable Series Supplement) for such Payment Date; (viiixiv) increases and decreases in the Notes during the related Settlement Period, Net Book Value of Program Vehicles and the average daily balance Net Book Value of Non-Program Vehicles from each Manufacturer as of the Notes for last day of the related Settlement PeriodRelated Month; (ixxv) the amount ratios of the Servicing Fee for Non-Program Vehicles and the related Settlement PeriodProgram Vehicles, respectively, to all Vehicles; (xxvi) the Note Rate for number of Vehicles of each Manufacturer as of the related Settlement Periodlast date of the Related Month; (xvii) the average age of all Program Vehicles and average age of all Non-Program Vehicles as of the last day of the Related Month; (xviii) the average total monthly Depreciation Charges per Program Vehicle and per Non-Program Vehicle during the Related Month; and (xixix) if applicablewith respect to any Series, the date on which information specified in the Rapid Amortization Period commencedrelated Series Supplement. On each Payment Date for a Series of Notes or at such other times as are specified in the Series Supplement for a Series of Notes, the Trustee shall forward to each Noteholder of record of all Outstanding Series, the Paying Agent (if other than the Trustee), any Note Owner, upon provision of evidence satisfactory to the Trustee as to its ownership interest, and any Enhancement Provider, and the Master Servicer, the Monthly Noteholders’ Statement applicable to each such Noteholders’ Series of Notes prepared by the Master Servicer.

Monthly Noteholders’ Statement. (a) On or before each Settlement Date, the Trustee shall make available to each Noteholder, each Rating Agency, Noteholder and each Notice Person via the Trustee’s website a statement substantially in the form of Exhibit B hereto prepared by the Servicer and delivered to the Trustee on the preceding Determination Date and setting forth, among other things, the following information: (i) the total amount distributed to holders of NotesNoteholders; (ii) the amount of such distribution allocable to principal; (iii) the amount of such distribution allocable to Trustee Fees and Expenses, Custodian fees and expenses, Monthly Interest, Deficiency Amounts, Additional Interest and the Fee Amounts, respectively; (iv) the aggregate Outstanding Balance of Receivables which were Delinquent Receivables as of the end of the preceding Monthly Period; (v) the aggregate Outstanding Balance of Receivables which were Defaulted Receivables as of the end of the preceding Monthly Period; (vi) the Required Spread Maintenance Reserve Amount and the balance on deposit in the Spread Maintenance Account as of the end of the day on the Settlement Date; (vii) outstanding Note Balance, as of the end of the day on the Settlement Date; (viii) increases and decreases in the Notes during the related Settlement Period, and the average daily balance of the Notes for the related Settlement Period; (ix) the amount of the Servicing Fee for the related Settlement Period; (x) the Note Rate for the related Settlement Period; and (xi) if applicable, the date on which the Rapid Amortization Period commenced.

Monthly Noteholders’ Statement. (a) On or before each Settlement Payment Date, the Trustee shall make available forward to each NoteholderNoteholder of record of all outstanding Series, each Rating Agencythe Paying Agent (if other than the Trustee), any Note Owner, upon provision of evidence satisfactory to the Trustee as to its ownership interest, and any Enhancement Provider, and the Servicer, upon a single submission by a Note Owner of evidence satisfactory to the Servicer as to such Note Owner's ownership interest, shall forward to such Note Owner on each Notice Payment Date thereafter until otherwise instructed or until such Person via the Trustee’s website ceases to be a Note Owner, a statement substantially in the form of Exhibit B hereto D (each, a "Monthly Noteholders' Statement") prepared by the Servicer and Servicer, delivered to the Trustee and the Rating Agencies and setting forth the following information (which, in the case of clauses (iii), (iv) and (v) below, shall be expressed as a dollar amount per $1,000 of the original principal amount of the Notes of such Series and, in the case of clause (viii) shall be stated on an aggregate basis and on the preceding Determination Date and setting forth, among other things, basis of a dollar amount per $1,000 of the following information:original principal amount of the Notes of such Series): (i) the total aggregate amount distributed to holders of NotesInterest Collections processed since the prior Payment Date, the aggregate amount of Principal Collections processed during the -42- 50 Related Month and the aggregate amount of Collections processed during such periods; (ii) the Invested Percentage with respect to Interest Collections and Principal Collections for such Series on the last day of the Related Month; (iii) the total amount to be distributed to Noteholders of such Series on the next succeeding Payment Date; (iv) the amount of such distribution allocable to principalprincipal on the Notes of such Series; (iiiv) the amount of such distribution allocable to Trustee Fees and Expenses, Custodian fees and expenses, Monthly Interest, Deficiency Amounts, Additional Interest and interest on the Fee Amounts, respectivelyNotes of such Series; (ivvi) the aggregate Outstanding Balance amount of Receivables which were Delinquent Receivables any drawing under any Enhancement, if any, for such Series for such Payment Date; (vii) the amount of the Monthly Servicing Fee for such Series for such Payment Date; (viii) the amount available under the applicable Enhancement, if any, for such Series as of the close of business on such Payment Date after giving effect to any drawings on the applicable Enhancement and payments to the applicable Enhancement Provider on such Payment Date; (ix) the ratio of the amount available under the applicable Enhancement, if any, to the Invested Amount for such Series as of the close of business on such Payment Date after giving effect to any drawings on the applicable Enhancement and payments to the applicable Enhancement Provider on such Payment Date; (x) the Pool Factor, if any, for such Series as of the end of the preceding Monthly Period; (v) the aggregate Outstanding Balance of Receivables which were Defaulted Receivables as of the end of the preceding Monthly Period; (vi) the Required Spread Maintenance Reserve Amount and the balance on deposit in the Spread Maintenance Account as of the end of the day on the Settlement Record Date with respect to such Payment Date; (viixi) outstanding Note Balancewhether, as to the knowledge of the end Servicer, any Liens exist with respect to any of the day on Collateral which are not permitted under the Settlement Related Documents; (xii) the Aggregate Asset Amount and the amount of any Asset Amount Deficiency; (xiii) the Controlled Distribution Amount and the Carryover Controlled Amortization Amount (as defined for any -43- 51 Series or class of Notes in the applicable Supplement) for such Payment Date; (viiixiv) increases and decreases in the Notes during the related Settlement Period, Net Book Value of Program Vehicles and the average daily balance Net Book Value of Non-Program Vehicles from each Manufacturer as of the Notes for last day of the related Settlement PeriodRelated Month; (ixxv) the amount ratios of the Servicing Fee for Non-Program Vehicles and the related Settlement PeriodProgram Vehicles, respectively, to all Vehicles; (xxvi) the Note Rate for number of Vehicles of each Manufacturer as of the related Settlement Periodlast date of the Related Month; (xvii) the average age of all Program Vehicles and average age of all Non-Program Vehicles as of the last day of the Related Month; (xviii) the average total monthly Depreciation Charges per Program Vehicle and per Non-Program Vehicle during the Related Month; and (xixix) if applicablewith respect to any Series, the date on which information specified in the Rapid Amortization Period commencedrelated Supplement.

Monthly Noteholders’ Statement. (a) On or before each Settlement DateThe Master Servicer shall, the Trustee shall make available to each Noteholder, each Rating Agency, and each Notice Person via with cooperation of the Trustee’s website , prepare a monthly statement substantially in the form of Exhibit B hereto prepared by D of the Series Supplement for the Series 2011-2 Notes (each, a “Monthly Noteholders’ Statement”). The Master Servicer and delivered shall deliver to the Trustee each such Monthly Noteholders’ Statement with respect to the Series 2011-2 Notes on or before the preceding Determination fourth Business Day before each Payment Date and (unless otherwise agreed to by the Trustee), in a Microsoft Excel electronic file (or similar electronic file), setting forth, among other thingsinter alia, the following information:information (which, in the case of clauses (iv), (v) and (vi) below, shall be expressed as a dollar amount per $1,000 of the original Principal Amount of the Series 2011-2 Notes and, in the case of clause (ix) shall be stated on an aggregate basis and on the basis of a dollar amount per $1,000 of the original Principal Amount of the Series 2011-2 Notes): (i) the total aggregate amount distributed to holders of NotesSeries 2011-2 Interest Collections processed since the prior Payment Date, the aggregate amount of Principal Collections processed during the Related Month and, if applicable, during the related Series 2011-2 Amortization Principal Collection Period, and the aggregate amount of Collections processed during such periods; (ii) the amount of such distribution allocable to principalSeries 2011-2 Accrued Interest Amount and the Series 2011-2 Interest Amount for the next Payment Date; (iii) the amount of such distribution allocable Series 2011-2 Invested Percentage with respect to Trustee Fees Series 2011-2 Interest Collections and Expenses, Custodian fees and expenses, Monthly Interest, Deficiency Amounts, Additional Interest and Principal Collections for the Fee Amounts, respectivelySeries 2011-2 Notes; (iv) the aggregate Outstanding Balance total amount to be distributed to Noteholders of Receivables which were Delinquent Receivables as of Series 2011-2 Notes on the end of the preceding Monthly Periodnext succeeding Payment Date; (v) the aggregate Outstanding Balance of Receivables which were Defaulted Receivables as amount of the end of distribution allocable to principal on the preceding Monthly PeriodSeries 2011-2 Notes on the next Payment Date; (vi) the Required Spread Maintenance Reserve Amount and the balance on deposit in the Spread Maintenance Account as amount of the end of the day distribution allocable to interest on the Settlement Series 2011-2 Notes on the next Payment Date; (vii) outstanding Note Balancethe amount of any drawing under any Enhancement, as of if any, for Series 2011-2 Notes for the end of the day on the Settlement next Payment Date; (viii) increases and decreases in the Notes during amount of the related Settlement PeriodSeries 2011-2 Monthly Servicing Fee, the Series 2011-2 Monthly Supplemental Servicing Fee, the Group VIII Monthly Servicing Fee and the average daily balance of the Notes Group VIII Supplemental Servicing Fee for the related Settlement Periodnext Payment Date; (ix) the amount Series 2011-2 Enhancement Amount, the Series 2011-2 Enhancement Deficiency, if any, the Series 2011-2 Minimum Enhancement Amount, the Series 2011-2 Required Enhancement Percentage, the Series 2011-2 DBRS Required Enhancement Percentage, the Series 2011-2 ▇▇▇▇▇’▇ Required Enhancement Percentage, the Series 2011-2 Liquidity Amount, the Series 2011-2 Minimum Liquidity Amount, the Series 2011-2 Cash Liquidity Amount, the Series 2011-2 Letter of Credit Amount, if any, the Series 2011-2 Letter of Credit Liquidity Amount, if any, the Series 2011-2 Minimum Letter of Credit Amount, the Series 2011-2 Available Subordinated Amount, the Series 2011-2 Minimum Subordinated Amount and the Series 2011-2 Cash Collateral Account Surplus, in each case, as of the Servicing Fee for last day of the related Settlement PeriodRelated Month after giving effect to any expected drawings on any applicable Enhancement and payments to the applicable Enhancement Provider on the next Payment Date; (x) the Note Rate ratio of the amount available under the applicable Enhancement, to the Series 2011-2 Invested Amount as of the next Payment Date after giving effect to any expected drawings on the applicable Enhancement and payments to the applicable Enhancement Provider on the next Payment Date; (xi) the amount of any LOC Disbursements expected to be made with respect to the next Payment Date; (xii) the Series 2011-2 Monthly Interest Shortfall, if any, with respect to the next Payment Date; (xiii) the Series 2011-2 Invested Amount, the Series 2011-2 Invested Percentage and the Group VIII Aggregate Invested Amount with respect to the next Payment Date; (xiv) the Retained Interest Amount, if any, and the Retained Interest Percentage with respect to all outstanding Group VIII Series of Notes as of the close of business on the last day of the Related Month; (xv) the total amount of Vehicle Disposition Losses during the Related Month; (xvi) the total amount of Vehicle Disposition Recoveries during the Related Month; (xvii) whether, to the knowledge of the Master Servicer, any Liens exist with respect to any of the Collateral which are not permitted under the Related Documents; (xviii) whether, to the knowledge of the Master Servicer, any Lease Event of Default or Servicer Default has occurred; (xix) whether, to the knowledge of the Master Servicer, any Amortization Event or Potential Amortization Event with respect to the Series 2011-2 Notes has occurred; (xx) the Required Asset Amount, the Aggregate Asset Amount, the amount of any Asset Amount Deficiency and the Exchange Agreement Group VIII Rights Value, in each case, as of the last day of the Related Month; (xxi) the Net Book Value of Program Vehicles and the Net Book Value of Non-Program Vehicles from each Manufacturer, the rating of each such Manufacturer and the name of any Bankrupt Manufacturer, in each case, as of the last day of the Related Month; (xxii) the ratios of the Non-Program Vehicles and the Program Vehicles, respectively, to all Group VIII Vehicles, and the Program Vehicle Percentage, in each case, as of the last day of the Related Month; (xxiii) the number of Group VIII Vehicles of each Manufacturer as of the last day of the Related Month; (xxiv) the average age of all Program Vehicles and average age of all Non-Program Vehicles as of the last day of the Related Month; (xxv) the average total monthly Depreciation Charges per Program Vehicle and per Non-Program Vehicle during the Related Month; (xxvi) (x) the Market Value Adjustment Percentage as of the related Determination Date, (y) the Measurement Month Average and the aggregate Market Value of Non-Program Vehicles as of the last day of the Related Month and (z) the Measurement Month Average used to determine the Market Value Adjustment Percentage as of the related Determination Date if different than the Measurement Month Average as of the last day of the Related Month; (xxvii) the Third-Party Market Value Adjustment Percentage, if any, as of the immediately preceding Third-Party Market Value Determination Date (and, if such date is a Third-Party Market Value Determination Date, such date); (xxviii) the aggregate Capitalized Cost for all Group VIII Vehicles (other than Group VIII Vehicles subject to any Vehicle Disposition Program at the time of purchase thereof) as of the last day of the Related Month, as a percentage of the aggregate MSRP (Manufacturer Suggested Retail Price) of all such Group VIII Vehicles (determined as of the time of purchase thereof by RCFC); (xxix) with respect to each Manufacturer of Group VIII Vehicles, the percentage concentration of Group VIII Vehicles of such Manufacturer (i.e., the aggregate Net Book Value of Group VIII Vehicles of such Manufacturer as a percentage of the aggregate Net Book Value of all Group VIII Vehicles) compared to the percentage concentration of all Vehicles of such Manufacturer in RCFC’s fleet (i.e., the aggregate Net Book Value of Vehicles of such Manufacturer owned by RCFC as a percentage of the aggregate Net Book Value of all Vehicles owned by RCFC); (xxx) (i) prior to a Permitted Change in Control Transaction, in each case, to the extent relevant to a financial covenant then applicable pursuant to the definition of “Servicer Financial Covenant Event of Default”, (A) the Leverage Ratio of the Master Servicer and its Subsidiaries as of the related Determination Date, (B) as of the date used for purposes of the determination of such Leverage Ratio, the amount of Corporate Debt and Corporate EBITDA, (C) the Interest Coverage Ratio of the Master Servicer and its Subsidiaries for the most recent period of four consecutive Fiscal Quarters ending prior to the related Settlement PeriodDetermination Date (D) for purposes of the determination of such Interest Coverage Ratio, the amount of Corporate EBITDA and Corporate Interest Expense for the applicable period and (E) such other information as is reasonably relevant to a financial covenant then applicable pursuant to the definition of “Servicer Financial Covenant Event of Default”; and (ii) after a Permitted Change in Control Transaction, such information relative to Permitted Change in Control Counterparty Financial Covenants as agreed pursuant to this Supplement (it being understood that such information shall be agreed by the Issuer and the Controlling Noteholder in connection with the determination of any such Specified Change in Control Counterparty Financial Covenants pursuant to Section 8.12 hereof); and (xixxxi) if applicableany other information required to be included in the Monthly Noteholders’ Statement pursuant to the terms of Series Supplement for the Series 2011-2 Notes. On each Payment Date for the Series 2011-2 Notes or at such other times as are specified in the Series Supplement for the Series 2011-2 Notes, the date on which Trustee shall forward to each Noteholder of record of Series 2011-2 Notes and the Rapid Amortization Period commencedPaying Agent (if other than the Trustee), the Monthly Noteholders’ Statement for the Series 2011-2 Notes prepared by the Master Servicer.

Monthly Noteholders’ Statement. (a) On The Required Persons may at any Date after the Series 2007-A Closing Date, by giving prior notice of at least sixty (60) days, request that on or before each Settlement Payment Date, the Trustee shall make available forward to each Noteholder, with respect to each Noteholder’s interest, and to each Rating AgencyAgency and Notice Person, and each Notice Person via the Trustee’s website a statement substantially in the form of Exhibit B hereto prepared by the Servicer and delivered to the Trustee on the preceding Determination Date and setting forth, among other things, the following information: (i) the total amount distributed to holders Holders of Notes; (ii) the amount of such distribution allocable to principalMonthly Principal; (iii) the amount of such distribution allocable to Trustee Fees and Expenses, Custodian fees the Series 2007-A Servicing Fee and Servicer’s expenses, Monthly Interest, Deficiency Amounts, Additional Interest and the Fee AmountsAmount, respectively; (iv) the aggregate Outstanding Balance amount of Receivables which were Delinquent Receivables as of Series 2007-A Collections, received during the end of the preceding Monthly related Settlement Period; (v) the aggregate Outstanding Unpaid Principal Balance of Receivables which were Defaulted Receivables the Loans of the Series 2007-A Asset Pool, as of the end of the preceding Monthly Settlement Period; (vi) the Required Spread Maintenance Reserve Amount aggregate Unpaid Principal Balance of Loans of the Series 2007-A Asset Pool which were 1-30 days, 31-60 days, 61-90 days, 91-120 days, 121-180 days and more than 180 days delinquent, respectively, following cancellation of the balance on deposit related insurance policies in accordance with the Spread Maintenance Account Servicer’s then existing Credit and Collection Policy as of the end of the day on the preceding Settlement DatePeriod; (vii) outstanding Note Balancethe Delinquency Rate, the Series 2007-A Investor Default Amount, as of the end of the preceding Settlement Period; (viii) the Unpaid Principal Balance of the Notes, as of the end of the day on the Settlement Payment Date; (viiiix) increases Increases and decreases Decreases in the Notes during the related Settlement Interest Period, and the average daily balance of the Notes for the related Settlement Period; (ix) the amount of the Servicing Fee for the related Settlement Interest Period; (x) the Note Rate for the related Settlement Period; andInterest Period ending on the day before such Payment Date; (xi) if applicable, the date on which the Rapid Amortization Period commenced; and (xii) the Minimum Issuer Interest and the Available Issuer Interest for the Series 2007-A Asset Pool, as of the end of the preceding Settlement Period. (b) Annual Noteholders’ Tax Statement. On or before January 31 of each calendar year, beginning with the calendar year 2008, the Trustee shall distribute to each Person who at any time during the preceding calendar year was a Noteholder, a statement prepared by the Servicer and delivered to the Trustee containing the information required to be contained in the regular monthly report to Noteholders, as set forth in subclauses (i), (ii) and (iii) above, aggregated for such calendar year or the applicable portion thereof during which such Person was a Noteholder, together with such other customary or necessary information (consistent with the treatment of the Notes as debt) as requested by the Required Persons to enable the Noteholders to prepare their tax returns. Such obligations of the Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as in effect from time to time.

Monthly Noteholders’ Statement. (a) On or before each Settlement Date, the Trustee shall make available to each Noteholder, each Rating Agency, Noteholder and each Notice Person via the Trustee’s website a statement substantially in the form of Exhibit B hereto prepared by the Servicer and delivered to the Trustee on the preceding Determination Date and setting forth, among other things, the following information: (i) the total amount distributed to holders of NotesNoteholders; (ii) the amount of such distribution allocable to principal; (iii) the amount of such distribution allocable to Trustee Fees and Expenses, Custodian fees and expenses, Monthly Interest, Deficiency Amounts, Additional Interest and the Fee Amounts, respectively; (iv) the aggregate Outstanding Balance of Receivables which were Delinquent Receivables as of the end of the preceding Monthly Period; (v) the aggregate Outstanding Balance of Receivables which were Defaulted Receivables as of the end of the preceding Monthly Period; (vi) the Required Spread Maintenance Reserve Amount and the balance on deposit in the Spread Maintenance Account as of the end of the day on the Settlement Date; (vii) the outstanding Note Balance, as of the end of the day on the Settlement Date; (viii) increases and decreases in the Notes during the related Settlement Period, and the average daily balance of the Notes for the related Settlement Period; (ix) the amount of the Servicing Fee for the related Settlement Period; (x) the Note Rate for the related Settlement Period; and (xi) if applicable, the date on which the Rapid Amortization Period commenced.

Monthly Noteholders’ Statement. (a) On or before each Settlement Payment Date, the Trustee shall make available via its Website, initially located at www.jpmorgan.com/sfr to each Noteholder, with respect to each Noteh▇▇▇▇▇'▇ ▇▇▇▇▇▇▇▇ ▇▇▇ to each Rating Agency, and each Notice Person via the Trustee’s website Agency a statement substantially in the form of Exhibit B hereto E to this Series Supplement prepared by the Servicer and delivered to the Trustee on the preceding Determination Date and setting forth, among other things, the following information:information (which, in the case of subclauses (i), (ii) and (iii) below, shall be stated on the basis of an original principal amount of $1,000 per Note and, in the case of subclauses (ix), (x) and (xi) shall be stated on an aggregate basis and on the basis of an original principal amount of $1,000 per Note): (i) the total amount distributed to holders of Notes; (ii) the amount of such distribution allocable to principalClass A Monthly Principal, Class B Monthly Principal, Class C Monthly Principal and Class D Monthly Principal, respectively; (iii) the amount of such distribution allocable to Trustee Fees and Expenses, Custodian fees and expenses, Class A Monthly Interest, Class A Deficiency Amounts, Class A Additional Interest, Class B Monthly Interest, Class B Deficiency Amounts, Class B Additional Interest, Class C Monthly Interest, Class C Deficiency Amounts, Class C Additional Interest and the Fee AmountsClass D Monthly Interest, respectively; (iv) the amount of Collections of Principal Receivables received during the related Monthly Period and allocated in respect of the Class A Notes, Class B Notes, Class C Notes and Class D Notes, respectively; (v) the amount of Collections of Finance Charge Receivables received during the related Monthly Period and allocated in respect of the Class A Notes, Class B Notes. Class C Notes and Class D Notes, respectively; (vi) the aggregate Outstanding Balance amount of Principal Receivables, the Investor Interest, the Adjusted Investor Interest, the Class A Investor Interest, the Class A Adjusted Investor Interest, the Class B Investor Interest, the Class B Adjusted Investor Interest, the Class C Investor Interest, the Class C Adjusted Investor Interest, the Class D Investor Interest, the Floating Investor Percentage, the Class A Floating Allocation, the Class B Floating Allocation, the Class C Floating Allocation, the Class D Floating Allocation and the Fixed Investor Percentage with respect to the Principal Receivables which were Delinquent Receivables in the Trust as of the end of the preceding Monthly Period; (vvii) the aggregate Outstanding Balance outstanding balance of Receivables which were Defaulted Receivables 1-30 days, 31-60 days, 61-90 days, 91-120 days, 121-150 days and more than 150 days delinquent, respectively, following cancellation of the related insurance policies in accordance with the Servicer's then existing Guidelines as of the end of the preceding Monthly PeriodPeriod (or, if cancellation was delayed, whether due to a stay by reason of an Insured's bankruptcy or other reason, after the date the policy would have been cancelled in the absence of such delay); (viviii) the Required Spread Maintenance Reserve Aggregate Investor Default Amount and the balance on deposit in the Spread Maintenance Account as of the end of the day on preceding Monthly Period and the Settlement Class A Investor Default Amount, the Class B Investor Default Amount, the Class C Investor Default Amount and the Class D Investor Default Amount for the related Transfer Date; (viiix) the aggregate amount of Class A Investor Charge-Offs, Class B Investor Charge-Offs, Class C Investor Charge-Offs, Class D Investor Charge-Offs and other reductions in the absence of principal distributions in the Investor Interests for such Transfer Date; (x) the aggregate amount of Class A Investor Charge-Offs, Class B Investor Charge-Offs, Class C Investor Charge-Offs, Class D Investor Charge-Offs and other reductions in the absence of principal distributions in the Investor Interests deemed to have been reimbursed on such Transfer Date; (xi) outstanding Note Balanceprincipal balance of the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes, respectively, as of the end of the day on the Settlement Payment Date; (viiixii) increases and decreases in the Notes during the related Settlement Period, and the average daily balance of the Notes for the related Settlement Period[Reserved]; (ixxiii) the amount of the Class A Servicing Fee, the Class B Servicing Fee, the Class C Servicing Fee and the Class D Servicing Fee for such Transfer Date; (xiv) the related Settlement amount of Reallocated Class D Principal Collections, Reallocated Class C Principal Collections and Reallocated Class B Principal Collections with respect to such Payment Date; (xv) LIBOR for the Interest Period ending on the day before such Payment Date; (xvi) the Pool Factor as of the end of the immediately preceding Monthly Period; (xxvii) the Note Rate Available Accumulation Reserve Account Amount and the amount, if any, of funds required to be withdrawn from the Accumulation Reserve Account for such Transfer Date; (xviii) [Reserved]; (xix) the Class C Reserve Account Amount and the Annualized Excess Spread Amount; (xx) the amount of Class A Available Funds, Class B Available Funds, Class C Available Funds and Class D Available Funds on deposit in the Finance Charge Account on the related Settlement Transfer Date; (xxi) the date on which the Controlled Accumulation Period and/or the Rapid Amortization Period commenced; (xxii) [Reserved]; (xxiii) the amount of Class A Prior Period Interest, Class B Prior Period Interest, Class C Prior Period Interest and Class D Prior Period Interest accrued on the Notes; (xxiv) the aggregate outstanding principal amount of Deferred Payment Obligations as of the end of the prior Monthly Period, expressed in dollars and as a percentage of the outstanding principal amount of Receivables in the Trust Estate; (xxv) the aggregate outstanding principal amount of Receivables that have not been funded as of the end of the prior Monthly Period; and (xixxvi) if applicablesuch other items as are set forth in Exhibit F to this Series Supplement. (b) Annual Noteholders' Tax Statement. On or before January 31 of each calendar year, beginning with calendar year 2005, the date on Trustee shall distribute to each Person who at any time during the preceding calendar year was a Noteholder, a statement prepared by the Trustee containing the information required to be contained in the regular monthly report to Noteholders, as set forth in subclauses (i), (ii) and (iii) above, aggregated for such calendar year or the applicable portion thereof during which such Person was a Noteholder, together with such other customary information (consistent with the Rapid Amortization Period commencedtreatment of the Notes as debt) as the Trustee deems necessary or desirable to enable the Noteholders to prepare their tax returns. Such obligations of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time in effect.

Monthly Noteholders’ Statement. (a) On or before each Settlement Date, the Trustee shall make available to each Noteholder, each Rating Agency, and each Notice Person via the Trustee’s website a statement substantially in the form of Exhibit B hereto prepared by the Servicer and delivered to the Trustee on the preceding Determination Date and setting forth, among other things, the following information: (i) the total amount distributed to holders of Notes; (ii) the amount of such distribution allocable to principal; (iii) the amount of such distribution allocable to Trustee Fees and Expenses, Custodian fees and expenses, Monthly Interest, Deficiency Amounts, Additional Interest and the Fee Amounts, respectively; (iv) the aggregate Outstanding Balance of Receivables which were Delinquent Receivables as of the end of the preceding Monthly Period; (v) the aggregate Outstanding Balance of Receivables which were Defaulted Receivables as of the end of the preceding Monthly Period; (vi) the Required Spread Maintenance Reserve Required Amount and the balance on deposit in the Spread Maintenance Account as of the end of the day on the Settlement Date; (vii) outstanding Note Balance, as of the end of the day on the Settlement Date; (viii) increases and decreases in the Notes during the related Settlement Period, and the average daily balance of the Notes for the related Settlement Period; (ix) the amount of the Servicing Fee for the related Settlement Period; (x) the Note Rate for the related Settlement Period; and (xi) if applicable, the date on which the Rapid Amortization Period commenced.