Common use of Reports to the Indenture Trustee; Collection Account Statements Clause in Contracts

Reports to the Indenture Trustee; Collection Account Statements. Not later than fifteen days after each Payment Date, the Servicer shall forward to the Indenture Trustee, the Master Servicer and the Issuer a statement prepared by the Servicer setting forth the status of the Collection Account as of the close of business on such Payment Date and showing, for the period covered by such statement, the aggregate amount of deposits into and withdrawals from the Collection Account of each category of deposit specified in Section 3.10(a) and each category of withdrawal specified in Section 3.11. Such statement shall include information as to the aggregate of the outstanding principal balances of all of the Mortgage Loans as of the last day of the calendar month immediately preceding such Payment Date. Copies of such statement shall be provided by the Indenture Trustee to any Noteholder and to any Person identified to the Indenture Trustee as a prospective transferee of a Note, upon request at the expense of the requesting party, provided such statement is delivered by the Servicer to the Indenture Trustee.

Appears in 3 contracts

Samples: Servicing Agreement (Salomon Br Mor Sec Vii Inc Series 1998-11), Servicing Agreement (Salomon Br Mor Sec Vii Inc Series 1998-11), Servicing Agreement (Salomon Br Mor Sec Vii Inc Series 1998-11)

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Reports to the Indenture Trustee; Collection Account Statements. Not later than fifteen (15) days after each Payment Date, the Servicer shall forward provide to the Indenture Trustee, the Master Servicer Collateral Agent and the Issuer Initial Purchaser a statement prepared statement, certified by the Servicer a Servicing Officer, setting forth the status of the Collection Account as of the close of business on such the related Payment Date Date, stating that all payments required by this Agreement to be made by the Servicer on behalf of the Indenture Trustee have been made (or if any required payment has not been made by the Servicer, specifying the nature and status thereof) and showing, for the period covered by such statement, the aggregate amount of deposits into and withdrawals from the Collection Account of for each category of deposit specified in Section 3.10(a) 7.02 and each category of withdrawal specified in Section 3.117.03 and the aggregate of deposits into the Collection Account as specified in Section 8.01. Such statement shall include information as to also state the aggregate of the outstanding unpaid principal balances balance of all of the Mortgage Loans as of the close of business on the last day of the calendar month immediately preceding the month in which such Payment DateDate occurs. Copies of such statement shall be provided by the Indenture Trustee to any Noteholder and to any Person identified to the Indenture Trustee as a prospective transferee of a Note, upon request at the expense of the requesting party, provided such statement is delivered by the Servicer to the Indenture Trusteerequest.

Appears in 1 contract

Samples: Sale and Servicing Agreement (American Business Financial Services Inc /De/)

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