Common use of Statements to Noteholders Clause in Contracts

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.xx.xxxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerwebsite assistance line at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance and Adjusted Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount Outstanding Amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the Yield Supplement Overcollateralization Amount as of the opening of business on the first day of the preceding Collection Period and as of the close of business on the last day of the preceding Collection Period; (ix) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ixx) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.xx.xxxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerwebsite assistance line at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance and Adjusted Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the Yield Supplement Overcollateralization Amount as of the opening of business on the first day of the preceding Collection Period and as of the close of business on the last day of the preceding Collection Period; (ix) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ixx) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate. SECTION 5.10. [Reserved].

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.xx.xxxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerwebsite assistance line at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to provide each Noteholder of record a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.XXXXxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerCorporate Trust Office at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee shall make available include with each distribution to each Noteholder of record as of the related Record Date, a statement statement, prepared by the Servicer, based on the information in the Distribution Date Statement furnished pursuant to Section 3.09, setting forth at least for such Distribution Date the following information as to of the Notes to related Record Date or such Distribution Date, as the extent such information has been received from the Servicer pursuant to Section 4.9 hereofcase may be: (i) the amount of such distribution allocable to principal of (stated separately for each Class of Notes), separately identifying the aggregate amount included therein of any (i) Full Prepayments of principal on Precomputed Contracts and (ii) Full Prepayments and partial prepayments of principal on Simple Interest Contracts; (ii) the amount of such distribution allocable to interest on or with respect to (stated separately for each Class of Notes); (iii) the required Reserve Account Withdrawal Note Distributable Amount or any excess released from the Reserve Account and included in Available Fundsfor such Distribution Date; (iv) the Pool Balance as of Premium payable to the close of business on the last day of the preceding Collection PeriodInsurer; (v) the aggregate outstanding principal amount of each Class of to be on deposit in the Notes Spread Account on such Distribution Date, before and the Note Pool Factor for each such Class after giving effect to payments allocated deposits thereto and withdrawals therefrom to principal reported under (i) abovebe made in respect of such Distribution Date; (vi) the amount of the Servicing Fee withdrawal, if any, required to be made from the Spread Account by the Indenture Trustee, specifying as to whether such amount is to be (A) deposited into the Payment Account, (B) paid to the Servicer with respect Insurer or (C) deposited into the Note Distribution Account for distribution to the related Collection Period and/or due but unpaid with respect holders of the Residual Interests pursuant to such Collection Period or prior Collection Periods, as the case may beSection 4.04; (vii) the Noteholders’ Interest Carryover Amount, if any, and aggregate Servicing Fee with respect to the change in that amount from Contracts for the preceding statementrelated Collection Period; (viii) the amount of fees paid to the Owner Trustee, the Trust Agent and the Indenture Trustee, with respect to the related Collection Period; (ix) the amount of any Note Interest Carryover Shortfall and Note Principal Carryover Shortfall on such Distribution Date and the change in such amounts from those with respect to the immediately preceding Distribution Date; (x) the number of, and aggregate Realized Lossesamount of, monthly principal and interest payments due on the Contracts which are delinquent as of the end of the related Collection Period presented on a 30-day, 60-day and 90-day basis; (xi) the Net Collections and the Policy Claim Amount, if any, for such Distribution Date; (xii) the related aggregate amount of Liquidation Proceeds received for Defaulted Contracts; (xiii) the net credit losses and Cram Down Losses for the Collection Period; (xiv) the number and net outstanding balance of Contracts for which the Financed Vehicle has been repossessed; (xv) the Pool Balance and the Note Pool Factor for each Class of Notes as of such Distribution Date after giving effect to the distribution made on such Distribution Date; (xvi) on each Distribution Date occurring during and immediately following the end of the Funding Period, the amount on deposit in each of the Prefunding Account and the Capitalized Interest Account on such Distribution Date, before and after giving effect to withdrawals therefrom to be made in respect of such Distribution Date; (xvii) on each Distribution Date occurring during and immediately following the end of the Funding Period, the amounts of investment earnings and other amounts transferred from the Prefunding Account and the amounts transferred from the Capitalized Interest Account to the Payment Account; and (ixxviii) on the aggregate Purchase Amounts for ReceivablesDistribution Date immediately following the end of the Funding Period, if any, that were repurchased by the Servicer Mandatory Partial Redemption Amount. Each amount set forth pursuant to subclauses (i) or the Seller in such period(ii) above shall be expressed as a dollar amount per $1,000.00 of original principal amount of a Note. (b) The Indenture Trustee will make available Within a reasonable period of time after the end of each month to each Noteholder calendar year, but not later than the statements referred to in Section 5.9(a) above (and certain other documentslatest date permitted by law, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as shall prepare and furnish to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet websiteIssuer, the Indenture Trustee may require registration and each Paying Agent, and the acceptance Paying Agent for the Notes and the Paying Agent for the Residual Interest Instruments shall furnish to each Person who on any Record Date during such calendar year shall have been a Holder of a disclaimer. The Indenture Trustee shall not be liable Note or a Residual Interest Instrument, respectively, a statement or statements containing the sum of the amounts set forth in clauses (i) and (ii) above for such calendar year and such other information as is reasonably necessary for the dissemination preparation of information such Person's federal income tax return in accordance with this Agreement. The Indenture Trustee respect of the Notes or Residual Interest Instruments or, in the event such Person shall have been a Holder of a Note or a Residual Interest Instrument during a portion of such calendar year, for the right to change applicable portion of such year, for the way the statements referred to in Section 5.9(a) above are distributed in order to make purposes of such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification Noteholder's or Residual Interestholder's preparation of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriatefederal income tax returns.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance and Adjusted Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount Outstanding Amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the Yield Supplement Overcollateralization Amount as of the opening of business on the first day of the preceding Collection Period and as of the close of business on the last day of the preceding Collection Period; (ix) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ixx) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance and Adjusted Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the Yield Supplement Overcollateralization Amount as of the opening of business on the first day of the preceding Collection Period and as of the close of business on the last day of the preceding Collection Period; (ix) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ixx) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Payment Date, the Indenture Trustee shall make available mail or send by facsimile to each Noteholder of record the Noteholders and the Rating Agencies a statement prepared by the Servicer, setting forth at least for the Collection Period relating to such Payment Date the following information as to (which in the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof:case of items (i), (ii) and (iii) shall be based on a Note in a principal amount of $1,000): (i) the amount of such the distribution allocable to principal of for each Class of Notes, including any overdue principal; (ii) the amount of such the distribution allocable to interest on or with respect to for each Class of Notes, including any overdue interest; (iii) the required Reserve Account Withdrawal Amount or Monthly Servicing Fee, including any excess released from overdue Monthly Servicing Fee, the Reserve Account Owner Trustee's Fee and included in Available Fundsthe Indenture Trustee's Fee; (iv) the Pool Balance as of remaining balance in the close of business on Reserve Account, together with the last day of the preceding Collection PeriodReserve Account Withdrawal Amount; (v) the aggregate outstanding principal amount of each Class Pool Balance and Pool Factor as of the Notes and end of the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) aboverelated Collection Period; (vi) the amount Note Factor for each Class of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to Notes on such Collection Period or prior Collection Periods, as the case may bePayment Date; (vii) the Noteholders’ Interest Carryover Amount, if any, aggregate Principal Balance of all Receivables which were delinquent (1) 30 days or more and (2) 90 days or more as of the change in that amount from last day of the preceding statementrelated Collection Period; (viii) the amount Note Principal Balance for each Class of Notes (after giving effect to any distribution in respect of principal on such Payment Date) on which Note Current Interest will be calculated with respect to the next succeeding Payment Date; (ix) the aggregate Realized Lossesof all Purchase Amounts received on the related Determination Date; and (x) the aggregate amount received with respect to Defaulted Receivables, if anyincluding Liquidation Proceeds, for during the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee will make available Within the prescribed period of time for tax reporting purposes after the end of each month to each Noteholder calendar year during the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use term of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet websitethis Agreement, the Indenture Trustee may require registration shall mail, to each Person who at any time during such calendar year shall have been a Noteholder, a statement containing the sum of the amounts determined in clauses (i), (ii) and (iii) for such calendar year or, in the acceptance event such Person shall have been a Noteholder during a portion of a disclaimer. The Indenture Trustee shall not be liable such calendar year, for the dissemination applicable portion of such year, unless substantially comparable information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only has been provided to such Noteholder, for the then current Noteholders. The Indenture Trustee shall provide notification purposes of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 Noteholder's preparation of the Indenture or Section 11.5 of the Indenture, as appropriatefederal income tax returns.

Statements to Noteholders. (a) On or prior Not later than each Payment Date the Securities Administrator shall prepare a statement (the “Remittance Report”) containing the information set forth below with respect to each Distribution such Payment Date, which information shall be based solely upon the Indenture Trustee shall make available to each Noteholder of record a statement setting forth at least the following loan level information as to the Notes to the extent such information has been received from furnished by the Servicer pursuant to Section 4.9 hereofand the Master Servicer, as applicable, upon which the Securities Administrator shall conclusively rely without independent verification thereof: (i) the amount of such distribution allocable to principal of Available Funds and the Note Rate for each Class of Notesfor the related Payment Date; (ii) the aggregate amount of such distribution allocable to interest on or with respect the payment to each Class of NotesNotes on such Payment Date; (iii) the required Reserve Account Withdrawal Amount or amount of the payment set forth in paragraph (ii) above in respect of interest, the amount thereof in respect of any excess released from Class Interest Carryover Shortfall, and the Reserve Account amount of any Class Interest Carryover Shortfall remaining and included the amount thereof in Available Fundsrespect of any Class N Interest Shortfall, and the amount of any Class N Interest Shortfall remaining; (iv) the amount of the payment set forth in paragraph (ii) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any remaining Class Principal Carryover Shortfall; (v) the amount of Excess Interest paid as principal; (vi) the aggregate amount of the Servicing Fee and the Master Servicing Fee for such Payment Date; (vii) the Pool Balance and the aggregate Principal Balance of the Mortgage Loans in each Loan Group as of the close of business on the last day of the preceding Collection Due Period; (vviii) the aggregate outstanding principal amount Class Note Balance of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) aboveprincipal; (viix) the Overcollateralization Amount and the Required Overcollateralization Amount as of the close of business on the Payment Date, after giving effect to payments of principal on such Payment Date; (x) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof; (xi) the aggregate amount of Principal Prepayments received during the related Prepayment Period; (xii) the amount of all Curtailments that were received during the Due Period; (xiii) the principal portion of all Monthly Payments received during the Due Period; (xiv) the interest portion of all Monthly Payments received on the Mortgage Loans during the Due Period; (xv) the amount of the Servicing Fee paid Monthly Advances and the Compensating Interest payment to be made on the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may beDetermination Date; (viixvi) the Noteholders’ Interest Carryover Amount, if any, and amount to be distributed to the change in that amount from Certificates for the preceding statementPayment Date; (viiixvii) the weighted average remaining term to maturity of the Mortgage Loans and the weighted average Loan Rate as of the first day of the related Due Period; (xviii) the amount of all payments or reimbursements to the aggregate Realized LossesServicer pursuant to Sections 3.03(ii) and (vi) of the Servicing Agreement (as reported by the Servicer); (xix) the number of Mortgage Loans outstanding at the beginning and at the end of the related Due Period; (xx) the amount of Liquidation Loan Losses experienced during the preceding Due Period and the Cumulative Net Losses as a percentage of the Cut-Off Date Pool Balance; (xxi) as of the end of the preceding calendar month, if anythe number and Principal Balance of Mortgage Loans which are 30-59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth) (for the avoidance of doubt, delinquencies in this clause (xxi) are measured in accordance with the OTS method); (xxii) the amounts of Applied Realized Loss Amounts for the applicable Due Period and the cumulative amount of Applied Realized Loss Amounts to date; (xxiii) the number and aggregate Principal Balance of Mortgage Loans, other than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Collection PeriodDue Period (as reported by the Servicer) (xxiv) the amount of Basis Risk Shortfall Amount paid to each Class of Group I Notes; (xxv) the amount of any Net Swap Payments or Swap Termination Payments; (xxvi) whether a Stepdown Date or Trigger Event is in effect on such Payment Date; and (ixxxvii) the aggregate Purchase Amounts applicable Record Dates, Interest Accrual Periods and determination dates for Receivables, if any, that were repurchased by the Servicer or the Seller in calculating payments for such periodPayment Date. (b) The Securities Administrator shall make available such report to the Servicer, the Master Servicer, the Indenture Trustee Trustee, the Seller, the Noteholders, the Rating Agencies, Bloomberg (at 400 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, Attention: Mxxx Xxxxxx) and Intex Solutions (at 30 Xxxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxxxxxxx 00000, Attention: Hxxxxx Xxxxxxxx) on the Payment Date. The Securities Administrator may fully rely upon and shall have no liability with respect to information provided by the Servicer or the Master Servicer. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (vi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. (c) The Securities Administrator will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to each Noteholder Noteholders and the statements referred parties to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) this Indenture via the Indenture TrusteeSecurities Administrator’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeSecurities Administrator’s internet website shall initially be initially located at xxxx://xx.xxxxxxxxxx.xxx or “wxx.xxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Securities Administrator’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 Securities Administrator shall have the right to change the way Remittance Reports are distributed in order to make such other address as shall be specified by the Indenture Trustee from time to time in writing distribution more convenient and/or more accessible to the Noteholdersabove parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. In connection with providing As a condition to access to the Indenture TrusteeSecurities Administrator’s internet website, the Indenture Trustee Securities Administrator may require registration and the acceptance of a disclaimer. The Indenture Trustee shall Securities Administrator will not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Securities Administrator shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties also be entitled to receive such statements so long as such statements are only provided to rely on but shall not be responsible for the then current Noteholders. The Indenture Trustee shall provide notification content or accuracy of any such change to all information provided by third parties entitled to receive such statements for purposes of preparing the Remittance Report and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the manner described in Section 12.3 hereof, Section 11.4 part of the Indenture or Section 11.5 of the Indenture, as appropriateany other party hereto).

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance and Adjusted Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the Yield Supplement Overcollateralization Amount as of the opening of business on the first day of the preceding Collection Period and as of the close of business on the last day of the preceding Collection Period; (ix) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ixx) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxxx://xxx.XXXXxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate. SECTION 5.10. [Reserved].

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance and Adjusted Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the Yield Supplement Overcollateralization Amount as of the opening of business on the first day of the preceding Collection Period and as of the close of business on the last day of the preceding Collection Period; (ix) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ixx) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.XXXXxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.XXXXxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerCorporate Trust Office at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.xx.xxxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerwebsite assistance line at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate. SECTION 5.10. [Reserved].

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to provide each Noteholder of record (with a statement setting forth at least copy to the Insurer and the Rating Agencies) a copy of the Servicer’s Certificate which shall contain the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released amount of such distribution payable out of amounts withdrawn from the Reserve Spread Account and included in Available Fundsor pursuant to a claim on the Note Policy; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and; (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period; and (x) the aggregate Sale Amounts for Sold Receivables, if any, that were sold by the Issuer in such period. Each amount set forth pursuant to paragraph (i), (ii), (iii), (vi) and (vii) above shall be expressed as a dollar amount per $1,000 of the initial principal balance of the Notes (or Class thereof). (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a5.10(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, website with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.xxx.xx.xxx/xxxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerCorporate Trust Office at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a5.10(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholdersstatements. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution ------------------------- Date, the Indenture Trustee Trust Collateral Agent shall make available to provide each Noteholder of record (with a copy to the Insurer and the Rating Agencies) a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released amount of such distribution payable out of amounts withdrawn from the Reserve Spread Account and included in Available Fundsor pursuant to a claim on the Note Policy; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ ' Interest Carryover Amount, if any, Amount and the change in that amount from the preceding statementNoteholders' Principal Carryover Amount; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and; (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period.; (bx) The Indenture Trustee will make available each month for Distribution Dates during the Funding Period, if any, the remaining Pre-Funded Amount; and (xi) for the final Subsequent Transfer Date, the amount of any remaining Pre-Funded Amount that has not been used to each Noteholder fund the statements referred purchase of Subsequent Receivables and is passed through as principal to in Section 5.9(aNoteholders. Each amount set forth pursuant to paragraph (i), (ii), (iii), (vi) and (vii) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address expressed as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 dollar amount per $1,000 of the Indenture or Section 11.5 initial principal balance of the Indenture, as appropriateNotes (or Class thereof).

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Determination Date, the Indenture Trustee Servicer shall make available deliver to the Administrator (with an instruction for the Administrator to forward to each Noteholder of record and to each Certificateholder of record), and make available (via access to its or its Affiliate’s website address) to the Rating Agencies, the Indenture Trustee and any other interested party, a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iiiii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Fundsamount of such distribution allocable to principal of each Class of Notes; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (viii) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (iii) above; (iv) the current Note Rate applicable to each Class of Notes; (v) the Class A Interest Carryover Shortfall, if any, with respect to each Class of Notes; (vi) the Pool Balance at the beginning of the related Collection Period; (vii) the Pool Balance at the end of the related Collection Period; (viii) the amount of Collections for the related Collection Period; (ix) the amount of Collections allocable to principal payments on the Receivables for the related Collection Period; (x) the Net Liquidation Proceeds for such Collection Period; (xi) the principal amount of Receivables which were repurchased during the related Collection Period; (xii) the Substitution Adjustment Amount for the related Collection Period; (xiii) the weighted average coupon of the Receivables; (xiv) the weighted average remaining maturity of the Receivables; (xv) the Collection Account and Reserve Account investment income for the related Collection Period; (xvi) the beginning Reserve Account Balance; (xvii) the Targeted Reserve Account Balance; (xviii) the Reserve Account Shortfall Amount, if any, for such Distribution Date; (xix) the Reserve Account deposit, if any, for such Distribution Date; (xx) the release from the Reserve Account pursuant to Sections 3.03(b) and (f), if any, for such Distribution Date; (xxi) the ending Reserve Account Balance; (xxii) the Overcollateralization Amount prior to payments allocated to principal under (ii) above; (xxiii) the Overcollateralization Amount after giving effect to payments allocated to principal under (ii) above; (xxiv) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may bePeriod; (viixxv) the Noteholders’ Interest Carryover Amount, if any, Principal Balance and percentage of the change in Pool Balance of Receivables that amount from the preceding statementare one payment delinquent; (viiixxvi) the amount Principal Balance and percentage of the aggregate Realized Losses, if any, for Pool Balance of Receivables that are two payments delinquent; (xxvii) the Principal Balance and percentage of the Pool Balance of Receivables that are three or more payments delinquent; (xxviii) the Principal Balance and percentage of the Pool Balance of Receivables that are two or more payments delinquent; (xxix) the Principal Balance and percentage of the Pool Balance of repossessed vehicles; (xxx) the Principal Balance of Receivables that were extended or modified (and delinquency reset) during the related Collection Period; and (ixxxxi) the aggregate Purchase Amounts for Receivables, if any, Principal Balance of Receivables that were repurchased by extended or modified (and delinquency reset) during the Servicer or related Collection Period as a percentage of the Seller in Pool Balance at the end of such periodCollection Period. Each amount set forth pursuant to paragraphs (i) and (ii) above shall be expressed as a dollar amount per $1,000 of the initial principal balance of the applicable Class of Notes. (b) The Indenture Trustee will Administrator may, but is not obligated to, make available each month to the parties hereto and to each Noteholder of the statements referred to in Section 5.9(a) above (and certain other documentsNoteholders, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeAdministrator’s internet website, all information referred to in this Section 3.04 available each month and, with the consent or at the direction of the Seller, such other information regarding the Notes and/or the Receivables as the Administrator may have in its possession, but only with the use of a password provided by the Indenture TrusteeAdministrator. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeAdministrator’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as website, if applicable, shall be specified by the Indenture Trustee Administrator from time to time in writing to the parties hereto and the Noteholders. In connection with providing access to the Indenture TrusteeAdministrator’s internet website, the Indenture Trustee Administrator may require registration and the acceptance of a disclaimer. The Indenture Trustee Administrator shall not be liable for the its dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriateSeries Supplement.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount Outstanding Amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate. SECTION 5.10. [Reserved].

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.xxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior each Payment Date and any other date for distribution of any payments with respect to each Distribution Dateany class of Notes then Outstanding, the Indenture Trustee shall make available deliver a report, covering the information set forth in Exhibit D and prepared by the Servicer, giving effect to each Noteholder of record such payments (each, a statement setting forth at least the following information as “Distribution Report”), to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) each Noteholder and Beneficial Holder that has executed and delivered to the amount of such distribution allocable to principal of each Class of Notes; Registrar a Confidentiality Agreement, (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; Issuer, (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account Calculation Agent and included in Available Funds; (iv) the Pool Balance as Equityholder, and to no other Person. (b) Each Distribution Report provided to each Noteholder and Beneficial Holder by the Trustee for each Payment Date pursuant to Section 2.13(a), commencing June 15, 2014, or other date for distribution of the close of business payments on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under Notes, shall be accompanied by (i) above; a statement prepared by the Servicer setting forth an analysis of the Collection Account activity for the period commencing the day next following the preceding Calculation Date and ending on the Calculation Date relating to such Payment Date and (viii) the amount of the Servicing Fee paid to the Servicer information with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, collections and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivablespayments, if any, that were repurchased by the Issuer shall have provided to the Trustee pursuant to Section 5.3(c) (or the Servicer or shall have provided to the Seller Trustee pursuant to Section 3.1 of the Servicing Agreement) during the Interest Accrual Period then ended (including any reports produced by Counterparty pursuant to Section 8.7 of the Counterparty License Agreement), in such periodeach case, which information shall be treated confidentially pursuant to the terms of the Confidentiality Agreement. (bc) The Indenture After the end of each calendar year but not later than the latest date permitted by Applicable Law, the Trustee will make available each month shall (or shall instruct any Paying Agent to) furnish to each Person who at any time during such calendar year was a Noteholder the statements referred to in Section 5.9(aof any class of Notes a statement (for example, a Form 1099 or any other means required by Applicable Law) above (and certain other documents, reports and information regarding the Receivables provided prepared by the Servicer from time Trustee containing the sum of the amounts determined pursuant to time) via the Indenture Trusteeinformation covered by Exhibit D with respect to the class of Notes for such calendar year or, in the event such Person was a Noteholder of any class of Notes during only a portion of such calendar year, for the applicable portion of such calendar year, and such other items as are readily available to the Trustee and that a Noteholder shall reasonably request as necessary for the purpose of such Noteholder’s internet websitepreparation of its U.S. federal income or other tax returns. So long as any of the Notes are registered in the name of DTC or its nominee, with such report and such other items will be prepared on the use basis of a password provided such information supplied to the Trustee by DTC and the Agent Members and will be delivered by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to DTC and by DTC to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements applicable Beneficial Holders in the manner described above. In the event that any such information has been provided by any Paying Agent directly to such Person through other tax-related reports or otherwise, the Trustee in its capacity as Paying Agent shall not be obligated to comply with such request for information. (d) At such time, if any, as the Notes of any class are issued in the form of Definitive Notes, the Trustee shall prepare and deliver the information described in Section 12.3 hereof, Section 11.4 2.13(c) to each Noteholder of a Definitive Note of such class for the relevant period of registered ownership of such Definitive Note as appears on the books and records of the Indenture or Section 11.5 Trustee. (e) The Trustee shall be at liberty to sanction any method of giving notice to the Noteholders of any class if, in its opinion, such method is reasonable, having regard to the number and identity of the IndentureNoteholders of such class and/or to market practice then prevailing, is in the best interests of the Noteholders of such class, and any such notice shall be deemed to have been given on such date as appropriatethe Trustee may approve; provided, that notice of such method is given to the Noteholders of such class in such manner as the Trustee shall require.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to provide each Noteholder of record (with a statement setting forth at least copy to the Insurer and the Rating Agencies) a copy of the Servicer’s Certificate which shall contain the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released amount of such distribution payable out of amounts withdrawn from the Reserve Spread Account and included in Available Fundsor pursuant to a claim on the Note Policy; (iv) the Pool Aggregate Principal Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and; (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period; and (x) the aggregate Sale Amounts for Sold Receivables, if any, that were sold by the Trust in such period. Each amount set forth pursuant to paragraph (i), (ii), (iii), (vi) and (vii) above shall be expressed as a dollar amount per $1,000 of the initial principal balance of the Notes (or Class thereof). (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a5.10(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, website with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.xxx.xx.xxx/xxxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerCorporate Trust Office at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a5.10(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholdersstatements. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to provide each Noteholder of record (with a copy to the Rating Agencies) a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and; (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period; and (x) the aggregate Sale Amounts for Sold Receivables, if any, that were sold by the Issuer in such period. Each amount set forth pursuant to paragraph (i), (ii), (v) and (vii) above shall be expressed as a dollar amount per $1,000 of the initial principal balance of the Notes (or Class thereof). (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.XXXXxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerCorporate Trust Office at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount Outstanding Amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.xx.xxxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerwebsite assistance line at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date (other than the Special Distribution Date), the Indenture Trustee shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount Outstanding Amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Xxxxxxxxx Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.xx.xxxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerwebsite assistance line at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee shall make available include with each distribution to each Noteholder of record a Noteholder, the Servicer's Certificate (which statement shall also have been provided to the Security Insurer and to each Rating Agency by the Servicer) delivered on the related Determination Date pursuant to Section 3.9, setting forth at least for the Monthly Period relating to such Payment Date the following information as with respect to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofeach class of Notes: (i) the amount of such distribution allocable to principal of each Class of Notesprincipal; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notesinterest; (iii) the required Reserve Account Withdrawal Amount or any excess released amount of such distribution payable out of amounts withdrawn from the Reserve Account, the Class A-1 Holdback Subaccount, the Spread Account and included in Available Fundsor pursuant to a claim on the Note Policy; (iv) the Pool Balance as outstanding principal balance of the close of business Notes (after giving effect to distributions made on the last day of the preceding Collection Periodsuch Distribution Date); (v) the aggregate outstanding principal amount of each Class of A-1 Interest Carryover Shortfall, the Notes Class A-2 Interest Carryover Shortfall, the Class A-3 Interest Carryover Shortfall, the Class A-4 Interest Carryover Shortfall, the Class A-5 Interest Carryover Shortfall and the Note Pool Factor for each Noteholders' Principal Carryover Shortfall, if any, and the change in such Class after giving effect to payments allocated to principal reported under (i) aboveamounts from the preceding statement; (vi) the amount of fees paid by the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid Trust with respect to such Collection Period or prior Collection Periods, as the case may beMonthly Period; (vii) for Payment Dates during the Noteholders’ Interest Carryover Funding Period, the remaining Pre-Funded Amount, the remaining Reserve Amount and the amount on deposit in the Class A-1 Holdback Subaccount; (viii) for the Payment Date on or immediately following the end of the Funding Period, the Class A-1 Prepayment Amount, the Class A-2 Prepayment Amount, the Class A-3 Prepayment Amount, the Class A-4 Prepayment Amount, the Class A-5 Prepayment Amount, the Class A-1 Prepayment Premium, the Class A-2 Prepayment Premium, the Class A-3 Prepayment Premium, the Class A-4 Prepayment Premium and the Class A-5 Prepayment Premium, if any, and the change in remaining Reserve Amount that amount from has not been distributed pursuant to Section 4.6 or to the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related Collection PeriodDepositor; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in Note Pool Factor with respect to each class of Notes (after giving effect to distributions made on such periodPayment Date). Each amount set forth pursuant to subclauses (i) through (iv) above may be expressed as a dollar amount per $1,000 of original principal balance of a Note. (b) The Indenture Trustee will make available each month to each Noteholder Note Owners may obtain copies of the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified delivered by the Indenture Trustee from time pursuant to time in writing to the Noteholders. In connection with providing access subsection (b) above upon written request to the Indenture Trustee’s internet website, the Indenture Trustee may require registration at its Corporate Trust Office (together with a certification that such Person is a Note Owner and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification payment of any such change to all parties entitled to receive such statements in expenses associated with the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriatedistribution thereof).

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate. SECTION 5.10. [Reserved].

Statements to Noteholders. (a) On or At least three Business Days prior to each Distribution Monthly Payment Date, the Servicer shall provide to the Indenture Trustee shall make available and the Owner Trustee (with a copy to each Paying Agent) information relating to the Receivables for the applicable Collection Period in order that the Indenture Trustee may perform the requisite calculations and forward to each Noteholder of record as of the most recent Record Date a statement substantially in the form of Exhibit A setting forth at least the information specified in such Exhibit and the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of distributions to be made on such distribution Monthly Payment Date allocable to principal of each Class of Notes; (ii) the amount of such distribution distributions to be made on such Monthly Payment Date allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from outstanding principal balance of each Class of Notes and the Reserve Account and included in Available FundsNote Pool Factor for each such Class, after giving effect to payments allocated to principal reported under clause (i) above; (iv) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period or Collection Periods, as the case may be; (v) the amount of Realized Losses, if any, with respect to the related Collection Period; (vi) the balance of the Reserve Account on such Monthly Payment Date after giving effect to deposits and withdrawals to be made on such Monthly Payment Date, if any; (vii) the Pool Balance as of the close of business on the last day of the preceding Collection Period;; and (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (viiviii) the Noteholders’ ' Interest Carryover AmountShortfall, if any, and the change in that amount such amounts from the preceding statement; . Each amount set forth on the Monthly Payment Date statement under clauses (i), (ii), (iv) and (viii) the above shall be expressed as a dollar amount per $1,000 of the aggregate Realized Losses, if any, for the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use original principal balance of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriateNote.

Statements to Noteholders. (a) On or prior to each Determination Date preceding a Distribution Date, pursuant to the Administration Agreement the Administrator shall provide to the Indenture Trustee shall make available (with a copy to the Owner Trustee and the Rating Agencies) for the Indenture Trustee to forward on such succeeding Distribution Date to each Noteholder holder of record of the Notes a statement setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i1) the amount of such the distribution allocable to principal of each Class of Notes; (ii2) the amount of such the distribution allocable to interest on or each Class of Notes (including, with respect to each the Class of B Notes, the Class C Notes and the Class D Notes, the portion allocable to Noteholders’ Interest Carryover Shortfall), together with the interest rates applicable with respect thereto; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv3) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class , after giving effect to the related payments allocated to principal reported under clause (i1) above; (vi4) the aggregate outstanding principal balance of each Class of Notes as of such Distribution Date, after giving effect to related payments allocated to principal reported under clause (1) above; (5) for each Distribution Date (A) the amount of fees and expenses paid to the Indenture Trustee and the Owner Trustee; (B) the amount of the Servicing Fee and expenses paid to the Servicer with respect Servicers; (C) the amount of fees paid to XXXX; (D) the amount of the Administration Fee and expenses paid to the related Collection Period and/or due but unpaid Administrator, and (E) the amount of the Back-Up Administration Fee and expenses paid to the Back-Up Administrator, and, in each case, with respect to such Collection Period or prior Collection PeriodsPeriod, as together with the case may be; (vii) the Noteholders’ Interest Carryover Amountamount, if any, and the change in that amount from the preceding statementremaining unpaid after giving effect to all such payments; (viii6) for each Distribution Date, the amount of the aggregate Realized LossesLosses for the Financed Student Loans, if any, for such Collection Period and the related balance of the Financed Student Loans that are delinquent in each delinquency period as of the end of such Collection Period; (7) the balance of the Reserve Account on such Distribution Date, after giving effect to changes therein on such Distribution Date; (8) the amounts withdrawn from the Reserve Account on such Distribution Date; (9) the amount of any Advance with respect to such Distribution Date; (10) the amount transferred to the XXXX Pledge Fund to acquire Rehabilitated Student Loans with respect to such Distribution Date; and (ix11) the aggregate Purchase Amounts for Receivablesamount of the distribution allocable to Prepayment Penalties. Each amount set forth pursuant to clauses (1), if any(2), that were repurchased by the Servicer or the Seller in such period. (b3), (5) The Indenture Trustee will make available each month to each Noteholder and (6) above shall be expressed as a dollar amount. A copy of the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided may be obtained by the Servicer from time any Note Owner by a written request to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing addressed to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriateCorporate Trust Office.

Statements to Noteholders. (a) On or prior to each Determination Date preceding a Distribution Date, pursuant to the Administration Agreement the Administrator shall provide to the Indenture Trustee shall make available (with a copy to the Owner Trustee and the Rating Agencies) for the Indenture Trustee to forward on such succeeding Distribution Date to each Noteholder holder of record of the Notes a statement setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i1) the amount of such the distribution allocable to principal of each Class of Notes; (ii2) the amount of such the distribution allocable to interest on or each Class of Notes (including, with respect to each the Class of B Notes, the Class C Notes and the Class D Notes, the portion allocable to Noteholders' Interest Carryover Shortfall), together with the interest rates applicable with respect thereto; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv3) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class , after giving effect to the related payments allocated to principal reported under clause (i1) above; (vi4) the aggregate outstanding principal balance of each Class of Notes as of such Distribution Date, after giving effect to related payments allocated to principal reported under clause (1) above; (5) for each Distribution Date (A) the amount of fees and expenses paid to the Indenture Trustee and the Owner Trustee; (B) the amount of the Servicing Fee and expenses paid to the Servicer with respect Servicers; (C) the amount of fees paid to XXXX; (D) the amount of the Administration Fee and expenses paid to the related Collection Period and/or due but unpaid Administrator, and (E) the amount of the Back-Up Administration Fee and expenses paid to the Back-Up Administrator, and, in each case, with respect to such Collection Period or prior Collection PeriodsPeriod, as together with the case may be; (vii) the Noteholders’ Interest Carryover Amountamount, if any, and the change in that amount from the preceding statementremaining unpaid after giving effect to all such payments; (viii6) for each Distribution Date, the amount of the aggregate Realized LossesLosses for the Financed Student Loans, if any, for such Collection Period and the related balance of the Financed Student Loans that are delinquent in each delinquency period as of the end of such Collection Period; (7) the balance of the Reserve Account on such Distribution Date, after giving effect to changes therein on such Distribution Date; (8) the amounts withdrawn from the Reserve Account on such Distribution Date; (9) the amount of any Advance with respect to such Distribution Date; (10) the amount transferred to the XXXX Pledge Fund to acquire Rehabilitated Student Loans with respect to such Distribution Date; and (ix11) the aggregate Purchase Amounts for Receivablesamount of the distribution allocable to Prepayment Penalties. Each amount set forth pursuant to clauses (1), if any(2), that were repurchased by the Servicer or the Seller in such period. (b3), (5) The Indenture Trustee will make available each month to each Noteholder and (6) above shall be expressed as a dollar amount. A copy of the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided may be obtained by the Servicer from time any Note Owner by a written request to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing addressed to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriateCorporate Trust Office.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee shall make available on its website at xxx.xxxxxxxx.xxx/xxx to each Noteholder of record as of the related Record Date, and to each other party to this Agreement, a statement statement, prepared by the Servicer, based on the information in the Distribution Date Statement furnished pursuant to Section 3.09, setting forth at least for such Distribution Date the following information as to of the Notes to related Record Date or such Distribution Date, as the extent such information has been received from the Servicer pursuant to Section 4.9 hereofcase may be: (i) the amount of such distribution allocable to principal of (stated separately for each Class of Notes), separately identifying the aggregate amount included therein of any (i) Full Prepayments of principal on Precomputed Contracts and (ii) Full Prepayments and partial prepayments of principal on Simple Interest Contracts; (ii) the amount of such distribution allocable to interest on or with respect to (stated separately for each Class of Notes); (iii) the required Reserve Account Withdrawal Note Distributable Amount or any excess released from the Reserve Account and included in Available Fundsfor such Distribution Date; (iv) the Pool Balance as of Premium payable to the close of business on the last day of the preceding Collection PeriodInsurer; (v) the aggregate outstanding principal amount of each Class of to be on deposit in the Notes Spread Account on such Distribution Date, before and the Note Pool Factor for each such Class after giving effect to payments allocated deposits thereto and withdrawals therefrom to principal reported under (i) abovebe made in respect of such Distribution Date; (vi) the amount of the Servicing Fee withdrawal, if any, required to be made from the Spread Account by the Indenture Trustee, specifying as to whether such amount is to be (A) deposited into the Payment Account, (B) paid to the Servicer with respect Insurer or (C) deposited into the Note Distribution Account for distribution to the related Collection Period and/or due but unpaid with respect holders of the Residual Interests pursuant to such Collection Period or prior Collection Periods, as the case may beSection 4.04; (vii) the Noteholders’ Interest Carryover Amount, if any, and aggregate Servicing Fee with respect to the change in that amount from Contracts for the preceding statementrelated Collection Period; (viii) the amount of fees paid to the Backup Servicer, Owner Trustee, the Trust Agent and the Indenture Trustee, with respect to the related Collection Period; (ix) the amount of any Note Interest Carryover Shortfall and Note Principal Carryover Shortfall on such Distribution Date and the change in such amounts from those with respect to the immediately preceding Distribution Date; (x) the number of, and aggregate Realized Lossesamount of, monthly principal and interest payments due on the Contracts which are delinquent as of the end of the related Collection Period presented on a 30-day, 60-day and 90-day basis; (xi) the Net Collections and the Insured Amount, if any, for such Distribution Date; (xii) the related aggregate amount of Liquidation Proceeds received for Defaulted Contracts; (xiii) the net credit losses and Cram Down Losses for the Collection Period; (xiv) the number and net outstanding balance of Contracts for which the Financed Vehicle has been repossessed; (xv) the Pool Balance and the Note Pool Factor for each Class of Notes as of such Distribution Date after giving effect to the distribution made on such Distribution Date; (xvi) on each Distribution Date occurring during and immediately following the end of the Funding Period, the amount on deposit in each of the Prefunding Account and the Capitalized Interest Account on such Distribution Date, before and after giving effect to withdrawals therefrom to be made in respect of such Distribution Date; (xvii) on each Distribution Date occurring during and immediately following the end of the Funding Period, the amounts of investment earnings and other amounts transferred from the Prefunding Account and the amounts transferred from the Capitalized Interest Account to the Payment Account; and (ixxviii) on the aggregate Purchase Amounts for ReceivablesDistribution Date immediately following the end of the Funding Period, if any, that were repurchased by the Servicer Mandatory Partial Redemption Amount. Each amount set forth pursuant to subclauses (i) or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(aii) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use shall be expressed as a dollar amount per $1,000.00 of original principal amount of a password provided Note. Assistance in using the website can be obtained by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by calling the Indenture Trustee from time at 0-000-000-0000. Parties that are unable to time in writing use the above distribution option are entitled to the Noteholders. In connection with providing access have a paper copy mailed to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreementthem via first class mail by calling 0-000-000-0000. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above Noteholders are distributed in order to make such distribution more convenient and/or more accessible to convenient, and the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide timely and adequate notification of any such change to all above parties entitled regarding such changes. (b) 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 prepare and furnish to receive the Issuer, the Indenture Trustee and each Paying Agent, and the Paying Agent for the Notes and the Paying Agent for the Residual Interest Instruments shall furnish to each Person who on any Record Date during such calendar year shall have been a Holder of a Note or a Residual Interest Instrument, respectively, a statement or statements containing the sum of the amounts set forth in clauses (i) and (ii) above for such calendar year and such other information as is reasonably necessary for the preparation of such Person's federal income tax return in respect of the Notes or Residual Interest Instruments or, in the manner described in Section 12.3 hereofevent such Person shall have been a Holder of a Note or a Residual Interest Instrument during a portion of such calendar year, Section 11.4 for the applicable portion of such year, for the Indenture purposes of such Noteholder's or Section 11.5 Residual Interestholder's preparation of the Indenture, as appropriatefederal income tax returns.

Statements to Noteholders. (a) On or prior With respect to each Distribution Payment Date, the Indenture Trustee shall make available via the Indenture Trustee's website xxxxx://xxx.xxxxxxxx.xxx/sfr or deliver at the recipient's option to each Noteholder of record and each Certificateholder, the Depositor, the Owner Trustee, the Certificate Paying Agent, the Underwriter and each Rating Agency, a statement setting forth at least the following information, calculated by the Indenture Trustee based on the aggregate loan-level information provided to it by the Servicer, as to the Notes (it being understood that the Servicer shall provide the information described in clauses (iv), (v), (vi), (vii) and (viii) below in its Electronic File delivered to the Indenture Trustee), to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of the payment made on such distribution allocable Payment Date to principal the Holders of the Notes of each Class of Notesallocable to principal; (ii) the amount of the payment made on such distribution Payment Date to the Holders of the Notes of each Class allocable to interest on or with respect to each Class of Notesinterest; (iii) the required Reserve Account Withdrawal Amount aggregate Servicing Fee received by the Servicer during the related Due Period and such other customary information as the Indenture Trustee deems necessary or any excess released from the Reserve Account desirable, or which a Noteholder or Certificateholder reasonably requests, to enable Noteholders and included in Available FundsCertificateholders to prepare their tax returns; (iv) the Pool aggregate Principal Balance of the Contracts as of the close of business on the last day end of the preceding Collection related Due Period; (v) the number, aggregate outstanding principal amount of each Class balance, weighted average remaining term to maturity and weighted average Contract Rate of the Notes and Contracts as of the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) aboveend of the related Due Period; (vi) the amount number and aggregate unpaid principal balance of Contracts (a) delinquent 30 to 59 days, (b) delinquent 60 to 89 days, (c) delinquent 90 or more days, in each case, as of the Servicing Fee paid last day of the preceding calendar month, (d) as to the Servicer which repossession or foreclosure proceedings have been commenced and (e) with respect to which the related Collection Period and/or due but unpaid Obligor has filed for protection under applicable bankruptcy laws, with respect to such Collection Period whom bankruptcy proceedings are pending or prior Collection Periods, as the case may bewith respect to whom bankruptcy protection is in force; (vii) the Noteholders’ Interest Carryover Amount, if any, and aggregate amount of Principal Prepayments received during the change in that amount from the preceding statementrelated Prepayment Period; (viii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the aggregate amount of Realized Losses, if any, for Losses incurred since the related Collection Period; andClosing Date; (ix) the aggregate Purchase Amounts Note Balance of each Class of Notes, after giving effect to the payments made on such Payment Date and the Adjusted Note Balance of each Class of Mezzanine Notes on such Payment Date; (x) the Interest Payment Amount in respect of the Class A Notes, the Mezzanine Notes and the Class B Notes for Receivablessuch Payment Date and the Class M-1 Liquidation Loss Interest Amount, Class M-2 Liquidation Loss Interest Amount, Class B-1 Liquidation Loss Interest Amount, Class B-2 Liquidation Loss Interest Amount and any Available Funds Cap Carry-Forward Amount, if any, that were repurchased by with respect to the Servicer Class A Notes, the Mezzanine Notes or the Seller Class B Notes on such Payment Date, and in the case of the Class A-4 Notes, the Mezzanine Notes and the Class B Notes, separately identifying any reduction thereof due to Realized Losses (in the case of the Mezzanine Notes and Class B Notes only), prepayments and the Relief Act; (xi) the Overcollateralization Target Amount for such periodPayment Date; (xii) the Overcollateralization Amount, if any, for such Payment Date; (xiii) the respective Note Rates applicable to the Mezzanine Notes for such Payment Date and the Available Funds Cap Carry-Forward Amount for each Class of Mezzanine Notes, if any, for such Payment Date; and (xiv) the amount of such distribution to the Trust Certificates. (b) The Indenture Trustee will make available each month to each Noteholder may conclusively rely upon the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables Electronic File provided by the Servicer from time pursuant to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 4.01 of the Indenture or Section 11.5 Servicing Agreement in its preparation of the Indenture, as appropriateits Statement to Noteholders.

Statements to Noteholders. (a) On or prior to the close of business on each Distribution Payment Determination Date, the Issuer shall cause the Manager to provide to the Indenture Trustee shall make available for the Indenture Trustee to (x) post on its internet website pursuant to Section 6.6 of the Indenture or (y) provide to each Noteholder of record Hedge Counterparty who does not then have access to such website pursuant to Section 6.6 hereof, a statement substantially in the form of Exhibit D hereto, setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (ia) the amount of such distribution allocable to principal of each Class of Notes; (ii) Collections and Asset Disposition Proceeds, if any, received in the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Collection Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid Period; (b) confirmation of compliance with the terms of the Indenture and the other Basic Documents; (c) other reports received or prepared by the Manager in respect of the Midstream Assets, the Oil and Gas Portfolio and the Hedge Agreements, along with a summary of all Hedge Agreements in place, including volumes and percentage of production that is hedged, along with a calculation of the hedge ratio; (d) the amount of Administrative Expenses, Direct Expenses and indemnity payments paid to each party or withheld by the Operator pursuant to the Joint Operating Agreement, Pipeline Operating Agreement, or the Management Services Agreement during the most recent Collection Period; (e) the amount of any fees and expenses paid to the Indenture Trustee, the Manager or the Back-up Manager with respect to the related Collection Period; (f) if any, the amount of any payment (including breakage or termination payments) paid to the Hedge Counterparties with respect to the related Collection Period; (g) the amount deposited in or withdrawn from the Liquidity Reserve Account on such Payment Determination Date, the amount on deposit in the Liquidity Reserve Account after giving effect to such deposit or withdrawal and the Liquidity Reserve Account Target Amount for such Payment Date; (h) the amount deposited in or withdrawn from the P&A Reserve Account on such Payment Determination Date, the amount on deposit in the P&A Reserve Account after giving effect to such deposit or withdrawal and the P&A Reserve Account Target Amount for such Payment Date; (i) the Outstanding Principal Amount, the Principal Distribution Amount and the Excess Amortization Amount (if any), with respect to such Collection Period or prior Collection Periods, as the case may bePayment Determination Date; (viij) the Noteholders’ Note Interest Carryover Amount, if any, and the change in that amount from the preceding statementwith respect to such Payment Date; (viiik) the Excess Allocation Percentage (if any) with respect to such Payment Date; (l) the amount of the DSCR, the IO DSCR, the LTV, the Production Tracking Rate and the Securitized Net Cash Flow, in each case with respect to the related Collection Period (m) the amounts on deposit in each Issuer Account as of the related Payment Determination Date; (n) amounts due and owing and paid to the Noteholders under the Note Purchase Agreement and other Basic Documents; (o) identification of any Assets repurchased by Diversified by Well number with respect to such Asset (as specified in the Schedule of Assets), to the extent applicable; (p) a listing of all Permitted Indebtedness outstanding as of such date; (q) the amount of any Excess Funds and AFE Cover Amounts utilized to participate in AFE Operations during the related Collection Period; (r) a listing of any Additional Assets acquired by the Issuer or Guarantors; (s) any reports regarding greenhouse gas or other carbon emissions associated with any Issuer Party’s operations or the products, to the extent publicly disclosed by the Issuer or any of its Affiliates; (t) the amount of Asset Disposition Proceeds deposited in the Asset Disposition Proceeds Account; (u) on an annual basis, on the Payment Determination Date occurring in March such report shall include the aggregate Realized LossesP&A Expense Amount for the preceding year and the excess, if any, for of the related Collection PeriodP&A Expense Amount in excess of the P&A Reserve Trigger Amount; (v) on an annual basis such report shall include any change, set forth to the fourth decimal place, in the Net Revenue Interest or Working Interest with respect to any Well from the Net Revenue Interest or Working Interest reflected in the most recent Reserve Report, except to the extent already expressly identified in a report under this Section 8.8; (w) reasonably detailed information regarding any Title Failure (as defined in the Separation Agreement or the Contribution Agreement) of which any Issuer Party has Knowledge and all documentation with respect to any actions, claims or Proceedings under the Separation Agreement or the Contribution Agreement; (x) any material Environmental Liability of which Issuer, Operator, Manager or any Affiliate thereof obtained Knowledge since the most recent report delivered under this Section 8.8; (y) the filing or commencement of, or the threat in writing of, any action, suit, investigation, arbitration or proceeding by or before any arbitrator or Governmental Body against Issuer, or any material adverse development in any action, suit, proceeding, investigation or arbitration (whether or not previously disclosed), that, in either case, if adversely determined, could reasonably be expected to result in liability in excess of $250,000; (z) the VE Score (or equivalent metric) with respect to Diversified Energy Company Plc as of such date, and, any adjusted Interest Rate in connection with Section 2.8(f) and the commencement date thereof; (aa) a reasonably detailed description of any Permitted Dispositions; and (ixbb) the aggregate Purchase Amounts for Receivablesestimated throughput volumes, if anyrevenues, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as Expenditures related to the accuracy Midstream Assets. Deliveries pursuant to this Section 8.8 or completeness any other Section of such documents, reports and information regarding the Receivables provided this Indenture may be delivered by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriateelectronic mail.

Statements to Noteholders. (ai) On or prior to each Distribution Determination Date preceding a Quarterly Payment Date, the Administrator shall provide to the Indenture Trustee shall make available and any Swap Counterparties (with a copy to the Rating Agencies) for the Indenture Trustee to forward on such succeeding Quarterly Payment Date to each Noteholder of record a statement substantially in the form of Exhibit B setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofNotes: (iA) the amount of such distribution allocable to principal of each the Notes, the amount thereof distributable as principal of the Class A-1 Notes, the Class A-2 Notes and the Subordinate Notes, and the amount thereof attributable to the Principal Distribution Amount and the amount thereof attributable to Reserve Account Excess; (B) the amount of the distribution allocable on such Quarterly Payment Date to interest on the Class A-1 Notes; (iiC) the amount of such the distribution allocable on such Quarterly Payment Date to interest on or with respect to each the Class of A-2 Notes; (iiiD) the required Reserve Account Withdrawal Amount or any excess released from amount of the Reserve Account and included in Available Fundsdistribution allocable on such Quarterly Payment Date to interest on the Subordinate Notes; (ivE) [Reserved]; (F) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class , after giving effect to payments allocated to principal reported under clause (iA) above; (viG) the aggregate outstanding principal amount of the Class A-1 Notes, the Class A-2 Notes, the Subordinate Notes, the Class A-1 Note Pool Factor, the Class A-2 Note Pool Factor and the Subordinate Note Pool Factor as of such Quarterly Payment Date, after giving effect to payments allocated to principal reported under clause (A) above; (H) the Note Rate applicable with respect to each distribution referred to in clauses (B), (C) and (D) above; (I) the amount of the Servicing Fee paid to the Servicer with respect on such Quarterly Payment Date and on each Monthly Payment Date following the immediately preceding Quarterly Payment Date including a breakdown of the components of the Servicing Fee attributable to each of the related Collection Period and/or due but unpaid with respect to items specified in clauses II(i) through (ix) of Section 3.06 of the Servicing Agreement and the amount of any Servicing Fee Shortfall for such Collection Period or prior Collection Periods, as Quarterly Payment Date and for each Monthly Payment Date following the case may beimmediately preceding Quarterly Payment Date; (viiJ) the Noteholders’ Interest Carryover Amount, if any, amount of the Administration Fee paid to the Administrator on such Quarterly Payment Date and on each Monthly Payment Date following the change in that amount from the immediately preceding statementQuarterly Payment Date; (viiiK) the Trust Swap Payment Amount paid to any Swap Counterparties on such Quarterly Payment Date, the amount of any Net Trust Swap Payment Carryover Shortfall for such Quarterly Payment Date, the Trust Swap Receipt Amounts, if any paid to the Trust on such Quarterly Payment Date and the amount of any Net Trust Swap Receipt Carryover Shortfall for such Quarterly Payment Date; (L) [Reserved]; (M) the amount of the aggregate Realized Losses, if any, for such Collection Period and the balance of Financed Student Loans that are delinquent in each delinquency period as of the end of such Collection Period; (N) the balance of the Reserve Account on such Quarterly Payment Date, after giving effect to changes therein on such Quarterly Payment Date and indicating whether on such Quarterly Payment Date or any Monthly Payment Date since the preceding Quarterly Payment Date any withdrawal was made therefrom pursuant to Section 2(e)(iv), the amount of each such withdrawal and the purpose(s) pursuant to Section 2(e)(iv) for each such withdrawal; (O) For Quarterly Payment Dates during the Revolving Period, the amount on deposit in the Prefunding Account and indicating whether on such Quarterly Payment Date or any Monthly Payment Date since the preceding Quarterly Payment Date any withdrawal was made therefrom pursuant to Section 2(k)(ii), the amount of each such withdrawal and the purposes pursuant to Section 2(k)(ii) for each such withdrawal; (P) for Quarterly Payment Dates during the Revolving Period, the amount deposited into the Collateral Reinvestment Account during the related Collection Period and on the immediately preceding Quarterly Payment Date, and the amount on deposit therein after giving effect to changes therein on such Quarterly Payment Date; (Q) for the Quarterly Payment Date on or immediately following the end of the Revolving Period: (1) the amount remaining on deposit in the Collateral Reinvestment Account that has not been used to make Additional Fundings and (2) the amount remaining in the Prefunding Account; (i) the principal balance and number of Consolidation Loans originated on behalf of the Issuer during the related Collection Period, (ii) the principal balance and number of Add-on Consolidation Loans the principal balances of which have been added to the Trust during the related Collection Period and (iii) the amount withdrawn from the Collateral Reinvestment Account to prepay Student Loans not held by the Issuer that were consolidated through such origination (or addition, in the case of Add-on Consolidation Loans) with one or more Financed Student Loans during such Collection Period; (S) the principal balance and number of Serial Loans conveyed to the Issuer during the related Collection Period, the aggregate Loan Purchase Amounts thereof and the portion thereof attributable to Purchase Premium Amounts; (T) for Quarterly Payment Dates during the Revolving Period, the principal balance and number of New Loans conveyed to the Issuer during the related Collection Period, the aggregate Loan Purchase Amounts thereof and the portion thereof attributable to Purchase Premium Amounts; and (ixU) the aggregate Purchase Amounts for Receivablesnumber and principal balance of Financed Student Loans, if anyas of the end of the related Collection Period, that were repurchased are In-School, Grace, Repayment, Deferral, Forbearance or Consolidation Loans as of the end of the related Collection Period, and a breakdown by the Servicer or the Seller in such period. number and principal balance of Financed Student Loans, by school type, interest rate and loan program. Each amount set forth pursuant to clauses (bA), (B), (C), (D) The Indenture Trustee will make available each month to each Noteholder and (E) above shall be expressed as a dollar amount per [ ] of original principal amount of a Note. A copy of the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided may be obtained by the Servicer from time any Note Owner by a written request to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing addressed to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriateCorporate Trust Office.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance and Adjusted Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount Outstanding Amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the Yield Supplement Overcollateralization Amount as of the opening of business on the first day of the preceding Collection Period and as of the close of business on the last day of the preceding Collection Period; (ix) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ixx) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.. SECTION 5.10. [Reserved] [Reserved]

Statements to Noteholders. (a) On or prior With respect to each Distribution Payment Date, the Indenture Trustee shall make available via the Indenture Trustee's website xxxxx://xxx.xxxxxxxx.xxx/sfr or deliver at the recipient's option to each Noteholder of record and each Certificateholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth at least the following information, calculated by the Indenture Trustee based on the aggregate loan-level information provided to it by the Servicer, as to the Notes (it being understood that the Servicer shall provide the information described in clauses (iv), (v), (vi), (vii) and (viii) below in its Electronic File delivered to the Indenture Trustee), to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of the payment made on such distribution allocable Payment Date to principal the Holders of the Notes of each Class of Notesallocable to principal; (ii) the amount of the payment made on such distribution Payment Date to the Holders of the Notes of each Class allocable to interest on or with respect to each Class of Notesinterest; (iii) the required Reserve Account Withdrawal Amount aggregate Servicing Fee received by the Servicer during the related Due Period and such other customary information as the Indenture Trustee deems necessary or any excess released from the Reserve Account desirable, or which a Noteholder or Certificateholder reasonably requests, to enable Noteholders and included in Available FundsCertificateholders to prepare their tax returns; (iv) the Pool aggregate Principal Balance of the Contracts as of the close of business on the last day end of the preceding Collection related Due Period; (v) the number, aggregate outstanding principal amount of each Class balance, weighted average remaining term to maturity and weighted average Contract Rate of the Notes and Contracts as of the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) aboveend of the related Due Period; (vi) the amount number and aggregate unpaid principal balance of Contracts (a) delinquent 30 to 59 days, (b) delinquent 60 to 89 days, (c) delinquent 90 or more days, in each case, as of the Servicing Fee paid last day of the preceding calendar month, (d) as to the Servicer which repossession or foreclosure proceedings have been commenced and (e) with respect to which the related Collection Period and/or due but unpaid Obligor has filed for protection under applicable bankruptcy laws, with respect to such Collection Period whom bankruptcy proceedings are pending or prior Collection Periods, as the case may bewith respect to whom bankruptcy protection is in force; (vii) the Noteholders’ Interest Carryover Amount, if any, and aggregate amount of Principal Prepayments received during the change in that amount from the preceding statementrelated Prepayment Period; (viii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the aggregate amount of Realized Losses, if any, for Losses incurred since the related Collection Period; andClosing Date; (ix) the aggregate Purchase Amounts Note Balance of each Class of Notes, after giving effect to the payments made on such Payment Date and the Adjusted Note Balance of each Class of Mezzanine Notes on such Payment Date; (x) the Interest Payment Amount in respect of the Class A Notes and the Mezzanine Notes for Receivablessuch Payment Date and the Class M-1 Liquidation Loss Interest Amount, Class M-2 Liquidation Loss Interest Amount, and any Available Funds Cap Carry- Forward Amount, if any, that were repurchased by with respect to the Servicer or Class A Notes and the Seller Mezzanine Notes on such Payment Date, and in the case of the Class A-4 Notes and the Mezzanine Notes, separately identifying any reduction thereof due to Realized Losses (in the case of the Mezzanine Notes only), prepayments and the Relief Act; (xi) the Overcollateralization Target Amount for such periodPayment Date; (xii) the Overcollateralization Amount, if any, for such Payment Date; (xiii) the respective Note Rates applicable to the Mezzanine Notes for such Payment Date and the Available Funds Cap Carry-Forward Amount for each Class of Mezzanine Notes, if any, for such Payment Date; and (xiv) the amount of such distribution to the Trust Certificates. (b) The Indenture Trustee will make available each month to each Noteholder may conclusively rely upon the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables Electronic File provided by the Servicer from time pursuant to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 4.01 of the Indenture or Section 11.5 Servicing Agreement in its preparation of the Indenture, as appropriateits Statement to Noteholders.

Statements to Noteholders. (a) On or prior to each Distribution Determination Date, the Master Servicer shall deliver, and cause to be delivered via access to its or its Affiliate’s website address, to the Indenture Trustee shall make available and the Administrator (with a copy to the Rating Agencies) with an instruction for the Administrator to forward to each Noteholder of record record, and to each Certificateholder of record, a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (iv) the Class A Interest Carryover Shortfall, if any, and the change in such amount from the preceding statement; (v) the positive excess, if any, of the Aggregate Note Principal Balance over the Pool Balance after giving effect to payments allocated to principal reported under (i) above and the change in such amount from the preceding statement; (vi) the amount of the Servicing Fee paid to the Master Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related Collection Period; and (ixvii) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by Targeted Reserve Account Balance and the Servicer or amount on deposit in the Seller in Reserve Account at the end of such periodDistribution Date. Each amount set forth pursuant to paragraphs (i) and (ii) above shall be expressed as a dollar amount per $1,000 of the initial principal balance of the applicable Class of Notes. (b) The Indenture Trustee will Administrator may, but is not obligated to, make available each month to the parties hereto and to each Noteholder of the statements referred to in Section 5.9(a) above (and certain other documentsNoteholders, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeAdministrator’s internet website, all information referred to in this Section 3.04 available each month and, with the consent or at the direction of the Seller, such other information regarding the Notes and/or the Receivables as the Administrator may have in its possession, but only with the use of a password provided by the Indenture TrusteeAdministrator. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeAdministrator’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as website, if applicable, shall be specified by the Indenture Trustee Administrator from time to time in writing to the parties hereto and the Noteholders. In connection with providing access to the Indenture TrusteeAdministrator’s internet website, the Indenture Trustee Administrator may require registration and the acceptance of a disclaimer. The Indenture Trustee Administrator shall not be liable for the its dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriateSeries Supplement.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx www. .com or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerCorporate Trust Office at ( ) - . The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof12.3, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance and Adjusted Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the Yield Supplement Overcollateralization Amount as of the opening of business on the first day of the preceding Collection Period and as of the close of business on the last day of the preceding Collection Period; (ix) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ixx) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxxx://xxx.XXXXxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.. SECTION 5.10. [Reserved]

Statements to Noteholders. (a) On or prior to each ------------------------- Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to provide each Noteholder of record (with a copy to the Insurer and the Rating Agencies) a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released amount of such distribution payable out of amounts withdrawn from the Reserve Spread Account and included in Available Fundsor pursuant to a claim on the Note Policy; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ ' Interest Carryover Amount, if any, Amount and the change in that amount from the preceding statementNoteholders' Principal Carryover Amount; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and; (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period.; (bx) The Indenture Trustee will make available each month for Distribution Dates during the Funding Period (if any), the remaining Pre-Funded Amount; and (xi) for the final Subsequent Transfer Date, the amount of any remaining Pre-Funded Amount that has not been used to each Noteholder fund the statements referred purchase of Subsequent Receivables and is passed through as principal to in Section 5.9(aNoteholders. Each amount set forth pursuant to paragraph (i), (ii), (iii), (vi) and (vii) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address expressed as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 dollar amount per $1,000 of the Indenture or Section 11.5 initial principal balance of the Indenture, as appropriateNotes (or Class thereof).

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance and [Adjusted] Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount Outstanding Amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) [the Yield Supplement Overcollateralization Amount as of the opening of business on the first day of the preceding Collection Period and as of the close of business on the last day of the preceding Collection Period;] (ix) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; [and (ixx) [for Distribution Dates during the [Revolving Period/Pre-Funding Period], the [Revolving Account Amount/Prefunding Account Amount and the amount remaining in the Capitalized Interest Account, if any] and the aggregate Principal Balance of Subsequent Receivables purchased by the Issuer on such Distribution Date; and] (xi) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx www. .com or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at ( ) - . The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance and Adjusted Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the Yield Supplement Overcollateralization Amount as of the opening of business on the first day of the preceding Collection Period and as of the close of business on the last day of the preceding Collection Period; (ix) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and; (ixx) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period; and (xi) notice of the occurrence of a Benchmark Transition Event and its related Benchmark Replacement Date, the determination of a Benchmark Replacement and the making of any Benchmark Replacement Conforming Changes. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxxx://xxx.XXXXxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Determination Date preceding a Quarterly Distribution Date, pursuant to the Administration Agreement the Administrator shall provide to the Indenture Trustee shall make available (with a copy to the Owner Trustee and the Rating Agencies) for the Indenture Trustee to forward on such succeeding Quarterly Distribution Date to each Noteholder holder of record of the Notes a statement substantially in the form set forth as an exhibit to the Administration Agreement setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i1) the amount of such the distribution allocable to principal of each Class of Notes; (ii2) the amount of such the distribution allocable to interest on or with respect to each Class of Notes, together with the interest rates applicable with respect thereto; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv3) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class , after giving effect to the related payments allocated to principal reported under clause (i1) above; (vi4) the aggregate outstanding principal balance or Notional Amount, as applicable, of each Class of Notes as of such Quarterly Distribution Date, after giving effect to related payments allocated to principal reported under clause (1) above; (5) for each Quarterly Distribution Date (A) the amount of fees and expenses paid to the Indenture Trustee and the Owner Trustee; (B) the amount of the Servicing Fee paid to each Servicer; (C) the Servicer with respect amount of fees and expenses paid to each Broker-Dealer and the Auction Agent; (D) the amount of fees paid to XXXX; and (E) the amount of the Administration Fee paid to the related Collection Period and/or due but unpaid Administrator, and, in each case, with respect to such Collection Period or prior Collection PeriodsPeriod, as together with the case may be; (vii) the Noteholders’ Interest Carryover Amountamount, if any, and the change in that amount from the preceding statementremaining unpaid after giving effect to all such payments; (viii6) for each Quarterly Distribution Date, the amount of the aggregate Realized LossesLosses for the Financed Student Loans, if any, for such Collection Period and the balance of the Financed Student Loans that are delinquent in each delinquency period as of the end of such Collection Period; (7) the balance of the Reserve Account on such Quarterly Distribution Date, after giving effect to changes therein on such Quarterly Distribution Date; (8) the amounts withdrawn from the Reserve Account on such Quarterly Distribution Date; (9) for Quarterly Distribution Dates during the Funding Period, the remaining Pre-Funded Amount on such Quarterly Distribution Date, after giving effect to changes therein during the related Collection Period; (10) for the first Quarterly Distribution Date on or following the end of the Funding Period, the amount of any remaining Pre-Funded Amount that has not been used to make Additional Fundings with respect to Additional Student Loans and is being deposited into the Collection Account; and (ix11) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in amount of any Advance with respect to such period.Distribution Date; (b12) The Indenture Trustee will make available each month the amount transferred to each Noteholder the XXXX Pledge Fund to acquire Rehabilitated Student Loans with respect to such Distribution Date; and Each amount set forth pursuant to clauses (1), (2), (3), (5) and (6) above shall be expressed as a dollar amount per $50,000 of original principal balance of a Note. A copy of the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided may be obtained by the Servicer from time any Note Owner by a written request to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing addressed to the NoteholdersCorporate Trust Office. In connection with providing access On each Determination Date preceding an Auction Rate Note Interest Payment Date, the Administrator shall provide to the Indenture Trustee’s internet website, Trustee (with a copy to the Owner Trustee and the Rating Agencies) for the Indenture Trustee may require registration and to forward to each holder of record of the acceptance applicable Class of Notes a disclaimer. The Indenture Trustee shall not be liable for statement setting forth the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(aclauses (1) and (2) above are distributed in order to make such distribution more convenient and/or more accessible with respect to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriaterelated Auction Rate Notes.

Statements to Noteholders. (a) On or prior to each Determination Date preceding a Distribution Date, pursuant to the Administration Agreement the Administrator shall provide to the Indenture Trustee shall make available (with a copy to the Owner Trustee and the Rating Agencies) for the Indenture Trustee to forward on such succeeding Distribution Date to each Noteholder holder of record of the Notes a statement setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i1) the amount of such the distribution allocable to principal of each Class of Notes; (ii2) the amount of such the distribution allocable to interest on or with respect to each Class of Notes, together with the interest rates applicable with respect thereto; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv3) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class , after giving effect to the related payments allocated to principal reported under clause (i1) above; (vi4) the aggregate outstanding principal balance or Notional Amount, as applicable, of each Class of Notes as of such Distribution Date, after giving effect to related payments allocated to principal reported under clause (1) above; (5) for each Distribution Date (A) the amount of fees and expenses paid to the Indenture Trustee, the Owner Trustee and the Grantor Trustee; (B) the amount of the Servicing Fee and expenses paid to the Servicer with respect Servicers; (C) the amount of fees paid to XXXX; (D) the amount of the Administration Fee and expenses paid to the related Collection Period and/or due but unpaid Administrator, and (E) the amount of the Back-Up Administration Fee and expenses paid to the Back-Up Administrator, and, in each case, with respect to such Collection Period or prior Collection PeriodsPeriod, as together with the case may be; (vii) the Noteholders’ Interest Carryover Amountamount, if any, and the change in that amount from the preceding statementremaining unpaid after giving effect to all such payments; (viii6) for each Distribution Date, the amount of the aggregate Realized LossesLosses for the Financed Student Loans, if any, for such Collection Period and the related balance of the Financed Student Loans that are delinquent in each delinquency period as of the end of such Collection Period; (7) the balance of the Reserve Account on such Distribution Date, after giving effect to changes therein on such Distribution Date; (8) the amounts withdrawn from the Reserve Account on such Distribution Date; and (ix9) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in amount of any Advance with respect to such period.Distribution Date; (b10) The Indenture Trustee will make available each month the amount transferred to each Noteholder the XXXX Pledge Fund to acquire Rehabilitated Student Loans with respect to such Distribution Date. Each amount set forth pursuant to clauses (1), (2), (3), (5) and (6) above shall be expressed as a dollar amount per $50,000 of Original Principal Balance of a Note. A copy of the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided may be obtained by the Servicer from time any Note Owner by a written request to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing addressed to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriateCorporate Trust Office.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance and Adjusted Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount Outstanding Amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the Yield Supplement Overcollateralization Amount as of the opening of business on the first day of the preceding Collection Period and as of the close of business on the last day of the preceding Collection Period; (ix) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ixx) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.. SECTION 5.10. [Reserved]

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to provide each Noteholder of record (with a copy to the Insurer and the Rating Agencies) a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released amount of such distribution payable out of amounts withdrawn from the Reserve Spread Account and included in Available Fundsor pursuant to a claim on the Note Policy; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, Amount and the change in that amount from the preceding statementNoteholders’ Principal Carryover Amount; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and; (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period; (x) for Distribution Dates during the Funding Period, the remaining Pre-Funded Amount, if any; (xi) the aggregate Sale Amounts for Sold Receivables, if any, that were sold by the Issuer in such period; and (xii) for the final Subsequent Transfer Date, the amount of any remaining Pre-Funded Amount that has not been used to fund the purchase of Subsequent Receivables and will be passed through as principal to Noteholders. Each amount set forth pursuant to paragraph (i), (ii), (iii), (vi) and (vii) above shall be expressed as a dollar amount per $1,000 of the initial principal balance of the Notes (or Class thereof). (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a5.10(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, website with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx wxx.XXXXxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerCorporate Trust Office at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a5.10(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholdersstatements. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior With respect to each Distribution Payment Date, the Indenture Trustee shall make available via the Indenture Trustee’s website hxxxx://xxx.xxx.xx.xxx/xxxx or deliver at the recipient’s option to each Noteholder of record and each Certificateholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of the payment made on such distribution allocable Payment Date to principal the Holders of the Notes of each Class of Notesallocable to principal; (ii) the amount of the payment made on such distribution Payment Date to the Holders of the Notes of each Class allocable to interest on or with respect to each Class of Notesinterest; (iii) the required Reserve Account Withdrawal Amount aggregate Servicing Fee received by the Master Servicer during the related Due Period and such other customary information as the Indenture Trustee deems necessary or any excess released from the Reserve Account and included in Available Fundsdesirable, or which a Noteholder reasonably requests, to enable Noteholders to prepare their tax returns; (iv) the Pool aggregate amount of P&I Advances for such Payment Date; (v) the aggregate Stated Principal Balance of the Mortgage Loans and any REO Properties as of the close of business on such Payment Date by Loan Group and in the aggregate ; (vi) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Due Date by Loan Group and in the aggregate; (vii) the number and aggregate unpaid principal balance of Mortgage Loans by Loan Group and in the aggregate (a) delinquent 30 to 59 days, (b) delinquent 60 to 89 days, (c) delinquent 90 or more days, in each case, as of the last day of the preceding calendar month, (d) as to which foreclosure proceedings have been commenced and (e) with respect to which the related Mortgagor has filed for protection under applicable bankruptcy laws, with respect to whom bankruptcy proceedings are pending or with respect to whom bankruptcy protection is in force; (viii) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and the Stated Principal Balance of such Mortgage Loan as of the date it became an REO Property; (ix) the book value of any REO Property as of the close of business on the last day Business Day of the calendar month preceding Collection the Payment Date; (x) the aggregate amount of Principal Prepayments made during the related Prepayment Period; (vxi) the aggregate outstanding principal amount of Realized Losses incurred during the related Prepayment Period by Loan Group and in the aggregate (or, in the case of Bankruptcy Losses allocable to interest, during the related Due Period), separately identifying whether such Realized Losses constituted Bankruptcy Losses and the aggregate amount of Realized Losses incurred since the Closing Date and the aggregate amount of Subsequent Recoveries received during the Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date; (xii) the aggregate Note Balance of each Class of the Notes and the Note Pool Factor for each such Class Notes, after giving effect to payments allocated to principal reported under (i) abovethe payments, and allocations of Realized Losses, made on such Payment Date; (vixiii) the amount Interest Payment Amount in respect of the Servicing Fee paid to Class A Notes and the Servicer with respect to Mezzanine Notes for such Payment Date and the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Carry Forward Amount, if any, with respect to the Class A Notes and the change in that amount from the preceding statementMezzanine Notes on such Payment Date; (viiixiv) the aggregate amount of any Prepayment Interest Shortfall for such Payment Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.24 of the Servicing Agreement; (xv) the aggregate Realized Lossesamount of Relief Act Interest Shortfalls for such Payment Date; (xvi) the Overcollateralization Target Amount and the Credit Enhancement Percentage for such Distribution Date; (xvii) the Overcollateralization Increase Amount, if any, for such Payment Date; (xviii) the related Collection PeriodOvercollateralization Reduction Amount, if any, for such Payment Date; (xix) the respective Note Rates applicable to the Class A Notes and the Mezzanine Notes for such Payment Date and the Note Rate applicable to the Class A Notes and the Mezzanine Notes for the immediately succeeding Payment Date; (xx) the Basis Risk Shortfall for the Class A Notes and the Mezzanine Notes, if any, for such Payment Date and the amount remaining unpaid after reimbursements therefor on such Payment Date; (xxi) the amount of such distribution to the Certificates; (xxii) whether a Trigger Event or a Sequential Trigger Event is in effect and the calculation thereof; (xxiii) the amount due and the amount received under the Cap Contracts, if any; and (ixxxiv) the aggregate Purchase Amounts for Receivables, if any, that were repurchased amount of Prepayment Charges collected or paid by the Servicer or Master Servicer. Items (i) and (ii) above shall be presented on the Seller basis of a Note having a $1,000 denomination. In addition, by January 31st of each calendar year following any year during which the Notes are outstanding, the Indenture Trustee shall furnish a report to each Noteholder of record if so requested in writing at any time during each calendar year as to the aggregate of amounts reported pursuant to (i) and (ii) with respect to the Notes for such periodcalendar year. (b) The Indenture Trustee will make available each month to each Noteholder may conclusively rely upon the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables Remittance Report provided by the Master Servicer from time pursuant to time) via Section 4.01 of the Indenture Trustee’s internet website, with Servicing Agreement and on the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as amounts furnished to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing pursuant to the Cap Contracts in its preparation of its Statement to Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx www. .com or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof12.3, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior With respect to each Distribution Payment Date, the Indenture Trustee shall make available via the Indenture Trustee's website xxxxx://xxx.[________] or deliver at the recipient's option to each Noteholder of record and each Certificateholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of the payment made on such distribution allocable Payment Date to principal the Holders of the Notes of each Class of Notesallocable to principal; (ii) the amount of the payment made on such distribution Payment Date to the Holders of the Notes of each Class allocable to interest on or with respect to each Class of Notesinterest; (iii) the required Reserve Account Withdrawal Amount aggregate Servicing Fee received by the Master Servicer during the related Due Period and such other customary information as the Indenture Trustee deems necessary or any excess released from the Reserve Account and included in Available Fundsdesirable, or which a Noteholder reasonably requests, to enable Noteholders to prepare their tax returns; (iv) the Pool aggregate amount of P&I Advances for such Payment Date (including the general purpose of such Advances); (v) the aggregate Stated Principal Balance of the Mortgage Loans and any REO Properties as of the close of business on such Payment Date by Loan Group and in the aggregate ; (vi) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Due Date by Loan Group and in the aggregate; (vii) the number and aggregate unpaid principal balance of Mortgage Loans in respect of which (1) one Monthly Payment is Delinquent, (2) two Monthly Payments are Delinquent, (3) three Monthly Payments are Delinquent and (4) foreclosure proceedings have begun; (viii) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid principal balance and the Stated Principal Balance of such Mortgage Loan as of the date it became an REO Property; (ix) the book value of any REO Property as of the close of business on the last day Business Day of the calendar month preceding Collection the Payment Date; (x) the aggregate amount of Principal Prepayments made during the related Prepayment Period; (vxi) the aggregate outstanding principal amount of Realized Losses incurred during the related Prepayment Period by Loan Group and in the aggregate (or, in the case of Bankruptcy Losses allocable to interest, during the related Due Period), separately identifying whether such Realized Losses constituted Bankruptcy Losses and the aggregate amount of Realized Losses incurred since the Closing Date and the aggregate amount of Subsequent Recoveries received during the Prepayment Period and the cumulative amount of Subsequent Recoveries received since the Closing Date; (xii) the aggregate Note Balance of each Class of the Notes and the Note Pool Factor for each such Class Notes, after giving effect to payments allocated to principal reported under (i) abovethe payments, and allocations of Realized Losses, made on such Payment Date; (vixiii) the amount Interest Payment Amount in respect of the Servicing Fee paid to Class A Notes and the Servicer with respect to Mezzanine Notes for such Payment Date and the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Carry Forward Amount, if any, with respect to the Class A Notes and the change in that amount from the preceding statementMezzanine Notes on such Payment Date; (viiixiv) the aggregate amount of any Prepayment Interest Shortfall for such Payment Date, to the extent not covered by payments by the Master Servicer pursuant to Section 3.24 of the Servicing Agreement; (xv) the aggregate Realized Lossesamount of Relief Act Interest Shortfalls for such Payment Date; (xvi) the Net Monthly Excess Cashflow, if any, for such Distribution Date; (xvii) the related Collection PeriodOvercollateralization Target Amount and the Credit Enhancement Percentage for such Distribution Date; (xviii) the Overcollateralization Increase Amount, if any, for such Payment Date; (xix) the Overcollateralization Reduction Amount, if any, for such Payment Date; (xx) the respective Note Rates applicable to the Class A Notes and the Mezzanine Notes for such Payment Date (and whether such Note Rate was limited by the Net WAC Rate) and the Note Rate applicable to the Class A Notes and the Mezzanine Notes for the immediately succeeding Distribution Date; (xxi) the Basis Risk Shortfall for the Class A Notes and the Mezzanine Notes, if any, for such Payment Date and the amount remaining unpaid after reimbursements therefor on such Payment Date; (xxii) the amount of such distribution to the Certificates; (xxiii) whether a Trigger Event is in effect and the calculation thereof; (xxiv) the amount due and the amount received under the Cap Contracts, if any; (xxv) the amount of Prepayment Charges collected or paid by the Master Servicer; (xxvi) if the Stepdown Date is in effect (and if not, the months remaining until the Stepdown Date); (xxvii) [(a) the Delinquency Percentage, the numerator and the denominator used to calculate the Delinquency Percentage and whether the Delinquency Percentage exceeds the level set forth in clause (a) of the definition of Trigger Event, (b) the Cumulative Realized Loss Percentage, the numerator and the denominator used to calculate the Cumulative Realized Loss Percentage and whether the Cumultaive Realized Loss Percentage exceeds the level set forth in clause (b) of the definition of Trigger Event]; (xxviii) the total cashflows received and the general sources thereof; (xxix) the amount on deposit Net WAC Rate Carryover Reserve Account; (xxx) if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time; (xxxi) the applicable Record Dates, Accrual Periods and Determination Dates for calculating distributions for such Distribution Date; (xxxii) the fees and expenses accrued and paid on such Distribution Date and to whom such fees and expenses were paid; and (ixxxxiii) material breaches of representations and warranties regarding the Mortgage Loans. Items (i) and (ii) above shall be presented on the basis of a Note having a $1,000 denomination. In addition, by January 31st of each calendar year following any year during which the Notes are outstanding, the Indenture Trustee shall furnish a report to each Noteholder of record if so requested in writing at any time during each calendar year as to the aggregate Purchase Amounts of amounts reported pursuant to (i) and (ii) with respect to the Notes for Receivables, if any, that were repurchased by the Servicer or the Seller in such periodcalendar year. (b) The Indenture Trustee will make available each month to each Noteholder may conclusively rely upon the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables Remittance Report provided by the Master Servicer from time pursuant to time) via Section 4.01 of the Indenture Trustee’s internet website, with Servicing Agreement and on the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as amounts furnished to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing pursuant to the Cap Contracts in its preparation of its Statement to Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to provide each Noteholder of record (with a copy to the Rating Agencies) a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the amount of such distribution payable out of amounts pursuant to a draw under the Guaranty; (v) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (vvi) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vivii) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (viiviii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viiiix) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and; (ixx) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period; and (xi) the aggregate Sale Amounts for Sold Receivables, if any, that were sold by the Issuer in such period. Each amount set forth pursuant to paragraph (i), (ii), (vi) and (viii) above shall be expressed as a dollar amount per $1,000 of the initial principal balance of the Notes (or Class thereof). (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.XXXXxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerCorporate Trust Office at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholdersstatements. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior Subject to Section 3.26 of this Indenture, with respect to each Distribution Payment Date, the Indenture Trustee shall make available deliver to each Noteholder of record Certificateholder and Noteholder, the Note Insurer, the Company, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the aggregate amount of collections with respect to the Mortgage Loans with respect to such distribution allocable to principal of each Class of NotesPayment Date; (ii) the amount of Interest Payment Amount, Principal Payment Amount and Subordination Increase Amount payable to the Noteholders for such distribution allocable to interest on or with respect to each Class of NotesPayment Date, the Guaranteed Interest Payment Amount and the Carry-Forward Amount for such Payment Date and the aggregate unpaid Carry-Forward Amount for all prior Payment Dates; (iii) the required Reserve Account Withdrawal Amount or any excess released from amount of the Reserve Account and included in Available Fundsaggregate distribution to the Noteholders for such Payment Date; (iv) the Pool Balance as of Scheduled Payments, if any, paid by the close of business on Note Insurer under the last day of Note Insurance Policy for such Payment Date and the preceding Collection Periodaggregate Scheduled Payments for all prior Payment Dates paid by the Note Insurer under the Note Insurance Policy and not yet reimbursed; (v) the aggregate outstanding principal amount of each Class Principal Balance of the Notes and Mortgage Loans as of the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) aboveend of the preceding Due Period; (vi) the amount number and aggregate Principal Balances of Mortgage Loans (a) as to which the Monthly Payment is delinquent for 30-59 days, 60-89 days and 90 or more days (excluding any Mortgage Loans in foreclosure or that have become REO Property), respectively, (b) in foreclosure and (c) that have become REO Property, in each case as of the Servicing Fee paid end of the preceding Due Period; provided, however, that such information will not be provided on the statements relating to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may befirst Payment Date; (vii) the Noteholders’ Interest Carryover Amount, if any, and Weighted Average Net Mortgage Rate for the change in that amount from the preceding statementrelated Payment Date; (viii) the amount of the aggregate Realized LossesRequired Subordination Amount, if anySubordination Amount, Net Monthly Excess Cashflow and Subordination Reduction Amount for the related Collection Period; andsuch Payment Date; (ix) the aggregate Purchase Amounts amount of any Advances and Compensating Interest for Receivables, if any, that were repurchased by the Servicer or the Seller in such period.Payment Date; (bx) The the aggregate Realized Losses with respect to the related Payment Date and cumulative Realized Losses since the Closing Date; (xi) the amount of any unpaid accrued interest on the Notes after such Payment Date; (xii) the aggregate Note Principal Balance of the Notes after giving effect to the distribution of principal on such Payment Date; (xiii) the Maximum Note Interest Rate, Guaranteed Interest Payment Amount and Note Interest Rate for such Payment Date; (xiv) the number and aggregate Principal Balance of first lien Mortgage Loans and the number and aggregate Principal Balance of second lien Mortgage Loans repurchased pursuant to the Home Equity Loan Purchase Agreement for the related Payment Date and cumulatively since the Closing Date; (xv) the Cumulative Loss Percentage, Delinquency Percentage, Delinquency Amount and Rolling Delinquency Percentage for such Payment Date; (xvi) the amount of any Prepayment Interest Shortfalls or Relief Act Shortfalls for such Payment Date; and (xvii) the aggregate Principal Balance of Mortgage Loans purchased pursuant to Section 3.18 of the Servicing Agreement for the related Payment Date and cumulatively since the Closing Date. Items (iii) and (xii) above shall be presented on the basis of a Note having a $1,000 denomination. In addition, by January 31 of each calendar year following any year during which the Notes are outstanding, the Indenture Trustee will make available each month shall furnish a report to each Noteholder of record if so requested in writing at any time during each calendar year as to the statements referred aggregate of amounts reported pursuant to in Section 5.9(a(iii) above and (and certain other documents, reports and information regarding xii) with respect to the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture TrusteeNotes for such calendar year. The Indenture Trustee will make no representation or warranties as to in the accuracy or completeness absence of such documents, reports and information regarding manifest error may conclusively rely upon the Receivables Determination Date Report provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by Master Servicer pursuant to Section 4.01 of the Indenture Trustee from time to time Servicing Agreement in writing its preparation of its Statement to the Noteholders. In connection with providing access Noteholders pursuant to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate7.05.

Statements to Noteholders. (a) On or prior to each Determination Date preceding a Distribution Date, pursuant to the Administration Agreement the Administrator shall provide to the Indenture Trustee shall make available (with a copy to the Owner Trustee and the Rating Agencies) for the Indenture Trustee to forward on such succeeding Distribution Date to each Noteholder holder of record of the Notes a statement setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i1) the amount of such the distribution allocable to principal of each Class of Notes; (ii2) the amount of such the distribution allocable to interest on or each Class of Notes (including, with respect to each the Class of B Notes and the Class C Notes, the portion allocable to Noteholders’ Interest Carryover Shortfall), together with the interest rates applicable with respect thereto; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv3) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class , after giving effect to the related payments allocated to principal reported under clause (i1) above; (vi4) the aggregate outstanding principal balance of each Class of Notes as of such Distribution Date, after giving effect to related payments allocated to principal reported under clause (1) above; (5) for each Distribution Date (A) the amount of fees and expenses paid to the Indenture Trustee and the Owner Trustee; (B) the amount of the Servicing Fee and expenses paid to the Servicer with respect Servicers; (C) the amount of fees paid to XXXX; (D) the amount of the Administration Fee and expenses paid to the related Collection Period and/or due but unpaid Administrator and (E) the amount of the Back-Up Administration Fee and expenses paid to the Back-Up Administrator, and, in each case, with respect to such Collection Period or prior Collection PeriodsPeriod, as together with the case may be; (vii) the Noteholders’ Interest Carryover Amountamount, if any, and the change in that amount from the preceding statementremaining unpaid after giving effect to all such payments; (viii6) for each Distribution Date, the amount of the aggregate Realized LossesLosses for the Financed Student Loans, if any, for such Collection Period and the related balance of the Financed Student Loans that are delinquent in each delinquency period as of the end of such Collection Period; and; (ix7) the aggregate Purchase Amounts for Receivablesbalance of the Reserve Account on such Distribution Date, if any, that were repurchased by the Servicer or the Seller in after giving effect to changes therein on such period.Distribution Date; (b) The Indenture Trustee will make available each month to each Noteholder 8) the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding amounts withdrawn from the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of Reserve Account on such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.Distribution Date;

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to provide each Noteholder of record (with a copy to the Insurer and the Rating Agencies) a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released amount of such distribution payable out of amounts withdrawn from the Reserve Spread Account and included in Available Fundsthe amount, if any, expected to be paid under the Note Policy on the related Insured Distribution Date; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount those amounts from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and; (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period; and (x) the aggregate Sale Amounts for Sold Receivables, if any, that were sold by the Issuer in such period. Each amount set forth pursuant to paragraph (i), (ii), (iii) and (vii) above shall be expressed as a dollar amount per $1,000 of the initial principal balance of the Notes (or Class thereof). (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a5.10(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, website with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.XXXXxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerCorporate Trust Office at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a5.10(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholdersstatements. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance and Adjusted Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount Outstanding Amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the Yield Supplement Overcollateralization Amount as of the opening of business on the first day of the preceding Collection Period and as of the close of business on the last day of the preceding Collection Period; (ix) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ixx) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.xx.xxxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerwebsite assistance line at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.. SECTION 5.10. [Reserved] [Reserved]

Statements to Noteholders. (a) On or prior to the close of business on each Distribution Payment Determination Date, the Issuer shall cause the Manager to provide to the Indenture Trustee shall make available for the Indenture Trustee to (x) post on its internet website pursuant to Section 6.6 of the Indenture or (y) provide to each Noteholder of record Hedge Counterparty who does not then have access to such website pursuant to Section 6.6 hereof, a statement substantially in the form of Exhibit D hereto, setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (ia) the amount of such distribution allocable to principal of each Class of Notes; (ii) Collections and Asset Disposition Proceeds, if any, received in the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Collection Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid Period; (b) confirmation of compliance with the terms of the Indenture and the other Basic Documents; (c) other reports received or prepared by the Manager in respect of the Oil and Gas Portfolio and the Hedge Agreements, along with a summary of all Hedge Agreements in place, including volumes and percentage of production that is hedged, along with a calculation of the hedge ratio; (d) the amount of Administrative Expenses, Direct Expenses and indemnity payments paid to each party or withheld by the Operator pursuant to the Joint Operating Agreement or the Manager pursuant to the Management Services Agreement during the most recent Collection Period; (e) the amount of any fees and expenses paid to the Indenture Trustee, the Manager or the Back-up Manager with respect to the related Collection Period; (f) if any, the amount of any payment (including breakage or termination payments) paid to the Hedge Counterparties with respect to the related Collection Period; (g) the amount deposited in or withdrawn from the Liquidity Reserve Account on such Payment Determination Date, the amount on deposit in the Liquidity Reserve Account after giving effect to such deposit or withdrawal and the Liquidity Reserve Account Target Amount for such Payment Date; (h) the amount deposited in or withdrawn from the P&A Reserve Account on such Payment Determination Date, the amount on deposit in the P&A Reserve Account after giving effect to such deposit or withdrawal and the P&A Reserve Account Target Amount for such Payment Date; (i) the Outstanding Principal Amount, the Principal Distribution Amount and the Excess Amortization Amount (if any), with respect to such Collection Period or prior Collection Periods, as the case may bePayment Determination Date; (viij) the Noteholders’ Interest Carryover AmountNote Interest, if anyincluding any Subsequent Rate of Interest, and the change in that amount from the preceding statementwith respect to such Payment Date; (viiik) as of the Notification Date, confirmation as to whether a Subsequent Rate of Interest shall go into effect with, if applicable, a copy of the Satisfaction Notification; (l) the Excess Allocation Percentage (if any) with respect to such Payment Date; (m) the amount of the DSCR, the IO DSCR, the LTV, the Production Tracking Rate and the Securitized Net Cash Flow, in each case with respect to the related Collection Period (n) the amounts on deposit in each Issuer Account as of the related Payment Determination Date; (o) amounts due and owing and paid to the Noteholders under the Note Purchase Agreement and other Basic Documents; (p) identification of any Assets repurchased by Diversified by Well number with respect to such Asset (as specified in the Schedule of Assets), to the extent applicable; (q) listing of all Permitted Indebtedness outstanding as of such date; (r) the amount of any Excess Funds and AFE Cover Amounts utilized to participate in AFE Operations during the related Collection Period; (s) a listing of any Additional Assets acquired by the Issuer or the Guarantor; (t) any reports regarding greenhouse gas or other carbon emissions associated with any Issuer Party’s operations or the products, to the extent publicly disclosed by the Issuer or any of its Affiliates; (u) the amount of Asset Disposition Proceeds deposited in the Asset Disposition Proceeds Account; (v) on an annual basis, on the Payment Determination Date occurring in March such report shall include the aggregate Realized LossesP&A Expense Amount for the preceding year and the excess, if any, for of the related Collection PeriodP&A Expense Amount in excess of the P&A Reserve Trigger Amount; (w) on an annual basis such report shall include any change, set forth to the fourth decimal place, in the Net Revenue Interest or Working Interest with respect to any Well from the Net Revenue Interest or Working Interest reflected in the most recent Reserve Report, except to the extent already expressly identified in a report under this Section 8.8; (x) reasonably detailed information regarding any Title Failure (as defined in the Separation Agreement) of which any Issuer Party has Knowledge and all documentation with respect to any actions, claims or Proceedings under the Separation Agreement; (y) any material Environmental Liability of which Issuer, Operator, Manager or any Affiliate thereof obtained Knowledge since the most recent report delivered under this Section 8.8; (z) the filing or commencement of, or the threat in writing of, any action, suit, investigation, arbitration or proceeding by or before any arbitrator or Governmental Body against Issuer, or any material adverse development in any action, suit, proceeding, investigation or arbitration (whether or not previously disclosed), that, in either case, if adversely determined, could reasonably be expected to result in liability in excess of $250,000; (aa) a reasonably detailed description of any Permitted Dispositions; and (ixbb) on the aggregate Purchase Amounts for Receivablesfirst Payment Determination Date where either Sustainability Performance Target has been met, if anya statement to that effect, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, together with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 copies of the confirmation from the External Verifier. Deliveries pursuant to this Section 8.8 or any other Section of this Indenture or Section 11.5 of the Indenture, as appropriatemay be delivered by electronic mail.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to provide each Noteholder of record a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.XXXXxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerCorporate Trust Office at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate. ARTICLE VI [Reserved]

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerCorporate Trust Office at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate. ARTICLE VI [Reserved]

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance and Adjusted Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the Yield Supplement Overcollateralization Amount as of the opening of business on the first day of the preceding Collection Period and as of the close of business on the last day of the preceding Collection Period; (ix) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and; (ixx) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period; and (xi) notice of the occurrence of a Benchmark Transition Event and its related Benchmark Replacement Date, the determination of a Benchmark Replacement and the making of any Benchmark Replacement Conforming Changes. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx hxxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to provide each Noteholder of record (with a statement setting forth at least copy to the Insurer and the Rating Agencies) a copy of the Servicer’s Certificate which shall contain the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released amount of such distribution payable out of amounts withdrawn from the Reserve Spread Account and included in Available Fundsor pursuant to a claim on the Note Policy; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and; (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period; and (x) the aggregate Sale Amounts for Sold Receivables, if any, that were sold by the Trust in such period. Each amount set forth pursuant to paragraph (i), (ii), (iii), (vi) and (vii) above shall be expressed as a dollar amount per $1,000 of the initial principal balance of the Notes (or Class thereof). (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a5.10(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, website with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.xxx.xx.xxx/xxxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerCorporate Trust Office at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a5.10(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholdersstatements. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx http://sf.citidirect.com or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount Outstanding Amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Xxxxxxxxx Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimertechnical assistance center at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.. SECTION 5.10. [Reserved]

Statements to Noteholders. (a) On Not later than 12:00 noon, New York time, on each Monthly Remittance Date, the Servicer shall deliver to the Indenture Trustee, the Depositor and the Underwriter a computer tape (or prior such other report in a form and format mutually agreeable to each the Servicer and the Indenture Trustee) (the "Servicing Certificate") containing the information set forth in Exhibit [__] hereto with respect to the Home Equity Loans on an aggregate basis as of the end of the preceding Remittance Period and such other information as the Indenture Trustee shall reasonably require. Not later than 12:00 noon, New York time, on the Business Day preceding the Distribution Date, the Indenture Trustee shall make available deliver to each Noteholder of record the Depositor, the Servicer, the Transferor and to the Insurer, by telecopy, with a hard copy thereof to be delivered on such Distribution Date, a statement setting (the "Indenture Trustee's Statement to Noteholders") (based solely on the information contained on the computer tape provided by the Servicer) containing the information set forth at least the following information as below with respect to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofDistribution Date: (i) The Available Funds for each Group and the amount of such distribution allocable to principal of Note Rate for each Class of NotesNotes for the related Distribution Date; (ii) the amount of such distribution allocable to interest on or with respect to The Note Principal Balance for each Class of Notes, the Pool Principal Balance and the Group Principal Balance for each Group, each as reported in the prior Indenture Trustee's Statement to Noteholders, or, in the case of the first Monthly Remittance Date, the Original Note Principal Balance for each Class of Notes, the Cut-Off Date Pool Principal Balance and the Group Cut-Off Date Principal Balance for each Group; (iii) The aggregate amount of collections received on the required Reserve Account Withdrawal Amount Home Equity Loans on or any excess released from prior to such Distribution Date in respect of the Reserve Account preceding Remittance Period, separately stating the amounts received in respect of principal and included in Available Fundsinterest for each Group; (iv) The number and Principal Balances of all Home Equity Loans in each Group that were the Pool Balance as subject of principal prepayments during the close of business on the last day of the preceding Collection related Remittance Period; (v) the aggregate outstanding principal The amount of all Curtailments that were received during the Remittance Period in respect of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) aboveGroup; (vi) The principal portion of all Monthly Payments received during the amount Remittance Period in respect of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may beeach Group; (vii) The interest portion of all Monthly Payments received during the Noteholders’ Interest Carryover Amount, if any, and the change Remittance Period in that amount from the preceding statementrespect of each Group; (viii) The amount required to be paid by the Seller (reported separately) in respect of each Group pursuant to Sections 2.04, 2.06 and 2.07; (ix) The amount of the aggregate Realized LossesDelinquency Advances, Servicing Advances and the Compensating Interest paid with respect to such Distribution Date in respect of each Group; (x) The Principal Distribution to be distributed on each Class of Notes and the Interest Distribution to be distributed on each Class of Notes on the related Distribution Date; (xi) The amount, if any, of the Outstanding Interest Carryover Shortfall for each Class of Notes after giving effect to the distributions on the related Distribution Date; (xii) The amount of the Insured Payments in respect of each Group, if any, to be made on the related Distribution Date; (xiii) The amount to be distributed to the Transferor in respect of the Transferor Interest for the related Collection Distribution Date pursuant to Section 5.01(a)(xii); (xiv) The Note Principal Balance of each Class of Notes after giving effect to the distribution to be made on the related Distribution Date; (xv) The weighted average remaining term to maturity and the weighted average Coupon Rate of the Home Equity Loans in each Group; (xvi) With respect to each Group, the amounts to be paid to the Insurer, separately stated, pursuant to Sections 5.01(a)(iv) and 5.01(a)(vi); (xvii) The Premium Amount in respect of each Group to be paid to the Insurer pursuant to Section 5.01; (xviii) The amount of all payments or reimbursements to the Servicer pursuant to Section 3.03 in respect of each Group; (xix) With respect to each Group, the related O/C Amount, O/C Reduction Amount, Excess O/C Amount and Specified O/C Amount for the Distribution Date and the related Excess Spread for such Distribution Date; (xx) The amount of Distributable Excess Spread to be distributed to the Holders of each Class of Notes on such Distribution Date pursuant to Section 5.01(a)(v) on such Distribution Date; (xxi) The number of Home Equity Loans in each Group outstanding at the beginning and at the end of the related Remittance Period; (xxii) The Pool Principal Balance and Group Principal Balance of each Group as of the end of the Remittance Period related to such Distribution Date; (xxiii) The number and aggregate Principal Balances of Home Equity Loans in each Group (w) as to which the Monthly Payment is delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (x) that have become REO Properties, in each case as of the end of the preceding Remittance Period, (y) that are in foreclosure and (z) the Mortgagor of which is the subject of any bankruptcy or insolvency proceeding; (xxiv) The unpaid principal amount of all Home Equity Loans in each Group that became Liquidated Loans during such Remittance Period; (xxv) The Net Liquidation Proceeds received during such Remittance Period for each Group; (xxvi) The cumulative losses on the Home Equity Loans in each Group; (xxvii) The book value of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure; (xxviii) [Reserved]; (xxix) [Reserved]; (xxx) The Delinquency Percentage for each Group in respect of such Distribution Date; and (ixxxxi) The amount of any Cross-Collateralization Payment, Cross-Collateralization Reserve Deposit, Cross-Collateralization Reserve Release Amount and the aggregate Purchase Amounts amount on deposit in the Cross-Collateralization Reserve Account for Receivableseach Group on such Distribution Date. In the case of information furnished pursuant to clauses (ii), if any(x) and (xiv) above, that were repurchased the amounts shall be expressed, in a separate section of the report, as a dollar amount for each Note for each $1,000 original dollar amount as of the Cut-Off Date. In addition, the Indenture Trustee shall forward the Indenture Trustee's Statement to Noteholders to each Noteholder, the Rating Agencies, Bloomberg (at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, Attention: Xxxx Xxxxxx) and Intex Solutions (at 00 Xxxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxxxxxxx 00000, Attention: Xxxxxx Xxxxxxxx) on the related Distribution Date. The Indenture Trustee may fully and conclusively rely upon and shall have no liability with respect to information provided by the Servicer. To the extent that there are inconsistencies between the telecopy of the Indenture Trustee's Statement to Noteholders and the hard copy thereof, the Servicer or may rely upon the Seller in such periodlatter. (b) The Indenture Trustee will make available each month shall prepare or cause to each Noteholder the statements referred to be prepared (in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, a manner consistent with the use treatment of a password provided the Notes as indebtedness of the Trust, or as may be otherwise required by the Indenture Trustee. The Indenture Trustee will make no representation Section 3.21 herein) Internal Revenue Service Form 1099 (or warranties as any successor form) and any other tax forms required to the accuracy be filed or completeness furnished to Noteholders in respect of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified distributions by the Indenture Trustee from time (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law. (c) The Servicer and the Indenture Trustee shall furnish to time each Noteholder and to the Insurer (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Noteholder or the Insurer, as the case may be, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Noteholder or the Insurer, as the case may be, may reasonably require; provided that the Servicer and the Indenture Trustee shall be entitled to be reimbursed by such Noteholder or the Insurer, as the case may be, for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable. (d) Reports and computer tapes furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent provided in this Agreement and to the extent required by law or to the Rating Agencies, the Depositor, the Insurer's reinsurers, parent, regulators, liquidity providers and auditors and to the extent the Seller instructs the Indenture Trustee in writing to furnish information regarding the NoteholdersTrust or the Home Equity Loans to third-party information providers. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties No Person entitled to receive copies of such statements so long as such statements are only provided to reports or tapes or lists of Noteholders shall use the then current Noteholders. The Indenture Trustee shall provide notification information therein for the purpose of any such change to all parties entitled to receive such statements in soliciting the manner described in Section 12.3 hereof, Section 11.4 customers of the Indenture Seller or Section 11.5 of the Indenture, for any other purpose except as appropriateset forth in this Agreement.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to provide each Noteholder of record a statement setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.XXXXxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerCorporate Trust Office at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.. [Reserved]

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee shall make available include with each distribution to each Noteholder of record a Noteholder, the Servicer's Certificate (which statement shall also have been provided to the Security Insurer and to each Rating Agency by the Servicer) delivered on the related Determination Date pursuant to Section 3.9, setting forth at least for the Monthly Period relating to such Payment Date the following information as with respect to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofeach class of Notes: (i) the amount of such distribution allocable to principal of each Class of Notesprincipal; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notesinterest; (iii) the required Reserve Account Withdrawal Amount or any excess released amount of such distribution payable out of amounts withdrawn from the Reserve Account, the Class A-1 Holdback Subaccount, the Spread Account and included in Available Fundsor pursuant to a claim on the Note Policy; (iv) the Pool Balance as outstanding principal balance of the close of business Notes (after giving effect to distributions made on the last day of the preceding Collection Periodsuch Distribution Date); (v) the aggregate outstanding principal amount of each Class of A-1 Interest Carryover Shortfall, the Notes Class A-2 Interest Carryover Shortfall, the Class A-3 Interest Carryover Shortfall, the Class A-4 Interest Carryover Shortfall, the Class A-5 Interest Carryover Shortfall, and the Note Pool Factor for each Noteholders' Principal Carryover Shortfall, if any, and the change in such Class after giving effect to payments allocated to principal reported under (i) aboveamounts from the preceding statement; (vi) the amount of fees paid by the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid Trust with respect to such Collection Period or prior Collection Periods, as the case may beMonthly Period; (vii) for Payment Dates during the Noteholders’ Interest Carryover Funding Period, the remaining Pre-Funded Amount, the remaining Reserve Amount and the amount on deposit in the Class A-1 Holdback Subaccount; (viii) for the Payment Date on or immediately following the end of the Funding Period, the Class A-1 Prepayment Amount, the Class A-2 Prepayment Amount, the Class A-3 Prepayment Amount, the Class A-4 Prepayment Amount, the Class A-5 Prepayment Amount, the Class A-1 Prepayment Premium, the Class A-2 Prepayment Premium, the Class A-3 Prepayment Premium, the Class A-4 Prepayment Premium and the Class A-5 Prepayment Premium, if any, and the change in remaining Reserve Amount that amount from has not been distributed pursuant to Section 4.6 or to the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related Collection PeriodDepositor; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in Note Pool Factor with respect to each class of Notes (after giving effect to distributions made on such periodPayment Date). Each amount set forth pursuant to subclauses (i) through (iv) above may be expressed as a dollar amount per $1,000 of original principal balance of a Note. (b) The Indenture Trustee will make available each month to each Noteholder Note Owners may obtain copies of the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified delivered by the Indenture Trustee from time pursuant to time in writing to the Noteholders. In connection with providing access subsection (b) above upon written request to the Indenture Trustee’s internet website, the Indenture Trustee may require registration at its Corporate Trust Office (together with a certification that such Person is a Note Owner and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification payment of any such change to all parties entitled to receive such statements in expenses associated with the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriatedistribution thereof).

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof4.9: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount Outstanding Amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Xxxxxxxxx Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.XXXXxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerCorporate Trust Office at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to the close of business on each Distribution Payment Determination Date, the Issuer shall cause the Manager to provide to the Indenture Trustee shall make available for the Indenture Trustee to (x) post on its internet website pursuant to Section 6.6 of the Indenture or (y) provide to each Noteholder of record Hedge Counterparty who does not then have access to such website pursuant to Section 6.6 hereof, a statement substantially in the form of Exhibit D hereto, setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (ia) the amount of such distribution allocable to principal of each Class of Notes; (ii) Collections and Asset Disposition Proceeds, if any, received in the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Collection Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid Period; (b) confirmation of compliance with the terms of the Indenture and the other Basic Documents; (c) other reports received or prepared by the Manager in respect of the Oil and Gas Portfolio and the Hedge Agreements, along with a summary of all Hedge Agreements in place, including volumes and percentage of production that is hedged, along with a calculation of the hedge ratio; (d) the amount of Administrative Expenses, Direct Expenses and indemnity payments paid to each party or withheld by the Operator pursuant to the Joint Operating Agreement or the Manager pursuant to the Management Services Agreement during the most recent Collection Period; (e) the amount of any fees and expenses paid to the Indenture Trustee, the Manager or the Back-up Manager with respect to the related Collection Period; (f) if any, the amount of (i) any payment (including breakage or termination payments) paid to the Hedge Counterparties with respect to the related Collection Period, (ii) all deposits into and payments out of each Hedge Collateral Account from or to each Hedge Counterparty during the Collection Period, and (iii) the balance of each Hedge Counterparty’s deposits on such Payment Determination Date, including, for the avoidance of doubt, the name of each Hedge Counterparty entitled to the balance identified by the Manager in clause (ii) above; provided, however, if a segregated Hedge Collateral Account is maintained for any one or more of the Hedge Counterparties, the information set out in clauses (ii) and (iii) need only be provided to each such Hedge Counterparty, individually, the Indenture Trustee and the Securities Intermediary and will not be required to be posted on the Indenture Trustee’s website; (g) the amount deposited in or withdrawn from the Liquidity Reserve Account on such Payment Determination Date, the amount on deposit in the Liquidity Reserve Account after giving effect to such deposit or withdrawal and the Liquidity Reserve Account Target Amount for such Payment Date; (h) the amount deposited in or withdrawn from the P&A Reserve Account on such Payment Determination Date, the amount on deposit in the P&A Reserve Account after giving effect to such deposit or withdrawal and the P&A Reserve Account Target Amount for such Payment Date; (i) the Outstanding Principal Amount, the Principal Distribution Amount and the Excess Amortization Amount (if any), with respect to such Collection Period or prior Collection Periods, as the case may bePayment Determination Date; (viij) the Noteholders’ Interest Carryover AmountNote Interest, if anyincluding any Subsequent Rate of Interest, and the change in that amount from the preceding statementwith respect to such Payment Date; (viiik) as of the Notification Date, confirmation as to whether a Subsequent Rate of Interest shall go into effect with, if applicable, a copy of the Satisfaction Notification; (l) the Excess Allocation Percentage (if any) with respect to such Payment Date; (m) the amount of the DSCR, the IO DSCR, the LTV, the Production Tracking Rate and the Securitized Net Cash Flow, in each case with respect to the related Collection Period (n) the amounts on deposit in each Issuer Account as of the related Payment Determination Date; (o) amounts due and owing and paid to the Noteholders under the Note Purchase Agreement and other Basic Documents; (p) identification of any Assets repurchased by Diversified by Well number with respect to such Asset (as specified in the Schedule of Assets), to the extent applicable; (q) a listing of all Permitted Indebtedness outstanding as of such date; (r) the amount of any Excess Funds and AFE Cover Amounts utilized to participate in AFE Operations during the related Collection Period; (s) a listing of any Additional Assets acquired by the Issuer or the Guarantors; (t) any reports regarding greenhouse gas or other carbon emissions associated with any Issuer Party’s operations or the products, to the extent publicly disclosed by the Issuer or any of its Affiliates; (u) the amount of Asset Disposition Proceeds deposited in the Asset Disposition Proceeds Account; (v) on an annual basis, on the Payment Determination Date occurring in March such report shall include the aggregate Realized LossesP&A Expense Amount for the preceding year and the excess, if any, for of the related Collection PeriodP&A Expense Amount in excess of the P&A Reserve Trigger Amount; (w) on an annual basis such report shall include any change, set forth to the fourth decimal place, in the Net Revenue Interest or Working Interest with respect to any Well from the Net Revenue Interest or Working Interest reflected in the most recent Reserve Report, except to the extent already expressly identified in a report under this Section 8.8; (x) reasonably detailed information regarding any Title Failure (as defined in the Separation Agreement) of which any Issuer Party has Knowledge and all documentation with respect to any actions, claims or Proceedings under the Separation Agreement; (y) any material Environmental Liability of which Issuer, Operator, Manager or any Affiliate thereof obtained Knowledge since the most recent report delivered under this Section 8.8; (z) the filing or commencement of, or the threat in writing of, any action, suit, investigation, arbitration or proceeding by or before any arbitrator or Governmental Body against Issuer, or any material adverse development in any action, suit, proceeding, investigation or arbitration (whether or not previously disclosed), that, in either case, if adversely determined, could reasonably be expected to result in liability in excess of $250,000; (aa) a reasonably detailed description of any Permitted Dispositions (other than any transfer of Assets between the Guarantors pursuant to the proviso of the definition of Permitted Disposition); and (ixbb) on the aggregate Purchase Amounts for Receivablesfirst Payment Determination Date where either Sustainability Performance Target has been met, if anya statement to that effect, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, together with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 copies of the confirmation from the External Verifier. Deliveries pursuant to this Section 8.8 or any other Section of this Indenture or Section 11.5 of the Indenture, as appropriatemay be delivered by electronic mail.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee shall make available on its website at xxx.xxxxxxxx.xxx/xxxxxx to each Noteholder of record as of the related Record Date, and to each other party to this Agreement, a statement statement, prepared by the Servicer, based on the information in the Distribution Date Statement furnished pursuant to Section 3.09, setting forth at least for such Distribution Date the following information as to of the Notes to related Record Date or such Distribution Date, as the extent such information has been received from the Servicer pursuant to Section 4.9 hereofcase may be: (i) the amount of such distribution allocable to principal of (stated separately for each Class of Notes), separately identifying the aggregate amount included therein of any (i) Full Prepayments of principal on Precomputed Contracts and (ii) Full Prepayments and partial prepayments of principal on Simple Interest Contracts; (ii) the amount of such distribution allocable to interest on or with respect to (stated separately for each Class of Notes); (iii) the required Reserve Account Withdrawal Note Distributable Amount or any excess released from the Reserve Account and included in Available Fundsfor such Distribution Date; (iv) the Pool Balance as of Premium payable to the close of business on the last day of the preceding Collection PeriodInsurer; (v) the aggregate outstanding principal amount of each Class of to be on deposit in the Notes Spread Account on such Distribution Date, before and the Note Pool Factor for each such Class after giving effect to payments allocated deposits thereto and withdrawals therefrom to principal reported under (i) abovebe made in respect of such Distribution Date; (vi) the amount of the Servicing Fee withdrawal, if any, required to be made from the Spread Account by the Indenture Trustee, specifying as to whether such amount is to be (A) deposited into the Payment Account, (B) paid to the Servicer with respect Insurer or (C) deposited into the Note Distribution Account for distribution to the related Collection Period and/or due but unpaid with respect holders of the Residual Interests pursuant to such Collection Period or prior Collection Periods, as the case may beSection 4.04; (vii) the Noteholders’ Interest Carryover Amount, if any, and aggregate Servicing Fee with respect to the change in that amount from Contracts for the preceding statementrelated Collection Period; (viii) the amount of fees paid to the Owner Trustee, the Trust Agent and the Indenture Trustee, with respect to the related Collection Period; (ix) the amount of any Note Interest Carryover Shortfall and Note Principal Carryover Shortfall on such Distribution Date and the change in such amounts from those with respect to the immediately preceding Distribution Date; (x) the number of, and aggregate Realized Lossesamount of, monthly principal and interest payments due on the Contracts which are delinquent as of the end of the related Collection Period presented on a 30-day, 60-day and 90-day basis; (xi) the Net Collections and the Insured Amount, if any, for such Distribution Date; (xii) the related aggregate amount of Liquidation Proceeds received for Defaulted Contracts; (xiii) the net credit losses and Cram Down Losses for the Collection Period; (xiv) the number and net outstanding balance of Contracts for which the Financed Vehicle has been repossessed; (xv) the Pool Balance and the Note Pool Factor for each Class of Notes as of such Distribution Date after giving effect to the distribution made on such Distribution Date; (xvi) on each Distribution Date occurring during and immediately following the end of the Funding Period, the amount on deposit in each of the Prefunding Account and the Capitalized Interest Account on such Distribution Date, before and after giving effect to withdrawals therefrom to be made in respect of such Distribution Date; (xvii) on each Distribution Date occurring during and immediately following the end of the Funding Period, the amounts of investment earnings and other amounts transferred from the Prefunding Account and the amounts transferred from the Capitalized Interest Account to the Payment Account; and (ixxviii) on the aggregate Purchase Amounts for ReceivablesDistribution Date immediately following the end of the Funding Period, if any, that were repurchased by the Servicer Mandatory Partial Redemption Amount. Each amount set forth pursuant to subclauses (i) or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(aii) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use shall be expressed as a dollar amount per $1,000.00 of original principal amount of a password provided Note. Assistance in using the website can be obtained by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by calling the Indenture Trustee from time at 0-000-000-0000. Parties that are unable to time in writing use the above distribution option are entitled to the Noteholders. In connection with providing access have a paper copy mailed to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreementthem via first class mail by calling 0-000-000-0000. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above Noteholders are distributed in order to make such distribution more convenient and/or more accessible to convenient, and the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide timely and adequate notification of any such change to all above parties entitled regarding such changes. (b) 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 prepare and furnish to receive the Issuer, the Indenture Trustee and each Paying Agent, and the Paying Agent for the Notes and the Paying Agent for the Residual Interest Instruments shall furnish to each Person who on any Record Date during such calendar year shall have been a Holder of a Note or a Residual Interest Instrument, respectively, a statement or statements containing the sum of the amounts set forth in clauses (i) and (ii) above for such calendar year and such other information as is reasonably necessary for the preparation of such Person's federal income tax return in respect of the Notes or Residual Interest Instruments or, in the manner described in Section 12.3 hereofevent such Person shall have been a Holder of a Note or a Residual Interest Instrument during a portion of such calendar year, Section 11.4 for the applicable portion of such year, for the Indenture purposes of such Noteholder's or Section 11.5 Residual Interestholder's preparation of the Indenture, as appropriatefederal income tax returns.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerCorporate Trust Office at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee shall make available on its website at xxx.xxxxxxxx.xxx/xxx to each Noteholder of record as of the related Record Date, and to each other party to this Agreement, a statement statement, prepared by the Servicer, based solely on the information in the Distribution Date Statement furnished pursuant to Section 3.08, setting forth at least for such Distribution Date the following information as to of the Notes to related Record Date or such Distribution Date, as the extent such information has been received from the Servicer pursuant to Section 4.9 hereofcase may be: (i) the amount of such distribution allocable to principal of (stated separately for each Class of Notes), separately identifying the aggregate amount included therein of any (i) Full Prepayments of principal on Precomputed Contracts and (ii) Full Prepayments and partial prepayments of principal on Simple Interest Contracts; (ii) the amount of such distribution allocable to interest on or with respect to (stated separately for each Class of Notes); (iii) the required Reserve Account Withdrawal Amount or any excess released from Note Distributable Amount, the Reserve Account Note Parity Deficit Amount, if any, and included in Available Fundsthe Note Targeted Principal Distributable Amount, if any, for such Distribution Date; (iv) the Pool Balance as of Premium payable to the close of business on the last day of the preceding Collection PeriodInsurer; (v) the aggregate outstanding principal amount of each Class of to be on deposit in the Notes Spread Account on such Distribution Date, before and the Note Pool Factor for each such Class after giving effect to payments allocated deposits thereto and withdrawals therefrom to principal reported under (i) abovebe made in respect of such Distribution Date; (vi) the amount of the Servicing Fee withdrawal, if any, required to be made from the Spread Account by the Indenture Trustee, specifying as to whether such amount is to be (A) deposited into the Payment Account, (B) paid to the Servicer with respect Insurer or (C) deposited into the Note Distribution Account for distribution to the related Collection Period and/or due but unpaid with respect holders of the Residual Interests pursuant to such Collection Period or prior Collection Periods, as the case may beSection 4.04; (vii) the Noteholders’ Interest Carryover Amount, if any, and aggregate Servicing Fee with respect to the change in that amount from Contracts for the preceding statementrelated Collection Period; (viii) the amount of fees paid to the Owner Trustee, the Trust Agent and the Indenture Trustee, with respect to the related Collection Period; (ix) the amount of any Note Interest Carryover Shortfall on such Distribution Date and the change in such amount from the immediately preceding Distribution Date; (x) the number of, and aggregate Realized Lossesamount of, monthly principal and interest payments due on the Contracts which are delinquent as of the end of the related Collection Period presented on a 30-day, 60-day and 90-day basis; (xi) the Net Collections and the Insured Payment, if any, for such Distribution Date; (xii) the related aggregate amount of Liquidation Proceeds received for Defaulted Contracts; (xiii) the net credit losses and Cram Down Losses for the Collection Period; (xiv) the number and net outstanding balance of Contracts for which the Financed Vehicle has been repossessed; (xv) the number and net outstanding balance of Contracts that have been repurchased pursuant to Section 2.03 or purchased pursuant to Section 3.06; (xvi) the Pool Balance and the Note Pool Factor for each Class of Notes as of such Distribution Date after giving effect to the distributions made on such Distribution Date; (xvii) on each Distribution Date occurring during and immediately following the end of the Funding Period, the amount on deposit in each of the Prefunding Account on such Distribution Date, before and after giving effect to withdrawals therefrom to be made in respect of such Distribution Date; (xviii) on each Distribution Date occurring during and immediately following the end of the Funding Period, the amounts of investment earnings and other amounts transferred from the Prefunding Account to the Payment Account; and (ixxix) on the aggregate Purchase Amounts for ReceivablesDistribution Date immediately following the end of the Funding Period, if any, that were repurchased by the Servicer Mandatory Partial Redemption Amount. Each amount set forth pursuant to subclauses (i) or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(aii) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use shall be expressed as a dollar amount per $1,000.00 of original principal amount of a password provided Note. Assistance in using the website can be obtained by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by calling the Indenture Trustee from time at 0-000-000-0000. Parties that are unable to time in writing use the above distribution option are entitled to the Noteholders. In connection with providing access have a paper copy mailed to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreementthem via first class mail by calling 0-000-000-0000. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above Noteholders are distributed in order to make such distribution more convenient and/or more accessible to convenient, and the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide timely and adequate notification of any such change to all above parties entitled regarding such changes. (b) 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 prepare and furnish to receive the Issuer, the Indenture Trustee and each Paying Agent, and the Paying Agent for the Notes and the Paying Agent for the Residual Interest Instruments shall furnish to each Person who on any Record Date during such calendar year shall have been a Holder of a Note or a Residual Interest Instrument, respectively, a statement or statements containing the sum of the amounts set forth in clauses (i) and (ii) above for such calendar year and such other information as is reasonably necessary for the preparation of such Person’s federal income tax return in respect of the Notes or Residual Interest Instruments or, in the manner described in Section 12.3 hereofevent such Person shall have been a Holder of a Note or a Residual Interest Instrument during a portion of such calendar year, Section 11.4 for the applicable portion of such year, for the Indenture purposes of such Noteholder’s or Section 11.5 Residual Interestholder’s preparation of the Indenture, as appropriatefederal income tax returns.

Statements to Noteholders. (a) On or prior each Payment Date and any other date for distribution of any payments with respect to each Distribution Dateany class of Notes then Outstanding, the Indenture Trustee shall make available to each Noteholder of record deliver a statement setting report (which delivery may be made through electronic mail (blind carbon copy)), covering the information set forth at least the following information as to the Notes to the extent such information has been received from in Exhibit D and prepared by the Servicer pursuant (on behalf of the Issuer), giving effect to Section 4.9 hereof: such payments (each, a “Distribution Report”), to (i) each Noteholder and Beneficial Holder that has executed and delivered to the amount of such distribution allocable to principal of each Class of Notes; Registrar a Confidentiality Agreement, (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; Issuer, (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account Calculation Agent and included in Available Funds; (iv) the Pool Balance as Equityholder, and to no other Person. The Trustee shall not be responsible for the contents of the close Distribution Reports. (b) Each Distribution Report provided to each Noteholder and Beneficial Holder by the Trustee for each Payment Date pursuant to Section 2.13(a), commencing March 31, 2015, or other date for distribution of business payments on the last day of Notes, shall include the preceding Collection Period; (v) amounts deposited into and withdrawn from the aggregate outstanding principal amount of each Class of the Notes Transaction Accounts and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under shall be accompanied by (i) above; a statement prepared by the Servicer setting forth an analysis of the Collection Account (viand other Transaction Accounts) activity for the period commencing the day next following the preceding Calculation Date and ending on the Calculation Date relating to such Payment Date and (ii) the amount of the Servicing Fee paid to the Servicer information with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, collections and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivablespayments, if any, that were repurchased by the Issuer shall have provided to the Trustee pursuant to Section 5.3 of the Indenture (or the Servicer shall have provided to the Trustee pursuant to Section 3.1 of the Servicing Agreement) during the Interest Accrual Period then ended (including copies of any reports (insofar as they affect or relate to the Payments (or any rights relating thereto), the Product, or, until all Group 2 Milestone Payments are paid to the Collection Account, the Group 2 Milestone Payments or the Seller in such periodtriggering events relating thereto) produced by Licensee pursuant to Article 15.2 of the License Agreement), which information shall be treated confidentially pursuant to the terms of the Confidentiality Agreement. (bc) The Indenture After the end of each calendar year but not later than the latest date permitted by Applicable Law, the Trustee will make available each month shall (or shall instruct any Paying Agent to) furnish to each Person who at any time during such calendar year was a Noteholder the statements referred to in Section 5.9(aof any class of Notes a statement (for example, a Form 1099 or any other means required by Applicable Law) above (and certain other documents, reports and information regarding the Receivables provided prepared by the Servicer from time Trustee containing the sum of the amounts determined pursuant to time) via the Indenture Trusteeinformation covered by Exhibit D with respect to the class of Notes for such calendar year or, in the event such Person was a Noteholder of any class of Notes during only a portion of such calendar year, for the applicable portion of such calendar year, and such other items as are readily available to the Trustee and that a Noteholder shall reasonably request as necessary for the purpose of such Noteholder’s internet websitepreparation of its U.S. federal income or other tax returns. So long as any of the Notes are registered in the name of DTC or its nominee, with such report and such other items will be prepared on the use basis of a password provided such information supplied to the Trustee by DTC and the Agent Members and will be delivered by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to DTC and by DTC to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements applicable Beneficial Holders in the manner described above. In the event that any such information has been provided by any Paying Agent directly to such Person through other tax-related reports or otherwise, the Trustee in its capacity as Paying Agent shall not be obligated to comply with such request for information. (d) At such time, if any, as the Notes of any class are issued in the form of Definitive Notes, the Trustee shall prepare and deliver the information described in Section 12.3 hereof, Section 11.4 2.13(c) to each Noteholder of a Definitive Note of such class for the relevant period of registered ownership of such Definitive Note as appears on the books and records of the Indenture or Section 11.5 Trustee. (e) The Trustee shall be at liberty to sanction any method of giving notice to the Noteholders of any class if, in its opinion, such method is reasonable, having regard to the number and identity of the IndentureNoteholders of such class and/or to market practice then prevailing, is in the best interests of the Noteholders of such class, and any such notice shall be deemed to have been given on such date as appropriatethe Trustee may approve; provided, that notice of such method is given to the Noteholders of such class in such manner as the Trustee shall require.

Statements to Noteholders. (a) On or prior With respect to each Distribution Payment Date, the Indenture Trustee Securities Administrator shall make available via the Securities Administrator’s website, initially located at xxx.xxxxxxx.xxx, to each Noteholder of record and each Certificateholder, the Depositor, the Issuing Entity, the Seller, the Owner Trustee, the Certificate Paying Agent and the Rating Agencies, a statement setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of such distribution allocable to principal of Available Funds, the Carryover Shortfall Amount on each Class of Notes (other than the Class X Notes and Class B Notes) for such Payment Date; (ii) (a) the amount of such distribution allocable to interest on or with respect to each Class of Notes (other than the Class X Notes) applied to reduce the Note Principal Balance thereof, and (b) the aggregate amount included therein representing Principal Prepayments; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Fundsamount of such distribution to Holders of each Class of Notes allocable to interest; (iv) the Pool Balance as amount of any distribution to the close of business on the last day of the preceding Collection PeriodCertificates; (v) if the aggregate outstanding principal distribution to the Holders of any Class of Notes is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) aboveshortfall; (vi) the amount number and the aggregate Scheduled Principal Balance of the Servicing Fee paid to Mortgage Loans as of the Servicer with respect to end of the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may beDue Period; (vii) the Noteholders’ Interest Carryover Amountaggregate Note Principal Balance of each Class of Notes, if anyafter giving effect to the amounts distributed on such Payment Date, separately identifying any reduction thereof due to Realized Losses and the change in that amount from aggregate Note Principal Balance of the preceding statementNotes after giving effect to the distribution of principal on such Payment Date; (viii) the amount number and aggregate Scheduled Principal Balance of Mortgage Loans (a) as to which the Monthly Payment is delinquent for 31-60 days, 61-90 days, 91 or more days, respectively, (b) in foreclosure and (c) that have become REO Property, in each case as of the aggregate Realized Losses, if any, for end of the related Collection Period; andpreceding calendar month; (ix) the amount of any Monthly Advances and Compensating Interest payments; (x) the aggregate Realized Losses with respect to the related Payment Date and cumulative Realized Losses since the Closing Date; (xi) the number and aggregate Scheduled Principal Balance of Mortgage Loans repurchased pursuant to the Mortgage Loan Purchase Amounts Agreement for Receivablesthe related Payment Date and cumulatively since the Closing Date; (xii) the book value (if available) of any REO Property; (xiii) the amount of any Prepayment Interest Shortfalls or Relief Act Shortfalls for such Payment Date; (xiv) [reserved]; (xv) the aggregate Scheduled Principal Balance of Mortgage Loans purchased pursuant to Section 2.04 of the Sale and Servicing Agreement for the related Payment Date and cumulatively since the Closing Date; (xvi) information regarding any new issuance of securities backed by the same asset pool, any pool asset changes, such as additions or removals of Mortgage Loans from the Trust Estate, if anyapplicable; and (xvii) any material changes in the solicitation, credit-granting, underwriting, origination, acquisition or Mortgage Loan selection criteria or procedures, as applicable, used to originate, acquire or select Mortgage Loans for the Trust Estate. The Depositor covenants that were repurchased if there is a material change in the solicitation, credit-granting, underwriting, origination, acquisition or Mortgage Loan selection criteria or procedures, as applicable, used to originate, acquire or select Mortgage Loans for the Trust Estate that it will notify the Securities Administrator five calendar days before each Payment Date, and if no such notification occurs, the Securities Administrator has no obligation to report with respect to (xvii). The Depositor covenants to the Securities Administrator that there will be no new issuance of securities backed by the same asset pool, so the Securities Administrator will only be responsible in (xvi) above for reporting any pool asset changes, such as additions or removals of Mortgage Loans from the Trust Estate. Items (iii) and (iv) above shall be presented on the basis of a Note having a $1,000 denomination. In addition, by January 31 of each calendar year following any year during which the Notes are outstanding, the Securities Administrator shall furnish a report to each Noteholder of record if so requested in writing at any time during each calendar year as to the aggregate of amounts reported pursuant to (iii) and (iv) with respect to the Notes for such calendar year. The Securities Administrator may conclusively rely upon the information provided by the Master Servicer or to the Seller Securities Administrator in such period. (b) its preparation of monthly statements to Noteholders. The Indenture Trustee Securities Administrator will make the monthly statements provided for in this section (and, at its option, any additional files containing the same information in an alternative format) available each month to Noteholders, each Noteholder and each Certificateholder, the statements referred to in Section 5.9(a) above (Depositor, the Issuing Entity, the Seller, the Owner Trustee, the Certificate Paying Agent and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) Rating Agency via the Indenture Trustee’s internet Securities Administrator's website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as Securities Administrator’s website shall initially be located at “xxx.xxxxxxx.xxx.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (000) 000-0000. Parties that are unable to use the accuracy or completeness of such documents, reports website are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and information regarding the Receivables provided by the Servicerindicating such. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee Securities Administrator may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the monthly statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The Securities Administrator shall be entitled to receive such statements so long as such statements are only provided to rely on but shall not be responsible for the then current Noteholders. The Indenture Trustee shall provide notification content or accuracy of any such change to all information provided by third parties entitled to receive such statements for purposes of preparing the monthly statement, and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the manner described in Section 12.3 hereof, Section 11.4 part of the Indenture or Section 11.5 of the Indenture, as appropriateany other party hereto).

Statements to Noteholders. (a) On or prior to each Determination Date preceding a Distribution Date, pursuant to the Administration Agreement the Administrator shall provide to the Indenture Trustee shall make available (with a copy to the Owner Trustee, Ambac (provided that Ambac is then the Controlling Party) and the Rating Agencies) for the Indenture Trustee to forward on such succeeding Distribution Date to each Noteholder holder of record of the Notes a statement setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i1) the amount of such the distribution allocable to principal of each Class of Notes; (ii2) the amount of such the distribution allocable to interest on or each Class of Notes (including, with respect to each Class of the Auction Rate Notes, the portion allocable to Noteholders’ Interest Carryover Shortfall), together with the interest rates applicable with respect thereto; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv3) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class , after giving effect to the related payments allocated to principal reported under clause (i1) above; (vi4) the aggregate outstanding principal balance of each Class of Notes as of such Distribution Date, after giving effect to related payments allocated to principal reported under clause (1) above; (5) for each Distribution Date (A) the amount of fees and expenses paid to the Indenture Trustee and the Owner Trustee; (B) the amount of the Servicing Fee and expenses paid to the Servicer Servicers; (C) the amount of fees paid to XXXX; (D) the Note Insurance Premium and expenses paid to Ambac and any amounts drawn on the Financial Guaranty Insurance Policy with respect to such Distribution Date; (E) the related Collection Period and/or due but unpaid amount of the Administration Fee and expenses paid to the Administrator, and (F) the amount of the Back-Up Administration Fee and expenses paid to the Back-Up Administrator, and, in each case, with respect to such Collection Period or prior Collection PeriodsPeriod, as together with the case may be; (vii) the Noteholders’ Interest Carryover Amountamount, if any, and the change in that amount from the preceding statementremaining unpaid after giving effect to all such payments; (viii6) for each Distribution Date, the amount of the aggregate Realized LossesLosses for the Financed Student Loans, if any, for such Collection Period and the related balance of the Financed Student Loans that are delinquent in each delinquency period as of the end of such Collection Period; (7) the balance of the Reserve Account on such Distribution Date, after giving effect to changes therein on such Distribution Date; (8) the amounts withdrawn from the Reserve Account on such Distribution Date; (9) the balance of the Future Distribution Account on such Distribution Date (10) the amounts paid from the Future Distribution Account on each Auction Payment Date subsequent to the immediately prior Distribution Date; (11) the amount of any Advance with respect to such Distribution Date; (12) the amount transferred to the XXXX Pledge Fund to acquire Rehabilitated Student Loans with respect to such Distribution Date; and (ix13) the aggregate Purchase Amounts for Receivablesamount of the distribution allocable to Prepayment Penalties. Each amount set forth pursuant to clauses (1), if any(2), that were repurchased (3), (5) and (6) above shall be expressed as a dollar amount. A copy of the statements referred to above may be obtained by any Note Owner by a written request to the Servicer or Indenture Trustee addressed to the Seller in such periodCorporate Trust Office. (b) The Indenture Trustee will make available On each month Determination Date preceding an Auction Rate Note Interest Payment Date, the Administrator shall provide to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing (with a copy to the Noteholders. In connection with providing access to Owner Trustee, Ambac (provided that Ambac is then the Indenture Trustee’s internet website, Controlling Party) and the Rating Agencies) for the Indenture Trustee may require registration and to forward to each holder of record of the acceptance applicable Class of Notes a disclaimer. The Indenture Trustee shall not be liable for statement setting forth the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(aclauses (1) and (2) above are distributed in order to make such distribution more convenient and/or more accessible with respect to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriaterelated Auction Rate Notes.

Statements to Noteholders. (a) On or prior Subject to Section 3.26 of this Indenture, with respect to each Distribution Payment Date, the Indenture Trustee shall make available deliver to each Noteholder of record Certificateholder and Noteholder, the Note Insurer, the Company, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the aggregate amount of collections with respect to the Mortgage Loans with respect to such distribution allocable to principal of each Class of NotesPayment Date; (ii) the amount of Interest Payment Amount, Principal Payment Amount and Subordination Increase Amount payable to the Noteholders for such distribution allocable to interest on or with respect to each Class of NotesPayment Date, the Guaranteed Interest Payment Amount and the Carry-Forward Amount for such Payment Date and the aggregate unpaid Carry-Forward Amount for all prior Payment Dates; (iii) the required Reserve Account Withdrawal Amount or any excess released from amount of the Reserve Account and included in Available Fundsaggregate distribution to the Noteholders for such Payment Date; (iv) the Pool Balance as of Scheduled Payments, if any, paid by the close of business on Note Insurer under the last day of Note Insurance Policy for such Payment Date and the preceding Collection Periodaggregate Scheduled Payments for all prior Payment Dates paid by the Note Insurer under the Note Insurance Policy and not yet reimbursed; (v) the aggregate outstanding principal amount of each Class Principal Balance of the Notes and Mortgage Loans as of the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) aboveend of the preceding Due Period; (vi) the amount number and aggregate Principal Balances of Mortgage Loans (a) as to which the Monthly Payment is delinquent for 30-59 days, 60-89 days and 90 or more days (excluding any Mortgage Loans in foreclosure or that have become REO Property), respectively, (b) in foreclosure and (c) that have become REO Property, in each case as of the Servicing Fee paid end of the preceding Due Period; provided, however, that such information will not be provided on the statements relating to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may befirst Payment Date; (vii) the Noteholders’ Interest Carryover Amount, if any, and Weighted Average Net Mortgage Rate for the change in that amount from the preceding statementrelated Payment Date; (viii) the amount of the aggregate Realized LossesRequired Subordination Amount, if anySubordination Amount, Net Monthly Excess Cashflow and Subordination Reduction Amount for the related Collection Period; andsuch Payment Date; (ix) the aggregate Purchase Amounts amount of any Advances and Compensating Interest for Receivables, if any, that were repurchased by the Servicer or the Seller in such period.Payment Date; (bx) The the aggregate Realized Losses with respect to the related Payment Date and cumulative Realized Losses since the Closing Date; (xi) the amount of any unpaid accrued interest on the Notes after such Payment Date; (xii) the aggregate Note Principal Balance of the Notes after giving effect to the distribution of principal on such Payment Date; (xiii) the Maximum Note Interest Rate, Guaranteed Interest Payment Amount and Note Interest Rate for such Payment Date; (xiv) the number and aggregate Principal Balance of Mortgage Loans repurchased pursuant to the Home Equity Loan Purchase Agreement for the related Payment Date and cumulatively since the Closing Date; (xv) the Cumulative Loss Percentage, Delinquency Percentage, Delinquency Amount and Rolling Delinquency Percentage for such Payment Date; (xvi) the amount of any Prepayment Interest Shortfalls or Relief Act Shortfalls for such Payment Date; and (xvii) the aggregate Principal Balance of Mortgage Loans purchased pursuant to Section 3.18 of the Servicing Agreement for the related Payment Date and cumulatively since the Closing Date. Items (iii) and (xii) above shall be presented on the basis of a Note having a $1,000 denomination. In addition, by January 31 of each calendar year following any year during which the Notes are outstanding, the Indenture Trustee will make available each month shall furnish a report to each Noteholder of record if so requested in writing at any time during each calendar year as to the statements referred aggregate of amounts reported pursuant to in Section 5.9(a(iii) above and (and certain other documents, reports and information regarding xii) with respect to the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture TrusteeNotes for such calendar year. The Indenture Trustee will make no representation or warranties as to in the accuracy or completeness absence of such documents, reports and information regarding manifest error may conclusively rely upon the Receivables Determination Date Report provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by Master Servicer pursuant to Section 4.01 of the Indenture Trustee from time to time Servicing Agreement in writing its preparation of its Statement to the Noteholders. In connection with providing access Noteholders pursuant to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate7.04.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to provide each Noteholder of record (with a copy to the Trustee, the Owner Trustee, the Insurer and the Rating Agencies) a statement substantially in the form of Exhibit B hereto setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released amount of such distribution payable out of amounts withdrawn from the Reserve Spread Account and included in Available Fundsor pursuant to a claim on the Note Policy; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount balance of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to all payments allocated to principal reported under (i) aboveabove on that Distribution Date; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ ' Interest Carryover Amount and the Noteholders' Principal Carryover Amount, if any, and the change in that amount those amounts from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and; (ix) the amount of the aggregate Purchase Amounts for ReceivablesReceivables that have been reacquired, if any, that were repurchased by for the Servicer related Collection Period; (x) the amount of funds to be distributed according to each subclause of Section 5.7(b) herein; and (xi) the amount calculated as of the related Determination Date for each of the following: (A) Pro Forma Note Balance; (B) Required Pro Forma Note Balance Percentage; (C) Step-Down Amount; and (D) Principal Distributable Amount. Each amount set forth pursuant to paragraph (i), (ii), (iii), (vii) and (viii) above shall be expressed as a dollar amount per $1,000 of the initial principal balance of the Notes (or the Seller in such periodClass thereof). (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a5.10(a) above (and certain other documentsand, reports and at its option, any additional files containing the same information regarding the Receivables provided by the Servicer from time to timein an alternative format) available each month via the Indenture Trustee’s Trust Collateral Agent's internet website, but only with the use of a password provided by the Indenture TrusteeTrust Collateral Agent or its agent to such Person upon receipt by the Trust Collateral Agent from such Person of a certification in the form of Exhibit C; PROVIDED, HOWEVER, that the Trust Collateral Agent or its agent shall provide such password to the parties to this Agreement and the Rating Agencies without requiring such certification. The Indenture Trustee website is presently located at xxx.XXXXxx.xxx. The Trust Collateral Agent will make no representation or warranties as to the accuracy or completeness of such documents, reports documents and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholderswill assume no responsibility therefore. In connection with providing access to the Indenture Trustee’s Trust Collateral Agent's internet website, the Indenture Trustee Trust Collateral Agent may require registration and the acceptance of a disclaimer. The Indenture Trustee Trust Collateral Agent shall not be liable for the dissemination of information in accordance with this Agreement. Persons that are entitled to receive such statements but are unable to use the above website are entitled to have a paper copy mailed to them via first class mail by calling the Trust Collateral Agent at (000) 000-0000. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.Section

Statements to Noteholders. (a) On or prior With respect to each Distribution Payment Date, the Indenture Trustee shall make available via the Indenture Trustee's website xxxxx://xxx.xxxxxxxx.xxx/sfr or deliver at the recipient's option to each Noteholder of record and each Certificateholder, the Depositor, the Owner Trustee, the Certificate Paying Agent, the Underwriter and each Rating Agency, a statement setting forth at least the following information, calculated by the Indenture Trustee based on the aggregate loan-level information provided to it by the Servicer, as to the Notes (it being understood that the Servicer shall provide the information described in clauses (iv), (v), (vi), (vii) and (viii) below in its Electronic File delivered to the Indenture Trustee), to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of the payment made on such distribution allocable Payment Date to principal the Holders of the Notes of each Class of Notesallocable to principal; (ii) the amount of the payment made on such distribution Payment Date to the Holders of the Notes of each Class allocable to interest on or with respect to each Class of Notesinterest; (iii) the required Reserve Account Withdrawal Amount aggregate Servicing Fee received by the Servicer during the related Due Period and such other customary information as the Indenture Trustee deems necessary or any excess released from the Reserve Account desirable, or which a Noteholder or Certificateholder reasonably requests, to enable Noteholders and included in Available FundsCertificateholders to prepare their tax returns; (iv) the Pool aggregate Principal Balance of the Contracts as of the close of business on the last day end of the preceding Collection related Due Period; (v) the number, aggregate outstanding principal amount of each Class balance, weighted average remaining term to maturity and weighted average Contract Rate of the Notes and Contracts as of the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) aboveend of the related Due Period; (vi) the amount number and aggregate unpaid principal balance of Contracts (a) delinquent 30 to 59 days, (b) delinquent 60 to 89 days, (c) delinquent 90 or more days, in each case, as of the Servicing Fee paid last day of the preceding calendar month, (d) as to the Servicer which repossession or foreclosure proceedings have been commenced and (e) with respect to which the related Collection Period and/or due but unpaid Obligor has filed for protection under applicable bankruptcy laws, with respect to such Collection Period whom bankruptcy proceedings are pending or prior Collection Periods, as the case may bewith respect to whom bankruptcy protection is in force; (vii) the Noteholders’ Interest Carryover Amount, if any, and aggregate amount of Principal Prepayments received during the change in that amount from the preceding statementrelated Prepayment Period; (viii) the aggregate amount of Realized Losses incurred during the related Prepayment Period and the aggregate amount of Realized Losses, if any, for Losses incurred since the related Collection Period; andClosing Date; (ix) the aggregate Purchase Amounts Note Balance of each Class of Notes, after giving effect to the payments made on such Payment Date and the Adjusted Note Balance of each Class of Mezzanine Notes on such Payment Date; (x) the Interest Payment Amount in respect of the Class A Notes, the Mezzanine Notes and the Class B Notes for Receivablessuch Payment Date and the Class M-1 Liquidation Loss Interest Amount, Class M-2 Liquidation Loss Interest Amount, Class B Liquidation Loss Interest Amount and any Available Funds Cap Carry-Forward Amount, if any, that were repurchased by with respect to the Servicer Class A Notes, the Mezzanine Notes or the Seller in Class B Notes on such periodPayment Date; (xi) the Overcollateralization Target Amount for such Payment Date; (xii) the Overcollateralization Amount, if any, for such Payment Date; (xiii) the respective Note Rates applicable to the Mezzanine Notes for such Payment Date and the Available Funds Cap Carry-Forward Amount for each Class of Mezzanine Notes, if any, for such Payment Date; and (xiv) the amount of such distribution to the Trust Certificates. (b) The Indenture Trustee will make available each month to each Noteholder may conclusively rely upon the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables Electronic File provided by the Servicer from time pursuant to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 4.01 of the Indenture or Section 11.5 Servicing Agreement in its preparation of the Indenture, as appropriateits Statement to Noteholders.

Statements to Noteholders. (a) On or prior each Payment Date and any other date for distribution of any payments with respect to each Distribution Dateany class of Notes then Outstanding, the Indenture Trustee shall make available deliver a report, covering the information set forth in Exhibit D and prepared by the Servicer, giving effect to each Noteholder of record such payments (each, a statement setting forth at least the following information as “Distribution Report”), to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) each Noteholder and Beneficial Holder included on the amount of such distribution allocable Approved Holder List (and not to principal of each Class of Notes; any Noteholder or Beneficial Holder not included on the Approved Holder List), (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; Issuer, (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account Calculation Agent and included in Available Funds; (iv) the Pool Balance as of Parent, and to no other Person. Each Noteholder and Beneficial Holder shall be entitled to receive the close of business on Distribution Report only if such Noteholder or Beneficial Holder has executed and delivered to the last day of the preceding Collection Period;Registrar a Confidentiality Agreement. (vb) Each Distribution Report provided to each Noteholder and Beneficial Holder by the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor Trustee for each such Class after giving effect Payment Date pursuant to payments allocated to principal reported under Section 2.13(a), commencing May 15, 2008, shall be accompanied by (i) above; (via statement prepared by the Servicer setting forth an analysis of the Collection Account activity for the period commencing on the day next following the preceding Calculation Date and ending on the Calculation Date relating to such Payment Date, which shall set forth, among other things, the aggregate amount payable to Pfizer and certain other third parties entitled to royalties in respect of Subject Products set forth in the report contemplated by Section 4.1(c)(xi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to Agreement, (ii) such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivablesinformation, if any, that were repurchased by the Parent shall have provided to the Trustee pursuant to Section 6.3 of the Purchase and Sale Agreement during the Interest Accrual Period then ended and (iii) the information, if any, that the Issuer shall have provided to the Trustee pursuant to Section 5.3 (or the Servicer or shall have provided to the Seller in such periodTrustee pursuant to Section 4.1 of the Servicing Agreement) during the Interest Accrual Period then ended. (bc) The Indenture After the end of each calendar year but not later than the latest date permitted by law, the Trustee will make available each month shall (or shall instruct any Paying Agent to) furnish to each Person who at any time during such calendar year was a Noteholder the statements referred to in Section 5.9(aof any class of Notes a statement (for example, a Form 1099 or any other means required by law) above (and certain other documents, reports and information regarding the Receivables provided prepared by the Servicer from time Trustee containing the sum of the amounts determined pursuant to time) via the Indenture Trusteeinformation covered by Exhibit D with respect to the class of Notes for such calendar year or, in the event such Person was a Noteholder of any class of Notes during only a portion of such calendar year, for the applicable portion of such calendar year, and such other items as are readily available to the Trustee and that a Noteholder shall reasonably request as necessary for the purpose of such Noteholder’s internet websitepreparation of its U.S. federal income or other tax returns. So long as any of the Notes are registered in the name of DTC or its nominee, with such report and such other items will be prepared on the use basis of a password provided such information supplied to the Trustee by DTC and the Agent Members and will be delivered by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to DTC and by DTC to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements applicable Beneficial Holders in the manner described above. In the event that any such information has been provided by any Paying Agent directly to such Person through other tax-related reports or otherwise, the Trustee in its capacity as Paying Agent shall not be obligated to comply with such request for information. (d) At such time, if any, as the Notes of any class are issued in the form of Definitive Notes, the Trustee shall prepare and deliver the information described in Section 12.3 hereof, Section 11.4 2.13(c) to each Noteholder of a Definitive Note of such class for the relevant period of registered ownership of such Definitive Note as appears on the books and records of the Indenture or Section 11.5 Trustee, subject to confirmation that each such Noteholder has executed and delivered to the Registrar a Confidentiality Agreement. (e) The Trustee shall be at liberty to sanction any method of giving notice to the Noteholders of any class if, in its opinion, such method is reasonable, having regard to the number and identity of the IndentureNoteholders of such class and/or to market practice then prevailing, is in the best interests of the Noteholders of such class, and any such notice shall be deemed to have been given on such date as appropriatethe Trustee may approve; provided, that notice of such method is given to the Noteholders of such class in such manner as the Trustee shall require.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee shall make available include with each distribution to each Noteholder of record record, a statement statement, prepared by the Servicer, based on information in the Servicer's Certificate furnished pursuant to Section 10.01(b) of the 1998-A Servicing Supplement, setting forth at least for the related Collection Period and distribution the following information as to of the Notes to related Record Date or Deposit Date or such Distribution Date, as the extent such information has been received from the Servicer pursuant to Section 4.9 hereofcase may be: (i) the amount of Investor Percentage for such distribution allocable to principal of each Class of NotesCollection Period, stated separately for Interest Collections and Loss Amounts, and for Principal Collections; (ii) the total amount of being distributed to Noteholders in such distribution allocable to interest on or with respect to each Class of Notesdistribution; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included total amount being distributed to each Class of Noteholders in Available Fundssuch distribution; (iv) the Pool Balance as total amount of the close interest being distributed to each Class of business on the last day of the preceding Collection PeriodNoteholders in such distribution; (v) the aggregate outstanding principal amount amount, if any, of each Class of the Notes A-1 Interest Carryover Shortfall, Class A-2 Interest Carryover Shortfall, Class A-3 Interest Carryover Shortfall, Class A-4 Interest Carryover Shortfall and the Note Pool Factor for each Class B Interest Carryover Shortfall included in such Class after giving effect to payments allocated to principal reported under (i) abovedistribution; (vi) the amount amount, if any, of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but remaining unpaid with respect Class A-1 Interest Carryover Shortfall, Class A-2 Interest Carryover Shortfall, Class A-3 Interest Carryover Shortfall, Class A-4 Interest Carryover Shortfall and Class B Interest Carryover Shortfall after giving effect to such Collection Period or prior Collection Periods, as the case may bedistribution; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change total amount of principal being distributed to each Class of Noteholders in that amount from the preceding statementsuch distribution; (viii) the Class A-1 Allocation Percentage, the Class A-2 Allocation Percentage, the Class A-3 Allocation Percentage, the Class A-4 Allocation Percentage, the Class B Allocation Percentage and the amount, if any, of the reimbursement of Class A-1 Charged-off Amounts, Class A-1 Residual Value Loss Amounts and Class A-1 Additional Loss Amounts, Class A-2 Charged-off Amounts, Class A-2 Residual Value Loss Amounts and Class A-2 Additional Loss Amounts, Class A-3 Charged-off Amounts, Class A-3 Residual Value Loss Amounts and Class A-3 Additional Loss Amounts, Class A-4 Charged-off Amounts, Class A-4 Residual Value Loss Amounts and Class A-4 Additional Loss Amounts and Class B Charged-off Amounts, Class B Residual Value Loss Amounts and Class B Additional Loss Amounts being included in such distribution; (ix) the amount, if any, of the reimbursement of Class A-1 Note Principal Loss Amounts, Class A-2 Note Principal Loss Amounts, Class A-3 Note Principal Loss Amounts, Class A-4 Note Principal Loss Amounts and Class B Note Principal Loss Amounts included in such distribution; (x) the amount, if any, of the aggregate of unreimbursed Class A-1 Note Principal Loss Amounts, Class A-2 Note Principal Loss Amounts, Class A-3 Note Principal Loss Amounts, Class A-4 Note Principal Loss Amounts and Class B Note Principal Loss Amounts after giving effect to such distribution; (xi) the amount, if any, of accrued Class A-1 Note Principal Loss Interest Amounts, Class A-2 Note Principal Loss Interest Amounts, Class A-3 Note Principal Loss Interest Amounts, Class A-4 Note Principal Loss Interest Amounts and Class B Note Principal Loss Interest Amounts included in such distribution; (xii) the amount, if any, of accrued and unpaid Class A-1 Note Principal Loss Interest Amounts, Class A-2 Note Principal Loss Interest Amounts, Class A-3 Note Principal Loss Interest Amounts, Class A-4 Note Principal Loss Interest Amounts and Class B Note Principal Loss Interest Amounts after giving effect to such distribution; (xiii) the amount, if any, of accrued and unpaid Class B Note Principal Carryover Shortfall after giving effect to such distribution; (xiv) the Investor Percentage of the Servicing Fee allocable to the 1998-A SUBI Interest for such Distribution Date and any unpaid previous such amounts with respect to prior Distribution Dates; (xv) the Note Balance, the Class A-1 Note Balance, the Class A-2 Note Balance, the Class A-3 Note Balance, the Class A-4 Note Balance, the Class B Note Balance, the Class A-1 Note Factor, the Class A-2 Note Factor, the Class A-3 Note Factor, the Class A-4 Note Factor and the Class B Note Factor, each after giving effect to such distribution; (xvi) the Transferor Amount, if any, included in such distribution and the amount of the aggregate Realized LossesTransferor Interest, after giving effect to all payments made on such Distribution Date; (xvii) the Required Amount, if any, included in such distribution; (xviii) the Aggregate Net Investment Value as of the end of such Collection Period; (xix) the amount on deposit in the Reserve Fund on such Distribution Date, after giving effect to such distributions, the change in such balance from the immediately preceding Distribution Date, the Reserve Fund Cash Requirement, the Reserve Fund Supplemental Requirement (if any), the RV Insurer Reserve Fund Supplemental Requirement (if any) and the Downgrade Reserve Fund Supplemental Requirement (if any); (xx) the amount of Payments Ahead on deposit in the 1998-A SUBI Collection Account and representing Monthly Lease Payments due in one or more immediately subsequent Collection Periods and the change in such balance from the immediately preceding Distribution Date; (xxi) the amount of Outstanding Advances on such Distribution Date and the changes in such amount from the immediately preceding Distribution Date; (xxii) the weighted average Lease Rate of the Leases in the 1998-A SUBI Portfolio for the immediately preceding Collection Period and the Charge-off Rate and Delinquency Rate for each of the three immediately preceding Collection Periods; (xxiii) the Insured Residual Value Loss Amount, if any, for such Distribution Date; (xxiv) the related Collection PeriodClass A Net Swap Payment and the Class A Net Swap Receipt, in each case, if any, for such Distribution Date; and (ixxxv) the aggregate Purchase Covered Loss Amounts for Receivablesand Uncovered Loss Amounts, in each case, if any, that were repurchased by for such Distribution Date. Each amount set forth pursuant to subclauses (ii) through (xiii) above shall be expressed as a dollar amount per $1,000 of original principal balance of a Note. Any Note Owner may obtain a copy of any such statement, of any Servicer's Certificate required pursuant to Section 10.01(b) of the Servicer or 1998-A Servicing Supplement, any annual report of Independent Accountants required pursuant to Section 3.02 of the Seller in such periodServicing Agreement and Section 10.02 of the 1998-A Servicing Supplement, and of any annual Officer's Certificate required pursuant to Section 3.03 of the Servicing Agreement and Section 10.03(a) of the 1998-A Servicing Supplement, upon written request to the Indenture Trustee at the Corporate Trust Office of the Indenture Trustee. (b) The Indenture Trustee will make available Within a reasonable period of time after the end of each month to each Noteholder calendar year, but not later than the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided latest date permitted by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet websitelaw, the Indenture Trustee may require registration and the acceptance shall mail to each Person who at any time during such calendar year shall have been a Holder of a disclaimerNote, a statement or statements which in the aggregate contain the sum of the amounts set forth in clauses (a)(ii) through (vii), (viii) through (xiv) above for such calendar year or, in the event such Person shall have been a Holder of a Note 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. The In addition, the Servicer shall furnish to the Indenture Trustee shall not be liable for distribution to such Person at such time any other information reasonably necessary under applicable law for the dissemination preparation of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriateincome tax returns.

Statements to Noteholders. (a) On or prior Pursuant to each Distribution DateSection 4.01, the Master Servicer shall deliver to the Indenture Trustee shall make available the data necessary to each Noteholder of record prepare a statement setting forth at least (the following "Monthly Statement") for each Payment Date with the information as in Exhibit E. Such statement shall be based solely on the information provided to the Notes to Indenture Trustee by the extent such information has been received from the Master Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable preceding sentence upon which information the Indenture Trustee may conclusively rely. If the Monthly Statement is not accessible to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s 's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is xxxxx://xxx.xxxxxxxx.xxx/sfr. Assistance in using the Indenture Trustee's internet website may require registration and be obtained by calling the acceptance of a disclaimerIndenture Trustee's customer service desk at (000) 000-0000. The Indenture Trustee shall not be liable notify each Noteholder, the Credit Enhancer, the Master Servicer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (5), (6), (7) and (8) of the Monthly Statement aggregated for the dissemination year. This requirement of the Master Servicer shall be satisfied if substantially comparable information in accordance with this Agreementis provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall have prepare (in a manner consistent with the right treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to change be filed or furnished to Noteholders for payments by the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee (or the Paying Agent) on the Notes and shall provide notification of any file and distribute such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, forms as appropriaterequired by law.

Statements to Noteholders. (a) On or prior Subject to Section 3.26 of this Indenture, with respect to each Distribution Payment Date, the Indenture Trustee shall make available deliver to each Noteholder of record Certificateholder and Noteholder, the Note Insurer, the Company, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the aggregate amount of collections with respect to the Mortgage Loans with respect to such distribution allocable to principal of each Class of NotesPayment Date; (ii) the amount of Interest Payment Amount, Principal Payment Amount and Subordination Increase Amount payable to the Noteholders for such distribution allocable to interest on or with respect to each Class of NotesPayment Date; (iii) the required Reserve Account Withdrawal Amount or any excess released from amount of the Reserve Account and included in Available Fundsaggregate distribution to the Noteholders for such Payment Date; (iv) the Pool Balance as of Scheduled Payments, if any, paid by the close of business on Note Insurer under the last day of Note Insurance Policy for such Payment Date and the preceding Collection Periodaggregate Scheduled Payments for all prior Payment Dates paid by the Note Insurer under the Note Insurance Policy and not yet reimbursed; (v) the aggregate outstanding principal amount of each Class Principal Balance of the Notes and Mortgage Loans as of the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) aboveend of the preceding Due Period; (vi) the amount number and aggregate Principal Balances of Mortgage Loans (a) as to which the Monthly Payment is delinquent for 30-59 days, 60-89 days and 90 or more days (excluding any Mortgage Loans in foreclosure or that have become REO Property), respectively, (b) in foreclosure and (c) that have become REO Property, in each case as of the Servicing Fee paid end of the preceding Due Period; provided, however, that such information will not be provided on the statements relating to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may befirst Payment Date; (vii) the Noteholders’ Interest Carryover Amount, if any, and Weighted Average Net Mortgage Rate for the change in that amount from the preceding statementrelated Payment Date; (viii) the amount of the aggregate Realized LossesRequired Subordination Amount, if anySubordination Amount, Net Monthly Excess Cashflow and Subordination Reduction Amount for the related Collection Period; andsuch Payment Date; (ix) the amount of any Advances and Compensating Interest for such Payment Date; (x) the aggregate Realized Losses with respect to the related Payment Date and cumulative Realized Losses since the Closing Date; (xi) the amount of any unpaid accrued interest on the Notes after such Payment Date; (xii) the aggregate Note Principal Balance of the Notes after giving effect to the distribution of principal on such Payment Date; (xiii) the Note Interest Rate for such Payment Date; (xiv) the number and aggregate Principal Balance of first lien Mortgage Loans and the number and aggregate Principal Balance of second lien Mortgage Loans repurchased pursuant to the Home Equity Loan Purchase Amounts Agreement for Receivablesthe related Payment Date and cumulatively since the Closing Date; (xv) the Cumulative Loss Percentage, Delinquency Percentage, Delinquency Amount and Rolling Delinquency Percentage for such Payment Date; (xvi) the amount of any Prepayment Interest Shortfalls or Relief Act Shortfalls for such Payment Date; (xvii) the aggregate Principal Balance of Mortgage Loans purchased pursuant to Section 3.18 of the Servicing Agreement for the related Payment Date and cumulatively since the Closing Date; and (xviii) the amounts paid, if any, that were repurchased with respect to the Class A-V Notes pursuant to Section 3.05 (a)(vi) or (vii) for such Payment Date. Items (iii) and (xii) above shall be presented on the basis of a Note having a $1,000 denomination. In addition, by January 31 of each calendar year following any year during which the Servicer or Notes are outstanding, the Seller in such period. (b) The Indenture Trustee will make available each month shall furnish a report to each Noteholder of record if so requested in writing at any time during each calendar year as to the statements referred aggregate of amounts reported pursuant to in Section 5.9(a(iii) above and (and certain other documents, reports and information regarding xii) with respect to the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture TrusteeNotes for such calendar year. The Indenture Trustee will make no representation or warranties as to in the accuracy or completeness absence of such documents, reports and information regarding manifest error may conclusively rely upon the Receivables Determination Date Report provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by Master Servicer pursuant to Section 4.01 of the Indenture Trustee from time to time Servicing Agreement in writing its preparation of its Statement to the Noteholders. In connection with providing access Noteholders pursuant to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate7.05.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee shall make available to each Noteholder Payment Date and any other date for distribution of record a statement setting forth at least the following information as any payments with respect to the Notes then Outstanding, the Trustee shall deliver a report, covering the information set forth in Exhibit B and prepared by the Issuer, giving effect to the extent such information has been received from the Servicer pursuant payments (each, a “Distribution Report”), to Section 4.9 hereof: (i) each Noteholder and Beneficial Holder that has executed and delivered to the amount of such distribution allocable to principal of each Class of Notes; Registrar a Confidentiality Agreement and (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if anyCalculation Agent, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such periodto no other Person. (b) The Indenture Trustee will make available each month Each Distribution Report provided to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided Beneficial Holder by the Servicer from time Trustee for each Payment Date pursuant to timeSection 2.13(a), commencing June 15, 2017, or other date for distribution of payments on the Notes, shall be accompanied by (i) via the Indenture Trustee’s internet website, with the use of a password provided statement prepared by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to Issuer setting forth an analysis of the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable Collection Account activity for the dissemination of period commencing the day next following the preceding Calculation Date and ending on the Calculation Date relating to such Payment Date, (ii) the Collection Account Certification and (iii) any other information in accordance with this Agreement. The Indenture Trustee that the Issuer shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the Trustee pursuant to Section 5.2 during the Interest Accrual Period then current Noteholders. The Indenture ended, which information shall be treated confidentially pursuant to the terms of the Confidentiality Agreement. (c) After the end of each calendar year but not later than the latest date permitted by Applicable Law, the Trustee shall provide notification (or shall instruct any Paying Agent to) furnish to each Person who at any time during such calendar year was a Noteholder of Notes a statement (for example, a Form 1099 or any other means required by Applicable Law) prepared by the Trustee containing the sum of the amounts determined pursuant to the information covered by Exhibit B with respect to the Notes for such change calendar year or, in the event such Person was a Noteholder of Notes during only a portion of such calendar year, for the applicable portion of such calendar year, and such other items as are readily available to all parties entitled the Trustee and that a Noteholder shall reasonably request as necessary for the purpose of such Noteholder’s preparation of its U.S. federal income or other tax returns. So long as any of the Notes are registered in the name of the Depositary or its nominee, such report and such other items will be prepared on the basis of such information supplied to receive such statements the Trustee by the Depositary and the Agent Members and will be delivered by the Trustee to the Depositary and by the Depositary to the applicable Beneficial Holders in the manner described above. In the event that any such information has been provided by any Paying Agent directly to such Person through other tax- related reports or otherwise, the Trustee in its capacity as Paying Agent shall not be obligated to comply with such request for information. (d) At such time, if any, as the Notes are issued in the form of Definitive Notes, the Trustee shall prepare and deliver the information described in Section 12.3 hereof, Section 11.4 2.13(c) to each Noteholder of a Definitive Note for the relevant period of registered ownership of such Definitive Note as appears on the books and records of the Indenture or Section 11.5 Trustee. (e) The Trustee shall be at liberty to sanction any method of giving notice to the Noteholders if, in its opinion, such method is reasonable, having regard to the number and identity of the IndentureNoteholders and/or market practice then prevailing, is in the best interests of the Noteholders, and any such notice shall be deemed to have been given on such date as appropriatethe Trustee may approve; provided, that such notice shall be given only to Noteholders that have executed and delivered to the Registrar a Confidentiality Agreement and notice of such method is given to the Noteholders in a manner consistent with the provisions of Section 6.2(c).

Statements to Noteholders. (a) On or prior to each Distribution Payment Date, the Indenture Trustee shall prepare and make available to each Noteholder Holder of record the Class A Notes, the Note Insurer and the Pool Insurer, a statement setting forth at least the following information as to the Notes to the extent payments made on such information has been received from the Servicer pursuant to Section 4.9 hereofPayment Date setting forth: (i) the amount of the payment made on such distribution Payment Date to the Holders of the Class A Notes allocable to principal principal, and the amount of each payment made on such Payment Date to the Holders of the Class of NotesA Notes allocable to Prepayment Charges; (ii) the amount of the payment made on such distribution Payment Date to the Holders of the Class A Notes allocable to interest on or with respect to each Class of Notesinterest; (iii) the required Reserve Account Withdrawal Amount aggregate Servicing Fee received by the Master Servicer during the related Due Period and such other customary information as the Indenture Trustee deems necessary or any excess released from the Reserve Account and included in Available Fundsdesirable, or which a Noteholder reasonably requests, to enable Noteholders to prepare their tax returns; (iv) the Pool aggregate amount of Advances for such Payment Date; (v) the aggregate Stated Principal Balance of the Mortgage Loans and any REO Properties as of the close of business on such Payment Date; (vi) the number, aggregate Stated Principal Balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the Mortgage Loans as of the related Due Date; (vii) the number and aggregate unpaid Stated Principal Balance of Mortgage Loans (a) delinquent 30-59 days, (b) delinquent 60-89 days, (c) delinquent 90 or more days in each case, as of the last day of the preceding calendar month, (d) as to which foreclosure proceedings have been commenced and (e) with respect to which the related Mortgagor has filed for protection under applicable bankruptcy laws, with respect to whom bankruptcy proceedings are pending or with respect to whom bankruptcy protection is in force; (viii) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number of such Mortgage Loan, the unpaid Stated Principal Balance and the Stated Principal Balance of such Mortgage Loan as of the date it became an REO Property; (ix) the book value and the Stated Principal Balance of any REO Property as of the close of business on the last day Business Day of the calendar month preceding Collection the Payment Date; (x) the aggregate amount of Principal Prepayments made during the related Prepayment Period; (vxi) the aggregate outstanding principal amount of Realized Losses incurred during the related Prepayment Period (or, in the case of Bankruptcy Losses allocable to interest, during the related Due Period), separately identifying whether such Realized Losses constituted Bankruptcy Losses and the aggregate amount of Realized Losses incurred since the Closing Date and the aggregate amount of Subsequent Recoveries received during the related Due Period and the aggregate amount of Subsequent Recoveries received since the Closing Date; (xii) the aggregate amount of Expenses withdrawn from the Collection Account or the Payment Account for such Payment Date; (xiii) the aggregate Note Balance of each Class of Class A Notes, after giving effect to the Notes and payments made on such Payment Date; (xiv) the Note Pool Factor Rate for each such Class after giving effect of Class A Notes applicable to payments allocated to principal reported under (i) abovesuch Payment Date; (vixv) the amount Interest Distribution Amount in respect of the Servicing Fee paid to Class A Notes for such Payment Date and the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Available Funds Carryover Amount, if any, and with respect to the change in that amount from the preceding statementClass A Notes on such Payment Date; (viiixvi) the aggregate amount of any Prepayment Interest Shortfall for such Payment Date, to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e); (xvii) the aggregate amount of Relief Act Interest Shortfalls for such Payment Date; (xviii) the Overcollateralization Target Amount for such Payment Date; (xix) the Overcollateralization Increase Amount, if any, for such Payment Date; (xx) the Overcollateralization Reduction Amount, if any, for such Payment Date; (xxi) with respect to any Mortgage Loan as to which foreclosure proceedings have been concluded, the loan number and unpaid Stated Principal Balance of such Mortgage Loan as of the date of such conclusion of foreclosure proceedings; (xxii) with respect to Mortgage Loans as to which a Final Liquidation has occurred, the number of Mortgage Loans, the unpaid Stated Principal Balance of such Mortgage Loans as of the date of such Final Liquidation and the amount of proceeds (including Liquidation Proceeds and Insurance Proceeds) collected in respect of such Mortgage Loans; (xxiii) whether a Trigger Event is in effect; (xxiv) the amount of any Net Swap Payment; (xxv) the amount of any Swap Termination Payment; (xxvi) the amount of any Insured Amount for such Payment Date, separately identifying the portion of such payment allocable to interest and principal; (xxvii) the amount of any proceeds received pursuant to the Pool Insurance Policy; (xxviii) the amount of any Pool Insured Reimbursement Amount for such Payment date and the amount received by the Pool Insurer in respect thereof on such Payment Date, and (xxix) the amount of the aggregate Realized Losses, if any, for Note Insurer Reimbursement Amount and the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased amount received by the Servicer or Note Insurer in respect thereof on such Payment Date. With respect to the Seller items described in such period. (bv), (vi), (vii), (viii), (x), (xi) The and (xxii) above, the Indenture Trustee will make available shall set forth such information with respect to each month Loan Group and with respect to the Mortgage Pool. Items (i) and (ii) above shall be presented on the basis of a Note having a $1,000 denomination. In addition, by January 31st of each calendar year following any year during which the Notes are outstanding, the Indenture Trustee shall furnish a report to each Noteholder of record if so requested in writing at any time during each calendar year as to the statements referred aggregate of amounts reported pursuant to in Section 5.9(a(i) above and (and certain other documents, reports and information regarding ii) with respect to the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture TrusteeNotes for such calendar year. The Indenture Trustee will make no representation or warranties as such statement (and, at its option, any additional files containing the same information in an alternative format) available each month to the accuracy or completeness of such documentsNoteholders, reports the Note Insurer, the Pool Insurer, the Master Servicer and information regarding the Receivables provided by Rating Agencies via the ServicerIndenture Trustee's internet website. The Indenture Trustee’s 's internet website shall initially be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall https:\\xxx.xxx.xx.xxx/xxxx. Assistance in using the website can be specified obtained by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to calling the Indenture Trustee’s internet website, 's investor relations desk at (800) 735-7777. Parties that are unable to use the Indenture Trustee may require registration above delivery options are entitled to have a paper copy mailed to them via first class mail by calling the investor relations desk and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreementindicating such. The Indenture Trustee shall have the right to change the way the such statements referred to in Section 5.9(a) above are distributed in order to make such distribution payment more convenient and/or more accessible to the above parties entitled and the Indenture Trustee shall provide timely and adequate notification to receive all above parties regarding any such statements so long as changes. Notwithstanding the way such statements are only distributed as provided above, the Indenture Trustee shall transmit by electronic mail to the then current NoteholdersNote Insurer no later than the Payment Date, such statements for such Payment Date. The Indenture Trustee shall, upon request, furnish to each Noteholder or Note Owner, the Note Insurer, the Pool Insurer and the Owner Trustee, during the term of this Agreement, such periodic, special, or other reports or information, whether or not provided for herein, as shall be reasonable with respect to the Noteholder or Note Owner, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided at the expense of the Noteholder or Note Owner in accordance with such reasonable and explicit instructions and directions as the Noteholder or Note Owner may provide. For purposes of this Section 4.02, the Indenture Trustee's duties are limited to the extent that the Indenture Trustee receives timely reports as required from the Master Servicer. On each Payment Date the Indenture Trustee shall provide notification Bloomberg Financial Markets, L.P. ("Bloomberg") CUSIP level factors for each Class of any Class A Notes as of such change Payment Date, using a format and media mutually acceptable to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriateTrustee and Bloomberg.

Statements to Noteholders. (a) On or prior Pursuant to each Distribution DateSection 4.01, the Master Servicer shall deliver to the Indenture Trustee shall make available the data necessary to each Noteholder of record prepare a statement setting forth at least (the following “Monthly Statement”) for each Payment Date with the information as in Exhibit D. Such statement shall be based solely on the information provided to the Notes to Indenture Trustee by the extent such information has been received from the Master Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and sentence upon which information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time may conclusively rely. If the Monthly Statement is not accessible to time in writing to any of the Noteholders. In connection with providing access to , the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee’s internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee’s internet website. The address of the Indenture Trustee’s internet website where the Monthly Statement will be accessible is hxxxx://xxx.xxxxxxxx.xxx. Assistance in using the Indenture Trustee’s internet website may require registration and be obtained by calling the acceptance of a disclaimerIndenture Trustee’s customer service desk at (000) 000-0000. The Indenture Trustee shall not be liable notify each Noteholder, the Credit Enhancer, the Master Servicer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (5), (6), (7) and (8) of the Monthly Statement aggregated for the dissemination year. This requirement of the Master Servicer shall be satisfied if substantially comparable information in accordance with this Agreementis provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall have prepare (in a manner consistent with the right treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to change be filed or furnished to Noteholders for payments by the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee (or the Paying Agent) on the Notes and shall provide notification of any file and distribute such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, forms as appropriaterequired by law.

Statements to Noteholders. (a) On or prior to each Distribution Datethe Determination Date (in accordance with Section 4.9), the Indenture Trustee Servicer shall make available provide to each Noteholder the Trustee, the Note Purchasers and the Noteholders on the related Record Date a copy of record a statement the Servicer's Certificate setting forth at least the following information as to the Notes to the extent such information has been received from applicable in the Servicer pursuant to Section 4.9 hereofform attached hereto as EXHIBIT A: (i) the amount of such distribution allocable to principal of each Class class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Aggregate Principal Balance as of the close of business on the last day of the preceding Collection Accrual Period; (viv) the aggregate outstanding principal amount of each Class of the Notes A Invested Amount and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) aboveB Invested Amount; (viv) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but Accrual Period, and the amount of any unpaid Servicing Fees and the change in such amount from the prior Settlement Date; (A) the amount of each of the Backup Servicing Fee and the Trustee Fee paid to the Backup Servicer and the Trustee as applicable, with respect to the related Accrual Period, (B) the amount of any unpaid Backup Servicing Fees and Trustee Fees and the change in such Collection Period or amounts from the prior Collection PeriodsSettlement Date, (C) the amount of all expenses paid to the Trustee and the Backup Servicer, with respect to the related Accrual Period, and (D) the difference between the maximum per annum amount payable to the Trustee and Backup Servicer in respect of expenses (other than servicing transition expenses) as set forth in Section 5.7(a)(i) and the case may beamount paid to the Backup Servicer and Trustee year-to-date (to and including the related Settlement Date) in respect of such expenses; (vii) the Class A Noteholders’ ' Interest Carryover AmountShortfall, the Class A Noteholders' Principal Carryover Shortfall, the Class B Noteholders' Interest Carryover Shortfall, and the Class B Noteholders' Principal Carryover Shortfall, if any, and the change in that amount from the preceding statement; (viii) the number of Receivables and the aggregate gross amount scheduled to be paid thereon, including unearned finance and other charges, for which the related Obligors are delinquent in making Scheduled Receivable Payments for (a) 31 to 45 days and (b) 46 days or more, in each case as of the last day of the related Accrual Period; (ix) the amount of the aggregate Realized Losses, if any, for the related Collection Accrual Period; and; (ixx) the number of, and the aggregate Purchase Amounts for for, Receivables, if any, that were repurchased during the related Interest Period and summary information as to losses and delinquencies with respect to the Receivables as of the end of the related Accrual Period; (xi) the amount of any Texas Franchise Tax due and owing by the Issuer to the taxing authority of the State of Texas on or prior to the related Settlement Date or paid by the Servicer or on behalf of the Seller in such periodIssuer since the prior Settlement Date; (xii) the cumulative amount of Realized Losses from the initial Cutoff Date to the last day of the related Accrual Period; and (xiii) the Servicer Delinquency Ratio as of the end of the related Accrual Period and the Servicer Loss Ratio as of the related Determination Date. (b) The Indenture Within 60 days after the end of each calendar year, commencing February 28, 2007, the Servicer shall deliver to the Trustee, and the Trustee will make available each month shall, provided it has received the necessary information from the Servicer, promptly thereafter furnish to each Noteholder (a) a report (prepared by the statements referred Servicer) as to in the aggregate of the amounts reported pursuant to subclauses (i), (ii), (v) and (vi) of Section 5.9(a) above for such preceding calendar year, and (b) such information as may be reasonably requested by any Noteholder or required by the Code and certain other documentsregulations thereunder, reports to enable such Noteholder to prepare its Federal and State income tax returns. The obligation of the Trustee set forth in this paragraph shall be deemed to have been satisfied to the extent that substantially comparable information regarding the Receivables shall be provided by the Servicer from time to timesuch Noteholder pursuant to any requirements of the Code. (c) The Trustee may make available to the Note Purchasers and the Noteholders via the Indenture Trustee’s internet website's Internet Website, all statements described herein and, with the consent or at the direction of the Seller, such other information regarding the Notes and/or the Receivables as the Trustee may have in its possession, but only with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports documents accurately posted and information regarding the Receivables provided by the Servicerwill assume no responsibility therefor. The Indenture Trustee’s internet website 's Internet Website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx XXX.XXXXXXX.XXX or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the NoteholdersNoteholders and the Note Purchasers. In connection with providing access to the Indenture Trustee’s internet website's Internet Website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee shall make available include with each distribution to each Noteholder of record as of the related Record Date, a statement statement, prepared by the Servicer, based on the information in the Distribution Date Statement furnished pursuant to Section 3.09, setting forth at least for such Distribution Date the following information as to of the Notes to related Record Date or such Distribution Date, as the extent such information has been received from the Servicer pursuant to Section 4.9 hereofcase may be: (i) the amount of such distribution allocable to principal of (stated separately for each Class of Notes), separately identifying the aggregate amount included therein of any (i) Full Prepayments of principal on Precomputed Contracts and (ii) Full Prepayments and partial prepayments of principal on Simple Interest Contracts; (ii) the amount of such distribution allocable to interest on or with respect to (stated separately for each Class of Notes); (iii) the required Reserve Account Withdrawal Note Distributable Amount or any excess released from the Reserve Account and included in Available Fundsfor such Distribution Date; (iv) the Pool Balance as of Premium payable to the close of business on the last day of the preceding Collection PeriodInsurer; (v) the aggregate outstanding principal amount of each Class of to be on deposit in the Notes Spread Account on such Distribution Date, before and the Note Pool Factor for each such Class after giving effect to payments allocated deposits thereto and withdrawals therefrom to principal reported under (i) abovebe made in respect of such Distribution Date; (vi) the amount of the Servicing Fee withdrawal, if any, required to be made from the Spread Account by the Indenture Trustee, specifying as to whether such amount is to be (A) deposited into the Payment Account, (B) paid to the Servicer with respect Insurer or (C) deposited into the Note Distribution Account for distribution to the related Collection Period and/or due but unpaid with respect holders of the Residual Interests pursuant to such Collection Period or prior Collection Periods, as the case may be;Section 4.04; -58- 63 (vii) the Noteholders’ Interest Carryover Amount, if any, and aggregate Servicing Fee with respect to the change in that amount from Contracts for the preceding statementrelated Collection Period; (viii) the amount of fees paid to the Owner Trustee, the Trust Agent and the Indenture Trustee, with respect to the related Collection Period; (ix) the amount of any Note Interest Carryover Shortfall and Note Principal Carryover Shortfall on such Distribution Date and the change in such amounts from those with respect to the immediately preceding Distribution Date; (x) the number of, and aggregate Realized Lossesamount of, monthly principal and interest payments due on the Contracts which are delinquent as of the end of the related Collection Period presented on a 30-day, 60-day and 90-day basis; (xi) the Net Collections and the Policy Claim Amount, if any, for such Distribution Date; (xii) the related aggregate amount of Liquidation Proceeds received for Defaulted Contracts; (xiii) the net credit losses and Cram Down Losses for the Collection Period; (xiv) the number and net outstanding balance of Contracts for which the Financed Vehicle has been repossessed; (xv) the Pool Balance and the Note Pool Factor for each Class of Notes as of such Distribution Date after giving effect to the distribution made on such Distribution Date; (xvi) on each Distribution Date occurring during and immediately following the end of the Funding Period, the amount on deposit in each of the Prefunding Account and the Capitalized Interest Account on such Distribution Date, before and after giving effect to withdrawals therefrom to be made in respect of such Distribution Date; (xvii) on each Distribution Date occurring during and immediately following the end of the Funding Period, the amounts of investment earnings and other amounts transferred from the Prefunding Account and the amounts transferred from the Capitalized Interest Account to the Payment Account; and (ixxviii) on the aggregate Purchase Amounts for ReceivablesDistribution Date immediately following the end of the Funding Period, if any, that were repurchased by the Servicer Mandatory Partial Redemption Amount. Each amount set forth pursuant to subclauses (i) or the Seller in such period(ii) above shall be expressed as a dollar amount per $1,000.00 of original principal amount of a Note. (b) The Indenture Trustee will make available Within a reasonable period of time after the end of each month to each Noteholder calendar year, but not later than the statements referred to in Section 5.9(a) above (and certain other documentslatest date permitted by law, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as shall prepare and furnish to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet websiteIssuer, the Indenture Trustee may require registration and each Paying Agent, and the acceptance Paying Agent for the Notes and the Paying Agent for the Residual Interest Instruments shall furnish to each Person who on any Record Date during such calendar year shall have been a Holder of a disclaimer. The Indenture Trustee shall not be liable Note or a Residual Interest Instrument, respectively, a statement or statements containing the sum of the amounts set forth in clauses (i) and (ii) above for such calendar year and such other information as is reasonably necessary for the dissemination preparation of information such Person's federal income tax return in accordance with this Agreement. The Indenture Trustee respect of the Notes or Residual Interest Instruments or, in the event such Person shall have been a Holder of a Note or a Residual Interest Instrument during a portion of such calendar year, for the right to change applicable portion of such year, for the way the statements referred to in Section 5.9(a) above are distributed in order to make purposes of such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification Noteholder's or Residual Interestholder's preparation of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriatefederal income tax returns.

Statements to Noteholders. (ai) On or prior to each Distribution Determination Date preceding a Quarterly Payment Date, the Administrator shall provide to the Indenture Trustee shall make available (with a copy to the Rating Agencies) for the Indenture Trustee to forward on such succeeding Quarterly Payment Date to each Noteholder of record a statement substantially in the form of Exhibit B setting forth at least the following information as to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofNotes: (iA) the amount of such distribution allocable to principal of each Class the Notes, the amount thereof distributable as principal of the Senior Notes and the Subordinate Notes, the amount thereof attributable to the Principal Distribution Amount and the amount thereof attributable to Reserve Account Excess; (B) the amount of the distribution allocable on such Quarterly Payment Date to interest on the Senior Notes; (iiC) the amount of the distribution allocable on such Quarterly Payment Date to interest on the Subordinate Notes; (D) the amount, if any, of such distribution allocable to interest on or any Senior Noteholders' Interest T-Xxxx Carryover and any Subordinate Noteholders' Interest T-Xxxx Carryover, together with respect to any remaining outstanding amount of each Class of Notesthereof; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (ivE) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class , after giving effect to payments allocated to principal reported under clause (iA) above; (viF) the aggregate outstanding principal balance of the Senior Notes and the Subordinate Notes, the Senior Note Pool Factor and the Subordinate Note Pool Factor as of such Quarterly Payment Date, after giving effect to payments allocated to principal reported under clause (A) above; (G) the Note Rate applicable with respect to each distribution referred to in clauses (B) and (C) above, indicating whether such interest rate was calculated based on the Student Loan Rate or based on the T-Xxxx Rate, and specifying what each such Note Rate would have been using the alternate basis for such calculation; (H) the amount of the Servicing Fee paid to the Servicer with respect on such Quarterly Payment Date and on each Monthly Payment Date following the immediately preceding Quarterly Payment Date including a breakdown of the components of the Servicing Fee attributable to each of the related Collection Period and/or due but unpaid with respect to items specified in clauses II(i) through (ix) of Section 3.06 of the Servicing Agreement and the amount of any Servicing Fee Shortfall for such Collection Period or prior Collection Periods, as Quarterly Payment Date and for each Monthly Payment Date following the case may beimmediately preceding Quarterly Payment Date; (viiI) the Noteholders’ Interest Carryover Amount, if any, amount of the Administration Fee paid to the Administrator on such Quarterly Payment Date and on each Monthly Payment Date following the change in that amount from the immediately preceding statementQuarterly Payment Date; (viiiJ) the amount of the aggregate Realized Losses, if any, for such Collection Period and the balance of Financed Student Loans that are delinquent in each delinquency period as of the end of such Collection Period; (K) the balance of the Reserve Account on such Quarterly Payment Date, after giving effect to changes therein on such Quarterly Payment Date and indicating whether on such Quarterly Payment Date or any Monthly Payment Date since the preceding Quarterly Payment Date any withdrawal was made therefrom pursuant to Section 2(e)(iv), the amount of each such withdrawal and the purpose(s) pursuant to Section 2(e)(iv) for each such withdrawal; (L) for Quarterly Payment Dates during the Revolving Period, the amount deposited into the Collateral Reinvestment Account during the related Collection Period and on the immediately preceding Quarterly Payment Date, and the amount on deposit therein after giving effect to changes therein on such Quarterly Payment Date; (M) for the Quarterly Payment Date on or immediately following the end of the Revolving Period, the amount remaining on deposit in the Collateral Reinvestment Account that has not been used to make Additional Fundings; (i) the principal balance and number of Consolidation Loans originated on behalf of the Issuer during the related Collection Period, (ii) the principal balance and number of Add-on Consolidation Loans the principal balances of which have been added to the Trust during the related Collection Period and (iii) the amount withdrawn from the Collateral Reinvestment Account to prepay Student Loans not held by the Issuer that were consolidated through such origination (or addition, in the case of Add-on Consolidation Loans) with one or more Financed Student Loans during such Collection Period; (O) the principal balance and number of Serial Loans conveyed to the Issuer during the related Collection Period, the aggregate Loan Purchase Amount thereof and the portion thereof attributable to Purchase Premium Amounts; (P) for Quarterly Payment Dates during the Revolving Period, the principal balance and number of New Loans conveyed to the Issuer during the related Collection Period, the aggregate Loan Purchase Amount thereof and the portion thereof attributable to Purchase Premium Amounts; and (ixQ) the aggregate Purchase Amounts for Receivables, if anynumber and principal balance of Financed Student Loans as of the end of the related Collection Period, that were repurchased are In-School, Grace, Repayment, Deferral, Forbearance or Consolidation Loans as of the of the related Collection Period, and a breakdown by the Servicer or the Seller in such period. number and principal balance of Financed Student Loans, by school type, interest rate and loan program. Each amount set forth pursuant to clauses (bA), (B), (C) The Indenture Trustee will make available each month to each Noteholder and (D) above shall be expressed as a dollar amount per $1,000 of original principal balance of a Note. A copy of the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided may be obtained by the Servicer from time any Note Owner by a written request to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing addressed to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriateCorporate Trust Office.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee Trust Collateral Agent shall make available to each Noteholder of record a statement setting forth at least the following information as to the Notes solely to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount and the Noteholders’ Principal Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related second preceding Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee Trust Collateral Agent will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture TrusteeTrust Collateral Agent’s internet website, with the use of a password provided by the Indenture TrusteeTrust Collateral Agent. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture TrusteeTrust Collateral Agent’s internet website shall will be initially located at xxxx://xx.xxxxxxxxxx.xxx xxx.XXXXxxx.xxx or at such other address as the Trust Collateral Agent shall be specified by notify the Indenture Trustee Noteholders from time to time in writing time. For assistance with regard to this service, Noteholders can call the Noteholders. In connection with providing access to the Indenture TrusteeTrust Collateral Agent’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimerCorporate Trust Office at (000) 000-0000. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee Trust Collateral Agent shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee Trust Collateral Agent shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate. ARTICLE VI [Reserved]

Statements to Noteholders. (a) On or If the Servicer has delivered the Monthly Statement on the preceding Determination Date, then on each Payment Date, the Servicer will forward such Monthly Statement to the Indenture Trustee. Not later than two Business Days prior to each Distribution such Payment Date, the Indenture Trustee shall make available will mail to each Noteholder of record the Rating Agencies a statement (which statement will be prepared by the Servicer furnished to the Indenture Trustee in the Monthly Statement delivered pursuant to Section 4.07 of the Servicing Agreement or otherwise pursuant to this Indenture), setting forth at least the following information (per $1,000 of the Initial Class A Note Principal Amount or the Initial Class B Note Principal Amount (as the case may be) as to (i) and (ii) below): (i) With respect to a statement to a Class A Noteholder or a Class B Noteholder, the Notes amount of such payment allocable to such Noteholder's Percentage Interest of the extent Class A Principal Payment Amount or Class B Principal Payment Amount, as applicable; (ii) With respect to a statement to a Noteholder, the amount of such information has been payment allocable to such Noteholder's Percentage Interest of Class A-1, Xxxxx X-0, xx Class B Note Interest, as applicable; (iii) The aggregate amount of fees and compensation received from by the Servicer pursuant to Section 4.9 hereof: (i) 3.05 hereof for the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available FundsCollection Period; (iv) The aggregate Class A Note Principal Balance (and, individually, the Class A-1 Note Principal Balance and the Class A-2 Note Principal Balance), the aggregate Class B Note Principal Balance, the Class A Percentage, the Class B Percentage, the Class A Note Factor, the Class B Note Factor, the Pool Balance as of Factor and the close of business Aggregate Discounted Contract Balance, after taking into account all distributions made on the last day of the preceding Collection Periodsuch Payment Date; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the The total unreimbursed Servicer Advances with respect to the related Collection Period and/or due but unpaid with respect to such Period; (vi) The amount of Defaulted Contract Recoveries for the related Collection Period or prior and the Aggregate Discounted Contract Balances for all Contracts that became Defaulted Contracts during the related Collection Periods, as the case may bePeriod; (vii) The total number of Contracts and the Noteholders’ Interest Carryover AmountAggregate Discounted Contract Balances thereof, if anytogether with the number and Aggregate Discounted Contract Balances of all Contracts as to which the Obligors, as of the related Calculation Date, have missed one, two, three or four Scheduled Payments (including Final Scheduled Payments), and the change in that amount from the preceding statement;Delinquent Contracts reconveyed; and (viii) The amount on deposit in the amount Pre-Funding Account, the Capitalized Interest Account, the Reserve Account, the Supplemental Interest Reserve Account and the Letter of the aggregate Realized LossesCredit Deposit Account, if any, for in each case after giving effect to all deposits and withdrawals from such accounts on the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such periodPayment Date. (b) By January 31 of each calendar year, commencing January 31, 2001, or as otherwise required by applicable law, the Indenture Trustee shall furnish to each Person who at any time during the immediately preceding calendar year was a Noteholder a statement prepared by the Servicer, and delivered to the Indenture Trustee, containing the applicable aggregate amounts distributed with respect to such Noteholder hereof for such calendar year or, in the event such Person was 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. In addition to the foregoing the Servicer and the Indenture Trustee (to the extent the Servicer has provided the necessary information to the Indenture Trustee) shall make available to Noteholders any other information provided to the Servicer or the Indenture Trustee or otherwise in the Indenture Trustee's possession reasonably requested by Noteholders in connection with tax matters, in accordance with the written directions of the Servicer. (c) [Reserved] (d) The Indenture Trustee will make available each month shall promptly send to each Noteholder and to the statements referred to Rating Agencies in Section 5.9(awriting: (i) above (Notice of any breach by SierxxXxxxxx.xxx, xxe Depositor, the Trust, any Seller or the Servicer of any of their respective representations, warranties and certain other documentscovenants made herein, reports and information regarding the Servicing Agreement or in the Receivables provided by the Transfer Agreement. (ii) A copy of each Servicer from time quarterly compliance statement delivered to time) via the Indenture Trustee’s internet website, with Trustee pursuant to Section 4.09 of the use Servicing Agreement; (iii) Notice of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified any breach by the Indenture Trustee from time to time of its representations and warranties set forth in writing Section 7.17 hereof of which a Responsible Officer has actual knowledge; (iv) Notice of the occurrence of any Event of Default (which shall also be given to the Noteholders. In connection with providing access to Rating Agencies); (v) Notice of any Event of Servicing Termination, or any other default under any of the Transaction Documents; and (vi) Notice of the resignation or removal of the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior to each Distribution Date, the Indenture Trustee shall will make available to each Noteholder of record [and to the Insurer] and the Rating Agencies a statement setting forth at least the following information as (which will be included in the Servicer's Certificate delivered to the Notes Indenture Trustee) to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released amount of such distribution payable out of amounts withdrawn from the Reserve Spread Account and included in Available Fundsor pursuant to a claim on the Note Policy; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) aboveSection 5.10(a)(i); (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Class A Noteholders’ ' Interest Carryover Amount, the Class B Noteholders' Interest Carryover Amount and the Class A Noteholders' Principal Carryover Amount if any, and the change in that amount from the preceding statement; (viii) the amount of Delinquency Rate with respect to such Distribution Date; (ix) the aggregate Realized Losses, if any, for the related Collection PeriodNet Loss Rate and Cumulative Net Loss Ratio with respect to such Distribution Date; and (ixx) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by Triad or the Servicer on or prior to the Seller in such periodrelated Determination Date. Each amount set forth pursuant to Section 5.10(a)(i), (ii), (iii), (vi) and (vii) will be expressed as a dollar amount per $1,000 of the initial principal balance of the Notes (or Class thereof). (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(a5.10(a) above (and certain other documentsand, reports and at its option, any additional files containing the same information regarding the Receivables provided by the Servicer from time to timein an alternative format) available each month via the Indenture Trustee’s 's internet website, with which is presently located at [______]. Persons that are entitled to receive such statements but are unable to use the use of above website are entitled to have a password provided paper copy mailed to them via first class mail by calling the Indenture TrusteeTrustee at [_______]. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a5.10(a) above are distributed in order to make such distribution more convenient and/or more accessible to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholdersstatements. The Indenture Trustee shall will provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof12.3, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriate.

Statements to Noteholders. (a) On or prior With respect to each Distribution Collection Period, the Issuer shall, not later than the last Business Day before the Payment Date immediately following the last day of such Collection Period, cause the Administrator to deliver to the Indenture Trustee, and the Indenture Trustee shall (or shall instruct any Paying Agent to) promptly thereafter (but not later than such Payment Date) make available on the Indenture Trustee’s internet website, initially located at xxxxx://xxxxx.xxxxxx.xxx, to the Rating Agency, each Hedge Provider and each Liquidity Facility Provider, and to each Noteholder of record with respect to such Payment Date, a report, substantially in the form attached as Exhibit C-1 hereto prepared by the Administrator or Servicer and setting forth the information described therein (each, a “Monthly Report”). Beginning in June of 2023, the Issuer shall cause the Administrator or Servicer to deliver to the Indenture Trustee with the Monthly Report for each June, and the Indenture Trustee shall (or shall instruct any Paying Agent to) make available at its internet website with the Monthly Report for each June to the Persons described in the first sentence in this Section 2.13(a), a report, substantially in the form attached as Exhibit C-2 hereto prepared by the Administrator or Servicer and setting forth the information described therein (each, an “Annual Report”). As soon as practicable following receipt, the Indenture Trustee shall (or shall instruct any Paying Agent to) make available to each Noteholder of record a statement setting forth at least the following information as time of such posting at its internet website the Green Bond Report delivered by the Administrator pursuant to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereof: (i) the amount of such distribution allocable to principal of each Class of Notes; (ii) the amount of such distribution allocable to interest on or with respect to each Class of Notes; (iii) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account and included in Available Funds; (iv) the Pool Balance as of the close of business on the last day of the preceding Collection Period; (v) the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid with respect to such Collection Period or prior Collection Periods, as the case may be; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viii) the amount of the aggregate Realized Losses, if any, for the related Collection Period; and (ix) the aggregate Purchase Amounts for Receivables, if any, that were repurchased by the Servicer or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of a password provided by the Indenture TrusteeAdministrative Services Agreement. The Indenture Trustee will shall also make no representation available at its internet website, promptly upon written request, a copy of each Monthly Report and Annual Report to any Noteholder or warranties as other Secured Party and, at the written request of any Noteholder, to any prospective purchaser of any Notes from such Noteholder. If any Series of Notes is then listed on any stock exchange, the Indenture Trustee also shall make available at its internet website a copy of each Monthly Report and each Annual Report to the accuracy or completeness applicable listing agent on behalf of such documents, reports and information regarding the Receivables provided by the Servicerstock exchange. The Indenture Trustee’s internet Trustee may change its website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address from time to time as shall be specified by the Indenture Trustee from time to time in writing to the NoteholdersIssuer, the Noteholders and the Rating Agency. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Master Indenture. (b) After the end of each calendar year but not later than the latest date permitted by law, the Administrator or Servicer shall deliver to the Indenture Trustee, and the Indenture Trustee shall have (or shall instruct any Paying Agent to) furnish to each Person who at any time during such calendar year was a Noteholder of record of any Notes, a statement (for example, a Form 1099 or any other means required by law) prepared by the right Administrator or Servicer containing such information as is required to change be provided to such Person for U.S. federal income tax purposes with respect to each Series of Notes for such calendar year or, in the way event such Person was a Noteholder of record of any Series during only a portion of such calendar year, for the statements referred to in Section 5.9(a) above applicable portion of such calendar year, and such other items as are distributed in order to make such distribution more convenient and/or more accessible readily available to the parties entitled to receive Administrator or Servicer and which a Noteholder shall reasonably request as necessary for the purpose of such statements so Noteholder’s preparation of its U.S. federal income or other tax returns. So long as any of the Equipment Notes are registered in the name of DTC or its nominee, such statements are only provided report and such other items will be prepared on the basis of such information supplied to the then current Noteholders. The Administrator by DTC and the Direct Participants, and will be delivered by the Indenture Trustee shall provide notification of any such change Trustee, when received from the Administrator or Servicer, to all parties entitled DTC for transfer to receive such statements the applicable beneficial owners in the manner described above. In the event that any such information has been provided by any Paying Agent directly to such Person through other tax-related reports or otherwise, the Indenture Trustee in its capacity as Paying Agent shall not be obligated to comply with such request for information. (c) At such time, if any, as the Notes of any Series are issued in the form of Definitive Notes, the Indenture Trustee shall prepare and deliver the information described in Section 12.3 hereof, Section 11.4 2.13(b) to each Noteholder of record of a Definitive Note of such Series for the period of its ownership of such Definitive Notes as the same appears on the records of the Indenture Trustee. (d) Whenever a notice or Section 11.5 other communication is required under this Master Indenture to be given to Noteholders of a Series: (i) if any Equipment Notes of such Series are registered with DTC, Euroclear and/or Clearstream, the IndentureIndenture Trustee shall give all such notices and communications to DTC, Euroclear and/or Clearstream, as appropriatethe case may be and (ii) if Definitive Notes of a Series have been issued, then the Indenture Trustee shall give notices and communications to the Noteholders of such Definitive Notes by U.S. mail to the addresses of such Noteholders in the Register.

Statements to Noteholders. (a) On or prior to each Distribution Payment Date, the Indenture Trustee shall make available a copy of the applicable Servicing Certificate delivered to the Indenture Trustee pursuant to Section 3.18 to each Noteholder of record a statement setting concurrently with each payment to Noteholders (the "Indenture Trustee's Statement to Noteholders") containing the information set forth at least the following information as below with respect to the Notes to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofPayment Date: (i) the Available Payment Amount for such Payment Date, separately stating the amount of such distribution allocable to principal of each Class of NotesInterest Collections and Principal Collections; (ii) the amount of the payments to Holders of the Class A and Class M Notes for such distribution Payment Date, separately stating the portions thereof allocable to interest on or with respect and allocable to each Class of Notesprincipal; (iii) the required Reserve Account Withdrawal amount of any Interest Carry Forward Amount and Supplemental Interest Amount for each Class paid on such Payment Date and the amount of any Interest Carry Forward Amount or any excess released from Supplemental Interest Amount for each Class remaining after giving effect to the Reserve Account and included in Available Fundspayments on such Payment Date; (iv) the Pool Balance as amount of the close of business on the last day of the preceding Collection Periodany Extra Principal Payment Amount for such Payment Date; (v) the aggregate outstanding principal amount of each Class of Principal Payment Amount for such Payment Date, separately stating the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) abovecomponents thereof; (vi) the Principal Carry Forward Amount for each Class for such Payment Date and the amount of the Servicing Fee paid any Principal Carry Forward Amount for each Class remaining after giving effect to the payments on each Payment Date; (vii) the Note Principal Amount of each Class of Notes and the Pool Factor, the Pool Balance as reported in the prior Indenture Trustee's Statement to Noteholders or, in the case of the first Determination Date, the Original Note Principal Amount of each Class and the Cut-Off Date Pool Balance; (viii) the number and aggregate Principal Balance of any Mortgage Loans purchased by the Depositor or the Master Servicer with respect to the related Collection Period and/or due but unpaid with respect pursuant to such Collection Period or prior Collection PeriodsSections 2.02, as the case may be2.04 and 3.01; (vii) the Noteholders’ Interest Carryover Amount, if any, and the change in that amount from the preceding statement; (viiiix) the amount of any Substitution Adjustment Amounts for such Payment Date; (x) the amount to be paid to the Transferor in respect of the Ownership Interest for the related Payment Date pursuant to Section 5.01(a)(xii); (xi) the Note Principal Amount of each Class of Notes and the Pool Factor after giving effect to the payment to be made on the related Payment Date; (xii) the Servicing Fee for the related Collection Period and any accrued amounts thereof that remain unpaid for previous Collection Periods; (xiii) the Overcollateralization Amount, the Interim Overcollateralization Amount, the Interim Overcollateralization Deficiency, the Overcollateralization Release Amount, the Targeted Overcollateralization Amount, and the Monthly Excess Cashflow for such Payment Date; (xiv) the number of Mortgage Loans outstanding at the beginning and at the end of the related Collection Period; (xv) the Pool Balance as of the end of the related Collection Period; (xvi) the number and aggregate Realized LossesPrincipal Balances of Mortgage Loans (x) as to which the scheduled monthly payment is contractually delinquent for 30-59 days, 60-89 days and 90 or more days, respectively and (y) that have become REO, in each case as of the end of such Collection Period; (xvii) the book value (within the meaning of 12 C.F.R. Section 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure; (xviii) whether a Trigger Event has occurred or is continuing; (xix) such other information as is required by the Code and regulations thereunder to be made available to Holders of the Class A and Class M Notes; (xx) the 60 Day Delinquency Percentage for the related Collection Period; (xxi) the 60 Day+ Rolling Average for such Payment Date; (xxii) LIBOR for such Payment Date; (xxiii) whether a Master Servicer Termination Event has occurred since the prior Determination Date, specifying each such Master Servicer Termination Event if anyone has occurred; (xxiv) whether an Event of Default has occurred and is continuing; (xxv) the Class A Formula Rate, the Class A Note Rate, the Class M Formula Rate, the Class M Note Rate and the Available Funds Cap for such Payment Date; (xxvi) the amount of any Skip-A-Pay Advances for the related Collection Period; and (ixxxvii) the aggregate Purchase Amounts Skip-A-Pay Reimbursement Amount for Receivablessuch Payment Date. In the case of information furnished pursuant to clauses (ii) and (iii) above, if anythe amounts shall be expressed, in a separate section of the report, as a dollar amount per Class A Note or Class M Note, as applicable, for each Note for each $1,000 original dollar amount as of the Cut-Off Date. To the extent that were repurchased by there are inconsistencies between the Servicer or the Seller in such period. (b) The Indenture Trustee will make available each month to each Noteholder the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) via telecopy of the Indenture Trustee’s internet website's Statement to Noteholders and the hard copy thereof, with the use of a password provided by the Indenture TrusteeMaster Servicer may rely upon latter. The Indenture Trustee will make no representation or warranties as the reports referred to in this section (and, at its option, any additional files containing the accuracy or completeness of such documents, reports same information in an alternative format) available each month to Noteholders and information regarding other parties to this Agreement via the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially 's website, 56 which is presently located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified xxx.xxxxxxxx.xxx/xxxxxx. Persons that are unable to use the above website are entitled to have a paper copy mailed to them via first class mail by calling the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreementat (000) 000-0000. The Indenture Trustee shall have the right to change the way the statements reports referred to in Section 5.9(a) above this section are distributed in order to make such distribution more convenient and/or more accessible to the above parties entitled to receive such statements so long as such statements are only provided and to the then current Noteholders. The Indenture Trustee shall provide timely and adequate notification of to all above parties and to the Noteholders regarding any such change change. (b) The Indenture Trustee shall prepare or cause to all parties be prepared (in a manner consistent with the treatment of the Notes as indebtedness of the Trust, or as may be otherwise required by Section 3.16 herein) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders in respect of payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law. (c) Reports and computer tapes furnished by the Master Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent provided in this Agreement and to the extent required by law or to the Rating Agencies, the Depositor and to the extent the Master Servicer instructs the Indenture Trustee in writing to furnish information regarding the Trust or the Mortgage Loans to third-party information providers. No Person entitled to receive copies of such statements in reports or tapes or lists of Noteholders shall use the manner described in Section 12.3 hereof, Section 11.4 information therein for the purpose of soliciting the customers of the Indenture Seller or Section 11.5 of the Indenture, for any other purpose except as appropriate.set forth in this Agreement. 57

Statements to Noteholders. (a) On or prior to each Determination Date preceding a Distribution Date, the Administrator shall provide to the Indenture Trustee shall make available (with a copy to the Securities Insurer, the Swap Counterparty, the Eligible Lender Trustee, the Depositor and the Rating Agencies) for the Indenture Trustee to forward on such succeeding Distribution Date to each Noteholder holder of record of the Notes a statement substantially in the form of Exhibit A, setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i1) the amount of such the distribution allocable to principal of each Class of Notes; (ii2) the amount of such the distribution allocable to interest on each Class of Notes, together with the interest rates applicable with respect thereto (indicating whether such interest rates are based on the related Formula Rate or on the related Student Loan Rate and specifying what each such interest rate would have been if it had been calculated using the alternate basis; provided that no such calculation of the related Student Loan Rate will be required to be made unless the Student Loan Rate Calculation Trigger is in effect on such Distribution Date); (3) (A) the amount of any Class I-A-1 Cap Payment, Class I-A-2 Cap Payment and Class I-B Cap Payment made under the Group I Interest Rate Cap or any Class II-A-1 Cap Payment or Class II-A-2 Cap Payment made under the Group II Interest Rate Cap on such Distribution Date, and (B) the amount of the distribution, if any, allocable to any Noteholders' Interest Index Carryover with respect to each Class of Notes, as applicable, together with the outstanding amount, if any, of each thereof after giving effect to any such distribution; (iii4) the required Reserve Account Withdrawal Amount or any excess released from the Reserve Account Group I and included in Available Funds; (iv) the Group II Pool Balance as of the close of business on the last day of the preceding Collection Period, after giving effect to the related payments allocated to principal reported as described in clause (1) above; (v5) the aggregate outstanding principal amount balance of each Class of the Notes Notes, and the Note each Pool Factor for each as of such Class Distribution Date, after giving effect to related payments allocated to principal reported under clause (i1) above; (viA) the amount of the Master Servicing Fee paid to the Servicer Master Servicer, (B) the amount of the Administration Fee paid to the Administrator, in each case as allocated to the Group I Notes and the Group II Notes, and (C) the Insurer Premium, with respect to the related Collection Period and/or due but unpaid Group II Notes only, and, in each case, with respect to such Collection Period, together with the amount, if any, of the Master Servicing Fee, Administration Fee or Insurer Premium remaining unpaid after giving effect to all such payments; (7) the amount of the aggregate Realized Losses for each of the Group I and Group II Student Loans, if any, for such Collection Period and the balance of Group I and Group II Student Loans that are delinquent in each delinquency period as of the end of such Collection Period; (A) the balance of the Group I Reserve Account and the Group II Reserve Accounts on such Distribution Date, after giving effect to changes therein on such Distribution Date; (B) the amount of any Interest and Expense Draw on such Distribution Date, and (C) the amount of any Realized Loss Draw on such Distribution Date, in each case with respect to the Group I and the Group II Reserve Accounts; (9) for Distribution Dates during the Funding Period, the remaining Group I Pre-Funded Amount and Group II Pre-Funded Amount on such Distribution Date, after giving effect to changes therein during the related Collection Period; (10) for the first Distribution Date on or prior Collection Periodsfollowing the end of the Funding Period, the amount of any remaining Group I Pre-Funded Amount and Group II Pre-Funded Amount that has not been used to make Additional Fundings with respect to Additional Group I or Additional Group II Student Loans, and is being paid out to the related Group I or Group II Noteholders, as the case may be; (vii11) With respect to the Group II Notes, the aggregate amount of all Guarantee Payments made by TERI that were deposited into the Group II Collection Account Subaxxxxnt, net of any amounts paid to the Depositor (for distribution to the related Seller) pursuant to Section 5.05(c)(Y)(1), and also expressed as a percentage of the Group II Initial Financed Student Loan Pool Balance; (12) the Noteholders’ Interest Carryover Amountaggregate amount, if any, due and owing to the change in that amount from Cap Provider for previous payments under the preceding statementGroup I and Group II Interest Rate Caps; (viii13) the amount of any payments received or made by the Trust under the Group I Interest Rate Swap and the Group II Interest Rate Swap on such Distribution Date, and the aggregate Realized Lossesamount, if any, for either owed to or owed by the related Collection PeriodSwap Counterparty under the Group I and/or Group II Interest Rate Swaps with respect to amounts not paid or received by the Trust on previous Distribution Dates; and (ix14) with respect to the aggregate Purchase Amounts for ReceivablesGroup II Notes only, the amount of any Insured Payments made with respect to such Distribution Date, if any, that were repurchased by the Servicer amount, if any, paid to the Securities Insurer for previously made Insured Payments on such Distribution Date or otherwise pursuant to the Seller in such period. Insurance Agreement, and the aggregate amount, if any, owing to the Securities Insurer for all unreimbursed Insured Payments made to the Trust. Each amount set forth pursuant to clauses (b1), (2), (3), (5) The Indenture Trustee will make available each month to each Noteholder and (6) above shall be expressed as a dollar amount per $1,000 of original principal balance of a Note. A copy of the statements referred to in Section 5.9(a) above (and certain other documents, reports and information regarding the Receivables provided may be obtained by the Servicer from time to time) via the Indenture Trustee’s internet website, with the use of any Note Owner by a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as to the accuracy or completeness of such documents, reports and information regarding the Receivables provided by the Servicer. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access written request to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible respectively, addressed to the parties entitled to receive such statements so long as such statements are only provided to the then current Noteholders. The Indenture Trustee shall provide notification of any such change to all parties entitled to receive such statements in the manner described in Section 12.3 hereof, Section 11.4 of the Indenture or Section 11.5 of the Indenture, as appropriaterespective Corporate Trust Office.

Statements to Noteholders. (a) On or prior With respect to each Distribution Payment Date, the Indenture Trustee Securities Administrator shall make available via the Securities Administrator's website, initially located at www.ctslink.com, to each Noteholder of record and each Certificateholder, the Dexxxxxxx, xxx Xxsuer, the Seller, the Owner Trustee, the Certificate Paying Agent and the Rating Agencies, a statement setting forth at least the following information as to the Notes Notes, to the extent such information has been received from the Servicer pursuant to Section 4.9 hereofapplicable: (i) the amount of such distribution the related payment to holders of each class of Notes allocable to principal, separately identifying (A) the aggregate amount of any principal prepayments included therein and (B) the aggregate amount of each Class all scheduled payments of Notesprincipal included therein; (ii) the amount of such distribution payment to holders of each class of Notes allocable to interest on or with respect to each Class of Notesinterest; (iii) the required Reserve Account Withdrawal Amount or any excess released from Note Principal Balance of each class of Notes after giving effect to the Reserve Account and included in Available Fundspayment of principal on such Payment Date; (iv) the Pool Balance aggregate outstanding principal balance of each class of Notes for the following Payment Date; (v) the amount of the Servicing Fee paid to or retained by the Servicers and any amounts (vi) constituting reimbursement or indemnification of the Servicers or the Master Servicer; (vii) the Note Rate for each class of Notes for such Payment Date; (viii) the amount of Advances included in the payment on such Payment Date; (ix) the cumulative amount of (A) Realized Losses and (B) Applied Realized Loss Amounts to date, in the aggregate and with respect to the Group One Mortgage Loans, the Group Two Mortgage Loans, the Group Three Mortgage Loans, the Group Four Mortgage Loans and the Group Five Mortgage Loans; (x) the amount of (A) Realized Losses and (B) Applied Realized Loss Amounts with respect to such Payment Date, in the aggregate and with respect to the Group One Mortgage Loans, the Group Two Mortgage Loans, the Group Three Mortgage Loans, the Group Four Mortgage Loans and the Group Five Mortgage Loans; (xi) the number and aggregate principal amounts of Mortgage Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure) (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, and (B) in foreclosure and delinquent (1) 31 to 60 days, (2) 61 to 90 days and (3) 91 or more days, in each case as of the close of business on the last day of the calendar month preceding Collection Period; (v) such Payment Date, in the aggregate outstanding principal amount of each Class of the Notes and the Note Pool Factor for each such Class after giving effect to payments allocated to principal reported under (i) above; (vi) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period and/or due but unpaid Group One Mortgage Loans, the Group Two Mortgage Loans, the Group Three Mortgage Loans, the Group Four Mortgage Loans and the Group Five Mortgage Loans; (xii) with respect to any Mortgage Loan that became an REO Property during the preceding calendar month, the loan number and Stated Principal Balance of such Collection Period or prior Collection PeriodsMortgage Loan as of the close of business on the Determination Date and the date of acquisition thereof, as in the case may beaggregate; (viixiii) the Noteholders’ Interest Carryover Amounttotal number and principal balance of any REO Properties as of the close of business on the related Determination Date, if any, and in the change in that amount from the preceding statementaggregate; (viiixiv) the number and amount of prepayment charges and the amount of the aggregate Realized Losses, if any, for late payment fees received during the related Collection PeriodPrepayment Period in the aggregate; and (ixxv) the number of Mortgage Loans with respect to which (i) a reduction in the Mortgage Rate has occurred or (ii) the related borrower's obligation to repay interest on a monthly basis has been suspended or reduced pursuant to the Servicemembers Civil Relief Act or the California Military and Veterans Code, as amended; and the amount of interest not required to be paid with respect to any such Mortgage Loans during the related Due Period as a result of such reductions in the aggregate Purchase Amounts and with respect to the Group One Mortgage Loans, the Group Two Mortgage Loans, the Group Three Mortgage Loans, the Group Four Mortgage Loans and the Group Five Mortgage Loans, the Available Funds on each Class of Class A Notes for Receivablessuch Payment Date and the aggregate Net Interest Shortfall on each Class of Notes for such Payment Date; Items (iii) and (iv) above shall be presented on the basis of a Note having a $1,000 denomination. In addition, by January 31 of each calendar year following any year during which the Notes are outstanding, the Securities Administrator shall furnish a report to each Noteholder of record if any, that were repurchased so requested in writing at any time during each calendar year as to the aggregate of amounts reported pursuant to (iii) and (iv) with respect to the Notes for such calendar year. The Securities Administrator may conclusively rely upon the information provided by the Master Servicer or to the Seller Securities Administrator in such period. (b) its preparation of monthly statements to Noteholders. The Indenture Trustee Securities Administrator will make the monthly statements provided for in this section (and, at its option, any additional files containing the same information in an alternative format) available each month to Noteholders, each Noteholder and each Certificateholder, the statements referred to in Section 5.9(a) above (Depositor, the Issuer, the Seller, the Owner Trustee, the Certificate Paying Agent and certain other documents, reports and information regarding the Receivables provided by the Servicer from time to time) Rating Agency via the Indenture Trustee’s internet Securities Administrator's website, with the use of a password provided by the Indenture Trustee. The Indenture Trustee will make no representation or warranties as Securities Administrator's website shall initially be located at "www.ctslink.com." Assistance in using the website can be obtained by cxxxxxx xxx Xxxxrities Administrator's customer service desk at (301) 815-6600. Parties that are unable to use the accuracy or completeness of such documents, reports website are entitlex xx xxxx x xxper copy mailed to them via first class mail by calling the Securities Administrator's customer service desk and information regarding the Receivables provided by the Servicerindicating such. The Indenture Trustee’s internet website shall be initially located at xxxx://xx.xxxxxxxxxx.xxx or at such other address as shall be specified by the Indenture Trustee from time to time in writing to the Noteholders. In connection with providing access to the Indenture Trustee’s internet website, the Indenture Trustee Securities Administrator may require registration and the acceptance of a disclaimer. The Indenture Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall have the right to change the way the monthly statements referred to in Section 5.9(a) above are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The Securities Administrator shall be entitled to receive such statements so long as such statements are only provided to rely on but shall not be responsible for the then current Noteholders. The Indenture Trustee shall provide notification content or accuracy of any such change to all information provided by third parties entitled to receive such statements for purposes of preparing the monthly statement, and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the manner described in Section 12.3 hereof, Section 11.4 part of the Indenture or Section 11.5 of the Indenture, as appropriateany other party hereto).