Common use of Reports by Trustee to Noteholders Clause in Contracts

Reports by Trustee to Noteholders. At least three Business Days prior to each Monthly Payment Date, the Servicer shall prepare and deliver to the Trustee and the Rating Agency for distribution to each Noteholder, and, upon receipt thereof from the Servicer, the Trustee shall deliver to each Noteholder, a statement setting forth for the related Collection Period the following information (which in the case of items (ii), (iii) and (iv) shall be based on a Note in a principal amount of $1,000): (i) the total amount available in the Collection Account on the Monthly Payment Date; (ii) the amount of the distribution allocable to principal, including Overdue Monthly Principal, on each of the Notes; (iii) the amount of the distribution allocable to interest, including any Overdue Monthly Interest, on each of the Notes, and each Swap Payment Amount, the Hedge Proceeds and each Swap Termination Amount (if any) for such Monthly Payment Date; (iv) the Servicing Fee, including any overdue Servicing Fee; (v) the Pool Balance as of the end of the related Collection Period; (vi) the Available Reserve Amount, after giving effect to any deposit or withdrawal from the Reserve Account with respect to such Monthly Payment Date, and specifying the amount of each such deposit or withdrawal, and such Available Reserve Amount expressed as a percentage of the Pool Balance and any change in the Required Reserve Amount; (vii) the total Principal Balance of Defaulted Contracts as of the last day of the related Collection Period; (viii) the Senior Note Principal Balance and Subordinated Note Principal Balance as of such Monthly Payment Date (after giving effect to any distributions on such Monthly Payment Date); (ix) the Three-Month Average Delinquency Ratio as of the last day of the end of the related Collection Period and the Delinquency Ratio as of the last day of the related Collection Period; (x) the Three-Month Average Default Ratio as of the last day of the related Collection Period and the Default Ratio as of the last day of the related Collection Period; (xi) the amount of all prepayments in full of the Contracts as of the end of the related Collection Period; (xii) the aggregate Payahead Amount with respect to the Contracts as of the end of the related Collection Period; (xiii) the past due experience of the Contracts (with respect to the different aging categories set forth in the Confidential Private Placement Memorandum dated February 1998, as amended and supplemented by the Company as of the Closing Date) as of the last day of the end of the related Collection Period; and (xiv) the occurrence of any substitution of Contracts, if any, in accordance with the Sale and Servicing Agreement and all applicable information as to compliance of such substitution with the requirements under the Sale and Servicing Agreement. Within a reasonable period of time after the end of each calendar year, but not later than the latest date permitted by law, the Servicer shall deliver to the Trustee, and the Trustee shall furnish, to each Person who at any time during such calendar year shall have been a Noteholder, a statement, prepared by the Servicer and delivered to the Trustee, containing the sum of the amounts determined in clauses (ii) and (iii) for such calendar year, or, in the event such Person shall have been a Noteholder during a portion of such calendar year, for the applicable portion of such year, for the purposes of such Noteholder's preparation of federal income tax returns and, to the extent requested by a Noteholder to comply with applicable law, such additional information as will enable the Noteholder to prepare its state and local income and franchise tax returns. In addition, any Committed Investor, Noteholder or Swap Provider may obtain from the Trustee, by written request to the Trustee, a copy of any Monthly Servicer Report or any annual compliance statement pursuant to Section 4.09 of the Sale and Servicing Agreement that has been delivered to the Trustee.

Reports by Trustee to Noteholders. At least three Business Days prior to each Monthly Payment Date, the Servicer shall prepare and deliver to the Trustee and the Rating Agency for distribution to each Noteholder, and, upon receipt thereof from the Servicer, the Trustee shall deliver to each Noteholder, a statement setting forth for the related Collection Period the following information (which in the case of items (ii), (iii) and (iv) shall be based on a Note in a principal amount of $1,000): (i) the total amount available in the Collection Account on the Monthly Payment Date; (ii) the amount of the distribution allocable to principal, including Overdue Monthly Principal, on each of the Class A and Class B Notes; (iii) the amount of the distribution allocable to interest, including any Overdue Monthly Interest, on each of the Class A and Class B Notes, and each Swap Payment Amount, the Hedge Proceeds and each Swap Termination Amount (if any) for such Monthly Payment Date; (iv) the Servicing Fee, including any overdue Servicing Fee; (v) the Pool Balance as of the end of the related Collection Period; (vi) the Available Reserve Amount, after giving effect to any deposit or withdrawal from the Reserve Account with respect to such Monthly Payment Date, and specifying the amount of each such deposit or withdrawal, and such Available Reserve Amount expressed as a percentage of the Pool Balance and any change in the Required Reserve Amount; (vii) the total Principal Balance of Defaulted Contracts Leases as of the last day of the related Collection Period; (viii) the Senior Note Principal Balance Balances of the Class A and Subordinated Note Principal Balance Class B Notes as of such Monthly Payment Date (after giving effect to any distributions on such Monthly Payment Date); (ix) the Three-Month Average Delinquency Ratio as of the last day of the end of the related Collection Period and the Delinquency Ratio as of the last day of the related Collection Period; (x) the Three-Month Average Default Ratio as of the last day of the related Collection Period and the Default Ratio as of the last day of the related Collection Period; (xi) the amount of all prepayments in full of the Contracts Leases as of the end of the related Collection Period; (xii) the aggregate Payahead Amount with respect to the Contracts Leases as of the end of the related Collection Period;; and (xiii) the past due experience of the Contracts Leases (with respect to the different aging categories set forth in the Confidential Private Placement Memorandum dated February 1998June 1997, as amended and supplemented by the Company as of the Closing Date) as of the last day of the end of the related Collection Period; and (xiv) the occurrence of any substitution of Contracts, if any, in accordance with the Sale and Servicing Agreement and all applicable information as to compliance of such substitution with the requirements under the Sale and Servicing Agreement. Within a reasonable period of time after the end of each calendar year, but not later than the latest date permitted by law, the Servicer shall deliver to the Trustee, and the Trustee shall furnish, to each Person who at any time during such calendar year shall have been a Noteholder, a statement, prepared by the Servicer and delivered to the Trustee, containing the sum of the amounts determined in clauses (ii) and (iii) for such calendar year, or, in the event such Person shall have been a Noteholder during a portion of such calendar year, for the applicable portion of such year, for the purposes of such Noteholder's preparation of federal income tax returns and, to the extent requested by a Noteholder to comply with applicable law, such additional information as will enable the Noteholder to prepare its state and local income and franchise tax returns. In addition, any Committed Investor, Noteholder or Swap Provider may obtain from the Trustee, by written request to the Trustee, a copy of any Monthly Servicer Report or any annual compliance statement pursuant to Section 4.09 of the Sale and Servicing Agreement that has been delivered to the Trustee.

Reports by Trustee to Noteholders. At least three Business Days (a) On each Payment Date the Trustee shall account to the Initial Purchaser, each Holder of Notes and to the Rating Agencies on which payments of principal and interest are then being made the amount which represents principal and the amount which represents interest, and shall contemporaneously advise the Issuer of all such payments. The Trustee may satisfy its obligations under this Section 12.06 by delivering the Monthly Servicer's Report to each such Holder of the Notes, the Rating Agencies and the Issuer. On or before the 5th day prior to each Monthly the Final Payment Date, the Servicer shall prepare and deliver Date with respect to the Trustee and the Rating Agency for distribution to each Noteholder, and, upon receipt thereof from the Servicerany Class, the Trustee shall deliver send notice to each Noteholder, the Rating Agencies and to the Initial Purchaser the Holders of the Notes of such Class of such Final Payment Date. Such notice shall include a statement setting forth for the related Collection Period the following information (which that if such Notes are paid in the case of items (ii), (iii) and (iv) shall be based on a Note in a principal amount of $1,000): (i) the total amount available in the Collection Account full on the Monthly Final Payment Date; (ii) the amount of the distribution allocable , interest shall cease to principal, including Overdue Monthly Principal, on each of the Notes; (iii) the amount of the distribution allocable to interest, including any Overdue Monthly Interest, on each of the Notes, and each Swap Payment Amount, the Hedge Proceeds and each Swap Termination Amount (if any) for such Monthly Payment Date; (iv) the Servicing Fee, including any overdue Servicing Fee; (v) the Pool Balance accrue as of the end day immediately preceding such Final Payment Date. The Trustee will make the Monthly Servicer's Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Holders of Notes or potential transferees thereof that provide to Norwest an executed Note Owner Certificate, via the Trustee's internet website and its fax-on-demand service. The Trustee's fax-on-demand service may be accessed by calling (000) 000-0000. The Trustee's internet website shall initially be located at "xxx.xxxxxxx.xxx". Assistance in using the website or the fax-on-demand service can be obtained by calling the Trustee's customer service desk at (000) 000-0000. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Trustee shall have the right to change the way Monthly Servicer's Report are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Trustee shall provide timely and adequate notification to all above parties regarding any such changes. (b) The Servicer shall provide to each owner of an interest any Note who executes and delivers an executed Note Owner Certificate to the Servicer any information required to be delivered to the Noteholders pursuant to Article IV of the related Collection Period;Servicing Agreement to the extent such information is not provided on the website of the Trustee described in Section 12.06(a). The Servicer may provide such information via mail, facsimile, overnight courier, hand delivery, electronic transmission in a format reasonably acceptable to the Servicer and such Note Owner, or by posting the information to a website to which such Note Owner is given access. 84 (vic) Annually (and more often if required by applicable law), the Available Reserve Amount, after giving effect Trustee shall distribute to Noteholders any deposit Form 1099 or withdrawal from the Reserve Account with respect similar information returns required by applicable tax law to such Monthly Payment Date, and specifying the amount of each such deposit or withdrawal, and such Available Reserve Amount expressed as a percentage of the Pool Balance and any change in the Required Reserve Amount; (vii) the total Principal Balance of Defaulted Contracts as of the last day of the related Collection Period; (viii) the Senior Note Principal Balance and Subordinated Note Principal Balance as of such Monthly Payment Date (after giving effect to any distributions on such Monthly Payment Date); (ix) the Three-Month Average Delinquency Ratio as of the last day of the end of the related Collection Period and the Delinquency Ratio as of the last day of the related Collection Period; (x) the Three-Month Average Default Ratio as of the last day of the related Collection Period and the Default Ratio as of the last day of the related Collection Period; (xi) the amount of all prepayments in full of the Contracts as of the end of the related Collection Period; (xii) the aggregate Payahead Amount with respect be distributed to the Contracts as of the end of the related Collection Period; (xiii) the past due experience of the Contracts (with respect to the different aging categories set forth in the Confidential Private Placement Memorandum dated February 1998, as amended Noteholders and supplemented by the Company as of the Closing Date) as of the last day of the end of the related Collection Period; and (xiv) the occurrence of any substitution of Contracts, if any, received in accordance with the Sale and Servicing Agreement and next sentence. The Trustee shall prepare or cause to be prepared all applicable such information as to compliance of such substitution with for distribution by the requirements under the Sale and Servicing Agreement. Within a reasonable period of time after the end of each calendar year, but not later than the latest date permitted by law, the Servicer shall deliver Trustee to the Trustee, and the Trustee shall furnish, to each Person who at any time during such calendar year shall have been a Noteholder, a statement, prepared by the Servicer and delivered to the Trustee, containing the sum of the amounts determined in clauses (ii) and (iii) for such calendar year, or, in the event such Person shall have been a Noteholder during a portion of such calendar year, for the applicable portion of such year, for the purposes of such Noteholder's preparation of federal income tax returns and, to the extent requested by a Noteholder to comply with applicable law, such additional information as will enable the Noteholder to prepare its state and local income and franchise tax returns. In addition, any Committed Investor, Noteholder or Swap Provider may obtain from the Trustee, by written request to the Trustee, a copy of any Monthly Servicer Report or any annual compliance statement pursuant to Section 4.09 of the Sale and Servicing Agreement that has been delivered to the TrusteeNoteholders.

Reports by Trustee to Noteholders. At least three Business Days prior to (a) On each Monthly Payment Date, the Servicer Trustee shall prepare and deliver account to the Trustee Initial Purchaser, each Holder of Notes and to the Rating Agencies the amount paid on such date that represents principal and the Rating Agency for distribution amount paid on such date that represents interest, and shall contemporaneously advise the Issuer of all such payments. The Trustee may satisfy its obligations under this Section 12.06 by delivering the Monthly Servicer's Report to each Noteholdersuch Holder of the Notes, and, upon receipt thereof from the ServicerRating Agencies and the Issuer. On or before the 5th day prior to the Final Payment Date with respect to any Class, the Trustee shall deliver send notice to each Noteholder, the Rating Agencies and to the Initial Purchaser the Holders of the Notes of such Class of such Final Payment Date. Such notice shall include a statement setting forth for the related Collection Period the following information (which that if such Notes are paid in the case of items (ii), (iii) and (iv) shall be based on a Note in a principal amount of $1,000): (i) the total amount available in the Collection Account full on the Monthly Final Payment Date; (ii) the amount of the distribution allocable , interest shall cease to principal, including Overdue Monthly Principal, on each of the Notes; (iii) the amount of the distribution allocable to interest, including any Overdue Monthly Interest, on each of the Notes, and each Swap Payment Amount, the Hedge Proceeds and each Swap Termination Amount (if any) for such Monthly Payment Date; (iv) the Servicing Fee, including any overdue Servicing Fee; (v) the Pool Balance accrue as of the end day immediately preceding such Final Payment Date. The Trustee shall provide or make available electronically (or upon written request, by first class mail or facsimile) each month to Holders of Notes and any other Person entitled thereto, the Monthly Servicer Report; provided, however, the Trustee shall have no obligation to provide such Monthly Servicer Report until it has received the requisite information from the Issuer or the Servicer. The Monthly Servicer Report and, with the consent or at the direction of the related Collection Period; (vi) Issuer, such other information regarding the Available Reserve AmountNotes and/or the Receivables as the Trustee may have in its possession, after giving effect shall be made available via the Trustee's Internet Website, but only with the use of a password provided by the Trustee or its agent to any deposit a Holder of Notes or withdrawal such other Person entitled thereto upon receipt by the Trustee from the Reserve Account with respect to such Monthly Payment Date, and specifying the amount Holder of each such deposit Notes or withdrawal, and such Available Reserve Amount expressed as other Person of a percentage of the Pool Balance and any change certification in the Required Reserve Amount; (vii) form of Exhibit D; provided, however, that the total Principal Balance of Defaulted Contracts Trustee or its agent shall provide such password to the parties to this Indenture and the Rating Agencies without requiring such certification. The Trustee will make no representation or warranty as of to the last day of the related Collection Period; (viii) the Senior Note Principal Balance and Subordinated Note Principal Balance as accuracy or completeness of such Monthly Payment Date (after giving effect documents and will assume no responsibility therefor. The Trustee's Internet Website initially shall be located at "xxx.XXXXxx.xxx" or at such other address as shall be specified by the Trustee from time to any distributions on such Monthly Payment Date); (ix) time in writing to a Holder of Notes or other Person. In connection with providing access to the Three-Month Average Delinquency Ratio as of Trustee's Internet Website, the last day of the end of the related Collection Period Trustee may require registration and the Delinquency Ratio as acceptance of a disclaimer. The Trustee shall not be liable for the last day dissemination of the related Collection Period; (x) the Three-Month Average Default Ratio as of the last day of the related Collection Period and the Default Ratio as of the last day of the related Collection Period; (xi) the amount of all prepayments in full of the Contracts as of the end of the related Collection Period; (xii) the aggregate Payahead Amount with respect to the Contracts as of the end of the related Collection Period; (xiii) the past due experience of the Contracts (with respect to the different aging categories set forth in the Confidential Private Placement Memorandum dated February 1998, as amended and supplemented by the Company as of the Closing Date) as of the last day of the end of the related Collection Period; and (xiv) the occurrence of any substitution of Contracts, if any, information in accordance with the Sale and Servicing Agreement and all applicable information as to compliance of such substitution with the requirements under the Sale and Servicing Agreementthis Indenture. Within a reasonable period of time after the end of each calendar year, but not later than the latest date permitted by law, the Servicer shall deliver to the Trustee, and the The Trustee shall furnish, be entitled to each Person who at any time during such calendar year rely on but shall have been a Noteholder, a statement, prepared by the Servicer and delivered to the Trustee, containing the sum of the amounts determined in clauses (ii) and (iii) for such calendar year, or, in the event such Person shall have been a Noteholder during a portion of such calendar year, not be responsible for the applicable portion content or accuracy of such year, any information provided by third parties for the purposes of such Noteholder's preparation of federal income tax returns and, preparing any reports and to affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the extent requested by a Noteholder to comply with applicable law, such additional information as will enable the Noteholder to prepare its state and local income and franchise tax returns. In addition, any Committed Investor, Noteholder or Swap Provider may obtain from the Trustee, by written request to the Trustee, a copy part of any Monthly Servicer Report or any annual compliance statement pursuant to Section 4.09 of the Sale and Servicing Agreement that has been delivered to the Trusteeother party hereto.)

Reports by Trustee to Noteholders. At least three Business Days prior to (a) On each Monthly Payment Date, the Servicer shall prepare and deliver to the Trustee and the Rating Agency for distribution to each Noteholder, and, upon receipt thereof from the Servicer, Date the Trustee shall deliver account to each NoteholderHolder of Notes on which payments of principal and interest are then being made the amount which represents principal and the amount which represents interest, and shall contemporaneously advise the Issuer of all such payments. The Trustee shall be deemed to have satisfied its obligations under this Section 12.04 by delivering the Monthly Servicer's Report to each such Holder of the Notes and by causing the Servicer to deliver the Monthly Servicer's Report to the Issuer. The Servicer hereby agrees to deliver the Mnthly Servicer's Report to the Issuer. On or before the 10th day prior to the Final Payment Date for the Notes the Trustee shall provide notice to the Holders of the Notes of the Final Payment Date for the Notes. Such notice shall include (1) a statement setting forth for the related Collection Period the following information (which in the case of items (ii), (iii) and (iv) that interest shall be based on a Note in a principal amount of $1,000): (i) the total amount available in the Collection Account on the Monthly Payment Date; (ii) the amount of the distribution allocable cease to principal, including Overdue Monthly Principal, on each of the Notes; (iii) the amount of the distribution allocable to interest, including any Overdue Monthly Interest, on each of the Notes, and each Swap Payment Amount, the Hedge Proceeds and each Swap Termination Amount (if any) for such Monthly Payment Date; (iv) the Servicing Fee, including any overdue Servicing Fee; (v) the Pool Balance as of the end of the related Collection Period; (vi) the Available Reserve Amount, after giving effect to any deposit or withdrawal from the Reserve Account with respect to such Monthly Payment Date, and specifying the amount of each such deposit or withdrawal, and such Available Reserve Amount expressed as a percentage of the Pool Balance and any change in the Required Reserve Amount; (vii) the total Principal Balance of Defaulted Contracts accrue as of the last day preceding the date on which such Final Payment Date occurs, and (2) shall specify the place or places at which presentation and surrender may be made. (b) The Trustee shall, on a monthly basis beginning on the first Calculation Date, confirm the credit rating or, if more than one credit rating has been assigned, each such credit rating of each institution in which funds are invested pursuant to clause (vi) of the related Collection Period;definition of Eligible Investments and shall promptly notify the Noteholders if any such credit rating has been lowered, and the Trustee is not able to move affected funds into another Eligible Investment; if the Trustee moves funds in accordance with this sentence, it will promptly provide notice of such movement to the Issuer. (viiic) At least annually, the Senior Note Principal Balance and Subordinated Note Principal Balance as of such Monthly Payment Date (after giving effect Trustee shall distribute to Noteholders any distributions on such Monthly Payment Date); (ix) the Three-Month Average Delinquency Ratio as of the last day of the end of the related Collection Period and the Delinquency Ratio as of the last day of the related Collection Period; (x) the Three-Month Average Default Ratio as of the last day of the related Collection Period and the Default Ratio as of the last day of the related Collection Period; (xi) the amount of all prepayments in full of the Contracts as of the end of the related Collection Period; (xii) the aggregate Payahead Amount with respect Form 1099 or similar information returns required by applicable tax law to be distributed to the Contracts as of the end of the related Collection Period; (xiii) the past due experience of the Contracts (with respect to the different aging categories set forth in the Confidential Private Placement Memorandum dated February 1998, as amended Noteholders and supplemented by the Company as of the Closing Date) as of the last day of the end of the related Collection Period; and (xiv) the occurrence of any substitution of Contracts, if any, received in accordance with the Sale and Servicing Agreement and next sentence. The Servicer, at its own expense, shall prepare or cause to be prepared all applicable such information as to compliance of such substitution with for distribution by the requirements under the Sale and Servicing Agreement. Within a reasonable period of time after the end of each calendar year, but not later than the latest date permitted by law, the Servicer shall deliver Trustee to the Trustee, and the Trustee shall furnish, to each Person who at any time during such calendar year shall have been a Noteholder, a statement, prepared by the Servicer and delivered to the Trustee, containing the sum of the amounts determined in clauses (ii) and (iii) for such calendar year, or, in the event such Person shall have been a Noteholder during a portion of such calendar year, for the applicable portion of such year, for the purposes of such Noteholder's preparation of federal income tax returns and, to the extent requested by a Noteholder to comply with applicable law, such additional information as will enable the Noteholder to prepare its state and local income and franchise tax returnsNoteholders. In addition, any Committed Investor, Noteholder or Swap Provider may obtain from the Trustee, by written request to the Trustee, a copy of any Monthly Servicer Report or any annual compliance statement pursuant to Section 4.09 of the Sale and Servicing Agreement that has been delivered to the Trustee.Article Thirteen