Monthly Summary. At the end of each Billing Month the total Securitization Charges collected are summarized and reported to the Trustee. (Monthly Servicer's Report) Securitization Charge Rate Changes Resulting from a True-Up Adjustment The first two Billing Months after a Securitization Charge Rate change resulting from an annual or quarterly true-up, special processing is required to (a) reflect the fact that during the Billing Month prior to the change the Securitization Charge was billed under the prior Securitization Charge Rate and (b) amounts collected for the first two Billing Months after the Securitization Charge Rate change will reflect payments for both old and new billing amounts resulting from the prior and new Securitization Charge Rates.
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Samples: Servicing Agreement (Consumers Energy Co Financing V), Servicing Agreement (Consumers Funding LLC)
Monthly Summary. At the end of each Billing Month the total Securitization Charges collected are summarized and reported to the Trustee. (Monthly Servicer's ’s Report) Securitization Charge Rate Changes Resulting from a True-Up Adjustment The first two Billing Months after a Securitization Charge Rate change resulting from an annual or quarterly true-up, special processing is required to (a) reflect the fact that during the Billing Month prior to the change the Securitization Charge was billed under the prior Securitization Charge Rate and (b) amounts collected for the first two Billing Months after the Securitization Charge Rate change will reflect payments for both old and new billing amounts resulting from the prior and new Securitization Charge Rates.
Appears in 2 contracts
Samples: Securitization Property Servicing Agreement (Consumers Energy Co), Securitization Property Servicing Agreement (Consumers Energy Co)
Monthly Summary. At the end of each Billing Month the total Securitization Charges collected are summarized and reported to the Trustee. (Monthly Servicer's Report) Securitization Charge Rate Changes Resulting from a True-Up Adjustment The first two Billing Months after a Securitization Charge Rate rate change resulting from an annual or quarterly true-up, special processing is required to (a) reflect the fact that during the Billing Month prior to the change the Securitization Charge was billed under the prior Securitization Charge Rate old rate and (b) amounts collected for the first two Billing Months months after the Securitization Charge Rate change will reflect payments for both old and new billing amounts resulting from the prior old and new rates. First Rate-Change Billing Month To calculate the appropriate Securitization Charge Rates.Ratio for the first Billing Month after the rate change: Collections Applicable to Prior Rate
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