Routine Periodic Adjustments. The Servicer shall file a Routine True-Up Letter at least 15 days before the end of any calendar quarter or Payment Date at such times as it may reasonably determine to meet the Required Debt Service for the then current Remittance Period, provided, however, that the Servicer shall promptly file a Routine True-Up Letter not later than September 15 of each year (A) in the event that the amount on deposit in the Note Issuer’s Overcollateralization Subaccount and Capital Subaccount has been, or will be, reduced to zero on any Payment Date, and (B) in any event, commencing September 15, 2013, until the Retirement of the Notes.
Appears in 4 contracts
Samples: Transition Property Servicing Agreement (BEC Funding II, LLC), Transition Property Servicing Agreement (BEC Funding II, LLC), Transition Property Servicing Agreement (CEC Funding, LLC)
