Common use of Servicer's Report Clause in Contracts

Servicer's Report. (a) On or before the Determination Date preceding each Payment Date, the Servicer shall deliver to the Indenture Trustee and each Paying Agent, with a copy to each of the Rating Agencies, a Servicer’s Report containing all information necessary to make the payments, transfers and distributions pursuant to Section 4.3 and Sections 8.2, 8.4 and 8.5 of the Indenture on such Payment Date. At the sole option of the Servicer, each Servicer’s Report may be delivered in electronic or hard copy format. No disbursements shall be made directly by the Servicer to a Noteholder or a Certificateholder, and the Servicer shall not be required to maintain any investor record relating to the posting of disbursements or otherwise. (b) The Indenture Trustee and the Owner Trustee shall have no duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Servicer’s Report delivered by the Servicer to the Indenture Trustee and the Owner Trustee, and the Indenture Trustee and the Owner Trustee shall be fully protected in relying upon such Servicer’s Report with no liability therefor. (c) No disbursements shall be made directly by the Servicer to a Noteholder or a Certificateholder, and the Servicer shall not be required to maintain any investor record relating to the posting of disbursements or otherwise.

Servicer's Report. (a) On or before the Determination Date preceding each Payment Date, the Servicer shall deliver to the Indenture Trustee and each Paying Agent, with a copy to each of the Rating Agencies, a Servicer’s Report containing all information necessary to make the payments, transfers and distributions pursuant to Section 4.3 hereof and Sections 8.2, 8.4 and 8.5 of the Indenture on such Payment Date. At the sole option of the Servicer, each Servicer’s Report may be delivered in electronic or hard copy format. No disbursements shall be made directly by the Servicer to a Noteholder or a Certificateholder, and the Servicer shall not be required to maintain any investor record relating to the posting of disbursements or otherwise. (b) The Indenture Trustee and the Owner Trustee shall have no duty or obligation to verify or confirm the accuracy of any of the information or numbers set forth in the Servicer’s Report delivered by the Servicer to the Indenture Trustee and the Owner Trustee, and the Indenture Trustee and the Owner Trustee shall be fully protected in relying upon such Servicer’s Report with no liability therefor. (c) No disbursements shall be made directly by the Servicer to a Noteholder or a Certificateholder, and the Servicer shall not be required to maintain any investor record relating to the posting of disbursements or otherwise.