Common use of Monthly Reconciliation Clause in Contracts

Monthly Reconciliation. (a) Except as set forth in Section 7.07(b), on each Business Day during each Due Period that Principal Collections are received in the Principal Collection Account with respect to any Loan in the Loan Pool, the Servicer will determine the Outstanding Loan Balance and the principal amount of the portion of such Loan not owned by the Issuer (if any) with respect to such Loan. (b) Prior to (i) a payment default on the related Loan (and in the case of Asset Based Revolvers, a payment default shall mean any failure to make a payment on the date such payment is due and such failure continues for more than one calendar day), (ii) a Servicer Default, (iii) an Event of Default or (iv) an Accelerated Amortization Event, on each Monthly Reconciliation Date, the Servicer will determine the Outstanding Loan Balance and principal amount of the portion of such Loan owned by the Originator, its Affiliate special purpose entities under the Warehouse Facilities and any co-lenders under the related facility (if any) with respect to each Revolving Loan secured by Collateral (but specifically excluding any Revolving Loan that is not secured by any Collateral) in the Loan Pool, and on and as of such date will determine the net effect of the Principal Collections received from, and payments from the Principal Collection Account representing new advances made to, the related Obligor during such Due Period. Notwithstanding the foregoing, the Servicer will maintain the underlying data of all Principal Collections received and payments or advances made with respect to any Revolving Loan secured by Collateral from the Principal Collection Account on each day during each Due Period, and shall make such underlying data available pursuant to and in accordance with the provisions of Section 9.03.

Monthly Reconciliation. (a) Except as set forth in Section 7.07(b), on each Business Day during each Due Period that Principal Collections are received in the Principal Collection Account with respect to any Loan in the Loan Pool, the Servicer will determine the Outstanding Loan Balance and the principal amount of the portion of such Loan not owned by the Issuer (if any) with respect to such Loan. (b) Prior to (i) a payment default on the related Loan (and in the case of Asset Based Revolvers, a payment default shall mean any failure to make a payment on the date such payment is due and such failure continues for more than one calendar day), (ii) a Servicer Default, Default or (iii) an Event of Default or (iv) an Accelerated Amortization EventDefault, on the last day of each Monthly Reconciliation DateDue Period, the Servicer will determine the Outstanding Loan Balance and principal amount of the portion of such Loan owned by the Originator, its Affiliate special purpose entities under the Warehouse Facilities and any co-lenders under the related facility (if any) with respect to each Revolving Loan secured by Collateral Related Property (but specifically excluding any Revolving Loan that is not secured by any CollateralRelated Property) in the Loan Pool, and on and as of such date will determine the net effect of the Principal Collections received from, and payments from the Principal Collection Account representing new advances made to, the related Obligor during such Due Period. Notwithstanding the foregoing, the Servicer will maintain the underlying data of all Principal Collections received and payments or advances made with respect to any Revolving Loan secured by Collateral Related Property from the Principal Collection Account on each day during each Due Period, and shall make such underlying data available pursuant to and in accordance with the provisions of Section 9.03.

Monthly Reconciliation. (ax) Except Xxxxxt as set forth in Section subsection 7.07(b), on each Business Day during each Due Period that Principal Collections are received in the Principal Collection Account with respect to any Loan in the Loan Pool, the Servicer will determine the Outstanding Loan Balance and the principal amount of the portion of such Loan not owned owed by the Issuer (if any) with respect to such Loan. (b) Prior to (i1) a payment default on the related Loan (and in the case of Asset Based Revolvers, a payment default shall mean any failure to make a payment on the date such payment is due and such failure continues for more than one (1) calendar day), (ii2) the existence and continuance of a Liquidity Factor Reduction Event, (3) a Servicer Default, (iii4) an Event of Default or (iv5) an Accelerated Amortization Event, on each Monthly Reconciliation Date, the Servicer will determine the Outstanding Loan Balance and principal amount of the portion of such Loan not owned by the Originator, its Affiliate special purpose entities under the Warehouse Facilities and any co-lenders under the related facility Issuer (if any) with respect to each Revolving Loan secured by Collateral (but specifically excluding any Revolving Loan that is not secured by any Collateral) in the Loan Pool, and on and as of such date will determine the net effect of the Principal Collections received from, and payments from the Principal Collection Account representing new advances made to, the related Obligor during such Due Period. Notwithstanding the foregoing, the Servicer will maintain the underlying data of all Principal Collections received and payments or advances made with respect to any Revolving Loan secured by Collateral from the Principal Collection Account on each day during each Due Period, and shall make such underlying data available pursuant to and in accordance with the provisions of Section 9.03.

Monthly Reconciliation. (a) Except as set forth in Section 7.07(b), on each Business Day during each Due Period that Principal Collections are received in the Principal Collection Account with respect to any Loan in the Loan Pool, the Servicer will determine the Outstanding Loan Balance and the principal amount of the portion of such Loan not owned owed by the Issuer (if any) with respect to such Loan. (b) Prior to (i) a payment default on the related Loan (and in the case of Asset Based Revolvers, a payment default shall mean any failure to make a payment on the date such payment is due and such failure continues for more than one (1) calendar day), (ii) a Servicer Default, (iii) an Event of Default or (iv) an Accelerated Amortization Event, on each Monthly Reconciliation Date, the Servicer will determine the Outstanding Loan Balance and principal amount of the portion of such Loan not owned by the Originator, its Affiliate special purpose entities under the Warehouse Facilities and any co-lenders under the related facility Issuer (if any) with respect to each Revolving Loan secured by Collateral (but specifically excluding any Revolving Loan that is not secured by any Collateral) in the Loan Pool, and on and as of such date will determine the net effect of the Principal Collections received from, and payments from the Principal Collection Account representing new advances made to, the related Obligor during such Due Period. Notwithstanding the foregoing, the Servicer will maintain the underlying data of all Principal Collections received and payments or advances made with respect to any Revolving Loan secured by Collateral from the Principal Collection Account on each day during each Due Period, and shall make such underlying data available pursuant to and in accordance with the provisions of Section 9.03.

Monthly Reconciliation. (a) Except as set forth in Section 7.07(b), on each Business Day during each Due Period that Principal Collections are received in the Principal Collection Account with respect to any Loan in the Loan Pool, the Servicer will determine the Outstanding Loan Balance and the principal amount of the portion of such Loan not owned by the Issuer (if any) with respect to such Loan. (b) Prior to (i) a payment default on the related Loan (and in the case of Asset Based Revolvers, a payment default shall mean any failure to make a payment on the date such payment is due and such failure continues for more than one calendar day), (ii) a Servicer Default, (iii) an Event of Default or (iv) an Accelerated Amortization Event, on each Monthly Reconciliation Date, the Servicer will determine the Outstanding Loan Balance and principal amount of the portion of such Loan not owned by the Originator, its Affiliate special purpose entities under the Warehouse Facilities and any co-lenders under the related facility Issuer (if any) with respect to each Revolving Loan secured by Collateral (but specifically excluding any Revolving Loan that is not secured by any Collateral) in the Loan Pool, and on and as of such date will determine the net effect of the Principal Collections received from, and payments from the Principal Collection Account representing new advances made to, the related Obligor during such Due Period. Notwithstanding the foregoing, the Servicer will maintain the underlying data of all Principal Collections received and payments or advances made with respect to any Revolving Loan secured by Collateral from the Principal Collection Account on each day during each Due Period, and shall make such underlying data available pursuant to and in accordance with the provisions of Section 9.03.

Monthly Reconciliation. (a) Except as set forth in Section 7.07(b), on each Business Day during each Due Period that Principal Collections are received in the Principal Collection Account with respect to any Loan in the Loan Pool, the Servicer will determine the Outstanding Loan Balance and the principal amount of the portion of such Loan not owned by the Issuer (if any) with respect to such Loan. (b) Prior to (i) a payment default on the related Loan (and in the case of Asset Based Revolvers, a payment default shall mean any failure to make a payment on the date such payment is due and such failure continues for more than one calendar day), (ii) a Servicer Default, (iii) an Event of Default or (iv) an Accelerated Amortization Event, on each Monthly Reconciliation Date, the Servicer will determine the Outstanding Loan Balance and principal amount of the portion of such Loan owned by the Originator, its Affiliate special purpose entities under the Warehouse Wareho use Facilities and any co-lenders under the related facility (if any) with respect to each Revolving Loan secured by Collateral (but specifically excluding any Revolving Loan that is not secured by any Collateral) in the Loan Pool, and on and as of such date will determine the net effect of the Principal Collections received from, and payments from the Principal Collection Account representing new advances made to, the related Obligor during such Due Period. Notwithstanding the foregoing, the Servicer will maintain the underlying data of all Principal Collections received and payments or advances made with respect to any Revolving Loan secured by Collateral from the Principal Collection Account on each day during each Due Period, and shall make such underlying data available pursuant to and in accordance with the provisions of Section 9.03.

Monthly Reconciliation. (a) Except as set forth in Section 7.07(b), on each Business Day during each Due Period that Principal Collections are received in the Principal Collection Account with respect to any Loan in the Loan Pool, the Servicer will determine the Outstanding Loan Balance and the principal amount of the portion of such Loan not owned by the Issuer (if any) with respect to such Loan. (b) Prior to (i) a payment default on the related Loan (and in the case of Asset Based Revolvers, a payment default shall mean any failure to make a payment on the date such payment is due and such failure continues for more than one calendar dayfive Business Days), (ii) a Servicer Default, Default or (iii) an Event of Default or (iv) an Accelerated Amortization EventDefault, on the last day of each Monthly Reconciliation DateDue Period, the Servicer will determine the Outstanding Loan Balance and principal amount of the portion of such Loan owned by the Originator, its Affiliate special purpose entities under the Warehouse Facilities and any co-lenders under the related facility (if any) with respect to each Revolving Loan secured by Collateral Related Property (but specifically excluding any Revolving Loan that is not secured by any CollateralRelated Property) in the Loan Pool, and on and as of such date will determine the net effect of the Principal Collections received from, and payments from the Principal Collection Account representing new advances made to, the related Obligor during such Due Period. Notwithstanding the foregoing, the Servicer will maintain the underlying data of all Principal Collections received and payments or advances made with respect to any Revolving Loan secured by Collateral Related Property from the Principal Collection Account on each day during each Due Period, and shall make such underlying data available pursuant to and in accordance with the provisions of Section 9.03.

Monthly Reconciliation. (a) Except as set forth in Section 7.07(b), on each Business Day during each Due Period that Principal Collections are received in the Principal Collection Account with respect to any Loan in the Loan Pool, the Servicer will determine the Outstanding Loan Balance and the principal amount of the portion of such Loan not owned by the Issuer (if any) with respect to such Loan. (b) Prior to (i) a payment default on the related Loan (and in the case of Asset Based Revolvers, a payment default shall mean any failure to make a payment on the date such payment is due and such failure continues for more than one (1) calendar day), (ii) a Servicer Default, (iii) an Event of Default or (iv) an Accelerated Amortization Event, on each Monthly Reconciliation Date, the Servicer will determine the Outstanding Loan Balance and principal amount of the portion of such Loan not owned by the Originator, its Affiliate special purpose entities under the Warehouse Facilities and any co-lenders under the related facility Issuer (if any) with respect to each Revolving Loan secured by Collateral (but specifically excluding any Revolving Loan that is not secured by any Collateral) in the Loan Pool, and on and as of such date will determine the net effect of the Principal Collections received from, and payments from the Principal Collection Account representing new advances made to, the related Obligor during such Due Period. Notwithstanding the foregoing, the Servicer will maintain the underlying data of all Principal Collections received and payments or advances made with respect to any Revolving Loan secured by Collateral from the Principal Collection Account on each day during each Due Period, and shall make such underlying data available pursuant to and in accordance with the provisions of Section 9.03.

Monthly Reconciliation. (a) Except as set forth in Section subsection 7.07(b), on each Business Day during each Due Period that Principal Collections are received in the Principal Collection Account with respect to any Loan in the Loan Pool, the Servicer will determine the Outstanding Loan Balance and the principal amount of the portion of such Loan not owned owed by the Issuer (if any) with respect to such Loan. (b) Prior to (i1) a payment default on the related Loan (and in the case of Asset Based Revolvers, a payment default shall mean any failure to make a payment on the date such payment is due and such failure continues for more than one (1) calendar day), (ii2) the existence and continuance of a Liquidity Factor Reduction Event, (3) a Servicer Default, (iii4) an Event of Default or (iv5) an Accelerated Amortization Event, on each Monthly Reconciliation Date, the Servicer will determine the Outstanding Loan Balance and principal amount of the portion of such Loan not owned by the Originator, its Affiliate special purpose entities under the Warehouse Facilities and any co-lenders under the related facility Issuer (if any) with respect to each Revolving Loan secured by Collateral (but specifically excluding any Revolving Loan that is not secured by any Collateral) in the Loan Pool, and on and as of such date will determine the net effect of the Principal Collections received from, and payments from the Principal Collection Account representing new advances made to, the related Obligor during such Due Period. Notwithstanding the foregoing, the Servicer will maintain the underlying data of all Principal Collections received and payments or advances made with respect to any Revolving Loan secured by Collateral from the Principal Collection Account on each day during each Due Period, and shall make such underlying data available pursuant to and in accordance with the provisions of Section 9.03.