Common use of Monthly Tape Clause in Contracts

Monthly Tape. On or before the third Business Day, but in no event later than the fifth calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.3. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette), and the Backup Servicer shall certify to the Security Insurer that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 9 contracts

Samples: Sale and Servicing Agreement (Arcadia Receivables Finance Corp), Sale and Servicing Agreement (Arcadia Receivables Finance Corp), Sale and Servicing Agreement (Arcadia Receivables Finance Corp)

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Monthly Tape. On or before the third Business DayInsured Distribution Date, but in no event later than the fifth seventh calendar day, of each month, the Servicer will deliver to the Indenture Trustee Trust Collateral Agent and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding preceding Determination Date and necessary to determine review the application of collections as provided in Section 4.35.4. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) to verify (i) confirm that the Servicer's Certificate delivered by is complete, (ii) confirm that such tape, diskette or other electronic transmission is in readable form, (iii) verify the Servicer mathematical accuracy of all calculations contained within the Servicer's Certificate and (based iv) calculate and confirm (A) the aggregate amount distributable as principal on the information contained in such tape related Distribution Date to each Class of Notes, (B) the aggregate amount distributable as interest on the related Distribution Date to each Class of Notes, (C) any amounts distributable on the related Distribution Date which are to be paid with funds (y) withdrawn from the Spread Account or diskette(z) drawn under the Note Policy, (D) the outstanding principal amount of each Class of Notes after giving effect to all distributions made pursuant to clause (A), above, (E) the Pool Factor for each Class of Notes after giving effect to all distributions made pursuant to clause (A), above, and (F) the aggregate Noteholders' Principal Carryover Amount and the aggregate Noteholders' Interest Carryover Amount on such Distribution Date after giving effect to all distributions made pursuant to clauses (A) and (B), above, respectively. The Backup Servicer shall certify to the Security Insurer Controlling Party that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer Controlling Party of any discrepancies, in each case, on or before the second Business Day following the Determination Insured Distribution Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim next succeeding Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related next succeeding Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related next succeeding Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, last day of the following monthmonth after the month in which such Servicer's Certificate was delivered, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Preliminary Servicer's Certificate for the next succeeding Distribution Date, and/or the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Controlling Party, deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 5 contracts

Samples: Sale and Servicing Agreement (Americredit Financial Services Inc), Sale and Servicing Agreement (Americredit Financial Services Inc), Sale and Servicing Agreement (Americredit Financial Services Inc)

Monthly Tape. On or before the third Business DayInsured Distribution Date, ------------ but in no event later than the fifth seventh calendar day, of each month, the Servicer will deliver to the Indenture Trustee Trust Collateral Agent and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding preceding Determination Date and necessary to determine the application of collections as provided in Section 4.35.4. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Controlling Party that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer Controlling Party of any discrepancies, in each case, on or before the second Business Day following the Determination Insured Distribution Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim next succeeding Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related next succeeding Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related next succeeding Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, last day of the following monthmonth after the month in which such Servicer's Certificate was delivered, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Preliminary Servicer's Certificate for the next succeeding Distribution Date, and/or the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Controlling Party, deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 5 contracts

Samples: Sale and Servicing Agreement (Americredit Financial Services Inc), Sale and Servicing Agreement (Americredit Financial Services Inc), Sale and Servicing Agreement (Americredit Financial Services Inc)

Monthly Tape. On or before the third Business Day, but in no event later than the fifth calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.3. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Olympic Receivables Finance Corp), Sale and Servicing Agreement (Olympic Receivables Finance Corp), Sale and Servicing Agreement (Olympic Receivables Finance Corp)

Monthly Tape. On or before the third Business DayInsured Distribution Date, ------------ but in no event later than the fifth seventh calendar day, of each month, the Servicer will deliver to the Indenture Trustee Trust Collateral Agent and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding preceding Determination Date and necessary to determine the application of collections as provided in Section 4.35.4. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Controlling Party that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer Controlling Party of any discrepancies, in each case, on or before the second Business Day following the Determination Insured Distribution Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim next succeeding Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related next succeeding Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related next succeeding Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, last day of the following monthmonth after the month in which such Servicer's Certificate was delivered, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Preliminary Servicer's Certificate for the next succeeding Distribution Date, and/or the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Controlling Party deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Americredit Financial Services Inc), Sale and Servicing Agreement (Americredit Financial Services Inc), Sale and Servicing Agreement (Americredit Financial Services Inc)

Monthly Tape. On or before the third Business Day, but in no event No later than the fifth calendar day, of second Business Day after each monthDistribution Date, the Servicer will deliver to the Indenture Trustee Trust Collateral Agent and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's ’s Certificate relating to the immediately succeeding preceding Determination Date and necessary to determine review the application of collections as provided in Section 4.35.4 (the “Monthly Tape”). The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) to verify (i) confirm that such tape, diskette or other electronic transmission is in readable form, and (ii) calculate and confirm (A) the Servicer's Certificate delivered by the Servicer (based aggregate amount distributable as principal on the information contained in such tape related Distribution Date to each Class of Notes, (B) the aggregate amount distributable as interest on the related Distribution Date to each Class of Notes, (C) any amounts distributable on the related Distribution Date which are to be paid with funds (x) withdrawn from the Reserve Account or diskette(y) drawn under the Guaranty, (D) the outstanding principal amount of each Class of Notes after giving effect to all distributions made pursuant to clause (A), above, (E) the Note Pool Factor for each Class of Notes after giving effect to all distributions made pursuant to clause (A), above, and (F) the aggregate Noteholders’ Principal Carryover Amount and the aggregate Noteholders’ Interest Carryover Amount on such Distribution Date after giving effect to all distributions made pursuant to clauses (A) and (B), above, respectively. The Backup Servicer shall certify to the Security Insurer Trustee that it has verified the Servicer's ’s Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer Trustee of any discrepancies, in each case, on or before the second fifth Business Day following the Determination Distribution Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim next succeeding Distribution Date, but in the absence of a reconciliation, the Servicer's ’s Certificate shall control for the purpose of calculations and distributions with respect to the related next succeeding Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's ’s Certificate by the related next succeeding Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's ’s expense, to audit the Servicer's ’s Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, last day of the following monthmonth after the month in which such Servicer’s Certificate was delivered, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's ’s Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer Controlling Party (unless an Insurer Default shall have occurred and be continuing) acting at the written direction of the Majority Noteholders), deliver to the Backup Servicer or any successor Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (AmeriCredit Automobile Receivables Trust 2008-2), Sale and Servicing Agreement (Americredit Corp)

Monthly Tape. On or before the third eighth Business Day, but in no event later than the fifth tenth calendar day, of each month, the Servicer will shall deliver or cause to be delivered to the Indenture Trustee, Owner Trustee and the Backup Servicer a computer tape and a diskette (or any other form of electronic transmission acceptable to the Owner Trustee, the Indenture Trustee and the Backup Servicer) in a format acceptable to the Indenture Trustee, Owner Trustee and the Backup Servicer containing the information with respect to the Receivables as of the last day of the preceding Accounting Date Collection Period and necessary for preparation of the Servicer's Certificate relating to for the immediately succeeding Determination Date and necessary to determine the application of collections payments received on the Receivables as provided in Section 4.3herein. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee, Owner Trustee and the Backup Servicer) to verify the mathematical accuracy of the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Indenture Trustee and the Owner Trustee that it has verified the mathematical accuracy of the Servicer's Certificate in accordance with this Section 3.13 4.13 and shall notify the Servicer Servicer, the Indenture Trustee and the Security Insurer Owner Trustee of any discrepancies, in each case, on or before the second third Business Day following the related Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountantsa firm of nationally recognized independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, to reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such the next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event, the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Indenture Trustee or the Owner Trustee, deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor its records relating to the Receivables and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, verify or monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (First Merchants Acceptance Corp), Sale and Servicing Agreement (First Merchants Acceptance Corp)

Monthly Tape. On or before the third eighth Business Day, but in no event later than the fifth tenth calendar day, of each month, the Servicer will shall deliver or cause to be delivered to the Indenture Trustee, Owner Trustee and the Backup Servicer a computer tape and a diskette (or any other form of electronic transmission acceptable to the Owner Trustee, the Indenture Trustee and the Backup Servicer) in a format acceptable to the Indenture Trustee, Owner Trustee and the Backup Servicer containing the information with respect to the Receivables as of the last day of the preceding Accounting Date Collection Period and necessary for preparation of the Servicer's Certificate relating to for the immediately succeeding Determination Date and necessary to determine the application of collections Collections as provided in Section 4.3herein. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee, Owner Trustee and the Backup Servicer) to verify the mathematical accuracy of the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Indenture Trustee and the Owner Trustee that it has verified the mathematical accuracy of the Servicer's Certificate in accordance with this Section 3.13 4.13 and shall notify the Servicer Servicer, the Indenture Trustee and the Security Insurer Owner Trustee of any discrepancies, in each case, on or before the second third Business Day following the related Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountantsa firm of nationally recognized independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, to reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such the next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event, the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Indenture Trustee or the Owner Trustee, deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor its records relating to the Receivables and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, verify or monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (First Merchants Acceptance Corp)

Monthly Tape. On or before the third Business Day, but in no event later than the fifth calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and or a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.3. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Controlling Party that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer Controlling Party of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Payment Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Payment Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Payment Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Controlling Party, deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (First Enterprise Financial Group Inc)

Monthly Tape. On or before the third Business DayDistribution Date, but ------------ in no event later than the fifth eighteenth calendar day, of each month, the Servicer will deliver to the Indenture Trustee Trust Collateral Agent and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding preceding Determination Date and necessary to determine review the application of collections as provided in Section 4.35.3. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) to verify (i) confirm that the Servicer's Certificate delivered by is complete, (ii) confirm that such tape, diskette or other electronic transmission is in readable form, (iii) verify the Servicer mathematical accuracy of all calculations contained within the Servicer's Certificate and (based iv) calculate and confirm (A) the aggregate amount distributable as principal on the information contained in such tape or diskette)related Distribution Date to each Class of Notes, (B) the aggregate amount distributable as interest on the related Distribution Date to each Class of Notes, and (C) any amounts distributable on the related Distribution Date which are to be paid with funds withdrawn from the Reserve Account. The Backup Servicer shall certify to the Security Insurer Trust Collateral Agent that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer Servicer, the Administrative Agent, the Agents and the Security Insurer Trust Collateral Agent of any discrepancies, in each case, on or before the second Business Day following the Determination Distribution Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim next succeeding Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related next succeeding Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related next succeeding Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, last day of the following monthmonth after the month in which such Servicer's Certificate was delivered, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless Trust Collateral Agent, an Insurer Default shall have occurred and be continuing) Agent or the Class A Majority, the Class B Majority, the Class C Majority, the Class D Majority or the Class E Majority, deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Corp)

Monthly Tape. On or before the third Business Day, but in no event later than the fifth calendar day, of each monthDetermination Date, the Servicer will ------------ shall deliver or cause to be delivered to the Indenture Trustee Trustee, the Owner Trustee, the Note Insurer and the Backup Servicer a computer tape and a diskette (or any other form of electronic transmission acceptable to the Owner Trustee, the Indenture Trustee Trustee, the Note Insurer and the Backup Servicer) in a format acceptable to the Indenture Trustee Trustee, Owner Trustee, the Note Insurer and the Backup Servicer containing the information with respect to the Receivables as of the last day of the preceding Accounting Date Collection Period and necessary for preparation of the Servicer's Certificate relating to for the immediately succeeding Determination Date and necessary to determine the application of collections payments received on the Receivables as provided in Section 4.3herein. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee Trustee, Owner Trustee, the Note Insurer and the Backup Servicer) to verify the Servicer's Certificate delivered by mathematical accuracy of the Servicer (based on items set forth in Exhibit C to the extent possible from the information contained in given to the Backup Servicer at such tape time or diskette)subsequent thereto, and the Backup Servicer shall certify to the Security Indenture Trustee, the Note Insurer and the Owner Trustee that it has verified the mathematical accuracy of the Servicer's Certificate Certificate, other than the items in I of the Servicer's Certificate, and such compliance by the Servicer in accordance with this Section 3.13 4.13 and shall notify the Servicer Servicer, the Indenture Trustee, the Note Insurer and the Security Insurer Owner Trustee of any discrepancies, in each case, on or before the second third Business Day following the related Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountantsa firm of nationally recognized independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, to reconcile the such discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such the next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event, the Servicer shall, if so requested by the Security Indenture Trustee, the Note Insurer (unless an Insurer Default shall have occurred and be continuing) or the Owner Trustee, each with the prior written consent of the Note Insurer, deliver to the Backup Servicer, or the successor Servicer its Collection Records and its Monthly Records if other than the Backup Servicer, within one Business Day of 15 days after demand therefor its records relating to the Receivables and the related property and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with the servicing of the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, verify or monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (SSB Vehicle Securities Inc)

Monthly Tape. On or before the third Business Day, but in no event later than the fifth calendar day, of each monthDetermination Date, the ------------ Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) Monthly Tape in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Transferred Receivables and Transferred ABS as of the last day of the immediately preceding Accounting Date calendar month necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date Date. Based solely on the information contained in the Monthly Tape and necessary to determine the application Servicer's Certificate, the Backup Servicer shall verify the Aggregate Outstanding Principal Balance of collections as provided the Total Receivables Pool and the unpaid principal amount of the Asset Backed Securities in Section 4.3the Total Securities Pool. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to recalculate the Indenture Trustee and the Backup Servicer) to verify information contained in the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Agent that it has verified the Servicer's Certificate in accordance with this Section 3.13 and is correct on its face or shall notify the Servicer and the Security Insurer Agent of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) deliver to the Backup Servicer its Collection Records and its Monthly Records as soon as practicable and in any event within one Business Day of after demand therefor (which demand may be made at any time after the occurrence of a Facility Termination Event or a Servicer Termination Event or the occurrence of any event which, if uncured, with lapse of time or notice or lapse of time and notice, would constitute a Facility Termination Event or a Servicer Termination Event) and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Transferred Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Receivables Financing Agreement (Americredit Corp)

Monthly Tape. On or before the third Business Day, but in no event later than the fifth calendar day, of each monthRemittance Date, the Servicer will deliver to the Indenture Trustee Note Insurer and the Backup Standby Servicer a computer tape and or a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Standby Servicer) in a format acceptable to the Indenture Trustee and the Backup Standby Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's ’s Certificate relating to the immediately succeeding preceding Determination Date and necessary to determine review the application of collections as provided in Section 4.3collections. The Backup Standby Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Standby Servicer) to (i) confirm that the Servicer’s Certificate is complete, (ii) confirm that such tape, diskette or other electronic transmission is in readable form, (iii) verify the mathematical accuracy of all calculations contained within the Servicer's ’s Certificate delivered by the Servicer and (based on the information contained in such tape or diskette), iv) calculate and the Backup confirm any amounts distributed. The Standby Servicer shall certify to the Security Note Insurer that it has verified the Servicer's ’s Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Note Insurer of any discrepancies, in each case, on or before the second fifth Business Day following the Determination Remittance Date. In the event that the Backup Standby Servicer reports any discrepancies, the Servicer and the Backup Standby Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim next succeeding Remittance Date, but in the absence of a reconciliation, the Servicer's ’s Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution next succeeding Remittance Date. In the event that the Backup Standby Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's ’s Certificate by the related Distribution next succeeding Remittance Date, the Servicer shall cause the Independent Accountants, at the Servicer's ’s expense, to audit the Servicer's ’s Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, last day of the following monthmonth after the month in which such Servicer’s Certificate was delivered, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's ’s Certificate for the next succeeding Remittance Date, and/or the Servicer’s Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Note Insurer, deliver to the Backup Standby Servicer its Collection Records and its Monthly Records within one Business Day of fifteen (15) days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Standby Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Standby Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Servicing and Custodian Agreement (Americredit Corp)

Monthly Tape. On or before the third Business DayInsured Distribution Date, but in no event later than the fifth seventh calendar day, of each month, the Servicer will deliver to the Indenture Trustee Trust Collateral Agent and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding preceding Determination Date and necessary to determine the application of collections as provided in Section 4.35.4. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Controlling Party that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer Controlling Party of any discrepancies, in each case, on or before the second Business Day following the Determination Insured Distribution Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim next succeeding Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related next succeeding Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related next succeeding Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, last day of the following monthmonth after the month in which such Servicer's Certificate was delivered, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Preliminary Servicer's Certificate for the next succeeding Distribution Date, and/or the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Controlling Party deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Financial Services Inc)

Monthly Tape. On or before the third Business Day, but in no event later than the fifth calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.3. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer JPMD that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer JPMD of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the fourth Business Day prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Backup Servicer deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.the

Appears in 1 contract

Samples: Sale and Servicing Agreement (Olympic Financial LTD)

Monthly Tape. On or before the third Business Day, but in no event later than the fifth calendar day, of each monthRemittance Date, the ------------ Servicer will deliver to the Indenture Trustee Collateral Agent and the Backup Servicer Note Insurer a computer tape and or a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup ServicerCollateral Agent) in a format acceptable to the Indenture Trustee and the Backup Servicer Collateral Agent containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding preceding Determination Date and necessary to determine review the application of collections as provided in Section 4.3collections. The Backup Servicer Collateral Agent shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup ServicerCollateral Agent) to verify (i) confirm that the Servicer's Certificate delivered by is complete, (ii) confirm that such tape, diskette or other electronic transmission is in readable form, (iii) verify the Servicer mathematical accuracy of all calculations contained within the Servicer's Certificate and (based on the information contained in such tape or diskette), iv) calculate and the Backup Servicer confirm any amounts distributed. The Collateral Agent shall certify to the Security Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Note Insurer of any discrepancies, in each case, on or before the second Business Day following the Determination Remittance Date. In the event that the Backup Servicer Collateral Agent reports any discrepancies, the Servicer and the Backup Servicer Collateral Agent shall attempt to reconcile such discrepancies prior to the related Deficiency Claim next succeeding Remittance Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution next succeeding Remittance Date. In the event that the Backup Servicer Collateral Agent and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution next succeeding Remittance Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, last day of the following monthmonth after the month in which such Servicer's Certificate was delivered, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for the next succeeding Remittance Date, and/or the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Note Insurer, deliver to the Backup Servicer Collateral Agent its Collection Records and its Monthly Records within one Business Day of fifteen (15) days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer Collateral Agent shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer Collateral Agent shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Servicing and Custodian Agreement (Americredit Corp)

Monthly Tape. On or before the third Business DayDetermination Date, but in no event later than the fifth eighth (8th) calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee Administrative Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Determination Date Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.36.4. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Determination Date Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Administrative Agent that it has verified the Servicer's Determination Date Certificate in accordance with this Section 3.13 5.13 and shall notify the Servicer and the Security Insurer Administrative Agent of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Determination Date Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Determination Date Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Determination Date Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following monthnext succeeding Determination Date, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Determination Date Certificate for such next succeeding Determination Deterination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Administrative Agent, deliver to the Backup Servicer its Collection Records and its Monthly Records within one 5 Business Day of Days after demand therefor and a computer tape tape, or other electronic transmission acceptable to the Backup Servicer, containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Corp)

Monthly Tape. On or before the third fourth Business Day, but in no event later than the fifth calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer Servicer, containing the information with respect to the Receivables as of the preceding Accounting Record Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.35.3. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette), and the Servicer. The Backup Servicer shall certify to the Security Insurer that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Certificate Insurer of any discrepancies, in each case, discrepancies on or before the second Business Day following after the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third fourth Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Security Certificate Insurer (unless an Insurer Default shall have occurred and be continuing) deliver to the Backup Servicer its Collection Records and its Monthly Records within one two Business Day Days of demand therefor and a computer tape containing as of the close of business on the date of demand or the following day all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Unless an Insurer Default shall have occurred and be continuing, the Backup Servicer shall have no obligation to act in respect of such Collection Records delivered pursuant to this paragraph. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall not be responsible for delays attributable to the Servicer's failure to deliver information, defects in the information supplied by the Servicer or other circumstances beyond the control of the Backup Servicer. In addition, the Backup Servicer shall have no responsibility, shall not be in default and shall incur no liability (i) for any actions taken act or omitted failure to act by any third party, including the Servicer, the Controlling Party or the Trustee or for any inaccuracy or omission in a notice or communication received by the ServicerBackup Servicer from any third party or (ii) which is due to or results from the invalidity, unenforceability of any Receivable or non-compliance of the underlying installment sale contract with applicable law or the breach or the inaccuracy of any representation or warranty made pursuant to the Unaffiliated Seller's Agreement and the Receivables Purchase Agreement with respect to any Receivable. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC)

Monthly Tape. On or before the third Business DayDetermination Date, but in no event later than the fifth seventh calendar day, of each month, the Servicer will deliver to the Indenture Trustee Trust Collateral Agent and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.35.4. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Controlling Party that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer Controlling Party of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Controlling Party deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Financial Services Inc)

Monthly Tape. On or before the third Business DayDetermination Date, but in no ------------ event later than the fifth eighth (8th) calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and or a diskette (or any other electronic transmission acceptable to the Indenture Trustee Administrative Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Determination Date Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.36.4. The Backup ----------- Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Determination Date Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Administrative Agent that it has verified the Servicer's Determination Date Certificate in accordance with this Section 3.13 5.13 and shall notify the Servicer ------------ and the Security Insurer Administrative Agent of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Determination Date Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Determination Date Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Determination Date Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following monthnext succeeding Determination Date, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Determination Date Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Administrative Agent, deliver to the Backup Servicer its Collection Records and its Monthly Records within one 5 Business Day of Days after demand therefor and a computer tape tape, or other electronic transmission acceptable to the Backup Servicer, containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Corp)

Monthly Tape. On or before the third fourth Business Day, but in no event later than the fifth calendar day, of each month, the Master Servicer will deliver or cause to be delivered to the Indenture Trustee Trust Collateral Agent and the Backup Servicer Insurer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) Insurer in a format acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer Insurer, containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Master Servicer's Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.3. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette), and the Backup Servicer shall certify to the Security Insurer that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date5.4. In addition, upon the occurrence of a Master Servicer Termination Event the Master Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Controlling Party deliver to the Backup Servicer Trust Collateral Agent its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Master Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer Trust Collateral Agent shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Master Servicer or to verify the information contained on the computer tape delivered pursuant to this Section 4.13 other than to verify that such computer tape is in a readable format. Notwithstanding the foregoing, to the extent that the Insurer informs the Trust Collateral Agent of a discrepancy in the computer tape, the Trust Collateral Agent shall cooperate with the Insurer and attempt to reconcile such discrepancies with the Master Servicer prior to the related Distribution Date. In the absence of a reconciliation, the Master Servicer's Certificate shall control for purposes of calculations and distributions with respect to the related Distribution Date. In the event that the Trust Collateral Agent and the Master Servicer are unable to reconcile discrepancies with respect to the Master Servicer's Certificate, by the related Distribution Date, the Master Servicer shall cause independent accountants, at the Master Servicer's expense, to audit the Master Servicer's Certificate and, prior to the Determination Date, reconcile the discrepancies. The Backup Servicer effect, if any, of such reconciliation shall be reflected in the Master Servicer's Certificate for such next succeeding Determination Date. The Trust Collateral Agent shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Master Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Advanta Automobile Receivables Trust 1997-1)

Monthly Tape. (a) On or before the third Business DayDistribution Date, but in no event later than the fifth eighteenth calendar day, of each month, the Servicer will deliver to the Indenture Trustee Trust Collateral Agent and the Backup Servicer a computer tape and a diskette (or any other an electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) in a format acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's ’s Certificate relating to the immediately succeeding preceding Determination Date and necessary to determine the application of collections as provided in Section 4.3Date. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer(i) to verify confirm that the Servicer's ’s Certificate delivered by is complete, (ii) confirm that such electronic transmission is in readable form and (iii) calculate and confirm (A) the Servicer (based aggregate amount distributable as principal on the information contained in such tape or diskette)related Distribution Date, (B) any amounts distributable on the related Distribution Date which are to be paid with funds withdrawn from the Reserve Account, (C) the Aggregate Principal Balance as of the end of the Collection Period, (D) the Advance Rate, (E) the Borrowing Base, (F) the Reserve Account Required Amount, and (G) the Net Spread. (b) The Backup Servicer shall certify to the Security Insurer Trust Collateral Agent, the Servicer, and the Administrative Agent that it has verified the Servicer's ’s Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer such Persons of any discrepancies, in each case, on or before the second Business Day following the Determination Datetwenty-fifth (25th) calendar day each month. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim next succeeding Distribution Date, but in the absence of a reconciliation, the Servicer's ’s Certificate shall control for the purpose of calculations and distributions with respect to the related next succeeding Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's ’s Certificate by the related next succeeding Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's ’s expense, to audit the Servicer's ’s Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following monthnext Distribution Date, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's ’s Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Trust Collateral Agent or the Administrative Agent, deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape an electronic transmission containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Corp)

Monthly Tape. (a) On or before the third Business Day, but in no event later than the fifth calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and or a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.33.3. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer and the Agent that it has verified the Servicer's Certificate in accordance with this Section 3.13 2.13 and shall notify the Servicer and Servicer, the Security Insurer and the Agent of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Agent or the Security Insurer (unless an Insurer Default shall have occurred and be continuing) deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Servicing Agreement (Olympic Financial LTD)

Monthly Tape. On or before the third Business Day, but in no event No later than the fifth calendar day, of second Business Day after each monthDetermination Date, the Servicer will shall deliver to the Indenture Trustee and the Backup Servicer a computer tape and or a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer containing the such information with respect to the Receivables as of the close of business on the last day of the preceding Accounting Date Collection Period as is necessary for preparation of the Servicer's Certificate relating to Monthly Servicer Report (the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.3“Monthly Tape”). The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify confirm that such tape, diskette or other electronic transmission is in readable form and confirm that the Servicer's Certificate delivered by the Servicer Aggregate Receivable Balance (based on the information contained data included on such Monthly Tape) is consistent with the Aggregate Receivable Balance set forth in such tape or diskette), and the related Monthly Servicer Report. The Backup Servicer shall certify to the Security Insurer that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer Agent of any discrepancies, such discrepancy in each case, the Aggregate Receivable Balance on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Payment Date. In addition, upon the occurrence of a Servicer Event of Default, the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Majority Holders, deliver to the Backup Servicer or any successor Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Corp)

Monthly Tape. On or before the third Business DayDetermination Date, but in no event later than the fifth eighth (8th) calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and or a diskette (or any other electronic transmission acceptable to the Indenture Trustee Administrative Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Determination Date Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.36.4. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Determination Date Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Administrative Agent that it has verified the Servicer's Determination Date Certificate in accordance with this Section 3.13 5.13 and shall notify the Servicer and the Security Insurer Administrative Agent of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Determination Date Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Determination Date Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Determination Date Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following monthnext succeeding Determination Date, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Determination Date Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Administrative Agent, deliver to the Backup Servicer its Collection Records and its Monthly Records within one 5 Business Day of Days after demand therefor and a computer tape tape, or other electronic transmission acceptable to the Backup Servicer, containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Corp)

Monthly Tape. (a) On or before the third Business Day, but in no event later than the fifth calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and or a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.3. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer and the Administrative Agent that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and Servicer, the Security Insurer and the Administrative Agent of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Administrative Agent or the Security Insurer (unless an Insurer Default shall have occurred and be continuing) deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Arcadia Financial LTD)

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Monthly Tape. On or before the third Business Day, but in no event later than the fifth calendar day, of each monthDetermination Date, the ------------ Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) Monthly Tape in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Transferred Receivables as of the last day of the immediately preceding Accounting Date calendar month necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date Date. Based solely on the information contained in the Monthly Tape and necessary to determine the application Servicer's Certificate, the Backup Servicer shall verify the Aggregate Outstanding Principal Balance of collections as provided in Section 4.3the Total Receivables Pool. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to recalculate the Indenture Trustee and the Backup Servicer) to verify information contained in the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Agent that it has verified the Servicer's Certificate in accordance with this Section 3.13 and is correct on its face or shall notify the Servicer and the Security Insurer Agent of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Agent, deliver to the Backup Servicer its Collection Records and its Monthly Records as soon as practicable and in any event within one Business Day of after demand therefor (which demand may be made at any time after the occurrence of a Facility Termination Event or a Servicer Termination Event or the occurrence of any event which, if uncured, with lapse of time or notice or lapse of time and notice, would constitute a Facility Termination Event or a Servicer Termination Event) and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Transferred Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Receivables Financing Agreement (Americredit Financial Services of Canada LTD)

Monthly Tape. On or before the third eighth Business Day, but in no event later than the fifth tenth calendar day, of each month, the Servicer will shall deliver or cause to be delivered to the Indenture Trustee and Paying Agent, the Backup Servicer and the Purchaser, a computer tape and or a diskette (or any other form of electronic transmission acceptable to the Indenture Trustee Purchaser, Paying Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee Purchaser, Paying Agent and the Backup Servicer containing the information with respect to the Receivables as of the last day of the preceding Accounting Date Collection Period and necessary for preparation of the Servicer's Certificate relating to for the immediately succeeding Determination Date and necessary to determine the application of collections payments received on the Receivables as provided in Section 4.3herein. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee Paying Agent, the Backup Servicer and the Backup ServicerPurchaser) to verify the mathematical accuracy of the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Purchaser that it has verified the mathematical accuracy of the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer Purchaser of any discrepancies, in each case, on or before the second third Business Day following the related Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountantsa firm of nationally recognized independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, to reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such the next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Purchaser, deliver within 3 Business Days after demand therefor its records relating to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of demand therefor Receivables and a computer tape or diskette containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, including to supervise, verify, verify or monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Servicing Agreement (First Merchants Acceptance Corp)

Monthly Tape. On or before the third Business Day, but in no event later than the fifth calendar day, of each monthRemittance Date, the Servicer will deliver to the Indenture Trustee Collateral Agent and the Backup Servicer Note Insurer a computer tape and or a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup ServicerCollateral Agent) in a format acceptable to the Indenture Trustee and the Backup Servicer Collateral Agent containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding preceding Determination Date and necessary to determine review the application of collections as provided in Section 4.3collections. The Backup Servicer Collateral Agent shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup ServicerCollateral Agent) to verify (i) confirm that the Servicer's Certificate delivered by is complete, (ii) confirm that such tape, diskette or other electronic transmission is in readable form, (iii) verify the Servicer mathematical accuracy of all calculations contained within the Servicer's Certificate and (based on the information contained in such tape or diskette), iv) calculate and the Backup Servicer confirm any amounts distributed. The Collateral Agent shall certify to the Security Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Note Insurer of any discrepancies, in each case, on or before the second Business Day following the Determination Remittance Date. In the event that the Backup Servicer Collateral Agent reports any discrepancies, the Servicer and the Backup Servicer Collateral Agent shall attempt to reconcile such discrepancies prior to the related Deficiency Claim next succeeding Remittance Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution next succeeding Remittance Date. In the event that the Backup Servicer Collateral Agent and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution next succeeding Remittance Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, last day of the following monthmonth after the month in which such Servicer's Certificate was delivered, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for the next succeeding Remittance Date, and/or the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Note Insurer, deliver to the Backup Servicer Collateral Agent its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer Collateral Agent shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer Collateral Agent shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Servicing and Custodian Agreement (Americredit Corp)

Monthly Tape. On or before the third fifth Business Day, but in no event later than the fifth seventh calendar day, of each month, the Servicer will deliver to the Indenture Trustee Trust Collateral Agent and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.35.4. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Controlling Party that it has verified the Servicer's Certificate in accordance with this Section 3.13 4.13 and shall notify the Servicer and the Security Insurer Controlling Party of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Controlling Party deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Financial Services Inc)

Monthly Tape. On or before the third Business Day, but in no event later than the fifth calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.3. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Controlling Party that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer Controlling Party of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Controlling Party deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Corp)

Monthly Tape. On or before the third Business Day, but in no event later than the fifth calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and or a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.3. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Controlling Party that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer Controlling Party of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Payment Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Payment Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Payment Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Controlling Party, deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.the

Appears in 1 contract

Samples: Sale and Servicing Agreement (First Enterprise Financial Group Inc)

Monthly Tape. On or before the third fifth Business Day, but in no event later than the fifth seventh calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.35.3. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Controlling Party that it has verified the Servicer's Certificate in accordance with this Section 3.13 4.13 and shall notify the Servicer and the Security Insurer Controlling Party of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Controlling Party deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Americredit Corp)

Monthly Tape. On or before the third Business Day, but in no event later than the fifth calendar day, of each monthRemittance Date, the ------------ Servicer will deliver to the Indenture Trustee Collateral Agent and the Backup Servicer Note Insurer a computer tape and or a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup ServicerCollateral Agent) in a format acceptable to the Indenture Trustee and the Backup Servicer Collateral Agent containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding preceding Determination Date and necessary to determine review the application of collections as provided in Section 4.3collections. The Backup Servicer Collateral Agent shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup ServicerCollateral Agent) to verify (i) confirm that the Servicer's Certificate delivered by is complete, (ii) confirm that such tape, diskette or other electronic transmission is in readable form, (iii) verify the Servicer mathematical accuracy of all calculations contained within the Servicer's Certificate and (based on the information contained in such tape or diskette), iv) calculate and the Backup Servicer confirm any amounts distributed. The Collateral Agent shall certify to the Security Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Note Insurer of any discrepancies, in each case, on or before the second Business Day following the Determination Remittance Date. In the event that the Backup Servicer Collateral Agent reports any discrepancies, the Servicer and the Backup Servicer Collateral Agent shall attempt to reconcile such discrepancies prior to the related Deficiency Claim next succeeding Remittance Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution next succeeding Remittance Date. In the event that the Backup Servicer Collateral Agent and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution next succeeding Remittance Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, last day of the following monthmonth after the month in which such Servicer's Certificate was delivered, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for the next succeeding Remittance Date, and/or the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Note Insurer, deliver to the Backup Servicer Collateral Agent its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer Collateral Agent shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer Collateral Agent shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Servicing and Custodian Agreement (Americredit Corp)

Monthly Tape. On or before the third Business DayInsured Distribution Date, but in no event later than the fifth seventh calendar day, of each month, the Servicer will deliver to the Indenture Trustee Trust Collateral Agent and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding preceding Determination Date and necessary to determine the application of collections as provided in Section 4.35.4. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Controlling Party that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer Controlling Party of any discrepancies, in each case, on or before the second Business Day following the Determination Insured Distribution Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim next succeeding Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related next succeeding Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related next succeeding Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, last day of the following monthmonth after the month in which such Servicer's Certificate was delivered, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Preliminary Servicer's Certificate for the next succeeding Distribution Date, and/or the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Controlling Party, deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Financial Services Inc)

Monthly Tape. On or before the third Business Day, but in no event later than the fifth calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) Monthly Tape in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Transferred Receivables as of the last day of the immediately preceding Accounting Date calendar month necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date . Based solely on the information contained in the Monthly Tape and necessary to determine the application Servicer's Certificate, the Backup Servicer shall verify the Aggregate Outstanding Principal Balance of collections as provided in Section 4.3the Total Receivables Pool. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to recalculate the Indenture Trustee and the Backup Servicer) to verify information contained in the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Agent that it has verified the Servicer's Certificate in accordance with this Section 3.13 and is correct on its face or shall notify the Servicer and the Security Insurer Agent of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Agent, deliver to the Backup Servicer its Collection Records and its Monthly Records as soon as practicable and in any event within one Business Day of after demand therefor (which demand may be made at any time after the occurrence of a Facility Termination Event or a Servicer Termination Event or the occurrence of any event which, if uncured, with lapse of time or notice or lapse of time and notice, would constitute a Facility Termination Event or a Servicer Termination Event) and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Transferred Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Receivables Financing Agreement (Arcadia Financial LTD)

Monthly Tape. On or before the third Business DayDistribution Date, but in no event later than the fifth eighteenth calendar day, of each month, the Servicer will deliver to the Indenture Trustee Trust Collateral Agent and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding preceding Determination Date and necessary to determine review the application of collections as provided in Section 4.35.3. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) to verify (i) confirm that the Servicer's Certificate delivered by is complete, (ii) confirm that such tape, diskette or other electronic transmission is in readable form, (iii) verify the Servicer mathematical accuracy of all calculations contained within the Servicer's Certificate and (based iv) calculate and confirm (A) the aggregate amount distributable as principal on the information contained in such tape or diskette)related Distribution Date to each Class of Notes, (B) the aggregate amount distributable as interest on the related Distribution Date to each Class of Notes, and (C) any amounts distributable on the related Distribution Date which are to be paid with funds withdrawn from the Reserve Account. The Backup Servicer shall certify to the Security Insurer Trust Collateral Agent that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer Servicer, the Administrative Agent, the Agents and the Security Insurer Trust Collateral Agent of any discrepancies, in each case, on or before the second Business Day following the Determination Distribution Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim next succeeding Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related next succeeding Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related next succeeding Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, last day of the following monthmonth after the month in which such Servicer's Certificate was delivered, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless Trust Collateral Agent, an Insurer Default shall have occurred and be continuing) Agent or the Class A Majority, the Class B Majority, the Class C Majority, the Class D Majority or the Class E Majority, deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Corp)

Monthly Tape. On or before the third Business DayInsured Distribution Date, but ------------ in no event later than the fifth seventh calendar day, of each month, the Servicer will deliver to the Indenture Trustee Trust Collateral Agent and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding preceding Determination Date and necessary to determine the application of collections as provided in Section 4.35.4. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Controlling Party that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer Controlling Party of any discrepancies, in each case, on or before the second Business Day following the Determination Insured Distribution Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim next succeeding Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related next succeeding Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related next succeeding Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, last day of the following monthmonth after the month in which such Servicer's Certificate was delivered, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Preliminary Servicer's Certificate for the next succeeding Distribution Date, and/or the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Controlling Party, deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Financial Services Inc)

Monthly Tape. On or before the third Business DayDetermination Date, but in no event later than the fifth seventh calendar day, of each month, the Servicer will deliver to the Indenture Trustee Trust Collateral Agent and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.35.4. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee Trust Collateral Agent and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Controlling Party that it has verified the Servicer's Certificate in accordance with this Section 3.13 4.13 and shall notify the Servicer and the Security Insurer Controlling Party of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Controlling Party deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Financial Services Inc)

Monthly Tape. On or before the third Business Day, but in no event later than the fifth calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and or a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.3. The Backup Servicer - 57 - shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Controlling Party that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer Controlling Party of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Payment Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Payment Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Payment Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Controlling Party deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of 15 days after demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (First Enterprise Financial Group Inc)

Monthly Tape. On or before the third Business DayDetermination Date, but in no event later than the fifth seventh calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee Funding Agent and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Determination Date Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.36.4. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Determination Date Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Funding Agent that it has verified the Servicer's Determination Date Certificate in accordance with this Section 3.13 5.13 and shall notify the Servicer and the Security Insurer Funding Agent of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Determination Date Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Determination Date Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Determination Date Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following monthnext succeeding Determination Date, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Determination Date Certificate for such next succeeding Determination Date. In addition, upon the occurrence of a Servicer Termination Event the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Funding Agent deliver to the Backup Servicer its Collection Records and its Monthly Records within one 5 Business Day of Days after demand therefor and a computer tape tape, or other electronic transmission acceptable to the Backup Servicer, containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Corp)

Monthly Tape. On or before the third Business Day, but in no event later than the fifth calendar day, of each month, the Servicer will deliver to the Indenture Trustee and the Backup Servicer a computer tape and a diskette (or any other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) in a format acceptable to the Indenture Trustee and the Backup Servicer containing the information with respect to the Receivables as of the preceding Accounting Date necessary for preparation of the Servicer's Certificate relating to the immediately succeeding Determination Date and necessary to determine the application of collections as provided in Section 4.3. The Backup Servicer shall use such tape or diskette (or other electronic transmission acceptable to the Indenture Trustee and the Backup Servicer) to verify the Servicer's Certificate delivered by the Servicer (based on the information contained in such tape or diskette)Servicer, and the Backup Servicer shall certify to the Security Insurer Xxxxxx that it has verified the Servicer's Certificate in accordance with this Section 3.13 and shall notify the Servicer and the Security Insurer Xxxxxx of any discrepancies, in each case, on or before the second Business Day following the Determination Date. In the event that the Backup Servicer reports any discrepancies, the Servicer and the Backup Servicer shall attempt to reconcile such discrepancies prior to the fourth Business Day prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and distributions with respect to the related Distribution Date. In the event that the Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Distribution Date, the Servicer shall cause the Independent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the third Business Day, but in no event later than the fifth calendar day, of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be shallbe reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Security Insurer (unless an Insurer Default shall have occurred and be continuing) Backup Servicer deliver to the Backup Servicer its Collection Records and its Monthly Records within one Business Day of demand therefor and a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables. Other than the duties specifically set forth in this Agreement, the Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Backup Servicer shall be determined solely by the express provisions of this Agreement Agreement, and no implied covenants or obligations shall be read into this Agreement against the Backup Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Arcadia Financial LTD)

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