Common use of Statements to Securityholders Clause in Contracts

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 21 contracts

Samples: Servicing Agreement, Servicing Agreement (Ally Auto Receivables Trust 2019-4), Servicing Agreement (Ally Auto Receivables Trust 2019-4)

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Statements to Securityholders. (a) On With respect to each Distribution Payment Date, the Owner Servicer shall forward to the Indenture Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall (except as otherwise provided in the Trust Agreement) deliver forward or cause to be forwarded by mail to each Certificateholder, Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and the Indenture Trustee shall include with each distribution to each NoteholderRating Agency, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set setting forth the following information concerning as to the Certificates or Notes and Certificates, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the aggregate amount of such distribution allocable (a) Security Interest Collections with respect to principal of each class of the NotesNotes and the Certificates, (b) aggregate Security Principal Collections with respect to the Notes and the Certificates and (c) Security Collections for the related Collection Period with respect to the Notes and the Certificates; (ii) the amount of such distribution to the distribution, if any, allocable Securityholders of the Notes and the Certificates applied to interest reduce the principal balance thereof and separately stating the portion thereof in respect of the Accelerated Principal Distribution Amount and the amount to be deposited in the Funding Account on or with respect to each class of Notessuch Payment Date; (iii) [Reserved]the amount of such distribution to the Securityholders of the Notes and the Certificates allocable to interest and separately stating the portion thereof in respect of overdue accrued interest; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly PeriodCredit Enhancement Draw Amount, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (orif any, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) such Payment Date and the Principal Distributable Amount for such Distribution Dateaggregate amount of prior draws thereunder not yet reimbursed; (v) the Note aggregate Principal Balance for each class of Notes and (a) the Aggregate Note Principal Balance________ Loans, and (b) the Note Pool Factor for each class of Notes______ Loans, each (c) the _________ Loans, as of such Distribution Date after giving effect to the end of the preceding Collection Period and (d) all payments described under clause (i) aboveof the Mortgage Loans; (vi) the amount number and aggregate Principal Balances of Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-179 days and 180 or more days, respectively and (b) that have become REO, in each case as of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each end of such amounts from the preceding Distribution Collection Period; PROVIDED, HOWEVER, that such information will not be provided on the statements relating to the first Payment Date; (vii) the amount of such distribution allocable to Weighted Average Net Mortgage Rate for the Certificateholdersrelated Collection Period and the Weighted Average Net Mortgage Rate for (a) the ________ Loans, (b) the _______Loans and (c) the _________ Loans for the related Collection Period; (viii) any the Special Capital Distribution Amount and the Required Special Capital Distribution Amount, in each case as the end of the related Collection Period; and (ix) the aggregate amount of Additional Loans acquired during the previous Collection Period with amounts paid in respect of Net Principal Collections from the Funding Account; (x) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount of any remaining Carryover Loss Amount with respect to the Notes and Certificates, respectively, and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as a percentage of the sum of (a) the Cut-Off Date Pool Balance and (b) the amount by which the Pool Balance as of the latest date that the Additional Loans have been transferred to the Company exceeds the Cut-Off Date Pool Balance; (xi) any unpaid interest on the Notes and Certificates, respectively, after such Distribution Date; (xii) the aggregate Principal Balance of each Class of Notes and of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiii) the respective Security Percentage applicable to the Notes and Certificates, after application of payments made on such Payment Date; and (xiv) the amount distributed pursuant to Section 3.05(a)(xi) of the Indenture Trusteeon such Payment Date. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate with a $1,000 denomination. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Company, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the IndentureDepositor, the Trust AgreementCertificate Paying Agent and the Indenture Trustee setting forth (i) all the foregoing information, this Servicing Agreement, (ii) the Asset Representations Review Agreement or aggregate amounts required to be withdrawn from the Administration Agreement, respectively, paid Collection Account and deposited into the Payment Account on the Business Day preceding the Payment Date pursuant to Section 4.06(c); 3.03 and (ixiii) the amount of amounts (A) withdrawn from the Basic Servicing Fee paid Payment Account and deposited to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Funding Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 8.02(b) of the Trust Agreement, then to such Certificate Distribution Indenture and (B) withdrawn from the Funding Account for distribution and deposited to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Collection Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b8.02(c)(i) of the Indenture; (xxvi) information with respect to any change . The determination by the Servicer of such amounts shall, in the Asset Representations Reviewer as required by Item 1121(d)(2) absence of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchaseobvious error, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant be presumptively deemed to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time correct for tax reporting all purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee hereunder and the Owner Trustee and Indenture Trustee shall mailbe protected in relying upon the same without any independent check or verification. In addition, to each Person who at any time during such calendar year upon the Company's written request, the Servicer shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such promptly furnish information as may be required reasonably requested by the Code and applicable Treasury Regulations Company that is reasonably available to the Servicer to enable such securityholder the Company to prepare perform its federal and state income tax returnsreporting obligations.

Appears in 18 contracts

Samples: Servicing Agreement (Salomon Brothers Mortgage Securities Vii Inc), Servicing Agreement (Citigroup Mortgage Loan Trust Inc), Servicing Agreement (Icifc Secured Assets Corp)

Statements to Securityholders. (a) On each Distribution Payment Date, the Servicer shall provide to the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to furnish to each Certificateholder, Certificateholder of record and to the Indenture Trustee shall include with each distribution to forward to each NoteholderNoteholder of record a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting Certificate furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders3.10, respectively, shall comply with Regulation AB and set setting forth at least the following information concerning as to the Certificates or Securities, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the amount of such distribution allocable to principal of each class of Record Date, the NotesDetermination Date and the Collection Period; (ii) the amount Note Interest Distributable Amount for each Class of Notes and the distribution, if any, allocable to interest on or with respect to each class of NotesCertificate Principal Distributable Amount; (iii) [Reserved]the Note Principal Distributable Amount for each Class of Notes and the Certificate Principal Distributable Amount; (iv) the Aggregate Receivables number of and the aggregate Principal Balance of the Receivables as of the close of business on the last first day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the and last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution DateCollection Period; (v) the Note Principal Balance for Outstanding Amount of each class Class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class Class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount Certificate Balance and the Certificate Pool Factor; (vii) the Total Servicing Fee, the Trust Fees and Expenses, and any other fees or expenses paid with an identification of the Class A general purpose of such fees and the party receiving such fees or expenses; (viii) the Noteholders’ Interest Carryover Shortfall, the Class B Interest Noteholders’ Principal Carryover Shortfall, the Class C Certificateholders’ Interest Carryover Shortfall and the Class D Interest Certificateholders’ Principal Carryover Shortfall; (ix) the Interest Rate and Certificate Rate for the immediately succeeding Interest Accrual Period; (x) the beginning and ending principal balances of the Notes and Certificates; (xi) the pool characteristics as of the last day of the related Collection Period, including, but not limited to, the weighted average Interest Rate and weighted average remaining term to maturity; (xii) the Available Amounts; (xiii) delinquency and loss information for the related Collection Period; (xiv) the amount of non-recoverable Advances; (xv) any material modifications, extensions or waivers to the terms of the Receivables; (xvi) any material breaches of representations or warranties related to the Receivables; (xvii) the Yield Supplement Amount, the Yield Supplement Withdrawal Amount and the amount on deposit in the Yield Supplement Account after giving effect to the distributions made on such Payment Date; and (xviii) the balance on deposit in the Reserve Fund on such Payment Date, after giving effect to distributions made on the Payment Date, if any, and the change in each of such amounts balance from the immediately preceding Distribution Payment Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreementthe Issuer, but not later than the latest date permitted by law, the Indenture related Trustee and the Owner Trustee shall mailshall, upon written request, mail to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereonSecurityholder, a statement containing such information as may be required statement, prepared by the Code and Servicer, containing certain information for such calendar year or, in the event such Person shall have been a Securityholder during a portion of such calendar year, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Securityholder’s preparation of federal income tax returns. In addition, the Servicer shall furnish to the Trustees for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 16 contracts

Samples: Sale and Servicing Agreement (Honda Auto Receivables 2012-2 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2012-2 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2012-1 Owner Trust)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution make available to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 12 contracts

Samples: Servicing Agreement (Ally Auto Receivables Trust 2024-2), Servicing Agreement (Ally Auto Receivables Trust 2024-2), Servicing Agreement (Ally Auto Receivables Trust 2024-1)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, Shortfall and the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders[Reserved]; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)[Reserved]; (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);Certificateholder, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Collection Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 8 contracts

Samples: Servicing Agreement (Ally Auto Receivables Trust 2012-2), Servicing Agreement (Ally Auto Receivables Trust 2012-2), Servicing Agreement (Ally Auto Receivables Trust 2012-1)

Statements to Securityholders. (a) On each Distribution Payment Date, the Servicer shall provide to the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to forward to each Certificateholder, Certificateholder of record and to the Indenture Trustee shall include with each distribution to forward to each NoteholderNoteholder of record a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting 's Certificate furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders3.10, respectively, shall comply with Regulation AB and set setting forth at least the following information concerning as to the Certificates or Securities, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the amount of such distribution allocable to principal principal, as allocated to each Class of Notes and to the Certificates (stated separately for each class Class of Notes and the NotesCertificates); (ii) the amount of the distribution, if any, such distribution allocable to interest on or with respect interest, as allocated to each class Class of NotesNotes and to the Certificates (stated separately for each Class of Notes and the Certificates); (iii) [Reserved]the Yield Supplement Amount, the Yield Supplement Withdrawal Amount and the amount on deposit in the Yield Supplement Account after giving effect to the distributions made on such Payment Date; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Pool Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (orrelated Collection Period, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described allocated to principal reported under clause (i) above; (v) the Note Distributable Amount, the Certificate Distributable Amount and the Available Amount; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Total Servicing Fee paid to the Servicer with respect to the related Monthly Collection Period; (vii) the amount of non-recoverable Advances; (viii) total Payments Ahead and the Applied Payments Ahead; (ix) the amount of Trust Fees and Expenses; (x) the amount, if any, and purpose amount of any other fees or expenses accrued or paidNote Interest Carryover Shortfall and Note Principal Carryover Shortfall on such Payment Date and the change in such amounts from those with respect to the immediately preceding Payment Date; (xi) the amount, if any, distributed amount of any Certificate Interest Carryover Shortfall and Certificate Principal Carryover Shortfall on such Payment Date and the change in such amounts from those with respect to Noteholders from amounts on deposit in the Reserve Accountimmediately preceding Payment Date; (xii) the amount, if any, Note Pool Factor for each Class of excess cash distributed from the Reserve Account to the Certificateholders (or if Notes and the Certificate Distribution Account has been established pursuant to Section 5.1 Pool Factor, in each case as of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)Payment Date; (xiii) the balance of on deposit in the Reserve Account Fund on such Distribution Date (Payment Date, after giving effect to changes therein distributions made on the Payment Date, if any, and the change in such Distribution balance from the immediately preceding Payment Date);; and (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period amount available under the Servicer Letter of Credit, if any, and their sources; (xvi) the number and dollar such amount of Receivables at the beginning and end as a percentage of the applicable Monthly Period, and updated pool composition information Pool Balance as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition last day of such Notes or CertificatesCollection Period. Each amount set forth pursuant to on the Payment Date statement under clauses (i), (ii), (vi), (xi), (xii), x) and (xiiixi) above shall be expressed as a dollar amount per $1,000 of initial original principal amount balance of a Note or the NotesOriginal Certificate Balance of a Certificate, as the case may be. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreementthe Issuer, but not later than the latest date permitted by law, the Indenture Trustee and the Owner related Trustee shall mail, mail to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereonSecurityholder, a statement containing such information as may be required statement, prepared by the Code and Servicer, containing certain information for such calendar year or, in the event such Person shall have been a Securityholder during a portion of such calendar year, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Securityholder's preparation of federal income tax returns. In addition, the Servicer shall furnish to the Trustees for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 8 contracts

Samples: Sale and Servicing Agreement (Honda Auto Receivables 2004-1 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2002-3 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2002-4 Owner Trust)

Statements to Securityholders. (a) On each Distribution Payment Date, the Servicer shall provide to the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to furnish to each Certificateholder, Certificateholder of record and to the Indenture Trustee shall include with each distribution to forward to each NoteholderNoteholder of record a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting Certificate furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders3.10, respectively, shall comply with Regulation AB and set setting forth at least the following information concerning as to the Certificates or Securities, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the amount of such distribution allocable to principal principal, as allocated to each Class of Notes and to the Certificates (stated separately for each class Class of Notes and the NotesCertificates); (ii) the amount of the distribution, if any, such distribution allocable to interest on or with respect interest, as allocated to each class Class of NotesNotes and to the Certificates (stated separately for each Class of Notes and the Certificates); (iii) [Reserved]the Yield Supplement Amount, the Yield Supplement Withdrawal Amount and the amount on deposit in the Yield Supplement Account after giving effect to the distributions made on such Payment Date; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Pool Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (orrelated Collection Period, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described allocated to principal reported under clause (i) above; (v) the Note Distributable Amount, the Certificate Distributable Amount and the Available Amount; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Total Servicing Fee paid to the Servicer with respect to the related Monthly Collection Period; (vii) the amount of non-recoverable Advances; (viii) total Payments Ahead and the Applied Payments Ahead; (ix) the amount of Trust Fees and Expenses; (x) the amount, if any, and purpose amount of any other fees or expenses accrued or paidNote Interest Carryover Shortfall and Note Principal Carryover Shortfall on such Payment Date and the change in such amounts from those with respect to the immediately preceding Payment Date; (xi) the amount, if any, distributed amount of any Certificate Interest Carryover Shortfall and Certificate Principal Carryover Shortfall on such Payment Date and the change in such amounts from those with respect to Noteholders from amounts on deposit in the Reserve Accountimmediately preceding Payment Date; (xii) the amount, if any, Note Pool Factor for each Class of excess cash distributed from the Reserve Account to the Certificateholders (or if Notes and the Certificate Distribution Account has been established pursuant to Section 5.1 Pool Factor, in each case as of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)Payment Date; (xiii) the balance of on deposit in the Reserve Account Fund on such Distribution Date (Payment Date, after giving effect to changes therein distributions made on the Payment Date, if any, and the change in such Distribution balance from the immediately preceding Payment Date);; and (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period amount available under the Servicer Letter of Credit, if any, and their sources; (xvi) the number and dollar such amount of Receivables at the beginning and end as a percentage of the applicable Monthly Period, and updated pool composition information Pool Balance as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition last day of such Notes or CertificatesCollection Period. Each amount set forth pursuant to on the Payment Date statement under clauses (i), (ii), (vi), (xi), (xii), x) and (xiiixi) above shall be expressed as a dollar amount per $1,000 of initial original principal amount balance of a Note or the NotesOriginal Certificate Balance of a Certificate, as the case may be. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreementthe Issuer, but not later than the latest date permitted by law, the Indenture Trustee and the Owner related Trustee shall mail, mail to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereonSecurityholder, a statement containing such information as may be required statement, prepared by the Code and Servicer, containing certain information for such calendar year or, in the event such Person shall have been a Securityholder during a portion of such calendar year, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Securityholder’s preparation of federal income tax returns. In addition, the Servicer shall furnish to the Trustees for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 7 contracts

Samples: Sale and Servicing Agreement (Honda Auto Receivables 2005-3 Owner Trust), Sale and Servicing Agreement (American Honda Receivables Corp), Sale and Servicing Agreement (Honda Auto Receivables 2005-4 Owner Trust)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.10 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of NotesSecurities; (iii) [Reserved]the net amount, if any, of any payments due under all Interest Rate Swaps (specifying, if applicable, any amounts owing as a result of an Early Termination Date under the Notes); (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Notes Interest Carryover Shortfall, the Class B Notes Interest Carryover Shortfall, the Class C Notes Interest Carryover Shortfall Shortfall, and the Class D Notes Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders[Reserved]; (viii) any amounts paid to the Indenture Trustee, amount of the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)Outstanding Monthly Advances on such Distribution Date; (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);Certificateholder, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]LIBOR for such Distribution Date and the interest rate on each class of Floating Rate Notes; (xv) cash flows received during the related Monthly Collection Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepaymentsprepayment amounts; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 6 contracts

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2007-1), Trust Sale and Servicing Agreement (Capital Auto Receivables LLC), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2008-1)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer Trustee or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time;; and (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 6 contracts

Samples: Servicing Agreement (Ally Auto Receivables Trust 2015-1), Servicing Agreement (Ally Auto Receivables Trust 2015-1), Servicing Agreement (Ally Auto Assets LLC)

Statements to Securityholders. (a) On each Distribution Payment Date, the Servicer shall provide to the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to furnish to each Certificateholder, Certificateholder of record and to the Indenture Trustee shall include with each distribution to make available to each NoteholderNoteholder of record (by posting on its website at hxxxx://xxxxxxxxxxxxxxxxxxxx.xxxxxxxxx.xxx) a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting Certificate furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders3.10, respectively, shall comply with Regulation AB and set setting forth at least the following information concerning as to the Certificates or Securities, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the amount of such distribution allocable to principal of each class of Record Date, the NotesDetermination Date and the Collection Period; (ii) the amount Note Interest Distributable Amount for each Class of Notes and the distribution, if any, allocable to interest on or with respect to each class of NotesCertificate Principal Distributable Amount; (iii) [Reserved]the Note Principal Distributable Amount for each Class of Notes and the Certificate Principal Distributable Amount; (iv) the Aggregate Receivables number of and the aggregate Principal Balance of the Receivables as of the close of business on the last first day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the and last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution DateCollection Period; (v) the Note Principal Balance for Outstanding Amount of each class Class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class Class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount Certificate Balance and the Certificate Pool Factor; (vii) the Total Servicing Fee, the Trust Fees and Expenses, and any other fees or expenses paid with an identification of the Class A general purpose of such fees and the party receiving such fees or expenses; (viii) the Noteholders’ Interest Carryover Shortfall, the Class B Interest Noteholders’ Principal Carryover Shortfall, the Class C Certificateholders’ Interest Carryover Shortfall and the Class D Interest Certificateholders’ Principal Carryover Shortfall; (ix) the Interest Rate and Certificate Rate for the immediately succeeding Interest Accrual Period; (x) the beginning and ending principal balances of the Notes and Certificates; (xi) the pool characteristics as of the last day of the related Collection Period, including, but not limited to, the weighted average Interest Rate and weighted average remaining term to maturity; (xii) the Available Amounts; (xiii) delinquency and loss information for the related Collection Period; (xiv) the amount of non-recoverable Advances; (xv) any material modifications, extensions or waivers to the terms of the Receivables; (xvi) any material breaches of representations or warranties related to the Receivables; (xvii) the Yield Supplement Amount, the Yield Supplement Withdrawal Amount and the amount on deposit in the Yield Supplement Account after giving effect to the distributions made on such Payment Date; and (xviii) the balance on deposit in the Reserve Fund on such Payment Date, after giving effect to distributions made on the Payment Date, if any, and the change in each of such amounts balance from the immediately preceding Distribution Payment Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreementthe Issuer, but not later than the latest date permitted by law, the Indenture related Trustee and the Owner Trustee shall mailshall, upon written request, mail to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereonSecurityholder, a statement containing such information as may be required statement, prepared by the Code and Servicer, containing certain information for such calendar year or, in the event such Person shall have been a Securityholder during a portion of such calendar year, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Securityholder’s preparation of federal income tax returns. In addition, the Servicer shall furnish to the Trustees for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 6 contracts

Samples: Sale and Servicing Agreement (Honda Auto Receivables 2015-4 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2015-4 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2014-3 Owner Trust)

Statements to Securityholders. (a) On each Distribution Payment Date, the Servicer shall provide to the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to furnish to each Certificateholder, Certificateholder of record and to the Indenture Trustee shall include with each distribution to make available to each NoteholderNoteholder of record (by posting on its website at hxxx://xxx.xx.xxxxxxxxxx.xxx) a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting Certificate furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders3.10, respectively, shall comply with Regulation AB and set setting forth at least the following information concerning as to the Certificates or Securities, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the amount of such distribution allocable to principal of each class of Record Date, the NotesDetermination Date and the Collection Period; (ii) the amount Note Interest Distributable Amount for each Class of Notes and the distribution, if any, allocable to interest on or with respect to each class of NotesCertificate Principal Distributable Amount; (iii) [Reserved]the Note Principal Distributable Amount for each Class of Notes and the Certificate Principal Distributable Amount; (iv) the Aggregate Receivables number of and the aggregate Principal Balance of the Receivables as of the close of business on the last first day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the and last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution DateCollection Period; (v) the Note Principal Balance for Outstanding Amount of each class Class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class Class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount Certificate Balance and the Certificate Pool Factor; (vii) the Total Servicing Fee, the Trust Fees and Expenses, and any other fees or expenses paid with an identification of the Class A general purpose of such fees and the party receiving such fees or expenses; (viii) the Noteholders’ Interest Carryover Shortfall, the Class B Interest Noteholders’ Principal Carryover Shortfall, the Class C Certificateholders’ Interest Carryover Shortfall and the Class D Interest Certificateholders’ Principal Carryover Shortfall; (ix) the Interest Rate and Certificate Rate for the immediately succeeding Interest Accrual Period; (x) the beginning and ending principal balances of the Notes and Certificates; (xi) the pool characteristics as of the last day of the related Collection Period, including, but not limited to, the weighted average Interest Rate and weighted average remaining term to maturity; (xii) the Available Amounts; (xiii) delinquency and loss information for the related Collection Period; (xiv) the amount of non-recoverable Advances; (xv) any material modifications, extensions or waivers to the terms of the Receivables; (xvi) any material breaches of representations or warranties related to the Receivables; (xvii) the Yield Supplement Amount, the Yield Supplement Withdrawal Amount and the amount on deposit in the Yield Supplement Account after giving effect to the distributions made on such Payment Date; and (xviii) the balance on deposit in the Reserve Fund on such Payment Date, after giving effect to distributions made on the Payment Date, if any, and the change in each of such amounts balance from the immediately preceding Distribution Payment Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreementthe Issuer, but not later than the latest date permitted by law, the Indenture related Trustee and the Owner Trustee shall mailshall, upon written request, mail to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereonSecurityholder, a statement containing such information as may be required statement, prepared by the Code and Servicer, containing certain information for such calendar year or, in the event such Person shall have been a Securityholder during a portion of such calendar year, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Securityholder’s preparation of federal income tax returns. In addition, the Servicer shall furnish to the Trustees for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 6 contracts

Samples: Sale and Servicing Agreement (Honda Auto Receivables 2014-4 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2014-4 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2014-1 Owner Trust)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer Trustee or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Collection Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 6 contracts

Samples: Servicing Agreement (Ally Auto Receivables Trust 2013-1), Servicing Agreement (Ally Auto Receivables Trust 2013-1), Servicing Agreement (Ally Auto Receivables Trust 2012-5)

Statements to Securityholders. (a) On With respect to each Distribution Payment Date, on the Business Day following the related Determination Date, the Owner Servicer shall forward to the Indenture Trustee the Loan information reasonably available to the Servicer with respect to the Loans as the Indenture Trustee may reasonably request in order for the Indenture Trustee to perform the calculations necessary to prepare the statements contemplated by this Section 4.01 (the "Servicing Certificate"). The Indenture Trustee pursuant to Section 3.23 of the Indenture shall (except as otherwise provided in the Trust Agreement) deliver forward or cause to be forwarded by mail to each Certificateholder, Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and the Indenture Trustee shall include with each distribution to each NoteholderRating Agency, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set setting forth the following information concerning as to the Certificates or Notes and Certificates, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the aggregate amount of such distribution allocable to principal of each class of the Notes(a) Interest Remittance Amount, (b) Principal Remittance Amount and (c) Substitution Amounts; (ii) the amount of such distribution as principal to the distribution, if any, allocable to interest on or with respect to each class of NotesNoteholders; (iii) [Reserved]the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Aggregate Receivables Principal Loan Balance of the Loans as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as end of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Daterelated Collection Period; (v) the Note number and aggregate Principal Balance Balances of Loans (a) as to which the Monthly Payment is Delinquent for each class of Notes 30-59 days, 60-89 days and the Aggregate Note Principal Balance90 or more days, respectively, (b) that are foreclosed, (c) that have become REO, and the Note Pool Factor for (d) that have been finally liquidated due to being 180 days or more delinquent, in each class of Notes, each case as of the end of the related Collection Period; provided, however, that such Distribution Date after giving effect information will not be provided on the statements relating to all payments described under clause (i) abovethe first Payment Date; (vi) the amount of weighted average Loan Rate for the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Daterelated Collection Period; (vii) the amount of such distribution allocable Class Principal Balance after giving effect to the Certificateholdersdistribution of principal on such Payment Date; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)Certificate Distribution Amount immediately following such Payment Date; (ix) the amount of the Basic aggregate Servicing Fee paid to the Servicer with respect to Fees for the related Monthly Collection Period; (x) the amount, if any, Overcollateralization Amount and purpose of any other fees or expenses accrued or paidthe Targeted Overcollateralization Amount immediately following such Payment Date; (xi) the amount, if any, distributed number and principal amount of Capitalization Workouts pursuant to Noteholders from amounts on deposit in Section 3.02(a)(v) entered into since the Reserve AccountClosing Date; (xii) the amount, if any, aggregate amount recovered during the related Collection Period consisting of excess cash distributed from the Reserve Account to the Certificateholders (all subsequent recoveries on any Loan that was 180 days or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);more delinquent; and (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information Basis Risk Shortfall for the period Class A, Class M-1 and any material changes in determining or defining delinquencies, charge-offs Class B-1 Notes and uncollectible accounts; (xviii) the amount Available Funds Shortfall for the Class B-2 Notes on each Payment Date. In the case of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth furnished pursuant to clauses (i), (ii), (vi), (xi), (xii), ) and (xiiiiii) above above, the amounts shall be expressed as a an aggregate dollar amount per Note or Certificate, as applicable, with a $1,000 of initial principal amount of the Notesdenomination. (b) Within In addition, with respect to each Payment Date, on the prescribed period of time Business Day following the related Determination Date, the Servicer shall forward to the Rating Agencies the following information for tax reporting purposes each Capitalization Workout entered into during the related Collection Period: (i) the original Loan amount; (ii) the Loan amount after the end Capitalization Workout; (iii) the original Monthly Payment amount; (iv) the Monthly Payment amount after the Capitalization Workout; (v) the Capitalized Amount as defined in Section 3.02(a)(v) herein; (vi) the Combined Loan-to-Value Ratio prior to the Capitalization Workout; (vii) the Combined Loan-to-Value Ratio after the Capitalization Workout; and (viii) if an appraisal was used in determining the Combined Loan-to-Value Ratio referred to in (vii) above, the type and date of each calendar year during the term of this Agreement, appraisal. The Servicer shall also forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Payment Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Indenture Trustee shall mailbe protected in relying upon the same without any independent check or verification. In addition, to each Person who at any time during such calendar year upon the Issuer's written request, the Servicer shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such promptly furnish information as may be required reasonably requested by the Code and applicable Treasury Regulations Issuer that is reasonably available to the Servicer to enable such securityholder the Issuer to prepare perform its federal and state income tax returnsreporting obligations.

Appears in 5 contracts

Samples: Servicing Agreement (Nomura Asset Acceptance Corp), Servicing Agreement (Cendant Mortgage Capital LLC), Servicing Agreement (Nomura Home Equity Loan, Inc.)

Statements to Securityholders. (a) On each Distribution Date, the AART Owner Trustee shall (except as otherwise provided in the Trust Agreement) shall deliver to each Certificateholder, and the AART Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer Administrator to the Rating Agencies) prepared by the Servicer Administrator and provided to the AART Indenture Trustee and the AART Owner Trustee, based on information in the ServicerAdministrator’s Accounting furnished pursuant to Section 2.092.06. Each such statement to be delivered or otherwise made available to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) Determination Dates and Distribution Dates used to calculate distributions on the Notes and any Certificates; (ii) the amount of such distribution allocable to principal of each class of the NotesNotes and the amount of any distribution to the Certificates; (iiiii) the amount of the distribution, if any, allocable to any interest on or with respect to each class of the Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and Notes, the Aggregate Note Principal Balance, Balance and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause clauses (iii) and (iii) above; (v) the First Priority Principal Distributable Amount, the Second Priority Principal Distributable Amount, the Third Priority Principal Distributable Amount and the Noteholders’ Regular Principal Distributable Amount for such Distribution Date; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D C Interest Carryover Shortfall, if any, and the change in each of such amounts amount from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts Administration Fee paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) and the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (viii) the interest rate on each class of Notes for such Distribution Date; (ix) the Secured Note Rate; (x) the amount, if any, aggregate amount in the Payment Ahead Servicing Account and purpose of any other fees or expenses accrued or paidthe change in that amount during the related Monthly Period; (xi) the amount, if any, distributed to Noteholders from amounts amount on deposit in the Reserve Account, if any, on such Distribution Date, after giving effect to any withdrawals or deposits on such date, and the Reserve Account Required Amount on such date; (xii) the amount, if any, of excess cash distributed to the Noteholders, the Certificateholders and the Depositor from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)Account; (xiii) the balance of the Reserve Account on LIBOR for such Distribution Date (after giving effect to changes therein and the interest rate on such Distribution Date)each tranche of Floating Rate Notes; (xiv) [Reserved]the aggregate amounts of Monthly Payment Advances and of Residual Advances made by the Servicer under the Servicing Agreement with respect to the Monthly Period; (xv) cash flows received the amount of any Pull Ahead Payments made by Ally Financial, in its capacity as agent for any Lease OEM, under the Pull Ahead Funding Agreement and the number of Lease Assets that became Pull Ahead Lease Assets during the related Monthly Period; (xvi) the amount of Aggregate Residual Losses or credit losses on the Lease Assets during the related Monthly Period and their sourcesthe aggregate amount of residual or credit losses on the Lease Assets since the Cutoff Date; (xvixvii) the number and dollar amount Aggregate ABS Value of Receivables the Lease Assets at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, term and prepaymentsprepayment rates; (xviixviii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiixix) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurredaggregate Warranty Payment; (xixxx) the aggregate Administrative Purchase Payment; and (xxi) purchase price of Lease Assets repurchased by the Servicer due to any material modifications, extensions or waivers relating to the terms of of, or fees, penalties or payments on, pool assets Lease Assets during the distribution period Distribution Period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (iii), (iiiii), (vi), (xi), ) and (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) On each Distribution Date, the AART Indenture Trustee shall make available to each Noteholder a copy of the Servicer’s Certificate as delivered to the AART Indenture Trustee by the Servicer pursuant to Section 2.15 of the Servicing Agreement. (c) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the AART Indenture Trustee and the AART Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder Holder of Notes or Certificates, respectively, and received any payments or distributions thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder Securityholder to prepare its federal income tax returns.

Appears in 4 contracts

Samples: Administration Agreement (Ally Auto Assets LLC), Administration Agreement (Ally Auto Assets LLC), Administration Agreement (Ally Auto Assets LLC)

Statements to Securityholders. On each Determination Date, the Servicer shall provide to the Indenture Trustee (with a copy to each Paying Agent (if any)) for the Indenture Trustee to forward to, or make available to, each Noteholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent (if any)) for the Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date a statement in electronic format acceptable to the Indenture Trustee setting forth at least the following information as to the Securities to the extent applicable: (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in amount of collections received with respect to the Trust Agreement) deliver Receivables during the related Collection Period and allocable to each Certificateholderprincipal, and the Indenture Trustee shall include aggregate amount paid or distributed in respect of interest on each Class of Notes on such Payment Date; (b) the amount of collections received with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer respect to the Rating AgenciesReceivables during the related Collection Period and allocable to interest, and the aggregate amount paid or distributed in respect of principal on each Class of Notes on such Payment Date; (c) prepared by the Servicer based on information number of Receivables, the Pool Balance and the Adjusted Pool Balance, in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, each case with respect to such Distribution Payment Date or and the immediately preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distributionPayment Date, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance and as of the close of business on the last day of the second Monthly immediately preceding Collection Period preceding such Distribution Date (oror as of the Closing Date, for in the case of the first Distribution Determination Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date); (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vid) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall Servicing Fee and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Supplemental Servicing Fee paid to the Servicer with respect to the related Monthly Collection Period; (xe) the amountamount of fees, expenses and indemnification amounts due and payable to each of the Indenture Trustee, the Owner Trustee and the Asset Representations Reviewer, before and after giving effect to payments on the related Payment Date; (f) the Outstanding Amount of each Class of Notes and the Note Pool Factor for each such Class as of the close of business on the related Payment Date, before and after giving effect to payments allocated to principal reported under clause (a) above; (g) the amount of any interest carryover shortfall on such Payment Date and the change, if any, and purpose of any other fees or expenses accrued or paidin such amounts from those with respect to the immediately preceding Payment Date; (xih) the amountaggregate amounts of Realized Losses, if any, distributed with respect to Noteholders from amounts on deposit in the Reserve Accountrelated Collection Period; (xiii) the amount, if any, of excess cash distributed from Yield Supplement Overcollateralization Amount for the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)related Payment Date; (xiiij) the balance of the Reserve Account on such Distribution Date (that Payment Date, before and after giving effect to changes therein on deposits and withdrawals to be made in respect of such Distribution Payment Date), if any; (xivk) [Reserved]the amount of any deposit to the Reserve Account and the amount and application of any funds withdrawn from the Reserve Account with respect to such Payment Date; (xvl) cash flows received the aggregate Principal Balance of all Receivables that became Liquidated Receivables or Purchased Receivables during the related Monthly Period and their sourcesCollection Period; (xvim) the aggregate Principal Balance and number and dollar amount of Receivables at the beginning and end that are 30 to 59 days, 60 to 89 days, 90 to 119 days or 120 days or more delinquent as of the applicable Monthly last day of the related Collection Period; (n) any Available Amounts Shortfall after giving effect to payments on the related Payment Date, and updated pool composition information any change in such amounts from the preceding statement; (o) the aggregate Principal Balance and number of all Receivables with respect to which the related Financed Vehicle was repossessed; (p) the amount to be distributed to the Certificate Distribution Account on the related Payment Date; (q) the Target Overcollateralization Amount for the related Payment Date; (r) the applicable Record Date, Determination Date, Interest Period and Payment Date for each Class of Notes; (s) the weighted average Interest Rate and weighted average remaining term to maturity of the Receivables as of the end of the Monthly related Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviit) the Outstanding Amount of each Class of Notes as a percentage of the Outstanding Amount of all Classes of Notes as of the close of business on the related Payment Date, before and after giving effect to payments allocated to principal reported under clause (a) above; (u) delinquency and loss information with respect to the Receivables for the period and related Collection Period, including a description of any material changes change in determining or defining delinquencies, practices with respect to charge-offs offs, collection and uncollectible accountsmanagement of delinquent Receivables, and the effect of any grace period, re-aging, re-structuring, partial payments or other practices on delinquency and loss experience; (xviiiv) the amount a description of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or Receivables terms, fees, penalties or payments on, pool assets during the distribution period related Collection Period, or that, cumulatively, that have cumulatively become material over time; (xxw) the outstanding notional amount a description of the Certificates any material breaches of representations and warranties made with respect to the extent Receivables, or covenants, contained in the Certificates are held by Persons other than Ally Bank or its AffiliatesBasic Documents; (xxix) the amount of Servicer Advances for the related Collection Period; and (y) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary occurred as of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) end of the Trust Sale Agreement; related Collection Period. The amount or interest or principal allocable to a Class of Notes, as described in clauses (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(ha) and Item 1125 of Regulation AB; and (xxviiib) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchaseabove, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall also be expressed as a dollar amount per $1,000 of initial original principal amount of the Notes. related Note. The Indenture Trustee will make such report (band, at its option, any additional files containing the same information in an alternative format) Within available each month to Noteholders and the prescribed period of time for tax reporting purposes after Administrator via the end of each calendar year during Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “xxxxx://xxxxx.xxxxxx.xxx”. Assistance in using the term of this Agreementwebsite can be obtained by calling the Indenture Trustee’s customer service desk at (000) 000-0000. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by requesting the same in writing sent to the Corporate Trust Office and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the Owner acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall mail, be entitled to each Person who at rely on but shall not be responsible for the content or accuracy of any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required provided to it by the Code Administrator and applicable Treasury Regulations to enable such securityholder to prepare the Servicer and may affix thereto any disclaimer it deems appropriate in its federal income tax returnsreasonable discretion.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (BMW Vehicle Owner Trust 2020-A), Sale and Servicing Agreement (BMW Vehicle Owner Trust 2020-A), Sale and Servicing Agreement (BMW Vehicle Owner Trust 2019-A)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.09 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]the amount of such distribution allocable to the Certificateholders; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) aboveabove and to all reinvestments described under clause (xiv) below; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall, the Class D Interest Carryover Shortfall and the Class D E Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of Negative Carry Amount, if any, on such distribution allocable to the CertificateholdersDistribution Date; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (xix) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xix) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xiixi) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiixii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiii) LIBOR for such Distribution Date and the interest rate on each tranche of Floating Rate Notes; (xiv) [Reserved]the Aggregate Additional Receivables Principal Balance for such Distribution Date (related to the Revolving Period only); (xv) the balance of the Accumulation Account after giving effect to payments to and distributions from such account on such Distribution Date (related to the Revolving Period only); (xvi) cash flows received during the related Monthly Collection Period and their sources; (xvixvii) whether the Revolving Period has terminated early as a result of the occurrence of an Early Amortization Event (related to the Revolving Period only); (xviii) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviixix) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiixx) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xixxxi) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xix), (xiixi), and (xiiixii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 4 contracts

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2014-2), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2014-2), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2014-1)

Statements to Securityholders. (a) On each Distribution Determination Date, the Owner Trustee Servicer shall (except as otherwise provided in the Trust Agreement) deliver provide to each Certificateholder, and the Indenture Trustee shall include (with each distribution a copy to each NoteholderPaying Agent (if any)) for the Indenture Trustee to forward to, or make available to, each Noteholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent (if any)) for the Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date a statement (which statement shall also be provided by the Servicer in electronic format acceptable to the Rating Agencies) prepared by the Servicer based on information Indenture Trustee substantially in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set form of Exhibit B setting forth at least the following information concerning as to the Certificates or Securities to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (ia) the amount of such distribution collections received with respect to the Receivables during the related Collection Period and allocable to principal and the amount allocable to each Class of each class of the NotesNotes on such Payment Date; (iib) the amount of collections received with respect to the distribution, if any, Receivables during the related Collection Period and allocable to interest on or with respect and the amount allocable to each class Class of NotesNotes on such Payment Date; (iii) [Reserved]; (ivc) the Aggregate Receivables Principal Balance Outstanding Amount of each Class of Notes and the Note Pool Factor for each such Class as of the close of business on the last day related Payment Date, after giving effect to payments allocated to principal reported under clause (a) above; (d) the amount of the Servicing Fee paid to the Servicer and the amount of any fees payable to the Owner Trustee or the Indenture Trustee with respect to the related Collection Period; (e) the amount of any interest carryover shortfall on such Monthly Payment Date and the change, if any, in such amounts from those with respect to the immediately preceding Payment Date; (f) the aggregate amounts of Realized Losses, if any, with respect to the related Collection Period, ; (g) the Aggregate Receivables Principal Pool Balance and the Adjusted Pool Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (orrelated Collection Period, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described allocated to principal reported under clause (ia) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiih) the balance of the Reserve Account on such Distribution the related Determination Date (after giving effect to changes therein deposits and withdrawals to be made on such Distribution Payment Date), if any; (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiii) the amount of receivables any deposit to the Reserve Account and the amount and application of any funds withdrawn from the Reserve Account with respect to such Payment Date; (j) the aggregate Principal Balance of all Receivables that became Liquidated Receivables or Purchased Receivables during the related Collection Period; (k) the aggregate Principal Balance and number of Receivables that are 30 to 59 days, 60 to 89 days, 90 to 119 days or 120 days or more delinquent as of the last day of the related Collection Period; (l) any Available Amounts Shortfall after giving effect to payments on such Payment Date, and any change in such amounts from the preceding statement; (m) the aggregate Principal Balance and number of all Receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurredthe related Financed Vehicle was repossessed; (xixn) any material modifications, extensions or waivers relating the amount to be distributed to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over timeCertificate Distribution Account; (xxo) the outstanding notional amount of Yield Supplement Overcollateralization Amount for the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliatesnext Payment Date; (xxip) whether a Delinquency Trigger has been met or exceededthe Target Overcollateralization Amount; (xxiiq) the name applicable Record Date, Determination Date, Interest Period and contact information Payment Date for each Class of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic DocumentsNotes; (xxiiir) a summary the weighted average Interest Rate and weighted average remaining term to maturity of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation ABReceivables; and (xxviiis) the nature and amount Outstanding Amount of any material change in each Class of Notes as a percentage of the Seller’s or an Affiliate’s interest in Outstanding Amount of all Classes of Notes as of the Notes or Certificates from close of business on the purchaserelated Payment Date, sale or other disposition of such Notes or Certificatesafter giving effect to payments allocated to principal reported under clause (a) above. Each amount set forth pursuant to on the Payment Date statement under clauses (ia), (ii), b) or (vi), (xi), (xii), and (xiiil) above shall be expressed as a dollar amount per $1,000 of initial original principal amount of a Note. The Indenture Trustee will make such report (and, at its option, any additional files containing the Notes. same information in an alternative format) available each month to Noteholders and the Administrator via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “http:/xxx.xxxxxx.xxx/xxx”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (b000) Within 000-0000. Such parties that are unable to use the prescribed period of time for tax reporting purposes after website are entitled to have a paper copy mailed to them via first class mail by requesting the end of each calendar year during same in writing sent to the term of this AgreementCorporate Trust Office and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the Owner acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall mail, be entitled to each Person who at rely on but shall not be responsible for the content or accuracy of any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required provided to it by the Code Administrator and applicable Treasury Regulations to enable such securityholder to prepare the Servicer and may affix thereto any disclaimer it deems appropriate in its federal income tax returnsreasonable discretion.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (BMW Fs Securities LLC), Sale and Servicing Agreement (BMW Fs Securities LLC), Sale and Servicing Agreement (BMW Fs Securities LLC)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.10 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D C Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders[Reserved]; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)[Reserved]; (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);Certificateholder, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Collection Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 4 contracts

Samples: Trust Sale and Servicing Agreement (Ally Auto Receivables Trust 2010-5), Trust Sale and Servicing Agreement (Ally Auto Receivables Trust 2010-5), Trust Sale and Servicing Agreement (Ally Auto Receivables Trust 2010-4)

Statements to Securityholders. (a) On each Distribution Payment Date, the Servicer shall provide to the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to furnish to each Certificateholder, Certificateholder of record and to the Indenture Trustee shall include with each distribution to make available to each NoteholderNoteholder of record (by posting on its website at hxxx://xxx.xxxxxx.xxx/xxx) a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting Certificate furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders3.10, respectively, shall comply with Regulation AB and set setting forth at least the following information concerning as to the Certificates or Securities, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the amount of such distribution allocable to principal of each class of Record Date, the NotesDetermination Date and the Collection Period; (ii) the amount Note Interest Distributable Amount for each Class of Notes and the distribution, if any, allocable to interest on or with respect to each class of NotesCertificate Principal Distributable Amount; (iii) [Reserved]the Note Principal Distributable Amount for each Class of Notes and the Certificate Principal Distributable Amount; (iv) the Aggregate Receivables number of and the aggregate Principal Balance of the Receivables as of the close of business on the last first day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the and last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution DateCollection Period; (v) the Note Principal Balance for Outstanding Amount of each class Class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class Class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount Certificate Balance and the Certificate Pool Factor; (vii) the Total Servicing Fee, the Trust Fees and Expenses, and any other fees or expenses paid with an identification of the Class A general purpose of such fees and the party receiving such fees or expenses; (viii) the Noteholders’ Interest Carryover Shortfall, the Class B Interest Noteholders’ Principal Carryover Shortfall, the Class C Certificateholders’ Interest Carryover Shortfall and the Class D Interest Certificateholders’ Principal Carryover Shortfall; (ix) the Interest Rate and Certificate Rate for the immediately succeeding Interest Accrual Period; (x) the beginning and ending principal balances of the Notes and Certificates; (xi) the pool characteristics as of the last day of the related Collection Period, including, but not limited to, the weighted average Interest Rate and weighted average remaining term to maturity; (xii) the Available Amounts; (xiii) delinquency and loss information for the related Collection Period; (xiv) the amount of non-recoverable Advances; (xv) any material modifications, extensions or waivers to the terms of the Receivables; (xvi) any material breaches of representations or warranties related to the Receivables; (xvii) the Yield Supplement Amount, the Yield Supplement Withdrawal Amount and the amount on deposit in the Yield Supplement Account after giving effect to the distributions made on such Payment Date; and (xviii) the balance on deposit in the Reserve Fund on such Payment Date, after giving effect to distributions made on the Payment Date, if any, and the change in each of such amounts balance from the immediately preceding Distribution Payment Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreementthe Issuer, but not later than the latest date permitted by law, the Indenture related Trustee and the Owner Trustee shall mailshall, upon written request, mail to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereonSecurityholder, a statement containing such information as may be required statement, prepared by the Code and Servicer, containing certain information for such calendar year or, in the event such Person shall have been a Securityholder during a portion of such calendar year, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Securityholder’s preparation of federal income tax returns. In addition, the Servicer shall furnish to the Trustees for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Honda Auto Receivables 2013-4 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2013-4 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2012-3 Owner Trust)

Statements to Securityholders. On each Determination Date, the Servicer shall provide to the Indenture Trustee (with a copy to each Paying Agent (if any)) for the Indenture Trustee to forward to, or make available to, each Noteholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent (if any)) for the Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date a statement in electronic format acceptable to the Indenture Trustee setting forth at least the following information as to the Securities to the extent applicable: (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in amount of collections received with respect to the Trust Agreement) deliver Receivables during the related Collection Period and allocable to each Certificateholderprincipal, and the Indenture Trustee shall include aggregate amount paid or distributed in respect of interest on each Class of Notes on such Payment Date; (b) the amount of collections received with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer respect to the Rating AgenciesReceivables during the related Collection Period and allocable to interest, and the aggregate amount paid or distributed in respect of principal on each Class of Notes on such Payment Date; (c) prepared by the Servicer based on information number of Receivables, the Pool Balance and the Adjusted Pool Balance, in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, each case with respect to such Distribution Payment Date or and the immediately preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distributionPayment Date, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance and as of the close of business on the last day of the second Monthly immediately preceding Collection Period preceding such Distribution Date (oror as of the Closing Date, for in the case of the first Distribution Determination Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date); (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vid) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall Servicing Fee and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Supplemental Servicing Fee paid to the Servicer with respect to the related Monthly Collection Period; (xe) the amountamount of fees, expenses and indemnification amounts due and payable to each of the Indenture Trustee, the Owner Trustee and the Asset Representations Reviewer, before and after giving effect to payments on the related Payment Date; (f) the Outstanding Amount of each Class of Notes and the Note Pool Factor for each such Class as of the close of business on the related Payment Date, before and after giving effect to payments allocated to principal reported under clause (a) above; (g) the Benchmark and the Class A-2b Rate for the related Interest Period with respect to the Class A-2b Notes; (h) the amount of any interest carryover shortfall on such Payment Date and the change, if any, and purpose of any other fees or expenses accrued or paidin such amounts from those with respect to the immediately preceding Payment Date; (xii) the amountaggregate amounts of Realized Losses, if any, distributed with respect to Noteholders from amounts on deposit in the Reserve Accountrelated Collection Period; (xiij) the amount, if any, of excess cash distributed from Yield Supplement Overcollateralization Amount for the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)related Payment Date; (xiiik) the balance of the Reserve Account on such Distribution Date (that Payment Date, before and after giving effect to changes therein on deposits and withdrawals to be made in respect of such Distribution Payment Date), if any; (xivl) [Reserved]the amount of any deposit to the Reserve Account and the amount and application of any funds withdrawn from the Reserve Account with respect to such Payment Date; (xvm) cash flows received the aggregate Principal Balance of all Receivables that became Liquidated Receivables or Purchased Receivables during the related Monthly Period and their sourcesCollection Period; (xvin) the aggregate Principal Balance and number and dollar amount of Receivables at the beginning and end that are 30 to 59 days, 60 to 89 days, 90 to 119 days or 120 days or more delinquent as of the applicable Monthly last day of the related Collection Period; (o) any Available Amounts Shortfall after giving effect to payments on the related Payment Date, and updated pool composition information any change in such amounts from the preceding statement; (p) the aggregate Principal Balance and number of all Receivables with respect to which the related Financed Vehicle was repossessed; (q) the amount to be distributed to the Certificate Distribution Account on the related Payment Date; (r) the Target Overcollateralization Amount for the related Payment Date; (s) the applicable Record Date, Determination Date, Interest Period and Payment Date for each Class of Notes; (t) the weighted average Interest Rate and weighted average remaining term to maturity of the Receivables as of the end of the Monthly related Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviiu) the Outstanding Amount of each Class of Notes as a percentage of the Outstanding Amount of all Classes of Notes as of the close of business on the related Payment Date, before and after giving effect to payments allocated to principal reported under clause (a) above; (v) delinquency and loss information with respect to the Receivables for the period and related Collection Period, including a description of any material changes change in determining or defining delinquencies, practices with respect to charge-offs offs, collection and uncollectible accountsmanagement of delinquent Receivables, and the effect of any grace period, re-aging, re-structuring, partial payments or other practices on delinquency and loss experience; (xviiiw) the amount a description of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or Receivables terms, fees, penalties or payments on, pool assets during the distribution period related Collection Period, or that, cumulatively, that have cumulatively become material over time; (xxx) the outstanding notional amount a description of the Certificates any material breaches of representations and warranties made with respect to the extent Receivables, or covenants, contained in the Certificates are held by Persons other than Ally Bank or its AffiliatesBasic Documents; (xxiy) the amount of Servicer Advances for the related Collection Period; (z) whether a Delinquency Trigger has been met or exceededoccurred as of the end of the related Collection Period; (xxiiaa) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary notice of the findings and conclusions making of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation ABSOFR Adjustment Conforming Changes; and (xxviiibb) notice of the nature occurrence of a Benchmark Transition Event and amount its related Benchmark Replacement Date, the determination of a Benchmark Replacement, the Unadjusted Benchmark Replacement, the Benchmark Replacement Adjustment and the making of any material change Benchmark Replacement Conforming Changes. The amount or interest or principal allocable to a Class of Notes, as described in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), a) and (xiiib) above above, shall also be expressed as a dollar amount per $1,000 of initial original principal amount of the Notes. related Note. The Indenture Trustee will make such report (band, at its option, any additional files containing the same information in an alternative format) Within available each month to Noteholders and the prescribed period of time for tax reporting purposes after Administrator via the end of each calendar year during Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “xxxxx://xxxxx.xxxxxx.xxx”. Assistance in using the term of this Agreementwebsite can be obtained by calling the Indenture Trustee’s customer service desk at (000) 000-0000. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by requesting the same in writing sent to the Corporate Trust Office and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the Owner acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall mail, be entitled to each Person who at rely on but shall not be responsible for the content or accuracy of any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required provided to it by the Code Administrator and applicable Treasury Regulations to enable such securityholder to prepare the Servicer and may affix thereto any disclaimer it deems appropriate in its federal income tax returnsreasonable discretion.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (BMW Vehicle Owner Trust 2022-A), Sale and Servicing Agreement (BMW Vehicle Owner Trust 2022-A), Sale and Servicing Agreement (BMW Vehicle Owner Trust 2023-A)

Statements to Securityholders. (a) On each Distribution Payment Date, the Servicer shall provide to the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to furnish to each Certificateholder, Certificateholder of record and to the Indenture Trustee shall include with each distribution to make available to each NoteholderNoteholder of record (by posting on its website at hxxx://xxx.xxxxxxxxx.xxx) a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting Certificate furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders3.10, respectively, shall comply with Regulation AB and set setting forth at least the following information concerning as to the Certificates or Securities, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the amount of such distribution allocable to principal of each class of Record Date, the NotesDetermination Date and the Collection Period; (ii) the amount Note Interest Distributable Amount for each Class of Notes and the distribution, if any, allocable to interest on or with respect to each class of NotesCertificate Principal Distributable Amount; (iii) [Reserved]the Note Principal Distributable Amount for each Class of Notes and the Certificate Principal Distributable Amount; (iv) the Aggregate Receivables number of and the aggregate Principal Balance of the Receivables as of the close of business on the last first day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the and last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution DateCollection Period; (v) the Note Principal Balance for Outstanding Amount of each class Class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class Class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount Certificate Balance and the Certificate Pool Factor; (vii) the Total Servicing Fee, the Trust Fees and Expenses, and any other fees or expenses paid with an identification of the Class A general purpose of such fees and the party receiving such fees or expenses; (viii) the Noteholders’ Interest Carryover Shortfall, the Class B Interest Noteholders’ Principal Carryover Shortfall, the Class C Certificateholders’ Interest Carryover Shortfall and the Class D Interest Certificateholders’ Principal Carryover Shortfall; (ix) the Interest Rate and Certificate Rate for the immediately succeeding Interest Accrual Period; (x) the beginning and ending principal balances of the Notes and Certificates; (xi) the pool characteristics as of the last day of the related Collection Period, including, but not limited to, the weighted average Interest Rate and weighted average remaining term to maturity; (xii) the Available Amounts; (xiii) delinquency and loss information for the related Collection Period; (xiv) the amount of non-recoverable Advances; (xv) any material modifications, extensions or waivers to the terms of the Receivables; (xvi) any material breaches of representations or warranties related to the Receivables; (xvii) the Yield Supplement Amount, the Yield Supplement Withdrawal Amount and the amount on deposit in the Yield Supplement Account after giving effect to the distributions made on such Payment Date; and (xviii) the balance on deposit in the Reserve Fund on such Payment Date, after giving effect to distributions made on the Payment Date, if any, and the change in each of such amounts balance from the immediately preceding Distribution Payment Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreementthe Issuer, but not later than the latest date permitted by law, the Indenture related Trustee and the Owner Trustee shall mailshall, upon written request, mail to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereonSecurityholder, a statement containing such information as may be required statement, prepared by the Code and Servicer, containing certain information for such calendar year or, in the event such Person shall have been a Securityholder during a portion of such calendar year, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Securityholder’s preparation of federal income tax returns. In addition, the Servicer shall furnish to the Trustees for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Honda Auto Receivables 2015-3 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2015-3 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2013-1 Owner Trust)

Statements to Securityholders. (a) On each Distribution Determination Date, the Owner Trustee Servicer shall (except as otherwise provided in the Trust Agreement) deliver provide to each Certificateholder, and the Indenture Trustee shall include (with each distribution a copy to each NoteholderPaying Agent (if any)) for the Indenture Trustee to forward to, or make available to, each Noteholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent (if any)) for the Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date a statement (which statement shall also be provided by the Servicer in electronic format acceptable to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set Indenture Trustee setting forth at least the following information concerning as to the Certificates or Securities to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (ia) the amount of such distribution collections received with respect to the Receivables during the related Collection Period and allocable to principal principal, and the aggregate amount paid or distributed in respect of interest on each class Class of the NotesNotes on such Payment Date; (iib) the amount of the distribution, if any, allocable to interest on or collections received with respect to the Receivables during the related Collection Period and allocable to interest, and the aggregate amount paid or distributed in respect of principal on each class Class of NotesNotes on such Payment Date; (iii) [Reserved]; (ivc) the Aggregate Receivables Principal Balance as number of the close of business on the last day of such Monthly PeriodReceivables, the Aggregate Receivables Principal Pool Balance and the Adjusted Pool Balance, in each case as of the close of business on the last day of the second Monthly related Collection Period, and of the close of business on the last day of the immediately preceding Collection Period preceding such Distribution Date (oror as of the Cutoff Date, for in the case of the first Distribution Determination Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date); (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vid) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall Servicing Fee and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Supplemental Servicing Fee paid to the Servicer with respect to the related Monthly Collection Period; (xe) the amountamount of fees, expenses and indemnification amounts due and payable to each of the Indenture Trustee, the Owner Trustee and the Asset Representations Reviewer, before and after giving effect to payments on the related Payment Date; (f) the Outstanding Amount of each Class of Notes and the Note Pool Factor for each such Class as of the close of business on the related Payment Date, before and after giving effect to payments allocated to principal reported under clause (a) above; (g) the amount of any interest carryover shortfall on such Payment Date and the change, if any, and purpose of any other fees or expenses accrued or paidin such amounts from those with respect to the immediately preceding Payment Date; (xih) the amountaggregate amounts of Realized Losses, if any, distributed with respect to Noteholders from amounts on deposit in the Reserve Accountrelated Collection Period; (xiii) the amount, if any, of excess cash distributed from Yield Supplement Overcollateralization Amount for the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)related Payment Date; (xiiij) the balance of the Reserve Account on such Distribution Date (that Payment Date, before and after giving effect to changes therein on deposits and withdrawals to be made in respect of such Distribution Payment Date), if any; (xivk) [Reserved]the amount of any deposit to the Reserve Account and the amount and application of any funds withdrawn from the Reserve Account with respect to such Payment Date; (xvl) cash flows received the aggregate Principal Balance of all Receivables that became Liquidated Receivables or Purchased Receivables during the related Monthly Period and their sourcesCollection Period; (xvim) the aggregate Principal Balance and number and dollar amount of Receivables at the beginning and end that are 30 to 59 days, 60 to 89 days, 90 to 119 days or 120 days or more delinquent as of the applicable Monthly last day of the related Collection Period; (n) any Available Amounts Shortfall after giving effect to payments on the related Payment Date, and updated pool composition information any change in such amounts from the preceding statement; (o) the aggregate Principal Balance and number of all Receivables with respect to which the related Financed Vehicle was repossessed; (p) the amount to be distributed to the Certificate Distribution Account on the related Payment Date; (q) the Target Overcollateralization Amount for the related Payment Date; (r) the applicable Record Date, Determination Date, Interest Period and Payment Date for each Class of Notes; (s) the weighted average Interest Rate and weighted average remaining term to maturity of the Receivables as of the end of the Monthly related Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviit) the Outstanding Amount of each Class of Notes as a percentage of the Outstanding Amount of all Classes of Notes as of the close of business on the related Payment Date, before and after giving effect to payments allocated to principal reported under clause (a) above; (u) delinquency and loss information with respect to the Receivables for the period and related Collection Period, including a description of any material changes change in determining or defining delinquencies, practices with respect to charge-offs offs, collection and uncollectible accountsmanagement of delinquent Receivables, and the effect of any grace period, re-aging, re-structuring, partial payments or other practices on delinquency and loss experience; (xviiiv) the amount a description of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or Receivables terms, fees, penalties or payments on, pool assets during the distribution period related Collection Period, or that, cumulatively, that have cumulatively become material over time; (xxw) the outstanding notional amount a description of the Certificates any material breaches of representations and warranties made with respect to the extent Receivables, or covenants, contained in the Certificates are held by Persons other than Ally Bank or its AffiliatesBasic Documents; (xxix) the amount of Servicer Advances for the related Collection Period; and (y) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary occurred as of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) end of the Trust Sale Agreement; related Collection Period. The amount or interest or principal allocable to a Class of Notes, as described in clauses (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(ha) and Item 1125 of Regulation AB; and (xxviiib) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchaseabove, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall also be expressed as a dollar amount per $1,000 of initial original principal amount of the Notes. related Note. The Indenture Trustee will make such report (band, at its option, any additional files containing the same information in an alternative format) Within available each month to Noteholders and the prescribed period of time for tax reporting purposes after Administrator via the end of each calendar year during Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “http:/xxx.xxxxxx.xxx/xxx”. Assistance in using the term of this Agreementwebsite can be obtained by calling the Indenture Trustee’s customer service desk at (000) 000-0000. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by requesting the same in writing sent to the Corporate Trust Office and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the Owner acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall mail, be entitled to each Person who at rely on but shall not be responsible for the content or accuracy of any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required provided to it by the Code Administrator and applicable Treasury Regulations to enable such securityholder to prepare the Servicer and may affix thereto any disclaimer it deems appropriate in its federal income tax returnsreasonable discretion.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (BMW Vehicle Owner Trust 2018-A), Sale and Servicing Agreement (BMW Vehicle Owner Trust 2018-A), Sale and Servicing Agreement (BMW Vehicle Owner Trust 2016-A)

Statements to Securityholders. (a) On each Distribution Payment Date, the Servicer shall provide to the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to furnish to each Certificateholder, Certificateholder of record and to the Indenture Trustee shall include with each distribution to make available to each NoteholderNoteholder of record (by posting on its website at hxxxx://xxx.xxx.xx.xxx/xxxxxxxxxxxx) a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting Certificate furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders3.10, respectively, shall comply with Regulation AB and set setting forth at least the following information concerning as to the Certificates or Securities, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the amount of such distribution allocable to principal of each class of Record Date, the NotesDetermination Date and the Collection Period; (ii) the amount Note Interest Distributable Amount for each Class of Notes and the distribution, if any, allocable to interest on or with respect to each class of NotesCertificate Principal Distributable Amount; (iii) [Reserved]the Note Principal Distributable Amount for each Class of Notes and the Certificate Principal Distributable Amount; (iv) the Aggregate Receivables number of and the aggregate Principal Balance of the Receivables as of the close of business on the last first day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the and last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution DateCollection Period; (v) the Note Principal Balance for Outstanding Amount of each class Class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class Class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount Certificate Balance and the Certificate Pool Factor; (vii) the Total Servicing Fee, the Trust Fees and Expenses, and any other fees or expenses paid with an identification of the Class A general purpose of such fees and the party receiving such fees or expenses; (viii) the Noteholders’ Interest Carryover Shortfall, the Class B Interest Noteholders’ Principal Carryover Shortfall, the Class C Certificateholders’ Interest Carryover Shortfall and the Class D Interest Certificateholders’ Principal Carryover Shortfall; (ix) the Interest Rate and Certificate Rate for the immediately succeeding Interest Accrual Period; (x) the beginning and ending principal balances of the Notes and Certificates; (xi) the pool characteristics as of the last day of the related Collection Period, including, but not limited to, the weighted average Interest Rate and weighted average remaining term to maturity; (xii) the Available Amounts; (xiii) delinquency and loss information for the related Collection Period; (xiv) the amount of non-recoverable Advances; (xv) any material modifications, extensions or waivers to the terms of the Receivables; (xvi) any material breaches of representations or warranties related to the Receivables; (xvii) the Yield Supplement Amount, the Yield Supplement Withdrawal Amount and the amount on deposit in the Yield Supplement Account after giving effect to the distributions made on such Payment Date; and (xviii) the balance on deposit in the Reserve Fund on such Payment Date, after giving effect to distributions made on the Payment Date, if any, and the change in each of such amounts balance from the immediately preceding Distribution Payment Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreementthe Issuer, but not later than the latest date permitted by law, the Indenture related Trustee and the Owner Trustee shall mailshall, upon written request, mail to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereonSecurityholder, a statement containing such information as may be required statement, prepared by the Code and Servicer, containing certain information for such calendar year or, in the event such Person shall have been a Securityholder during a portion of such calendar year, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Securityholder’s preparation of federal income tax returns. In addition, the Servicer shall furnish to the Trustees for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Honda Auto Receivables 2015-2 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2015-2 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2013-3 Owner Trust)

Statements to Securityholders. (a) On With respect to each Distribution Payment Date, the Owner Servicer shall forward to the Indenture Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall (except as otherwise provided in the Trust Agreement) deliver forward or cause to be forwarded by mail to each Certificateholder, Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and the Indenture Trustee shall include with each distribution to each NoteholderRating Agency, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set setting forth the following information concerning as to the Certificates or Notes and Certificates, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the aggregate amount of such distribution allocable (a) Security Interest Collections with respect to principal of each class of the NotesNotes and the Certificates, (b) aggregate Security Principal Collections with respect to the Notes and the Certificates and (c) Security Collections for the related Collection Period with respect to the Notes and the Certificates; (ii) the amount of such distribution to the distribution, if any, allocable Securityholders of the Notes and the Certificates applied to interest reduce the principal balance thereof and separately stating the portion thereof in respect of the Accelerated Principal Distribution Amount and the amount to be deposited in the Funding Account on or with respect to each class of Notessuch Payment Date; (iii) [Reserved]the amount of such distribution to the Securityholders of the Notes and the Certificates allocable to interest and separately stating the portion thereof in respect of overdue accrued interest; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly PeriodCredit Enhancement Draw Amount, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (orif any, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) such Payment Date and the Principal Distributable Amount for such Distribution Dateaggregate amount of prior draws thereunder not yet reimbursed; (v) the Note aggregate Principal Balance for each class of Notes and (a) the Aggregate Note Principal Balance________ Loans, and (b) the Note Pool Factor for each class of Notes______ Loans, each (c) the _________ Loans, as of such Distribution Date after giving effect to the end of the preceding Collection Period and (d) all payments described under clause (i) aboveof the Mortgage Loans; (vi) the amount number and aggregate Principal Balances of Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-179 days and 180 or more days, respectively and (b) that have become REO, in each case as of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each end of such amounts from the preceding Distribution Collection Period; provided, however, that such information will not be provided on the statements relating to the first Payment Date; (vii) the amount of such distribution allocable to Weighted Average Net Mortgage Rate for the Certificateholdersrelated Collection Period and the Weighted Average Net Mortgage Rate for (a) the ________ Loans, (b) the _______Loans and (c) the _________ Loans for the related Collection Period; (viii) any the Special Capital Distribution Amount and the Required Special Capital Distribution Amount, in each case as the end of the related Collection Period; and (ix) the aggregate amount of Additional Loans acquired during the previous Collection Period with amounts paid in respect of Net Principal Collections from the Funding Account; (x) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount of any remaining Carryover Loss Amount with respect to the Notes and Certificates, respectively, and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as a percentage of the sum of (a) the Cut-Off Date Pool Balance and (b) the amount by which the Pool Balance as of the latest date that the Additional Loans have been transferred to the Company exceeds the Cut-Off Date Pool Balance; (xi) any unpaid interest on the Notes and Certificates, respectively, after such Distribution Date; (xii) the aggregate Principal Balance of each Class of Notes and of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiii) the respective Security Percentage applicable to the Notes and Certificates, after application of payments made on such Payment Date; and (xiv) the amount distributed pursuant to Section 3.05(a)(xi) of the Indenture Trusteeon such Payment Date. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate with a $1,000 denomination. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Company, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the IndentureDepositor, the Trust AgreementCertificate Paying Agent and the Indenture Trustee setting forth (i) all the foregoing information, this Servicing Agreement, (ii) the Asset Representations Review Agreement or aggregate amounts required to be withdrawn from the Administration Agreement, respectively, paid Collection Account and deposited into the Payment Account on the Business Day preceding the Payment Date pursuant to Section 4.06(c); 3.03 and (ixiii) the amount of amounts (A) withdrawn from the Basic Servicing Fee paid Payment Account and deposited to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Funding Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 8.02(b) of the Trust Agreement, then to such Certificate Distribution Indenture and (B) withdrawn from the Funding Account for distribution and deposited to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Collection Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b8.02(c)(i) of the Indenture; (xxvi) information with respect to any change . The determination by the Servicer of such amounts shall, in the Asset Representations Reviewer as required by Item 1121(d)(2) absence of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchaseobvious error, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant be presumptively deemed to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time correct for tax reporting all purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee hereunder and the Owner Trustee and Indenture Trustee shall mailbe protected in relying upon the same without any independent check or verification. In addition, to each Person who at any time during such calendar year upon the Company's written request, the Servicer shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such promptly furnish information as may be required reasonably requested by the Code and applicable Treasury Regulations Company that is reasonably available to the Servicer to enable such securityholder the Company to prepare perform its federal and state income tax returnsreporting obligations.

Appears in 3 contracts

Samples: Servicing Agreement (Boardwalk Mortgage Securities Inc.), Servicing Agreement (Park Place Securities, Inc.), Servicing Agreement (Citigroup Commercial Mortgage Securities Inc)

Statements to Securityholders. (a) On With respect to each Distribution Payment Date, the Owner Servicer shall forward to the Indenture Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall (except as otherwise provided in the Trust Agreement) deliver forward or cause to be forwarded by mail to each Certificateholder, Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and the Indenture Trustee shall include with each distribution to each NoteholderRating Agency, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set setting forth the following information concerning as to the Certificates or Notes and Certificates, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the aggregate amount of such distribution allocable (a) Security Interest Collections with respect to principal of each class of the NotesNotes and the Certificates, (b) aggregate Security Principal Collections with respect to the Notes and the Certificates and (c) Security Collections for the related Collection Period with respect to the Notes and the Certificates; (ii) the amount of such distribution to the distribution, if any, allocable Securityholders of the Notes and the Certificates applied to interest reduce the principal balance thereof and separately stating the portion thereof in respect of the Accelerated Principal Distribution Amount and the amount to be deposited in the Funding Account on or with respect to each class of Notessuch Payment Date; (iii) [Reserved]the amount of such distribution to the Securityholders of the Notes and the Certificates allocable to interest and separately stating the portion thereof in respect of overdue accrued interest; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly PeriodCredit Enhancement Draw Amount, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (orif any, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) such Payment Date and the Principal Distributable Amount for such Distribution Dateaggregate amount of prior draws thereunder not yet reimbursed; (v) the Note aggregate Principal Balance for each class of Notes and (a) the Aggregate Note Principal Balance________ Loans, and (b) the Note Pool Factor for each class of Notes________ Loans, each (c) the _________ Loans, as of such Distribution Date after giving effect to the end of the preceding Collection Period and (d) all payments described under clause (i) aboveof the Mortgage Loans; (vi) the amount number and aggregate Principal Balances of Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-179 days and 180 or more days, respectively and (b) that have become REO, in each case as of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each end of such amounts from the preceding Distribution Collection Period; PROVIDED, HOWEVER, that such information will not be provided on the statements relating to the first Payment Date; (vii) the amount of such distribution allocable to Weighted Average Net Mortgage Rate for the Certificateholdersrelated Collection Period and the Weighted Average Net Mortgage Rate for (a) the _______ Loans, (b) the _______Loans and (c) the _________ Loans for the related Collection Period; (viii) any the Special Capital Distribution Amount and the Required Special Capital Distribution Amount, in each case as the end of the related Collection Period; and (ix) the aggregate amount of Additional Loans acquired during the previous Collection Period with amounts paid in respect of Net Principal Collections from the Funding Account; (x) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount of any remaining Carryover Loss Amount with respect to the Notes and Certificates, respectively, and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as a percentage of the sum of (a) the Cut-Off Date Pool Balance and (b) the amount by which the Pool Balance as of the latest date that the Additional Loans have been transferred to the Company exceeds the Cut-Off Date Pool Balance; (xi) any unpaid interest on the Notes and Certificates, respectively, after such Distribution Date; (xii) the aggregate Principal Balance of each Class of Notes and of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiii) the respective Security Percentage applicable to the Notes and Certificates, after application of payments made on such Payment Date; and (xiv) the amount distributed pursuant to Section 3.05(a)(xi) of the Indenture Trusteeon such Payment Date. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate with a $1,000 denomination. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Company, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the IndentureDepositor, the Trust AgreementCertificate Paying Agent and the Indenture Trustee setting forth (i) all the foregoing information, this Servicing Agreement, (ii) the Asset Representations Review Agreement or aggregate amounts required to be withdrawn from the Administration Agreement, respectively, paid Collection Account and deposited into the Payment Account on the Business Day preceding the Payment Date pursuant to Section 4.06(c); 3.03 and (ixiii) the amount of amounts (A) withdrawn from the Basic Servicing Fee paid Payment Account and deposited to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Funding Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 8.02(b) of the Trust Agreement, then to such Certificate Distribution Indenture and (B) withdrawn from the Funding Account for distribution and deposited to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Collection Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b8.02(c)(i) of the Indenture; (xxvi) information with respect to any change . The determination by the Servicer of such amounts shall, in the Asset Representations Reviewer as required by Item 1121(d)(2) absence of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchaseobvious error, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant be presumptively deemed to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time correct for tax reporting all purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee hereunder and the Owner Trustee and Indenture Trustee shall mailbe protected in relying upon the same without any independent check or verification. In addition, to each Person who at any time during such calendar year upon the Company's written request, the Servicer shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such promptly furnish information as may be required reasonably requested by the Code and applicable Treasury Regulations Company that is reasonably available to the Servicer to enable such securityholder the Company to prepare perform its federal and state income tax returnsreporting obligations.

Appears in 3 contracts

Samples: Servicing Agreement (Long Beach Securities Corp), Servicing Agreement (WaMu Asset Acceptance Corp.), Servicing Agreement (WaMu Asset Acceptance Corp.)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.09 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]the amount of such distribution allocable to the Certificateholders; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Trust Sale and Servicing Agreement, the Pooling and Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ixviii) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (xix) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xix) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xiixi) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiixii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xivxiii) [Reserved]LIBOR for such Distribution Date so long as any tranche of Floating Rate Notes are outstanding and the interest rate on each tranche of Floating Rate Notes; (xvxiv) cash flows received during the related Monthly Period and their sources; (xvixv) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviixvi) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiixvii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xixxviii) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xxxix) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its AffiliatesCertificates; (xxixx) whether a Delinquency Trigger has been met or exceeded; (xxiixxi) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiiixxii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxivxxiii) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv2.05(c)(iv) of the Trust Sale this Agreement; (xxvxxiv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvixxv) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviiixxvi) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xix), (xiixi), and (xiiixii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 3 contracts

Samples: Trust Sale and Servicing Agreement, Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2016-2), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2016-2)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreementi) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each NoteholderNoteholder of record as of the related Record Date and (ii) the Owner Trustee shall include with each distribution to each Certificateholder of record as of the related Record Date a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer Master Servicer, based on the information in the Servicer’s Accounting Distribution Date Statement furnished pursuant to Section 2.09. Each 4.09, setting forth for such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth Distribution Date the following information concerning as of the Certificates related Record Date or the Notessuch Distribution Date, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodcase may be: (i) the amount of such distribution allocable to principal (stated separately for each Class of each class of the Notes); (ii) the amount of the distribution, if any, such distribution allocable to interest on or with respect to (stated separately for each class Class of Notes); (iii) [Reserved]the Interest Distributable Amount for each Class of Notes; (iv) the amount of any Interest Carryover Shortfall on such Distribution Date and the change in such amounts from those with respect to the immediately preceding Distribution Date; (v) the amount of the Servicing Fee paid to the Master Servicer with respect to the related Collection Period; (vi) the Class A Principal Distributable Amount, the Class B Principal Distributable Amount, the Class C Principal Distributable Amount and the Class D Principal Distributable Amount; (vii) with respect to each Class of Notes, the excess, if any, of the amount distributable in respect of principal on such Class of Notes over the amount allocated for the payment of principal on such Class of Notes; (viii) the Aggregate Receivables Net Liquidation Losses for the related Collection Period; (ix) the aggregate Principal Balance of Delinquent Contracts as of the close of business on the last day of such Collection Period; (x) the Aggregate Principal Balance as of the close of business on the last day of such Monthly Collection Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (vxi) the Note Principal Balance for principal amount of each class Class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date Date, after giving effect to all payments described allocated to principal reported under clause (i) above; (vixii) the Certificate Distributable Amount; (xiii) the amount of on deposit in the Class A Interest Carryover ShortfallSpread Account on such Distribution Date, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if anyafter giving effect to distributions made on such Distribution Date, and the change in each of such amounts balance from the immediately preceding Distribution Date; (viixiv) the Overcollateralization Amount and the amount of such distribution allocable to by which the Certificateholders; (viii) any amounts paid to Aggregate Principal Balance exceeds the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the outstanding principal amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date Notes (after giving effect to changes therein any payments made to Holders of the Notes on such that Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period Spread Account Withdrawal Amount and their sources;the Excess Spread Account Amount; and (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or CertificatesNet Collections. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), iv) and (xiiiv) above shall be expressed in the aggregate and as a dollar amount per $1,000 of initial 1,000.00 original principal amount of the Notesa Note. (b) Within the prescribed a reasonable period of time for tax reporting purposes after the end of each calendar year during year, but not later than the term of this Agreementlatest date permitted by law, the Indenture Trustee and the Owner Trustee shall mail, mail to each Person who at any time during such calendar year shall have been a holder Holder of Notes or Certificates, respectively, and received any payments thereon, a Note a statement containing such information as may be required or statements, prepared by the Code Master Servicer, which in the aggregate contain the sum of the amounts set forth in clauses (i), (ii), (iv) and (v) of 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 Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Noteholder's preparation of federal income tax returns. In addition, the Master Servicer shall furnish to the Indenture Trustee for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (WFS Receivables Corp 3), Sale and Servicing Agreement (WFS Receivables Corp 4), Sale and Servicing Agreement (WFS Receivables Corp 3)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreementi) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each NoteholderNoteholder of record as of the related Record Date, and (ii) the Owner Trustee shall include with each distribution to each Certificateholder of record as of the related Record Date, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) statement, prepared by the Servicer Master Servicer, based on the information in the Servicer’s Accounting Distribution Date Statement furnished pursuant to Section 2.09. Each 4.09, setting forth for such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth Distribution Date the following information concerning as of the Certificates related Record Date or the Notessuch Distribution Date, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodcase may be: (i) the amount of such distribution allocable to principal (stated separately for each Class of each class of Notes and the NotesCertificates); (ii) the amount of the distribution, if any, such distribution allocable to interest on or with respect to (stated separately for each class Class of NotesNotes and the Certificates); (iii) [Reserved]the Note Percentage and the Certificate Percentage as of the close of business on the last day of such Due Period; (iv) the Aggregate Receivables Principal Scheduled Balance as of the close of business on the last day of such Monthly Due Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class amount of Notes and the Aggregate Note Principal Balance, and Servicing Fee paid to the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect Master Servicer with respect to all payments described under clause (i) abovethe related Due Period; (vi) the amount of the Class A any Certificate Interest Carryover Shortfall, the Class B Interest Certificate Principal Carryover Shortfall, the Class C Note Interest Carryover Shortfall and the Class D Interest Note Principal Carryover Shortfall, if any, Shortfall on such Distribution Date and the change in each of such amounts from those with respect to the immediately preceding Distribution Date; (vii) the amount Note Pool Factor for each Class of Notes and the Certificate Pool Factor as of such distribution allocable Distribution Date, after giving effect to the Certificateholders;payments allocated to principal reported under clause (i) above; and (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Spread Account on such Distribution Date (Date, after giving effect to changes therein distributions made on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate change in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates balance from the purchase, sale or other disposition of such Notes or Certificatesimmediately preceding Distribution Date. Each amount set forth pursuant to clauses subclauses (i), (ii), (vi), iv) or (xi), (xii), and (xiiiv) above shall be expressed as a dollar amount per $1,000 1,000.00 of initial original principal amount of a Note or original Certificate Balance, as the Notescase may be. (b) Within the prescribed a reasonable period of time for tax reporting purposes after the end of each calendar year during year, but not later than the term of this Agreementlatest date permitted by law, the Indenture Owner Trustee and the Owner Trustee Indenture Trustee, as the case may be, shall mail, mail to each Person who at any time during such calendar year shall have been a holder Holder of Notes a Note or Certificatesa Certificate, respectively, and received any payments thereon, a statement containing such information as may be required or statements, prepared by the Code Master Servicer, which in the aggregate contain the sum of the amounts set forth in clauses (i), (ii), (iv) and (v) above for such calendar year or, in the event such Person shall have been a Holder of a Note or a Certificate during a portion of such calendar year, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Noteholder's or Certificateholder's preparation of federal income tax returns. In addition, the Master Servicer shall furnish to the Owner Trustee and the Indenture Trustee for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (WFS Financial Auto Loans Inc), Sale and Servicing Agreement (WFS Financial Auto Loans Inc), Sale and Servicing Agreement (WFS Financial Auto Loans Inc)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreementi) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each NoteholderNoteholder of record as of the related Record Date, and (ii) the Trust Agent shall include with each distribution to each Certificateholder of record as of the related Record Date, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) statement, prepared by the Servicer Servicer, based on the information in the Servicer’s Accounting Distribution Date Statement furnished pursuant to Section 2.09. Each 3.09, setting forth for such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth Distribution Date the following information concerning as of the Certificates related Record Date or the Notessuch Distribution Date, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodcase may be: (i) the amount of such distribution allocable to principal (stated separately for each Class of each class Notes and the Certificates), separately identifying the aggregate amount included therein of the Notesany (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 the distribution, if any, such distribution allocable to interest on or with respect to (stated separately for each class Class of NotesNotes and the Certificates); (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance Note Percentage and the Certificate Percentage as of the close of business on the last day of such Monthly Collection Period, ; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) Certificate Distributable Amount and the Principal Note Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and Premium payable to the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) aboveInsurer; (vi) the amount of to be on deposit in the Class A Interest Carryover ShortfallSpread Account on such Distribution Date, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall before and the Class D Interest Carryover Shortfall, if any, after giving effect to deposits thereto and the change withdrawals therefrom to be made in each respect of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable the withdrawal, if any, required to be made from the CertificateholdersSpread Account by the Indenture Trustee pursuant to Section 4.04(b); (viii) any amounts paid the aggregate Servicing Fee with respect to the Indenture Trustee, Contracts for the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)related Collection Period; (ix) the amount of the Basic Servicing Fee fees paid to the Servicer Owner Trustee, the Trust Agent and the Indenture Trustee, with respect to the related Monthly Collection Period; (x) the amount, if any, and purpose amount of any other fees or expenses accrued or paidNote Interest Carryover Shortfall, Note Principal Carryover Shortfall, Certificate Interest Carryover Shortfall and Certificate Principal Carryover Shortfall on such Distribution Date and the change in such amounts from those with respect to the immediately preceding Distribution Date; (xi) the amountnumber of, if anyand aggregate amount of, distributed to Noteholders from amounts monthly principal and interest payments due on deposit in the Reserve AccountContracts which are delinquent as of the end of the related Collection Period presented on a 30-day, 60-day and 90-day basis; (xii) the amountNet Collections and the Policy Claim Amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate for such Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)Date; (xiii) the balance aggregate amount of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date)Liquidation Proceeds received for Defaulted Contracts; (xiv) [Reserved]the net credit losses and Cram Down Losses for the Collection Period; (xv) cash flows received during the related Monthly Period number and their sources;net outstanding balance of Contracts for which the Financed Vehicle has been repossessed; and (xvi) the number Pool Balance, the Note Pool Factor for each Class of Notes and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information Certificate Pool Factor as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating Distribution Date after giving effect to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in made on such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or CertificatesDistribution Date. Each amount set forth pursuant to clauses subclauses (i), ) or (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 1,000.00 of initial original principal amount of a Note or original Certificate Balance, as the Notescase may be. (b) Within the prescribed a reasonable period of time for tax reporting purposes after the end of each calendar year during year, but not later than the term of this Agreementlatest date permitted by law, the Servicer shall prepare and furnish to the Issuer, the Indenture Trustee and each Paying Agent, and the Owner Trustee Paying Agent for the Notes and the Paying Agent for the Certificates shall mail, furnish to each Person who at on any time Record Date during such calendar year shall have been a holder Holder of Notes a Note or Certificatesa Certificate, respectively, and received any payments thereon, 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 may be required by is reasonably necessary for the Code and preparation of such Person's federal income tax return in respect of the Notes or Certificates or, in the event such Person shall have been a Holder of a Note or a Certificate during a portion of such calendar year, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Noteholder's or Certificateholder's preparation of federal income tax returns.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (Onyx Acceptance Financial Corp), Sale and Servicing Agreement (Onyx Acceptance Financial Corp), Sale and Servicing Agreement (Onyx Acceptance Financial Corp)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.10 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D C Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders[Reserved]; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)[Reserved]; (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);Certificateholder, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Collection Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 3 contracts

Samples: Trust Sale and Servicing Agreement (Ally Auto Receivables Trust 2010-2), Trust Sale and Servicing Agreement (Ally Auto Receivables Trust 2010-2), Trust Sale and Servicing Agreement (Ally Auto Receivables Trust 2010-1)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver include with each distribution to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting 's Certificate furnished pursuant to Section 2.093.10. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning as to the Certificates with respect to such Distribution Date or the Notespreceding Monthly Period, as appropriate, applicable. Each such statement to be delivered to Noteholders shall set forth the following information as to the Notes with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such the distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of NotesSecurities; (iii) [Reserved]; (ivii) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, ; (iii) the Aggregate amount of Outstanding Monthly Advances with respect to all Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (viiv) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Total Servicing Fee paid or payable to the Servicer with respect to the related Monthly Period; (v) the amount of Aggregate Losses for the related Monthly Period; (vi) the Delinquency Percentage for the related Monthly Period; (vii) the sum of all Administrative Purchase Payments and all Warranty Payments made for the related Monthly Period; (viii) the amount of the distribution allocable to principal of each class of Notes and to the Certificate Balance of each class of Certificates; (ix) the Note Principal Balance and the Note Pool Factor for each class of Notes, and the Certificate Balance and the Certificate Pool Factor for each class of Certificates, each after giving effect to all payments reported under (viii) above on such date; (x) the amountamounts, if any, and purpose of any other fees paid to the Servicer or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders Securityholders from amounts on deposit in the Reserve Account; (xiixi) the amountamount of the Noteholders' Interest Carryover Shortfall, the Noteholders' Principal Carryover Shortfall, the Certificateholders' Interest Carryover Shortfall and the Certificateholders' Principal Carryover Shortfall, if any, of excess cash distributed and the change in such amounts from the Reserve Account to the Certificateholders (or if the Certificate preceding Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);Date; and (xiiixii) the balance (if any) of the Reserve Account on such Distribution Date (date, after giving effect to changes therein distributions, withdrawals, transfers and deposits made on such date, and the change in such balance from that of the prior Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (iiiv), (viviii), (xi), (xii), x) and (xiiixi) above shall be expressed as a dollar amount per $1,000 of initial principal amount Note Principal Balance or the initial Certificate Balance, as applicable. In lieu of preparing and delivering a separate statement to Securityholders pursuant to this Section, a Trustee may deliver a copy of the NotesServicer's Certificate furnished pursuant to Section 3.10. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Servicer shall prepare and execute and the Indenture Trustee and the Owner Trustee shall mail, mail to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required prepared and supplied by the Code Servicer containing the sum of the amounts set forth in each of clauses (i), (iv), (viii), (x) and (xi), for such calendar year or, if such Person shall have been a Securityholder during a portion of such calendar year and received any payments thereon, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Securityholder's preparation of federal income tax returns.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Navistar Financial Retail Receivables Corporation), Pooling and Servicing Agreement (Navistar Financial Retail Receivables Corporation), Pooling and Servicing Agreement (Navistar Financial Retail Receivables Corporation)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.09 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]the amount of such distribution allocable to the Certificateholders ; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) aboveabove and to all reinvestments described under clause (xiv) below; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall, the Class D Interest Carryover Shortfall and the Class D E Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of Negative Carry Amount, if any, on such distribution allocable to the CertificateholdersDistribution Date; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (xix) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xix) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xiixi) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiixii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiii) LIBOR for such Distribution Date during the Revolving Period and so long as any class or tranche of Floating Rate Notes are outstanding and the interest rate on each class or tranche of Floating Rate Notes; (xiv) [Reserved]the Aggregate Additional Receivables Principal Balance for such Distribution Date (related to the Revolving Period only); (xv) the balance of the Accumulation Account after giving effect to payments to and distributions from such account on such Distribution Date (related to the Revolving Period only); (xvi) cash flows received during the related Monthly Collection Period and their sources; (xvixvii) whether the Revolving Period has terminated early as a result of the occurrence of an Early Amortization Event (related to the Revolving Period only); (xviii) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviixix) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiixx) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xixxxi) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xix), (xiixi), and (xiiixii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 3 contracts

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2015-4), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2015-2), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2015-2)

Statements to Securityholders. (a) On With respect to each Distribution Payment Date, the Owner Servicer shall forward to the Indenture Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall (except as otherwise provided in the Trust Agreement) deliver forward or cause to be forwarded by mail to each Certificateholder, Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and the Indenture Trustee shall include with each distribution to each NoteholderRating Agency, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set setting forth the following information concerning as to the Certificates or Notes and Certificates, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the aggregate amount of such distribution allocable (a) Security Interest Collections with respect to principal of each class of the NotesNotes and the Certificates, (b) aggregate Security Principal Collections with respect to the Notes and the Certificates and (c) Security Collections for the related Collection Period with respect to the Notes and the Certificates; (ii) the amount of such distribution to the distribution, if any, allocable Securityholders of the Notes and the Certificates applied to interest reduce the principal balance thereof and separately stating the portion thereof in respect of the Accelerated Principal Distribution Amount and the amount to be deposited in the Funding Account on or with respect to each class of Notessuch Payment Date; (iii) [Reserved]the amount of such distribution to the Securityholders of the Notes and the Certificates allocable to interest and separately stating the portion thereof in respect of overdue accrued interest; (iv) the Aggregate Receivables Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (v) the aggregate Principal Balance of (a) the ________ Loans, (b) the ______ Loans, (c) the _________ Loans, as of the end of the preceding Collection Period and (d) all of the Mortgage Loans; (vi) the Weighted Average Net Mortgage Rate for the related Collection Period and the Weighted Average Net Mortgage Rate for the aggregate of the Stated Principal Balance of (A) all of the Mortgage Loans and (B) the Adjustable Rate Mortgage Loans, for the following Collection Period; (vii) the Special Capital Distribution Amount and the Required Special Capital Distribution Amount, in each case as the end of the related Collection Period; and (viii) the aggregate amount of Additional Loans acquired during the previous Collection Period with amounts in respect of Net Principal Collections from the Funding Account; (ix) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount of any remaining Carryover Loss Amount with respect to the Notes and Certificates, respectively, and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as a percentage of the sum of (a) the Cut-Off Date Pool Balance and (b) the amount by which the Pool Balance as of the close of business latest date that the Additional Loans have been transferred to the Company exceeds the Cut-Off Date Pool Balance; (x) any unpaid interest on the last day of Notes and Certificates, respectively, after such Monthly Period, Distribution Date; (xi) the Aggregate Receivables aggregate Principal Balance of each Class of Notes and of the Certificates after giving effect to the distribution of principal on such Payment Date; (xii) the respective Security Percentage applicable to the Notes and Certificates, after application of payments made on such Payment Date; (xiii) the amount distributed pursuant to Section 3.05(a)(xi) of the Indenture on such Payment Date; (xiv) the applicable record dates, accrual periods, determination dates for calculating distributions and general distribution dates; (xv) the total cash flows received and the general sources thereof; (xvi) the related amount of the Servicing Fees paid to or retained by the Master Servicer for the related Due Period; (xvii) the amount of any Net Swap Payment payable to the Derivative Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Derivative Administrator and any Swap Termination Payment payable to the Swap Provider; (xviii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates; (xix) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date; (xx) the number and Stated Principal Balance of the Mortgage Loans in each Loan Group in respect of which (A) one Scheduled Payment is Delinquent, (B) two Scheduled Payments are Delinquent, (C) three or more Scheduled Payments are Delinquent and (D) foreclosure proceedings have been commenced, in each case as of the close of business on the last day of the second Monthly Period calendar month preceding such Distribution Date (or, and separately identifying such information for the (1) first Distribution Datelien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group; PROVIDED, HOWEVER, that such information will not be provided on the Initial Aggregate Receivables Principal Balance) and statements relating to the Principal Distributable Amount for such Distribution first Payment Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vixxi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit Advances included in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein including the general purpose of such Advances), the aggregate amount of unreimbursed Advances at the close of business on such the Distribution Date), and the general source of funds for reimbursements; (xivxxii) [Reserved]the cumulative amount of Applied Realized Loss Amounts to date; (xvxxiii) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Periodif applicable, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or Mortgage Loan terms, fees, penalties or payments on, pool assets during the distribution period preceding calendar month or that, cumulatively, that have become material over time; (xxxxiv) with respect to any Mortgage Loan that was liquidated during the outstanding notional amount preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the Certificates to close of business on the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in Determination Date preceding such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale AgreementDistribution Date; (xxv) the total number and principal balance of any voting instructions and procedures pursuant to Section 5.17(b) real estate owned or REO Properties as of the Indentureclose of business on the Determination Date preceding such Distribution Date; (xxvi) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information with respect to any change in for the Asset Representations Reviewer as required by Item 1121(d)(2(1) of Regulation ABfirst lien Mortgage Loans, and (2) Adjustable Rate Mortgage Loans; (xxvii) any asset level information as required by Item 1111(h) the Realized Losses during the related Prepayment Period and Item 1125 the cumulative Realized Losses through the end of Regulation AB; andthe preceding month; (xxviii) whether a Trigger Event exists; (xxix) updated pool composition data including the nature following with respect to each Loan Group: average loan balance, weighted average mortgage rate, weighted average loan-to-value ratio at origination, weighted average FICO at origination weighted average remaining term; and amount [NOTE - Item 1121(a)(8) requires updated pool composition information, the foregoing is a suggestion of what to provide] (xxx) information about any additions of, substitutions for or removal of any material change Mortgage Loans from the Trust Fund, and any changes in the Seller’s underwriting, acquisition or an Affiliate’s interest in selection criteria as to any Mortgage Loans added to the Notes or Certificates from Trust Fund. In the purchase, sale or other disposition case of such Notes or Certificates. Each amount set forth information furnished pursuant to clauses (i), (ii), (vi), (xi), (xii), ) and (xiiiiii) above above, the amounts shall be expressed as a an aggregate dollar amount per Note or Certificate with a $1,000 denomination. Prior to the close of initial principal amount of business on the Notes. (b) Within Business Day next succeeding each Determination Date, the prescribed period of time for tax reporting purposes after Servicer shall furnish a written statement to the end of each calendar year during Company, the term of this AgreementOwner Trustee, the Depositor, the Certificate Paying Agent and the Indenture Trustee setting forth (i) all the foregoing information, (ii) the aggregate amounts required to be withdrawn from the Collection Account and deposited into the Payment Account on the Business Day preceding the Payment Date pursuant to Section 3.03 and (iii) the amounts (A) withdrawn from the Payment Account and deposited to the Funding Account pursuant to Section 8.02(b) of the Indenture and (B) withdrawn from the Funding Account and deposited to the Collection Account pursuant to Section 8.02(c)(i) of the Indenture. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Indenture Trustee shall mailbe protected in relying upon the same without any independent check or verification. In addition, to each Person who at any time during such calendar year upon the Company's written request, the Servicer shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such promptly furnish information as may be required reasonably requested by the Code and applicable Treasury Regulations Company that is reasonably available to the Servicer to enable such securityholder the Company to prepare perform its federal and state income tax returnsreporting obligations.

Appears in 2 contracts

Samples: Servicing Agreement (American Home Mortgage Securities LLC), Servicing Agreement (BNP Paribas Mortgage Securities LLC)

Statements to Securityholders. (a) On each Distribution Payment Date, the Servicer shall provide to the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to furnish to each Certificateholder, Certificateholder of record and to the Indenture Trustee shall include with each distribution to make available to each NoteholderNoteholder of record (by posting on its website at xxxx://xxx.xxxxxx.xxx/abs) a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting Certificate furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders3.10, respectively, shall comply with Regulation AB and set setting forth at least the following information concerning as to the Certificates or Securities, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the amount of such distribution allocable to principal of each class of Record Date, the NotesDetermination Date and the Collection Period; (ii) the amount Note Interest Distributable Amount for each Class of Notes and the distribution, if any, allocable to interest on or with respect to each class of NotesCertificate Principal Distributable Amount; (iii) [Reserved]the Note Principal Distributable Amount for each Class of Notes and the Certificate Principal Distributable Amount; (iv) the Aggregate Receivables number of and the aggregate Principal Balance of the Receivables as of the close of business on the last first day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the and last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution DateCollection Period; (v) the Note Principal Balance for Outstanding Amount of each class Class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class Class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount Certificate Balance and the Certificate Pool Factor; (vii) the Total Servicing Fee, the Trust Fees and Expenses, and any other fees or expenses paid with an identification of the Class A general purpose of such fees and the party receiving such fees or expenses; (viii) the Noteholders’ Interest Carryover Shortfall, the Class B Interest Noteholders’ Principal Carryover Shortfall, the Class C Certificateholders’ Interest Carryover Shortfall and the Class D Interest Certificateholders’ Principal Carryover Shortfall; (ix) the Interest Rate and Certificate Rate for the immediately succeeding Interest Accrual Period; (x) the beginning and ending principal balances of the Notes and Certificates; (xi) the pool characteristics as of the last day of the related Collection Period, including, but not limited to, the weighted average Interest Rate and weighted average remaining term to maturity; (xii) the Available Amounts; (xiii) delinquency and loss information for the related Collection Period; (xiv) the amount of non-recoverable Advances; (xv) any material modifications, extensions or waivers to the terms of the Receivables; (xvi) any material breaches of representations or warranties related to the Receivables; (xvii) the Yield Supplement Amount, the Yield Supplement Withdrawal Amount and the amount on deposit in the Yield Supplement Account after giving effect to the distributions made on such Payment Date; and (xviii) the balance on deposit in the Reserve Fund on such Payment Date, after giving effect to distributions made on the Payment Date, if any, and the change in each of such amounts balance from the immediately preceding Distribution Payment Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreementthe Issuer, but not later than the latest date permitted by law, the Indenture related Trustee and the Owner Trustee shall mailshall, upon written request, mail to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereonSecurityholder, a statement containing such information as may be required statement, prepared by the Code and Servicer, containing certain information for such calendar year or, in the event such Person shall have been a Securityholder during a portion of such calendar year, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Securityholder’s preparation of federal income tax returns. In addition, the Servicer shall furnish to the Trustees for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Honda Auto Receivables 2015-1 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2015-1 Owner Trust)

Statements to Securityholders. (a) On each Distribution Date, the AART Owner Trustee shall (except as otherwise provided in the Trust Agreement) shall deliver to each Certificateholder, and the AART Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer Administrator to the Rating Agencies) prepared by the Servicer Administrator and provided to the AART Indenture Trustee and the AART Owner Trustee, based on information in the ServicerAdministrator’s Accounting furnished pursuant to Section 2.092.06. Each such statement to be delivered or otherwise made available to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) Determination Dates and Distribution Dates used to calculate distributions on the Notes and any Certificates; (ii) the amount of such distribution allocable to principal of each class of the NotesNotes and the amount of any distribution to the Certificates; (iiiii) the amount of the distribution, if any, allocable to any interest on or with respect to each class of the Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and Notes, the Aggregate Note Principal Balance, Balance and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause clauses (iii) and (iii) above; (v) the First Priority Principal Distributable Amount, the Second Priority Principal Distributable Amount, the Third Priority Principal Distributable Amount and the Noteholders’ Regular Principal Distributable Amount for such Distribution Date; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D C Interest Carryover Shortfall, if any, and the change in each of such amounts amount from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts Administration Fee paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) and the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (viii) the interest rate on each class of Notes for such Distribution Date; (ix) the Secured Note Rate; (x) the amount, if any, aggregate amount in the Payment Ahead Servicing Account and purpose the change in that amount during the related Monthly Period; Table of any other fees or expenses accrued or paid;Contents (xi) the amount, if any, distributed to Noteholders from amounts amount on deposit in the Reserve Account, if any, on such Distribution Date, after giving effect to any withdrawals or deposits on such date, and the Reserve Account Required Amount on such date; (xii) the amount, if any, of excess cash distributed to the Noteholders, the Certificateholders and the Depositor from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)Account; (xiii) the balance aggregate amounts of Monthly Payment Advances and of Residual Advances made by the Reserve Account on such Distribution Date (after giving effect Servicer under the Servicing Agreement with respect to changes therein on such Distribution Date)the Monthly Period; (xiv) [Reserved]the amount of any Pull Ahead Payments made by Ally Financial, in its capacity as agent for any Lease OEM, under the Pull Ahead Funding Agreement and the number of Lease Assets that became Pull Ahead Lease Assets during the related Monthly Period; (xv) cash flows received the amount of Aggregate Residual Losses or credit losses on the Lease Assets during the related Monthly Period and their sourcesthe aggregate amount of residual or credit losses on the Lease Assets since the Cutoff Date; (xvi) the number and dollar amount Aggregate ABS Value of Receivables the Lease Assets at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepaymentsprepayment rates; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurredaggregate Warranty Payment; (xix) the aggregate Administrative Purchase Payment; and (xx) purchase price of Lease Assets repurchased by the Servicer due to any material modifications, extensions or waivers relating to the terms of of, or fees, penalties or payments on, pool assets Lease Assets during the distribution period Distribution Period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (iii), (iiiii), (vi), (xi), ) and (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) On each Distribution Date, the AART Indenture Trustee shall make available to each Noteholder a copy of the Servicer’s Certificate as delivered to the AART Indenture Trustee by the Servicer pursuant to Section 2.15 of the Servicing Agreement. (c) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the AART Indenture Trustee and the AART Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder Holder of Notes or Certificates, respectively, and received any payments or distributions thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder Securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Administration Agreement (Ally Auto Receivables Trust 2013-Sn1), Administration Agreement (Ally Auto Receivables Trust 2013-Sn1)

Statements to Securityholders. On or before the Master Servicer Reporting Date, the Master Servicer shall prepare a statement as to such distribution and deliver such statement to the Trustee. On such Distribution Date the Trustee shall forward such statement by mail to each Securityholder, setting forth: (a) On the amount of such distribution to the Holders of Securities of such Class to be applied to reduce the Security Principal Balance thereof, separately identifying the amounts, if any, of any prepayments; (b) the amount of such distribution to the Holders of Securities of such Class allocable to interest, and the Pass-Through Rate applicable to each Class; (c) the amount of the Master Servicing Fee to be paid to the Master Servicer on such Distribution Date; and such other customary information as the Master Servicer deems necessary or desirable, or which a Securityholder reasonably requests, to enable Securityholders to prepare their tax returns; (d) the aggregate amount of outstanding Advances, together with Non- Recoverable Advances, if any, at the close of business on such Distribution Date; (e) the aggregate Scheduled Principal Balance of the Mortgage Assets as of such Distribution Date and the number of Mortgage Assets outstanding on such Distribution Date; (f) the number and aggregate principal balance of Mortgage Assets (a) delinquent two months (i.e., 60 to 89 days), (b) delinquent three months (i.e., 90 days or longer) and (c) as to which foreclosure proceedings have been commenced; (g) the number and aggregate Unpaid Principal Balance of Mortgage Assets that are REOs; (h) the aggregate Security Principal Balance of each Class of Securities after giving effect to the distribution to be made on such Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based separately identifying any reduction thereof on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period:account of Realized Losses; (i) the amount of such distribution allocable to principal of each class of Realized Losses incurred during the Notesrelated Prepayment Period and since the Cut-off Date (separately identifying any Mortgagor Bankruptcy Losses, Special Hazard Losses and Fraud Losses, if they are separately allocated); (iij) the amount of Month End Interest Shortfall, Soldiers' and Sailors' Shortfall and Realized Interest Shortfall incurred during the distributionrelated Due Period; (k) the aggregate amount of interest remaining unpaid (exclusive of Shortfall and Realized Interest Shortfall allocated to such Class), if any, allocable for each Class of Securities, after giving effect to interest the distribution made on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (vl) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the aggregate amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfallwithdrawals, if any, from any Reserve Fund or under any Insurance Policy, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paidavailable thereunder; (xim) the amountSenior Percentage and Senior Prepayment Percentage, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein the distributions to be made, and Realized Losses allocated, on such Distribution Date);; and (xivn) [Reserved]; (xv) cash flows received during in the related Monthly Period and their sources; (xvi) the number and dollar amount case of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables a Trust with respect to which material breaches one or more REMIC elections have been or will be made, any reports required to be provided to Holders by the REMIC Provisions. In the case of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights furnished pursuant to clauses (a) and (b) above, the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information amounts shall be expressed, with respect to any change in Security, as a dollar amount per $1,000 denomination; provided, however, that if any Class of Securities does not have a Security Principal Balance, then the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above amounts shall be expressed as a dollar amount per $1,000 10% Percentage Interest. In addition to the Distribution Date report specified above, the Master Servicer shall prepare and deliver to the Trustee prior to each Distribution Date, and the Trustee shall forward to each Holder of initial principal a Residual Security, if any, on each Distribution Date a statement setting forth the amounts actually distributed with respect to the Residual Securities on such Distribution Date, the aggregate Security Principal Balance, if any, of the Residual Securities after giving effect to any distribution made on such Distribution Date, separately identifying the amount of Realized Losses allocated to such Residual Securities for the Notes. (b) preceding Prepayment Period. Within the prescribed a reasonable period of time for tax reporting purposes after the end of each calendar year during the term of this Agreementyear, the Indenture Trustee and the Owner Trustee shall mailprepare and furnish a statement, from information provided by the Master Servicer, containing the information set forth in clauses (a) through (c) above, to each Person who at any time during the calendar year was a Holder that constituted a retail investor or other Holder that requests such statement, aggregated for such calendar year or portion thereof during which such Person was a Securityholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in force. Within a holder reasonable period of Notes or Certificatestime after the end of each calendar year, respectively, the Master Servicer shall prepare and received the Trustee shall furnish to each Person who at any payments thereon, time during the calendar year was a Holder of a Residual Security a statement containing the information provided pursuant to the second preceding paragraph aggregated for such calendar year thereof during which such Person was a Securityholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information as may shall be required provided by the Trustee pursuant to any requirements of the Code and applicable Treasury Regulations as from time to enable such securityholder to prepare its federal income tax returnstime are in force.

Appears in 2 contracts

Samples: Pooling and Master Servicing Agreement (Southpoint Residential Mortgage Securities Corp), Pooling and Master Servicing Agreement (Fremont Mortgage Securities Corp)

Statements to Securityholders. (a) On each Distribution Payment Date, the Servicer shall provide to the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to furnish to each Certificateholder, Certificateholder of record and to the Indenture Trustee shall include with each distribution to forward to each NoteholderNoteholder of record a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting 's Certificate furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders3.10, respectively, shall comply with Regulation AB and set setting forth at least the following information concerning as to the Certificates or Securities, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the amount of such distribution allocable to principal principal, as allocated to each Class of Notes and to the Certificates (stated separately for each class Class of Notes and the NotesCertificates); (ii) the amount of the distribution, if any, such distribution allocable to interest on or with respect interest, as allocated to each class Class of NotesNotes and to the Certificates (stated separately for each Class of Notes and the Certificates); (iii) [Reserved]the Yield Supplement Amount, the Yield Supplement Withdrawal Amount and the amount on deposit in the Yield Supplement Account after giving effect to the distributions made on such Payment Date; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Pool Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (orrelated Collection Period, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described allocated to principal reported under clause (i) above; (v) the Note Distributable Amount, the Certificate Distributable Amount and the Available Amount; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Total Servicing Fee paid to the Servicer with respect to the related Monthly Collection Period; (vii) the amount of non-recoverable Advances; (viii) total Payments Ahead and the Applied Payments Ahead; (ix) the amount of Trust Fees and Expenses; (x) the amount, if any, and purpose amount of any other fees or expenses accrued or paidNote Interest Carryover Shortfall and Note Principal Carryover Shortfall on such Payment Date and the change in such amounts from those with respect to the immediately preceding Payment Date; (xi) the amount, if any, distributed amount of any Certificate Interest Carryover Shortfall and Certificate Principal Carryover Shortfall on such Payment Date and the change in such amounts from those with respect to Noteholders from amounts on deposit in the Reserve Accountimmediately preceding Payment Date; (xii) the amount, if any, Note Pool Factor for each Class of excess cash distributed from the Reserve Account to the Certificateholders (or if Notes and the Certificate Distribution Account has been established pursuant to Section 5.1 Pool Factor, in each case as of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)Payment Date; (xiii) the balance of on deposit in the Reserve Account Fund on such Distribution Date (Payment Date, after giving effect to changes therein distributions made on the Payment Date, if any, and the change in such Distribution balance from the immediately preceding Payment Date); (xiv) [Reserved]the amount available under the Servicer Letter of Credit, if any, and such amount as a percentage of the Pool Balance as of the last day of such Collection Period; (xv) cash flows received during the related Monthly Period determination date, accrual period and their sourcespayment date for each class of securities of that series; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information characteristics as of the end last day of the Monthly related Collection Period, such as including but not limited to, the weighted average coupon, weighted average life, interest rate and weighted average remaining term, and prepayments;term to maturity; and (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificatesrelated Collection Period. Each amount set forth pursuant to on the Payment Date statement under clauses (i), (ii), (vi), (xi), (xii), x) and (xiiixi) above shall be expressed as a dollar amount per $1,000 of initial original principal amount balance of a Note or the NotesOriginal Certificate Balance of a Certificate, as the case may be. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreementthe Issuer, but not later than the latest date permitted by law, the Indenture Trustee and the Owner related Trustee shall mail, mail to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereonSecurityholder, a statement containing such information as may be required statement, prepared by the Code and Servicer, containing certain information for such calendar year or, in the event such Person shall have been a Securityholder during a portion of such calendar year, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Securityholder's preparation of federal income tax returns. In addition, the Servicer shall furnish to the Trustees for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Honda Auto Receivables 2006-2 Owner Trust), Sale and Servicing Agreement (American Honda Receivables Corp)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.09 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]the amount of such distribution allocable to the Certificateholders; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) aboveabove and to all reinvestments described under clause (xiv) below; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall, the Class D Interest Carryover Shortfall and the Class D E Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of Negative Carry Amount, if any, on such distribution allocable to the CertificateholdersDistribution Date; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (xix) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xix) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xiixi) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiixii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiii) LIBOR for such Distribution Date and the interest rate on each class or tranche of Floating Rate Notes; (xiv) [Reserved]the Aggregate Additional Receivables Principal Balance for such Distribution Date (related to the Revolving Period only); (xv) the balance of the Accumulation Account after giving effect to payments to and distributions from such account on such Distribution Date (related to the Revolving Period only); (xvi) cash flows received during the related Monthly Collection Period and their sources; (xvixvii) whether the Revolving Period has terminated early as a result of the occurrence of an Early Amortization Event (related to the Revolving Period only); (xviii) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviixix) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiixx) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xixxxi) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xix), (xiixi), and (xiiixii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2013-3), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2013-3)

Statements to Securityholders. (a) On With respect to each Distribution Payment Date, on the Business Day following the related Determination Date, the Owner Trustee Servicer shall (except as otherwise provided in the Trust Agreement) deliver forward to each Certificateholder, and the Indenture Trustee shall include with each distribution a report containing the information found on their servicing system (Fidelity) in reports P139, P195, S214 and S215 and any additional information reasonably available to each Noteholder, a statement the Servicer as the Indenture Trustee may reasonably request in order for the Indenture Trustee to perform the calculations necessary to prepare the statements contemplated by this Section 4.01 (which statement shall also be the “Servicing Certificate”). Based solely on the information provided by the Servicer Servicer, upon which information it may conclusively rely without verification, the Indenture Trustee pursuant to Section 3.25 of the Indenture shall make available on its website initially located at “xxx.xxxxxx.xxx/xxx” to each Securityholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agencies) Agency, the Servicing Certificate setting forth the following information, together with the other information set forth in the monthly statement prepared by the Servicer based on information in the Servicer’s Accounting furnished Indenture Trustee pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth 3.25 of the following information concerning the Certificates or the NotesIndenture, as appropriateto the Notes and Certificates, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the aggregate amount of such distribution allocable to principal of (a) the Group I Interest Remittance Amount, (b) the Group I Principal Remittance Amount, (b) the Group 2 Interest Remittance Amount, (c) Group 0 Xxxxxxxxx Xxxxxxxxxx Xxxxxx, (x) the Additional Balance Advance Interest Distribution Amount and (e) Substitution Amounts for each class of the NotesLoan Group; (ii) the amount amounts paid in respect of the distribution, if any, allocable to interest on or with respect to each class of NotesAdditional Balances from the Custodial Account; (iii) [Reserved]with respect to each Loan Group the number and Aggregate Loan Balance of the Loans in such Loan Group as of the end of the related Collection Period; (iv) with respect to each Loan Group, the Aggregate Receivables number and aggregate Principal Balance Balances of Loans (a) as to which the Monthly Payment is Delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (b) that are foreclosed, (c) that have become REO, and (d) that have been finally liquidated due to being 180 days or more delinquent, in each case as of the close end of business the related Collection Period assuming twelve, thirty day months; provided, however, that such information will not be provided on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for statements relating to the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Payment Date; (v) with respect to each Loan Group, the Note Principal Balance weighted average Mortgage Interest Rate for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) aboverelated Collection Period; (vi) whether or not as an Amortization Event is in effect for the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution related Payment Date; (vii) the amount of such distribution allocable to Excluded Amounts, if any, received for the Certificateholdersapplicable Collection Period; (viii) any amounts paid with respect to the Indenture Trusteeeach Loan Group, the Owner Trustee, aggregate Servicing Fees for the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c);related Collection Period; and (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to each Loan Group, the aggregate amount recovered during the related Monthly Period; (x) Collection Period consisting of all subsequent recoveries on any Loan that was 180 days or more delinquent. The Servicer shall also forward to the amount, if any, and purpose of Indenture Trustee any other fees or expenses accrued or paid; (xi) information reasonably requested by the amount, if any, distributed Indenture Trustee necessary to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established make distributions pursuant to Section 5.1 3.05 of the Indenture. The Servicer agrees to perform the obligations of the Servicer set forth in Section 8.02 of the Trust Agreement, then to such Certificate Distribution Account for distribution Agreement set forth in Article XI of the Indenture. Prior to the Certificateholders close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating written statement to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name Certificate Paying Agent and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Payment Account prior to the related Payment Date pursuant to Section 3.03. The determination by the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change amounts shall, in the Asset Representations Reviewer as required by Item 1121(d)(2) absence of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchaseobvious error, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant be presumptively deemed to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time correct for tax reporting all purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee hereunder and the Owner Trustee and Indenture Trustee shall mailbe protected in relying upon the same without any independent check or verification. In addition, to each Person who at any time during such calendar year upon the Issuer’s written request, the Servicer shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such promptly furnish information as may be required reasonably requested by the Code and applicable Treasury Regulations Issuer that is reasonably available to the Servicer to enable such securityholder the Issuer to prepare perform its federal and state income tax returnsreporting obligations.

Appears in 2 contracts

Samples: Servicing Agreement (Irwin Whole Loan Home Equity Trust 2005-C), Servicing Agreement (Irwin Whole Loan Home Equity Trust 2005-B)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover ShortfallShortfall , if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders[Reserved]; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)[Reserved]; (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);Certificateholder, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Collection Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Servicing Agreement (Ally Auto Receivables Trust 2011-2), Servicing Agreement (Ally Auto Receivables Trust 2011-2)

Statements to Securityholders. (a) On or prior to each Distribution Payment Date, the Servicer shall provide to the Trustee and the Owner Trustee shall (except as otherwise provided with a copy to the Rating Agency) for the Trustee and the Owner Trustee to forward to each Securityholder of record (in the Trust Agreementcase of the Trustee, pursuant to Section 5.8(b)) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be or statements provided by the Servicer to in substantially the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set form attached hereto as Exhibit E setting forth at least the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodinformation: (i) the amount of such distribution any distributions allocable to principal of each class Class of the Notes; (ii) the amount of the distribution, if any, such distribution allocable to interest on or with respect to each class Class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Pool Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Daterelated Collection Period; (viv) the Note Principal Balance for each class Class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described allocated to principal reported under clause (i) above; (viv) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Collection Period, and the amount of any unpaid Servicing Fees and the change in such amount from the prior Payment Date; (xvi) the amount of the Backup Servicing Fee and the Trustee Fees paid to the Backup Servicer, the Trustee and the Owner Trustee, as applicable, with respect to the related Collection Period, and the amount of any unpaid Backup Servicing Fees and Trustee Fees and the change in all such amounts from the prior Payment Date; (vii) the Noteholders’ Interest Carryover Shortfall for each Class of Notes for such Payment Date; (viii) the amount, if any, paid to the Noteholders from the Series 2011-A Spread Account for such Payment Date; (ix) the aggregate amount in the Series 2011-A Spread Account and purpose the change in such amount from the previous Payment Date and the Specified Spread Account Requisite Amount for such Payment Date; (x) the number of any other fees Receivables and the aggregate net balance thereon for which the related Obligors are delinquent in making Scheduled Receivable Payments for (a) 31 to 60 days, (b) 61 to 90 days, and (c) 91 days or expenses accrued or paidmore; (xi) the amount, if any, distributed number and the aggregate Purchase Amounts for Receivables purchased by CPS or purchased by the Servicer during the related Collection Period and summary information as to Noteholders from amounts on deposit in the Reserve Accountlosses and delinquencies with respect to such Receivables; (xii) the amountPrincipal Balance of all Receivables that have become Liquidated Receivables, if anynet of Recoveries, of excess cash distributed from during the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)related Collection Period; (xiii) the balance cumulative Principal Balance of all Receivables that have become Liquidated Receivables, net of Recoveries, during the period from the Cutoff Date to the last day of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date)related Collection Period; (xiv) [Reserved]the amount of any Texas Franchise Tax due and owing by CPS under the Receivables Purchase Agreement to the taxing authority of the State of Texas on or prior to the related Payment Date or paid by CPS since the prior Payment Date; (xv) cash flows received during the related Monthly Period Three-Month Rolling Average Extension Ratio, the Cumulative Net Loss Rate, the Delinquency Ratio and their sources;the Three-Month Rolling Average Delinquency Ratio; and (xvi) the number and dollar amount of Receivables at aggregate Sale Amount with respect to Sold Receivables, if any, during the beginning and end of the applicable Monthly related Collection Period, and updated pool composition information as of . (b) Within 60 days after the end of each calendar year, the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating Servicer shall deliver to the terms Trustee a statement setting forth the amounts paid during such preceding calendar year in respect of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses paragraphs (i), (ii), (vi), (xi), (xii), v) and (xiiivi) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner above. The Trustee shall mail, mail a copy of such statement to each Person person who at any time during such preceding calendar year shall have been a holder Securityholder of Notes or Certificates, respectively, record and received any payments thereonpayment in respect of the Securities. (c) The Trustee may make available to the Securityholders, via the Trustee’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 statement containing password provided by the Trustee. The Trustee will make no representation or warranties as to the accuracy or completeness of such documents and will assume no responsibility therefor. The Trustee’s Internet Website shall be initially located at “wxx.XXXXxxx.xxx” or at such other address as shall be specified by the Trustee from time to time in writing to the Securityholders. In connection with providing access to the Trustee’s Internet Website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of information as may be in accordance with this Agreement. (d) The Servicer will supply to the Trustee, at the time and in the manner required by applicable Treasury Regulations, for further distribution to such Persons, and to the Code and extent, required by applicable Treasury Regulations information with respect to enable such securityholder to prepare its federal income tax returnsany “original issue discount” accruing on the Class C Notes and the Class D Notes.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc), Sale and Servicing Agreement (Consumer Portfolio Services Inc)

Statements to Securityholders. (a) On each Distribution Determination Date, the Owner Trustee Master Servicer shall (except as otherwise provided in the Trust Agreement) deliver provide to each Certificateholder, and the Indenture Trustee shall include (with each distribution a copy to each NoteholderRating Agency, the Underwriters and each Paying Agent (if any)) for the Indenture Trustee to forward, on the related Payment Date, to each Noteholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent (if any)) for the Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information substantially in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set form of Exhibit B setting forth at least the following information concerning as to the Certificates or Securities to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (ia) the amount of such distribution collections received with respect to the Receivables during the related Collection Period and allocable to principal for each Class of each class of the NotesNotes on such Payment Date; (iib) the amount of collections received with respect to the distribution, if any, Receivables during the related Collection Period and allocable to interest for each Class of Notes on or with respect to each class of Notesthe related Payment Date; (iii) [Reserved]; (ivc) the Aggregate Receivables Principal Balance Outstanding Amount of each Class of Notes and the Note Pool Factor for each such Class as of the close of business on the last day preceding Payment Date, after giving effect to payments allocated to principal reported under clause (a) above; (d) the amount of such Monthly the Servicing Fee paid to the Master Servicer on the related Payment Date; (e) the amount of the First Priority Principal Distribution Amount, if any, for the related Payment Date; (f) the amount of the Second Priority Principal Distribution Amount, if any, for the related Payment Date; (g) the amount of the Regular Note Principal Distribution Amount for the related Payment Date; (h) the aggregate amounts of Realized Losses, if any, and Cram Down Losses, if any, separately identified, with respect to the related Collection Period, ; (i) the Aggregate Receivables Principal Pool Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date related Collection Period, after giving effect to payments allocated to principal reported under clause (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balancea) and the Principal Distributable Amount for such Distribution Dateabove; (vj) the Note Principal Balance for each class balance of Notes and the Aggregate Note Principal Balance, and Reserve Account on the Note Pool Factor for each class of Notes, each as of such Distribution related Determination Date after giving effect to all payments described under clause (i) abovedeposits and withdrawals to be made on the related Payment Date, if any; (vik) the amount of any deposit to the Reserve Account and the amount and application of any funds withdrawn from the Reserve Account, in each case with respect to the related Payment Date; (l) the aggregate principal balance of all Receivables that became Liquidated Receivables or Purchased Receivables during the related Collection Period; (m) the aggregate principal balance and number of Receivables that are 31 to 60 days, 61 to 90 days or 91 days or more delinquent as of the last day of the related Collection Period; (n) the Class A A-1 Interest Carryover Shortfall, the Class A-2 Interest Carryover Shortfall, the Class A-3 Interest Carryover Shortfall, the Class A-4 Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, Shortfall and the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if anyin each case after giving effect to payments on the related Payment Date, and the any change in each of such amounts from the preceding Distribution Date;statement; and (viio) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amountaggregate Purchase Amounts for Receivables, if any, and purpose of any other fees that were or expenses accrued are to be purchased during or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or CertificatesCollection Period. Each amount set forth pursuant to on the Payment Date Statement under clauses (ia), (iib), (vid), (xie), (xiif), and (xiiig) or (n) above shall may also be expressed as a dollar amount per $1,000 of initial original principal amount balance of the Notesa Note. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Regions Auto Receivables Trust 2003-1), Sale and Servicing Agreement (Regions Acceptance LLC Regions Auto Receivables Tr 2003-2)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its AffiliatesCertificates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviiixxvii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Servicing Agreement (Ally Auto Receivables Trust 2016-3), Servicing Agreement (Ally Auto Receivables Trust 2016-3)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreementi) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each NoteholderNoteholder of record as of the related Record Date and (ii) the Owner Trustee shall include with each distribution to each Certificateholder of record as of the related Record Date a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer Master Servicer, based on the information in the Servicer’s Accounting Distribution Date Statement furnished pursuant to Section 2.09. Each 4.09, setting forth for such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth Distribution Date the following information concerning as of the Certificates related Record Date or the Notessuch Distribution Date, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodcase may be: (i) the amount of such distribution allocable to principal (stated separately for each Class of each class of the Notes); (ii) the amount of the distribution, if any, such distribution allocable to interest on or with respect to (stated separately for each class Class of Notes); (iii) [Reserved]the Interest Distributable Amount for each Class of Notes; (iv) the amount of any Interest Carryover Shortfall on such Distribution Date and the change in such amounts from those with respect to the immediately preceding Distribution Date; (v) the amount of the Servicing Fee paid to the Master Servicer with respect to the related Collection Period; (vi) the Class A Principal Distributable Amount, the Class B Principal Distributable Amount, the Class C Principal Distributable Amount and the Class D Principal Distributable Amount; (vii) with respect to each Class of Notes, the excess, if any, of the amount distributable in respect of principal on such Class of Notes over the amount allocated to principal on such Class of Notes; (viii) the Aggregate Receivables Net Liquidation Losses for the related Collection Period; (ix) the aggregate Principal Balance of Delinquent Contracts as of the close of business on the last day of such Collection Period; (x) the Aggregate Principal Balance as of the close of business on the last day of such Monthly Collection Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (vxi) the Note Principal Balance for principal balance of each class Class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date Date, after giving effect to all payments described allocated to principal reported under clause (i) above; (vixii) the Certificate Distributable Amount; (xiii) the amount of on deposit in the Class A Interest Carryover ShortfallSpread Account on such Distribution Date, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if anyafter giving effect to distributions made on such Distribution Date, and the change in each of such amounts balance from the immediately preceding Distribution Date; (viixiv) the Spread Account Withdrawal Amount and the Excess Spread Account Amount; (xv) the amount of such distribution allocable to the Certificateholders;Net Collections; and (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ixxvi) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein Optional Repurchase Payment payable on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses subclauses (i), (ii), (vi), iv) or (xi), (xii), and (xiiiv) above shall be expressed in the aggregate and as a dollar amount per $1,000 of initial 1,000.00 original principal amount of the Notesa Note. (b) Within the prescribed a reasonable period of time for tax reporting purposes after the end of each calendar year during year, but not later than the term of this Agreementlatest date permitted by law, the Indenture Trustee and the Owner Trustee shall mail, mail to each Person who at any time during such calendar year shall have been a holder Holder of Notes or Certificates, respectively, and received any payments thereon, a Note a statement containing such information as may be required or statements, prepared by the Code Master Servicer, which in the aggregate contain the sum of the amounts set forth in clauses (i), (ii), (iv) and (v) 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 Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Noteholder's preparation of federal income tax returns. In addition, the Master Servicer shall furnish to the Indenture Trustee for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (WFS Receivables Corp 3), Sale and Servicing Agreement (WFS Receivables Corp 3)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.09 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]the amount of such distribution allocable to the Certificateholders; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) aboveabove and to all reinvestments described under clause (xiv) below; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall, the Class D Interest Carryover Shortfall and the Class D E Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of Negative Carry Amount, if any, on such distribution allocable to the CertificateholdersDistribution Date; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (xix) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xix) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xiixi) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiixii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiii) LIBOR for such Distribution Date during the Revolving Period and so long as any class of Floating Rate Notes are outstanding and the interest rate on each class of Floating Rate Notes; (xiv) [Reserved]the Aggregate Additional Receivables Principal Balance for such Distribution Date (related to the Revolving Period only); (xv) the balance of the Accumulation Account after giving effect to payments to and distributions from such account on such Distribution Date (related to the Revolving Period only); (xvi) cash flows received during the related Monthly Collection Period and their sources; (xvixvii) whether the Revolving Period has terminated early as a result of the occurrence of an Early Amortization Event (related to the Revolving Period only); (xviii) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviixix) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiixx) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xixxxi) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xix), (xiixi), and (xiiixii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2014-3), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2014-3)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreementi) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each NoteholderNoteholder of record as of the related Record Date, and (ii) the Owner Trustee shall include with each distribution to each Certificateholder of record as of the related Record Date, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) statement, prepared by the Servicer Master Servicer, based on the information in the Servicer’s Accounting Distribution Date Statement furnished pursuant to Section 2.09. Each 4.09, setting forth for such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth Distribution Date the following information concerning as of the Certificates related Record Date or the Notessuch Distribution Date, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodcase may be: (i) the amount of such distribution allocable to principal (stated separately for each Class of each class of Notes and the NotesCertificates); (ii) the amount of the distribution, if any, such distribution allocable to interest on or with respect to (stated separately for each class Class of NotesNotes and the Certificates); (iii) [Reserved]the Note Percentage and the Certificate Percentage as of the close of business on the last day of such Due Period; (iv) the Aggregate Receivables Principal Scheduled Balance as of the close of business on the last day of such Monthly Due Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class amount of Notes and the Aggregate Note Principal Balance, and Servicing Fee paid to the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect Master Servicer with respect to all payments described under clause (i) abovethe related Due Period; (vi) the amount of the Class A any Certificate Interest Carryover Shortfall, the Class B Interest Certificate Principal Carryover Shortfall, the Class C Note Interest Carryover Shortfall and the Class D Interest Note Principal Carryover Shortfall, if any, Shortfall on such Distribution Date and the change in each of such amounts from those with respect to the immediately preceding Distribution Date; (vii) the amount Note Pool Factor for each Class of Notes and the Certificate Pool Factor as of such distribution allocable Distribution Date, after giving effect to the Certificateholders;payments allocated to principal reported under clause (i) above; and (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Spread Account on such Distribution Date (Date, after giving effect to changes therein distributions made on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate change in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates balance from the purchase, sale or other disposition of such Notes or Certificatesimmediately preceding Distribution Date. Each amount set forth pursuant to clauses subclauses (i), (ii), (vi), iv) or (xi), (xii), and (xiiiv) above shall be expressed as a dollar amount per $1,000 1,000.00 of initial original principal amount of a Note or original Certificate Balance, as the Notescase may be. (b) Within the prescribed a reasonable period of time for tax reporting purposes after the end of each calendar year during year, but not later than the term of this Agreementlatest date permitted by law, the Indenture Owner Trustee and the Owner Trustee Indenture Trustee, as the case may be, shall mail, mail to each Person who at any time during such calendar year shall have been a holder Holder of Notes a Note or Certificatesa Certificate, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.or statements,

Appears in 2 contracts

Samples: Sale and Servicing Agreement (WFS Financial 1998 a Owner Trust), Sale and Servicing Agreement (WFS Financial 1997-D Owner Trust)

Statements to Securityholders. (a) On With respect to each Distribution Payment Date, on the Business Day following the related Determination Date, the Owner Servicer shall forward to the Indenture Trustee the Loan information reasonably available to the Servicer with respect to the Loans as the Indenture Trustee may reasonably request in order for the Indenture Trustee to perform the calculations necessary to prepare the statements contemplated by this Section 4.01 (the "Servicing Certificate"). The Indenture Trustee pursuant to Section 3.23 of the Indenture shall (except as otherwise provided in the Trust Agreement) deliver forward or cause to be forwarded by mail to each Certificateholder, Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and the Indenture Trustee shall include with each distribution to each NoteholderRating Agency, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set setting forth the following information concerning as to the Certificates or Notes and Certificates, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the aggregate amount of such distribution allocable to principal of each class of the Notes(a) Interest Remittance Amount, (b) Principal Remittance Amount and (c) Substitution Amounts; (ii) the amount of such distribution as principal to the distribution, if any, allocable to interest on or with respect to each class of NotesNoteholders; (iii) [Reserved]the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Aggregate Receivables Principal Loan Balance of the Loans as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as end of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Daterelated Collection Period; (v) the Note number and aggregate Principal Balance for each class Balances of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each Loans (a) as of such Distribution Date after giving effect to all payments described under clause which (i) aboveone Monthly Payment is Delinquent, (ii) two Monthly Payments are Delinquent or (iii) three or more Monthly Payments are Delinquent, (b) that are foreclosed, (c) that have become REO, and (d) that have been finally liquidated due to being 180 days or more delinquent, in each case as of the end of the related Collection Period; provided, however, that such information will not be provided on the statements relating to the first Payment Date; (vi) the amount number, average balance, weighted average remaining term to maturity and weighted average Loan Rate of the Class A Interest Carryover Shortfall, Mortgage Loans as of the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution related Due Date; (vii) the amount of such distribution allocable Class Principal Balance after giving effect to the Certificateholdersdistribution of principal on such Payment Date; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)Certificate Distribution Amount immediately following such Payment Date; (ix) the amount of the Basic aggregate Servicing Fee paid to the Servicer with respect to Fees for the related Monthly Collection Period; (x) the amount, if any, Overcollateralization Amount and purpose of any other fees or expenses accrued or paidthe Targeted Overcollateralization Amount immediately following such Payment Date; (xi) the amount, if any, distributed number and principal amount of Capitalization Workouts pursuant to Noteholders from amounts on deposit in Section 3.02(a)(v) entered into since the Reserve AccountClosing Date; (xii) the amount, if any, aggregate amount recovered during the related Collection Period consisting of excess cash distributed from the Reserve Account to the Certificateholders (all subsequent recoveries on any Loan that was 180 days or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)more delinquent; (xiii) the balance of related Basis Risk Shortfall for the Reserve Account Class A, Class M-1 and Class B-1 Notes and the Available Funds Shortfall for the Class B-2 Notes on such Distribution Date (after giving effect to changes therein on such Distribution each Payment Date); (xiv) [Reserved]the applicable record dates, accrual periods and determination dates for determining distributions and general Payment Dates; (xv) the total cash flows received during and the related Monthly Period and their sourcesgeneral sources thereof; (xvi) the number and dollar amount Note Rate for each Class of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepaymentsNotes; (xvii) delinquency and loss information the aggregate amount of Advances for the period related Due Period (including the general purpose of such Advances), the aggregate amount of unreimbursed Advances at the close of business on the Payment Date, and any material changes in determining or defining delinquencies, charge-offs and uncollectible accountsthe general source of funds for reimbursements; (xviii) the aggregate amount of receivables with respect to which material breaches Realized Losses incurred during the related Due Period and the cumulative amount of pool asset representations or warranties or transaction covenants have occurredRealized Losses; (xix) any if applicable, material modifications, extensions or waivers relating to the terms of or Mortgage Loan terms, fees, penalties or payments on, pool assets during the distribution period preceding calendar month or that, cumulatively, that have become material over time;; and (xx) information about any additions of, substitutions for or removal of any Mortgage Loans from the outstanding notional amount of Trust Fund, and any changes in the Certificates underwriting, acquisition or selection criteria as to any Mortgage Loans added to the extent Trust Fund. In the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact case of information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth furnished pursuant to clauses (i), (ii), (vi), (xi), (xii), ) and (xiiiiii) above above, the amounts shall be expressed as a an aggregate dollar amount per Note or Certificate, as applicable, with a $1,000 of initial principal amount of the Notesdenomination. (b) Within In addition, with respect to each Payment Date, on the prescribed period of time Business Day following the related Determination Date, the Servicer shall forward to the Rating Agencies the following information for tax reporting purposes each Capitalization Workout entered into during the related Collection Period: (i) the original Loan amount; (ii) the Loan amount after the end Capitalization Workout; (iii) the original Monthly Payment amount; (iv) the Monthly Payment amount after the Capitalization Workout; (v) the Capitalized Amount as defined in Section 3.02(a)(v) herein; (vi) the Combined Loan-to-Value Ratio prior to the Capitalization Workout; (vii) the Combined Loan-to-Value Ratio after the Capitalization Workout; and (viii) if an appraisal was used in determining the Combined Loan-to-Value Ratio referred to in (vii) above, the type and date of each calendar year during the term of this Agreement, appraisal. The Servicer shall also forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Payment Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Indenture Trustee shall mailbe protected in relying upon the same without any independent check or verification. In addition, to each Person who at any time during such calendar year upon the Issuer's written request, the Servicer shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such promptly furnish information as may be required reasonably requested by the Code and applicable Treasury Regulations Issuer that is reasonably available to the Servicer to enable such securityholder the Issuer to prepare perform its federal and state income tax returnsreporting obligations.

Appears in 2 contracts

Samples: Servicing Agreement (Credit Suisse First Boston Mortgage Acceptance Corp), Servicing Agreement (PHH Mortgage Capital LLC)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.09 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]the amount of such distribution allocable to the Certificateholders ; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) aboveabove and to all reinvestments described under clause (xiv) below; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall, the Class D Interest Carryover Shortfall and the Class D E Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of Negative Carry Amount, if any, on such distribution allocable to the CertificateholdersDistribution Date; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (xix) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xix) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xiixi) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiixii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiii) LIBOR for such Distribution Date during the Revolving Period and so long as any class of Floating Rate Notes are outstanding and the interest rate on each tranche of Floating Rate Notes; (xiv) [Reserved]the Aggregate Additional Receivables Principal Balance for such Distribution Date (related to the Revolving Period only); (xv) the balance of the Accumulation Account after giving effect to payments to and distributions from such account on such Distribution Date (related to the Revolving Period only); (xvi) cash flows received during the related Monthly Collection Period and their sources; (xvixvii) whether the Revolving Period has terminated early as a result of the occurrence of an Early Amortization Event (related to the Revolving Period only); (xviii) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviixix) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiixx) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xixxxi) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xix), (xiixi), and (xiiixii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2015-1), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2015-1)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreementi) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each NoteholderNoteholder of record as of the related Record Date and (ii) the Owner Trustee shall include with each distribution to each Certificateholder of record as of the related Record Date a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer Master Servicer, based on the information in the Servicer’s Accounting Distribution Date Statement furnished pursuant to Section 2.09. Each 4.09, setting forth for such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth Distribution Date the following information concerning as of the Certificates related Record Date or the Notessuch Distribution Date, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodcase may be: (i) the amount of such distribution allocable to principal (stated separately for each Class of each class of the Notes); (ii) the amount of the distribution, if any, such distribution allocable to interest on or with respect to (stated separately for each class Class of Notes); (iii) [Reserved]the Interest Distributable Amount for each Class of Notes; (iv) the amount of any Interest Carryover Shortfall on such Distribution Date and the change in such amounts from those with respect to the immediately preceding Distribution Date; (v) the amount of the Servicing Fee paid to the Master Servicer with respect to the related Collection Period; (vi) the Class A Principal Distributable Amount, the Class B Principal Distributable Amount, the Class C Principal Distributable Amount and the Class D Principal Distributable Amount; (vii) with respect to each Class of Notes, the excess, if any, of the amount distributable in respect of principal on such Class of Notes over the amount allocated for the payment of principal on such Class of Notes; (viii) the Aggregate Receivables Net Liquidation Losses for the related Collection Period; (ix) the aggregate Principal Balance of Delinquent Contracts as of the close of business on the last day of such Collection Period; (x) the Aggregate Principal Balance as of the close of business on the last day of such Monthly Collection Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (vxi) the Note Principal Balance for principal amount of each class Class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date Date, after giving effect to all payments described allocated to principal reported under clause (i) above; (vixii) the Certificate Distributable Amount; (xiii) the amount of on deposit in the Class A Interest Carryover ShortfallSpread Account on such Distribution Date, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if anyafter giving effect to distributions made on such Distribution Date, and the change in each of such amounts balance from the immediately preceding Distribution Date; (viixiv) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) Overcollateralization Amount and the amount by which the Aggregate Principal Balance exceeds the Outstanding Amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date Notes (after giving effect to changes therein any payments made to Holders of the Notes on such that Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period disposition amounts withdrawn from the Spread Account, including the amounts used to increase the level of overcollateralization to the Overcollateralization Amount, and their sources;the Excess Spread Amount, if any, for such Distribution Date; and (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or CertificatesNet Collections. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), iv) and (xiiiv) above shall be expressed in the aggregate and as a dollar amount per $1,000 of initial 1,000.00 original principal amount of the Notesa Note. (b) Within the prescribed a reasonable period of time for tax reporting purposes after the end of each calendar year during year, but not later than the term of this Agreementlatest date permitted by law, the Indenture Trustee and the Owner Trustee shall mail, mail to each Person who at any time during such calendar year shall have been a holder Holder of Notes or Certificates, respectively, and received any payments thereon, a Note a statement containing such information as may be required or statements, prepared by the Code Master Servicer, which in the aggregate contain the sum of the amounts set forth in clauses (i), (ii), (iv) and (v) of 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 Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Noteholder's preparation of federal income tax returns. In addition, the Master Servicer shall furnish to the Indenture Trustee for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (WFS Receivables Corp 4), Sale and Servicing Agreement (WFS Receivables Corp 3)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer Trustee or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]LIBOR for such Distribution Date and the interest rate on each class or tranche of Floating Rate Notes; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Servicing Agreement (Ally Auto Assets LLC), Servicing Agreement (Ally Auto Receivables Trust 2013-2)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D C Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders[Reserved]; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)[Reserved]; (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);Certificateholder, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Collection Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Servicing Agreement (Ally Auto Receivables Trust 2011-1), Servicing Agreement (Ally Auto Receivables Trust 2011-1)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Administrator or the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Administration Agreement or the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its AffiliatesCertificates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviiixxvii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Servicing Agreement (Ally Auto Receivables Trust 2016-2), Servicing Agreement (Ally Auto Receivables Trust 2016-2)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.09 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]the amount of such distribution allocable to the Certificateholders; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) aboveabove and to all reinvestments described under clause (xiv) below; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall, the Class D Interest Carryover Shortfall and the Class D E Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of Negative Carry Amount, if any, on such distribution allocable to the CertificateholdersDistribution Date; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (xix) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xix) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xiixi) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiixii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiii) LIBOR for such Distribution Date during the Revolving Period and so long as any class or tranche of Floating Rate Notes are outstanding and the interest rate on each class or tranche of Floating Rate Notes; (xiv) [Reserved]the Aggregate Additional Receivables Principal Balance for such Distribution Date (related to the Revolving Period only); (xv) the balance of the Accumulation Account after giving effect to payments to and distributions from such account on such Distribution Date (related to the Revolving Period only); (xvi) cash flows received during the related Monthly Collection Period and their sources; (xvixvii) whether the Revolving Period has terminated early as a result of the occurrence of an Early Amortization Event (related to the Revolving Period only); (xviii) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviixix) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiixx) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xixxxi) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xix), (xiixi), and (xiiixii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2015-3), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2015-3)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.09 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]the amount of such distribution allocable to the Certificateholders ; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Trust Sale and Servicing Agreement, the Pooling and Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ixviii) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (xix) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xix) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xiixi) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiixii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xivxiii) [Reserved]LIBOR for such Distribution Date so long as any tranche of Floating Rate Notes are outstanding and the interest rate on each tranche of Floating Rate Notes; (xvxiv) cash flows received during the related Monthly Period and their sources; (xvixv) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviixvi) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiixvii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xixxviii) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xxxix) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its AffiliatesCertificates; (xxixx) whether a Delinquency Trigger has been met or exceeded; (xxiixxi) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiiixxii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxivxxiii) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv2.05(c)(iv) of the Trust Sale this Agreement; (xxvxxiv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvixxv) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviiixxvi) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xix), (xiixi), and (xiiixii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2016-1), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2016-1)

Statements to Securityholders. (a) On each Distribution Determination Date, the Owner Trustee Servicer shall (except as otherwise provided in the Trust Agreement) deliver provide to each Certificateholder, and the Indenture Trustee shall include (with each distribution a copy to each NoteholderRating Agency and each Paying Agent (if any)) for the Indenture Trustee to forward to, or make available to, each Noteholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent (if any)) for the Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date a statement (which statement shall also be provided by the Servicer in electronic format acceptable to the Rating Agencies) prepared by the Servicer based on information Indenture Trustee substantially in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set form of Exhibit B setting forth at least the following information concerning as to the Certificates or Securities to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (ia) the amount of such distribution collections received with respect to the Receivables during the related Collection Period and allocable to principal allocable to each Class of each class of the NotesNotes on such Payment Date; (iib) the amount of collections received with respect to the distribution, if any, Receivables during the related Collection Period and allocable to interest on or with respect allocable to each class Class of NotesNotes on such Payment Date; (iii) [Reserved]; (ivc) the Aggregate Receivables Principal Balance Outstanding Amount of each Class of Notes, the Note Pool Factor for each such Class as of the close of business on the last day related Payment Date, after giving effect to payments allocated to principal reported under clause (a) above; (d) the amount of such Monthly Periodthe Servicing Fee paid to the Servicer and the amount of any fees payable to the Owner Trustee, the Aggregate Receivables Principal Custodian or the Indenture Trustee with respect to the related Collection Period; (e) the amount of any interest carryover shortfall on such Payment Date and the change, if any, in such amounts from those with respect to the immediately preceding Payment Date; (f) the aggregate amounts of Realized Losses, if any, with respect to the related Collection Period; (g) the Pool Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (orrelated Collection Period, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described allocated to principal reported under clause (ia) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiih) the balance of the Reserve Account on such Distribution the related Determination Date (after giving effect to changes therein deposits and withdrawals to be made on such Distribution Payment Date), if any; (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiii) the amount of receivables any deposit to the Reserve Account and the amount and application of any funds withdrawn from the Reserve Account with respect to such Payment Date; (j) the aggregate principal balance of all Receivables that became Liquidated Receivables or Purchased Receivables during the related Collection Period; (k) the aggregate principal balance and number of Receivables that are 30 to 59 days, 60 to 89 days or 90 days or more delinquent as of the last day of the related Collection Period; (l) any Available Amounts Shortfall after giving effect to payments on such Payment Date, and any change in such amounts from the preceding statement; (m) the aggregate Purchase Amounts for Receivables, if any, that were or are to be purchased during or with respect to such Collection Period; (n) the aggregate Principal Balance and number of all Receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurredthe related Financed Vehicle was repossessed; (xixo) any material modifications, extensions or waivers relating the amount to be distributed to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over timeCertificate Distribution Account; (xxp) the outstanding notional amount aggregate Principal Balance and number of Receivables with respect to which the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its AffiliatesServicer granted a deferment; (xxiq) whether a Delinquency Trigger has been met or exceeded;the Yield Supplement Overcollateralization Amount for the next Payment Date (xxiir) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation ABTarget Credit Enhancement Overcollateralization Amount; and (xxviiis) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or CertificatesSpecified Credit Enhancement Amount. Each amount set forth pursuant to on the Payment Date statement under clauses (ia), (ii), b) or (vi), (xi), (xii), and (xiiil) above shall be expressed as a dollar amount per $1,000 of initial original principal amount balance of a Note. The Indenture Trustee will make such report (and, at its option, any additional files containing the Notessame information in an alternative format) available each month to Noteholders and the Rating Agencies via the Indenture Trustee's internet website. The Indenture Trustee's internet website shall initially be located at "www. (b) Within [________]". Such parties that are unable to use the prescribed period of time for tax reporting purposes after website are entitled to have a paper copy mailed to them via first class mail by requesting such in writing sent to the end of each calendar year during Corporate Trust Office and indicating such. The Indenture Trustee shall have the term of this Agreement, right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and the Owner Trustee shall mail, adequate notification to each Person who at all above parties regarding any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returnschanges.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (BMW Fs Securities LLC), Sale and Servicing Agreement (BMW Fs Securities LLC)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reservedthe net amount, if any, of any payments due under all Interest Rate Swaps (specifying, if applicable, any amounts owing as a result of an Early Termination Date under the Notes);]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) aboveabove [and to all reinvestments described under clause (xvi) below]; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall, Class D Interest Carryover Shortfall and the Class D E Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) [the aggregate amount in the Payment Ahead Servicing Account or on deposit with the Servicer as Payments Ahead and the change in such amount from the previous Distribution Date;] (viii) [the Negative Carry Amount, if any, on such Distribution Date;] (ix) the amount of such distribution allocable to the Certificateholders; (viiix) [any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c);] (ixxi) the amount of the Basic Servicing Fee [and the Additional Servicing Fee] paid to the Servicer with respect to the related Monthly Period; (xxii) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xixiii) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xiixiv) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);, (xiiixv) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xivxvi) [ReservedLIBOR for such Distribution Date during the Revolving Period and so long as any class of Floating Rate Notes are outstanding and the interest rate on each tranche of Floating Rate Notes;] (xvii) [the Aggregate Additional Receivables Principal Balance for such Distribution Date (related to the Revolving Period only); (xvxviii) the balance of the Accumulation Account after giving effect to payments to and distributions from such account on such Distribution Date (related to the Revolving Period only); (xix) cash flows received during the related Monthly Period and their sources; (xvixx) [whether the Revolving Period has terminated early as a result of the occurrence of an Early Amortization Event (related to the Revolving Period only)]; (xxi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviixxii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiixxiii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xixxxiv) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time[; (xxxxv) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its AffiliatesCertificates]; (xxixxvi) whether a Delinquency Trigger has been met or exceeded; (xxiixxvii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiiixxviii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxivxxix) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxvxxx) any voting instructions and procedures received from the Indenture Trustee pursuant to Section 5.17(b) of the Indenture; (xxvixxxi) [information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB;] (xxviixxxii) [for periods on or after November 23, 2016: any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB]; and (xxviiixxxiii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Servicing Agreement (Ally Auto Assets LLC), Servicing Agreement (Ally Auto Assets LLC)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.10 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]the net amount, if any, of any payments due under all Interest Rate Swaps (specifying, if applicable, any amounts owing as a result of an Early Termination Date under the Notes); (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D C Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders[Reserved]; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)[Reserved]; (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);Certificateholder, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]LIBOR for such Distribution Date and the interest rate on each class of Floating Rate Notes; (xv) cash flows received during the related Monthly Collection Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Trust Sale and Servicing Agreement (Ally Auto Receivables Trust 2010-3), Trust Sale and Servicing Agreement (Ally Auto Receivables Trust 2010-3)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer Trustee or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Servicing Agreement (Ally Auto Receivables Trust 2014-1), Servicing Agreement (Ally Auto Receivables Trust 2014-1)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.09 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]the amount of such distribution allocable to the Certificateholders ; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Trust Sale and Servicing Agreement, the Pooling and Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ixviii) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (xix) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xix) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xiixi) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiixii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xivxiii) [Reserved]LIBOR for such Distribution Date so long as any tranche of Floating Rate Notes is outstanding and the interest rate on each tranche of Floating Rate Notes; (xvxiv) cash flows received during the related Monthly Period and their sources; (xvixv) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviixvi) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiixvii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xixxviii) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xxxix) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its AffiliatesCertificates; (xxixx) whether a Delinquency Trigger has been met or exceeded; (xxiixxi) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiiixxii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxivxxiii) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv2.05(c)(iv) of the Trust Sale this Agreement; (xxvxxiv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvixxv) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviiixxvi) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xix), (xiixi), and (xiiixii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2016-3), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2016-3)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]LIBOR for such Distribution Date and the interest rate on each class or tranche of Floating Rate Notes; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its AffiliatesCertificates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviiixxvii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Servicing Agreement (Ally Auto Receivables Trust 2016-1), Servicing Agreement (Ally Auto Receivables Trust 2016-1)

Statements to Securityholders. (a) On each Distribution Determination Date, the Owner Trustee Servicer shall (except as otherwise provided in the Trust Agreement) deliver provide to each Certificateholder, and the Indenture Trustee shall include (with each distribution a copy to each NoteholderPaying Agent (if any)) for the Indenture Trustee to forward to, or make available to, each Noteholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent (if any)) for the Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date a statement (which statement shall also be provided by the Servicer in electronic format acceptable to the Rating Agencies) prepared by the Servicer based on information Indenture Trustee substantially in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set form of Exhibit B setting forth at least the following information concerning as to the Certificates or Securities to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (ia) the amount of such distribution collections received with respect to the Receivables during the related Collection Period and allocable to principal and the amount allocable to each Class of each class of the NotesNotes on such Payment Date; (iib) the amount of collections received with respect to the distribution, if any, Receivables during the related Collection Period and allocable to interest on or with respect and the amount allocable to each class Class of NotesNotes on such Payment Date; (iii) [Reserved]; (ivc) the Aggregate Receivables Principal Balance Outstanding Amount of each Class of Notes and the Note Pool Factor for each such Class as of the close of business on the last day related Payment Date, after giving effect to payments allocated to principal reported under clause (a) above; (d) the amount of the Servicing Fee paid to the Servicer and the amount of any fees payable to the Owner Trustee or the Indenture Trustee with respect to the related Collection Period; (e) the amount of any interest carryover shortfall on such Monthly Payment Date and the change, if any, in such amounts from those with respect to the immediately preceding Payment Date; (f) the aggregate amounts of Realized Losses, if any, with respect to the related Collection Period, ; (g) the Aggregate Receivables Principal Pool Balance and the Adjusted Pool Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (orrelated Collection Period, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described allocated to principal reported under clause (ia) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiih) the balance of the Reserve Account on such Distribution the related Determination Date (after giving effect to changes therein deposits and withdrawals to be made on such Distribution Payment Date), if any; (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiii) the amount of receivables any deposit to the Reserve Account and the amount and application of any funds withdrawn from the Reserve Account with respect to such Payment Date; (j) the aggregate Principal Balance of all Receivables that became Liquidated Receivables or Purchased Receivables during the related Collection Period; (k) the aggregate Principal Balance and number of Receivables that are 30 to 59 days, 60 to 89 days or 90 days or more delinquent as of the last day of the related Collection Period; (l) any Available Amounts Shortfall after giving effect to payments on such Payment Date, and any change in such amounts from the preceding statement; (m) the aggregate Principal Balance and number of all Receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurredthe related Financed Vehicle was repossessed; (xixn) any material modifications, extensions or waivers relating the amount to be distributed to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over timeCertificate Distribution Account; (xxo) the outstanding notional amount of Yield Supplement Overcollateralization Amount for the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliatesnext Payment Date; (xxip) whether a Delinquency Trigger has been met or exceededthe Target Overcollateralization Amount; (xxiiq) the name applicable Record Date, Determination Date, Interest Period and contact information Payment Date for each Class of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation ABNotes; and (xxviiir) the nature weighted average Interest Rate and amount weighted average remaining term to maturity of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or CertificatesReceivables. Each amount set forth pursuant to on the Payment Date statement under clauses (ia), (ii), b) or (vi), (xi), (xii), and (xiiil) above shall be expressed as a dollar amount per $1,000 of initial original principal amount of a Note. The Indenture Trustee will make such report (and, at its option, any additional files containing the Notes. same information in an alternative format) available each month to Noteholders and the Administrator via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “wxx.xx.xxxxxxxxxx.xxx”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (b000) Within 000-0000. Such parties that are unable to use the prescribed period of time for tax reporting purposes after website are entitled to have a paper copy mailed to them via first class mail by requesting the end of each calendar year during same in writing sent to the term of this AgreementCorporate Trust Office and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the Owner acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall mail, be entitled to each Person who at rely on but shall not be responsible for the content or accuracy of any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required provided to it by the Code Administrator and applicable Treasury Regulations to enable such securityholder to prepare the Servicer and may affix thereto any disclaimer it deems appropriate in its federal income tax returnsreasonable discretion.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (BMW Vehicle Owner Trust 2011-A), Sale and Servicing Agreement (BMW Vehicle Owner Trust 2011-A)

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Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its AffiliatesCertificates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Servicing Agreement (Ally Auto Receivables Trust 2017-1), Servicing Agreement (Ally Auto Receivables Trust 2017-1)

Statements to Securityholders. (a) On each Distribution Determination Date, the Owner Trustee Servicer shall (except as otherwise provided in the Trust Agreement) deliver provide to each Certificateholder, and the Indenture Trustee shall include (with each distribution a copy to each NoteholderRating Agency, JPMorgan and each Paying Agent (if any)) for the Indenture Trustee to forward to each Noteholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent (if any)) for the Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information substantially in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set form of Exhibit B setting forth at least the following information concerning as to the Certificates or Securities to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (ia) the amount of such distribution collections received with respect to the Receivables during the related Collection Period and allocable to principal allocable to each Class of each class of the NotesNotes on such Payment Date; (iib) the amount of collections received with respect to the distribution, if any, Receivables during the related Collection Period and allocable to interest on or with respect allocable to each class Class of NotesNotes on such Payment Date; (iii) [Reserved]; (ivc) the Aggregate Receivables Principal Balance Outstanding Amount of each Class of Notes, the Note Pool Factor for each such Class as of the close of business on the last day preceding Payment Date, after giving effect to payments allocated to principal reported under clause (a) above; (d) the amount of such Monthly Periodthe Servicing Fee paid to the Servicer and the amount of any fees payable to the Owner Trustee, the Aggregate Receivables Principal Custodian or the Indenture Trustee with respect to the related Collection Period; (e) the aggregate amounts of Realized Losses, if any, with respect to the related Collection Period; (f) the Pool Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (orrelated Collection Period, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described allocated to principal reported under clause (ia) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiig) the balance of the Reserve Account on such Distribution the related Determination Date (after giving effect to changes therein deposits and withdrawals to be made on such Distribution Payment Date), if any; (xivh) [Reserved]the amount of any deposit to the Reserve Account and the amount and application of any funds withdrawn from the Reserve Account with respect to such Payment Date; (xvi) cash flows received the aggregate principal balance of all Receivables that became Liquidated Receivables or Purchased Receivables during the related Monthly Period and their sourcesCollection Period; (xvij) the aggregate principal balance and number and dollar amount of Receivables at the beginning and end that are 30 to 59 days, 60 to 89 days or 90 days or more delinquent as of the applicable Monthly last day of the related Collection Period; (k) any Available Amounts Shortfall after giving effect to payments on such Payment Date, and any change in such amounts from the preceding statement; (l) the aggregate Purchase Amounts for Receivables, if any, that were or are to be purchased during or with respect to such Collection Period; (m) the aggregate Principal Balance and number of all Receivables with respect to which the related Financed Vehicle was repossessed; (n) the aggregate Principal Balance and number of Receivables with respect to which the Servicer granted a deferment; (o) for each such date during the Funding Period, the remaining amount in the Pre-Funding Account and updated pool composition information as of the Capitalized Interest Account; (p) the Pre-Funded Amount remaining following the end of the Monthly Period, such Funding Period that was not used to fund the purchase of Subsequent Receivables and is being passed through as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for payments on the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation ABNotes; and (xxviiiq) the nature and amount of any material change in Yield Supplement Overcollateralization Amount for the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificatesnext Payment Date. Each amount set forth pursuant to on the Payment Date statement under clauses (ia), (ii), b) or (vi), (xi), (xii), and (xiiik) above shall be expressed as a dollar amount per $1,000 of initial original principal amount balance of the Notesa Note. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (BMW Vehicle Owner Trust 2001-A), Sale and Servicing Agreement (BMW Vehicle Owner Trust 2001-A)

Statements to Securityholders. (a) On each Distribution Determination Date, the Owner Trustee Servicer shall (except as otherwise provided in the Trust Agreement) deliver provide to each Certificateholder, and the Indenture Trustee shall include (with each distribution a copy to each NoteholderPaying Agent (if any)) for the Indenture Trustee to forward to, or make available to, each Noteholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent (if any)) for the Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date a statement (which statement shall also be provided by the Servicer in electronic format acceptable to the Rating Agencies) prepared by the Servicer based on information Indenture Trustee substantially in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set form of Exhibit B setting forth at least the following information concerning as to the Certificates or Securities to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (ia) the amount of such distribution collections received with respect to the Receivables during the related Collection Period and allocable to principal and the amount allocable to each Class of each class of the NotesNotes on such Payment Date; (iib) the amount of collections received with respect to the distribution, if any, Receivables during the related Collection Period and allocable to interest on or with respect and the amount allocable to each class Class of NotesNotes on such Payment Date; (iii) [Reserved]; (ivc) the Aggregate Receivables Principal Balance Outstanding Amount of each Class of Notes and the Note Pool Factor for each such Class as of the close of business on the last day related Payment Date, after giving effect to payments allocated to principal reported under clause (a) above; (d) the amount of the Servicing Fee paid to the Servicer and the amount of any fees payable to the Owner Trustee or the Indenture Trustee with respect to the related Collection Period; (e) the amount of any interest carryover shortfall on such Monthly Payment Date and the change, if any, in such amounts from those with respect to the immediately preceding Payment Date; (f) the aggregate amounts of Realized Losses, if any, with respect to the related Collection Period, ; (g) the Aggregate Receivables Principal Pool Balance and the Adjusted Pool Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (orrelated Collection Period, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described allocated to principal reported under clause (ia) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiih) the balance of the Reserve Account on such Distribution the related Determination Date (after giving effect to changes therein deposits and withdrawals to be made on such Distribution Payment Date), if any; (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiii) the amount of receivables any deposit to the Reserve Account and the amount and application of any funds withdrawn from the Reserve Account with respect to such Payment Date; (j) the aggregate Principal Balance of all Receivables that became Liquidated Receivables or Purchased Receivables during the related Collection Period; (k) the aggregate Principal Balance and number of Receivables that are 30 to 59 days, 60 to 89 days, 90 to 119 days or 120 days or more delinquent as of the last day of the related Collection Period; (l) any Available Amounts Shortfall after giving effect to payments on such Payment Date, and any change in such amounts from the preceding statement; (m) the aggregate Principal Balance and number of all Receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurredthe related Financed Vehicle was repossessed; (xixn) any material modifications, extensions or waivers relating the amount to be distributed to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over timeCertificate Distribution Account; (xxo) the outstanding notional amount of Yield Supplement Overcollateralization Amount for the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliatesnext Payment Date; (xxip) whether a Delinquency Trigger has been met or exceededthe Target Overcollateralization Amount; (xxiiq) the name applicable Record Date, Determination Date, Interest Period and contact information Payment Date for each Class of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic DocumentsNotes; (xxiiir) a summary the weighted average Interest Rate and weighted average remaining term to maturity of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation ABReceivables; and (xxviiis) the nature and amount Outstanding Amount of any material change in each Class of Notes as a percentage of the Seller’s or an Affiliate’s interest in Outstanding Amount of all Classes of Notes as of the Notes or Certificates from close of business on the purchaserelated Payment Date, sale or other disposition of such Notes or Certificatesafter giving effect to payments allocated to principal reported under clause (a) above. Each amount set forth pursuant to on the Payment Date statement under clauses (ia), (ii), b) or (vi), (xi), (xii), and (xiiil) above shall be expressed as a dollar amount per $1,000 of initial original principal amount of a Note. The Indenture Trustee will make such report (and, at its option, any additional files containing the Notes. (bsame information in an alternative format) Within available each month to Noteholders and the prescribed period of time for tax reporting purposes after Administrator via the end of each calendar year during Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “[______________]”. Assistance in using the term of this Agreementwebsite can be obtained by calling the Indenture Trustee’s customer service desk at [______________]. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by requesting the same in writing sent to the Corporate Trust Office and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the Owner acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall mail, be entitled to each Person who at rely on but shall not be responsible for the content or accuracy of any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required provided to it by the Code Administrator and applicable Treasury Regulations to enable such securityholder to prepare the Servicer and may affix thereto any disclaimer it deems appropriate in its federal income tax returnsreasonable discretion.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (BMW Fs Securities LLC), Sale and Servicing Agreement (BMW Fs Securities LLC)

Statements to Securityholders. (a) On or prior to each Distribution Payment Date, the Servicer shall provide to the Trustee and the Owner Trustee shall (except as otherwise provided in with a copy to the Trust Agreement) deliver to each Certificateholder, Note Insurer and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by for the Servicer based on information in the Servicer’s Accounting furnished pursuant Trustee and Owner Trustee to Section 2.09. Each such forward to each Securityholder of record a statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set setting forth at least the following information concerning as to the Notes and the Certificates or to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the amount of such distribution allocable to principal of each class Class of Notes and the NotesCertificates; (ii) the amount of the distribution, if any, such distribution allocable to interest on or with respect to each class Class of NotesNotes and the Certificates; (iii) [Reserved]the amount of such distribution payable out of amounts withdrawn from the Spread Account or pursuant to a claim on the Note Policy; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Pool Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution DateCollection Period; (v) the Note Principal Balance for aggregate outstanding principal amount of each class Class of Notes and the Aggregate Note Principal BalanceCertificates, and the Note Pool Factor for each class of Notes, each as of such Distribution Date Class and the Certificate Pool Factor after giving effect to all payments described allocated to principal reported under clause (i) above; (vi) the amount of the Class A Interest Carryover ShortfallServicing Fee (inclusive of the Standby Fee paid to the Standby Servicer) paid to the Servicer with respect to the related Collection Period, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, amount of any unpaid Servicing Fees (inclusive of the Standby Fee) and the change in each such amount from that of such amounts from the preceding Distribution prior Payment Date; (vii) the amount of such distribution allocable to Class A Noteholders' Interest Carryover Shortfall, the Certificateholders' Interest Carryover Shortfall, the Class A Noteholders' Principal Carryover Shortfall, and the Certificateholders' Principal Carryover Shortfall; (viii) any amounts the number of Receivables and the aggregate gross amount scheduled to be paid to thereon, including unearned finance and other charges, for which the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer related Obligors are delinquent in making scheduled payments between 31 and 59 days and 60 days or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)more; (ix) the amount of the Basic Servicing Fee paid to aggregate Realized Losses, if any, for the Servicer with respect to the related Monthly second preceding Collection Period; (x) the amountnumber and the aggregate Purchase Amounts for Receivables, if any, that were repurchased in such period and purpose of any other fees or expenses accrued or paid;summary information as to losses and delinquencies with respect to the Receivables; and (xi) the amountcumulative amount of Realized Losses, if any, distributed to Noteholders from amounts on deposit in since the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account Cutoff Date to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 last day of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses paragraph (i), (ii), (iii), (vi), (xi), (xii), vii) and (xiiix) above shall be expressed as a dollar amount per $1,000 of the initial principal amount balance of the Notes. Notes (bor Class thereof) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returnsapplicable.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc), Sale and Servicing Agreement (Consumer Portfolio Services Inc)

Statements to Securityholders. On each Determination Date, the Servicer shall provide to the Indenture Trustee (with a copy to each Paying Agent (if any)) for the Indenture Trustee to forward to, or make available to, each Noteholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent (if any)) for the Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date a statement in electronic format acceptable to the Indenture Trustee setting forth at least the following information as to the Securities to the extent applicable: (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in amount of collections received with respect to the Trust Agreement) deliver Receivables during the related Collection Period and allocable to each Certificateholderprincipal, and the Indenture Trustee shall include aggregate amount paid or distributed in respect of interest on each Class of Notes on such Payment Date; (b) the amount of collections received with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer respect to the Rating AgenciesReceivables during the related Collection Period and allocable to interest, and the aggregate amount paid or distributed in respect of principal on each Class of Notes on such Payment Date; (c) prepared by the Servicer based on information number of Receivables, the Pool Balance and the Adjusted Pool Balance, in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, each case with respect to such Distribution Payment Date or and the immediately preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distributionPayment Date, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance and as of the close of business on the last day of the second Monthly immediately preceding Collection Period preceding such Distribution Date (oror as of the Closing Date, for in the case of the first Distribution Determination Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date); (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vid) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall Servicing Fee and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Supplemental Servicing Fee paid to the Servicer with respect to the related Monthly Collection Period; (xe) the amountamount of fees, expenses and indemnification amounts due and payable to each of the Indenture Trustee, the Owner Trustee and the Asset Representations Reviewer, before and after giving effect to payments on the related Payment Date; (f) the Outstanding Amount of each Class of Notes and the Note Pool Factor for each such Class as of the close of business on the related Payment Date, before and after giving effect to payments allocated to principal reported under clause (a) above; (g) the Benchmark and the Class A-2b Rate for the related Interest Period with respect to the Class A-2b Notes; (h) the amount of any interest carryover shortfall on such Payment Date and the change, if any, and purpose of any other fees or expenses accrued or paidin such amounts from those with respect to the immediately preceding Payment Date; (xii) the amountaggregate amounts of Realized Losses, if any, distributed with respect to Noteholders from amounts on deposit in the Reserve Accountrelated Collection Period; (xiij) the amount, if any, of excess cash distributed from Yield Supplement Overcollateralization Amount for the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)related Payment Date; (xiiik) the balance of the Reserve Account on such Distribution Date (that Payment Date, before and after giving effect to changes therein on deposits and withdrawals to be made in respect of such Distribution Payment Date), if any; (xivl) [Reserved]the amount of any deposit to the Reserve Account and the amount and application of any funds withdrawn from the Reserve Account with respect to such Payment Date; (xvm) cash flows received the aggregate Principal Balance of all Receivables that became Liquidated Receivables or Purchased Receivables during the related Monthly Period and their sourcesCollection Period; (xvin) the aggregate Principal Balance and number and dollar amount of Receivables at the beginning and end that are 30 to 59 days, 60 to 89 days, 90 to 119 days or 120 days or more delinquent as of the applicable Monthly last day of the related Collection Period; (o) any Available Amounts Shortfall after giving effect to payments on the related Payment Date, and updated pool composition information any change in such amounts from the preceding statement; (p) the aggregate Principal Balance and number of all Receivables with respect to which the related Financed Vehicle was repossessed; (q) the amount to be distributed to the Certificate Distribution Account on the related Payment Date; (r) the Target Overcollateralization Amount for the related Payment Date; (s) the applicable Record Date, Determination Date, Interest Period and Payment Date for each Class of Notes; (t) the weighted average Interest Rate and weighted average remaining term to maturity of the Receivables as of the end of the Monthly related Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviiu) the Outstanding Amount of each Class of Notes as a percentage of the Outstanding Amount of all Classes of Notes as of the close of business on the related Payment Date, before and after giving effect to payments allocated to principal reported under clause (a) above; (v) delinquency and loss information with respect to the Receivables for the period and related Collection Period, including a description of any material changes change in determining or defining delinquencies, practices with respect to charge-offs offs, collection and uncollectible accountsmanagement of delinquent Receivables, and the effect of any grace period, re-aging, re-structuring, partial payments or other practices on delinquency and loss experience; (xviiiw) the amount a description of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or Receivables terms, fees, penalties or payments on, pool assets during the distribution period related Collection Period, or that, cumulatively, that have cumulatively become material over time; (xxx) the outstanding notional amount a description of the Certificates any material breaches of representations and warranties made with respect to the extent Receivables, or covenants, contained in the Certificates are held by Persons other than Ally Bank or its AffiliatesBasic Documents; (xxiy) the amount of Servicer Advances for the related Collection Period; (z) whether a Delinquency Trigger has been met or exceededoccurred as of the end of the related Collection Period; (xxiiaa) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary notice of the findings and conclusions making of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation ABSOFR Adjustment Conforming Changes; and (xxviiibb) notice of the nature occurrence of a Benchmark Transition Event and amount its related Benchmark Replacement Date, the determination of a Benchmark Replacement, the Unadjusted Benchmark Replacement, the Benchmark Replacement Adjustment and the making of any material change Benchmark Replacement Conforming Changes. The amount or interest or principal allocable to a Class of Notes, as described in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), a) and (xiiib) above above, shall also be expressed as a dollar amount per $1,000 of initial original principal amount of the Notes. related Note. The Indenture Trustee will make such report (band, at its option, any additional files containing the same information in an alternative format) Within available each month to Noteholders and the prescribed period of time for tax reporting purposes after Administrator via the end of each calendar year during Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at xxxxx://xxxxx.xxxxxx.xxx. Assistance in using the term of this Agreementwebsite can be obtained by calling the Indenture Trustee’s customer service desk at (000) 000-0000. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by requesting the same in writing sent to the Corporate Trust Office and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee’s internet website, the Indenture Trustee may require registration and the Owner acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall mail, be entitled to each Person who at rely on but shall not be responsible for the content or accuracy of any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required provided to it by the Code Administrator and applicable Treasury Regulations to enable such securityholder to prepare the Servicer and may affix thereto any disclaimer it deems appropriate in its federal income tax returnsreasonable discretion.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (BMW Vehicle Owner Trust 2024-A), Sale and Servicing Agreement (BMW Vehicle Owner Trust 2024-A)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreementi) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each NoteholderNoteholder of record as of the related Record Date and (ii) the Owner Trustee shall include with each distribution to each Certificateholder of record as of the related Record Date a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer Master Servicer, based on the information in the Servicer’s Accounting Distribution Date Statement furnished pursuant to Section 2.09. Each 4.09, setting forth for such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth Distribution Date the following information concerning as of the Certificates related Record Date or the Notessuch Distribution Date, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodcase may be: (i) the amount of such distribution allocable to principal (stated separately for each Class of each class of the Notes); (ii) the amount of the distribution, if any, such distribution allocable to interest on or with respect to (stated separately for each class Class of Notes); (iii) [Reserved]the Interest Distributable Amount for each Class of Notes; (iv) the amount of any Interest Carryover Shortfall on such Distribution Date and the change in such amounts from those with respect to the immediately preceding Distribution Date; (v) the amount of the Servicing Fee paid to the Master Servicer with respect to the related Collection Period; (vi) the Aggregate Receivables Net Liquidation Losses for the related Collection Period; (vii) the aggregate Principal Balance of Delinquent Contracts as of the close of business on the last day of such Collection Period; (viii) the Aggregate Principal Balance as of the close of business on the last day of such Monthly Collection Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (vix) the Note Principal Balance for principal amount of each class Class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date Date, after giving effect to all payments described allocated to principal reported under clause (i) above; (vix) the Certificate Distributable Amount; (xi) the amount of on deposit in the Class A Interest Carryover ShortfallSpread Account on such Distribution Date, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if anyafter giving effect to distributions made on such Distribution Date, and the change in each of such amounts balance from the immediately preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from Overcollateralization Amount and the Reserve Account to amount by which the Certificateholders (or if Aggregate Principal Balance exceeds the Certificate Distribution Account has been established pursuant to Section 5.1 Outstanding Amount of the Trust Agreement, then Notes (after giving effect to such Certificate any payments made to Holders of the Notes on that Distribution Account for distribution to the Certificateholders on a pro rata basisDate); (xiii) the balance disposition amounts withdrawn from the Spread Account, including the amounts used to increase the level of overcollateralization to the Reserve Account on such Distribution Date (after giving effect to changes therein on Overcollateralization Amount, and the Excess Spread Amount, if any, for such Distribution Date);; and (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or CertificatesNet Collections. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), iv) and (xiiiv) above shall be expressed in the aggregate and as a dollar amount per $1,000 of initial 1,000.00 original principal amount of the Notesa Note. (b) Within the prescribed a reasonable period of time for tax reporting purposes after the end of each calendar year during year, but not later than the term of this Agreementlatest date permitted by law, the Indenture Trustee and the Owner Trustee shall mail, mail to each Person who at any time during such calendar year shall have been a holder Holder of Notes or Certificates, respectively, and received any payments thereon, a Note a statement containing such information as may be required or statements, prepared by the Code Master Servicer, which in the aggregate contain the sum of the amounts set forth in clauses (i), (ii), (iv) and (v) of 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 Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Noteholder's preparation of federal income tax returns. In addition, the Master Servicer shall furnish to the Indenture Trustee for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (WFS Financial 2005-1 Owner Trust), Sale and Servicing Agreement (WFS Financial 2004-4 Owner Trust)

Statements to Securityholders. (a) On each Distribution Date, the AART Owner Trustee shall (except as otherwise provided in the Trust Agreement) shall deliver to each Certificateholder, and the AART Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer Administrator to the Rating Agencies) prepared by the Servicer Administrator and provided to the AART Indenture Trustee and the AART Owner Trustee, based on information in the ServicerAdministrator’s Accounting furnished pursuant to Section 2.092.06. Each such statement to be delivered or otherwise made available to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) Determination Dates and Distribution Dates used to calculate distributions on the Notes and any Certificates; (ii) the amount of such distribution allocable to principal of each class of the NotesNotes and the amount of any distribution to the Certificates; (iiiii) the amount of the distribution, if any, allocable to any interest on or with respect to each class of the Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and Notes, the Aggregate Note Principal Balance, Balance and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause clauses (iii) and (iii) above; (v) the First Priority Principal Distributable Amount, the Second Priority Principal Distributable Amount, the Third Priority Principal Distributable Amount and the Noteholders’ Regular Principal Distributable Amount for such Distribution Date; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D C Interest Carryover Shortfall, if any, and the change in each of such amounts amount from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts Administration Fee paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) and the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (viii) the interest rate on each class of Notes for such Distribution Date; (ix) the Secured Note Rate; (x) the amount, if any, aggregate amount in the Payment Ahead Servicing Account and purpose of any other fees or expenses accrued or paidthe change in that amount during the related Monthly Period; (xi) the amount, if any, distributed to Noteholders from amounts amount on deposit in the Reserve Account, if any, on such Distribution Date, after giving effect to any withdrawals or deposits on such date, and the Reserve Account Required Amount on such date; (xii) the amount, if any, of excess cash distributed to the Noteholders, the Certificateholders and the Depositor from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)Account; (xiii) the balance of the Reserve Account on LIBOR for such Distribution Date (after giving effect to changes therein and the interest rate on such Distribution Date)each tranche of Floating Rate Notes; (xiv) [Reserved]the aggregate amounts of Monthly Payment Advances and of Residual Advances made by the Servicer under the Servicing Agreement with respect to the Monthly Period; (xv) cash flows received the amount of any Pull Ahead Payments made by Ally Financial, in its capacity as agent for any Lease OEM, under the Pull Ahead Funding Agreement and the number of Lease Assets that became Pull Ahead Lease Assets during the related Monthly Period; (xvi) the amount of Aggregate Residual Losses or credit losses on the Lease Assets during the related Monthly Period and their sourcesthe aggregate amount of residual or credit losses on the Lease Assets since the Cutoff Date; (xvixvii) the number and dollar amount Aggregate ABS Value of Receivables the Lease Assets at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepaymentsprepayment rates; (xviixviii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiixix) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurredaggregate Warranty Payment; (xixxx) the aggregate Administrative Purchase Payment; and (xxi) purchase price of Lease Assets repurchased by the Servicer due to any material modifications, extensions or waivers relating to the terms of of, or fees, penalties or payments on, pool assets Lease Assets during the distribution period Distribution Period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (iii), (iiiii), (vi), (xi), ) and (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) On each Distribution Date, the AART Indenture Trustee shall make available to each Noteholder a copy of the Servicer’s Certificate as delivered to the AART Indenture Trustee by the Servicer pursuant to Section 2.15 of the Servicing Agreement. (c) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the AART Indenture Trustee and the AART Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder Holder of Notes or Certificates, respectively, and received any payments or distributions thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder Securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Administration Agreement (Ally Auto Assets LLC), Administration Agreement (Ally Auto Assets LLC)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.09 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]the amount of such distribution allocable to the Certificateholders; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) aboveabove and to all reinvestments described under clause (xiv) below; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall, the Class D Interest Carryover Shortfall and the Class D E Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of Negative Carry Amount, if any, on such distribution allocable to the CertificateholdersDistribution Date; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (xix) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xix) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xiixi) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiixii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiii) LIBOR for such Distribution Date and the interest rate on each class of Floating Rate Notes; (xiv) [Reserved]the Aggregate Additional Receivables Principal Balance for such Distribution Date (related to the Revolving Period only); (xv) the balance of the Accumulation Account after giving effect to payments to and distributions from such account on such Distribution Date (related to the Revolving Period only); (xvi) cash flows received during the related Monthly Collection Period and their sources; (xvixvii) whether the Revolving Period has terminated early as a result of the occurrence of an Early Amortization Event (related to the Revolving Period only); (xviii) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviixix) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiixx) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xixxxi) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xix), (xiixi), and (xiiixii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2013-4), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2013-4)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.10 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]the amount of such distribution allocable to the Certificateholders; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) aboveabove and to all reinvestments described under clause (xiv) below; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of Negative Carry Amount, if any, on such distribution allocable to the CertificateholdersDistribution Date; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (xix) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xix) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xiixi) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiixii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiii) LIBOR for such Distribution Date; (xiv) [Reserved]the Aggregate Additional Receivables Principal Balance for such Distribution Date (related to the Revolving Period only); (xv) the balance of the Accumulation Account after giving effect to payments to and distributions from such account on such Distribution Date (related to the Revolving Period only); (xvi) cash flows received during the related Monthly Collection Period and their sources; (xvixvii) whether the Revolving Period has terminated early as a result of the occurrence of an Early Amortization Event (related to the Revolving Period only); (xviii) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviixix) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiixx) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xixxxi) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xix), (xiixi), and (xiiixii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2013-1), Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2013-1)

Statements to Securityholders. (a) On each Distribution Date, the AART Owner Trustee shall (except as otherwise provided in the Trust Agreement) shall deliver to each Certificateholder, and the AART Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer Administrator to the Rating Agencies) prepared by the Servicer Administrator and provided to the AART Indenture Trustee and the AART Owner Trustee, based on information in the ServicerAdministrator’s Accounting furnished pursuant to Section 2.092.06. Each such statement to be delivered or otherwise made available to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) Determination Dates and Distribution Dates used to calculate distributions on the Notes and any Certificates; (ii) the amount of such distribution allocable to principal of each class of the NotesNotes and the amount of any distribution to the Certificates; (iiiii) the amount of the distribution, if any, allocable to any interest on or with respect to each class of the Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and Notes, the Aggregate Note Principal Balance, Balance and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause clauses (iii) and (iii) above; (v) the First Priority Principal Distributable Amount, the Second Priority Principal Distributable Amount, the Third Priority Principal Distributable Amount and the Noteholders’ Regular Principal Distributable Amount for such Distribution Date; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D C Interest Carryover Shortfall, if any, and the change in each of such amounts amount from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts Administration Fee paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) and the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (viii) the interest rate on each class of Notes for such Distribution Date; (ix) the Secured Note Rate; (x) the amount, if any, aggregate amount in the Payment Ahead Servicing Account and purpose of any other fees or expenses accrued or paidthe change in that amount during the related Monthly Period; (xi) the amount, if any, distributed to Noteholders from amounts amount on deposit in the Reserve Account, if any, on such Distribution Date, after giving effect to any withdrawals or deposits on such date, and the Reserve Account Required Amount on such date; (xii) the amount, if any, of excess cash distributed to the Noteholders, the Certificateholders and the Depositor from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)Account; (xiii) the balance aggregate amounts of Monthly Payment Advances and of Residual Advances made by the Reserve Account on such Distribution Date (after giving effect Servicer under the Servicing Agreement with respect to changes therein on such Distribution Date)the Monthly Period; (xiv) [Reserved]the amount of any Pull Ahead Payments made by Ally Financial, in its capacity as agent for any Lease OEM, under the Pull Ahead Funding Agreement and the number of Lease Assets that became Pull Ahead Lease Assets during the related Monthly Period; (xv) cash flows received the amount of Aggregate Residual Losses or credit losses on the Lease Assets during the related Monthly Period and their sourcesthe aggregate amount of residual or credit losses on the Lease Assets since the Cutoff Date; (xvi) the number and dollar amount Aggregate ABS Value of Receivables the Lease Assets at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepaymentsprepayment rates; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurredaggregate Warranty Payment; (xix) the aggregate Administrative Purchase Payment; and (xx) purchase price of Lease Assets repurchased by the Servicer due to any material modifications, extensions or waivers relating to the terms of of, or fees, penalties or payments on, pool assets Lease Assets during the distribution period Distribution Period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (iii), (iiiii), (vi), (xi), ) and (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) On each Distribution Date, the AART Indenture Trustee shall make available to each Noteholder a copy of the Servicer’s Certificate as delivered to the AART Indenture Trustee by the Servicer pursuant to Section 2.15 of the Servicing Agreement. (c) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the AART Indenture Trustee and the AART Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder Holder of Notes or Certificates, respectively, and received any payments or distributions thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder Securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Administration Agreement (Ally Auto Receivables Trust 2012-Sn1), Administration Agreement (Ally Auto Receivables Trust 2012-Sn1)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover ShortfallShortfall , if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders[Reserved]; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)[Reserved]; (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);Certificateholder, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]LIBOR for such Distribution Date and the interest rate on each class of Floating Rate Notes; (xv) cash flows received during the related Monthly Collection Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Servicing Agreement (Ally Auto Receivables Trust 2011-3), Servicing Agreement (Ally Auto Receivables Trust 2011-3)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer Trustee or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]LIBOR for such Distribution Date and the interest rate on each class or tranche of Floating Rate Notes; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time;; and (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Servicing Agreement (Ally Auto Receivables Trust 2015-2), Servicing Agreement (Ally Auto Receivables Trust 2015-2)

Statements to Securityholders. (a) On With respect to each Distribution Payment Date, on the Owner Business Day following the related Determination Date (or with respect to any Payment Date for which an Insured Payment will occur, no later than 12:00 P.M. New York City time, on the second Business Day prior to the applicable Payment Date), the Master Servicer shall forward to the Indenture Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall (except as forward or cause to be forwarded by mail or otherwise provided in the Trust Agreement) deliver make available electronically at xxx.xxxxxxxx.xxx/xxx to each Certificateholder, Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and the Indenture Trustee shall include with each distribution to each NoteholderRating Agency, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set setting forth the following information concerning (the Certificates or "Servicing Certificate") as to the NotesNotes and Certificates, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the amount of such distribution allocable to principal of each class of the Notesapplicable Record Date, Determination Date and Payment Date; (ii) the aggregate amount of the distribution, if any, allocable to interest on or payments received with respect to each class of Notesthe Home Loans, including prepayment amounts; (iii) [Reserved]the Servicing Fee and Subservicing Fee payable to the Master Servicer and the Subservicer; (iv) the Aggregate Receivables Principal Balance as amount of any other fees or expenses paid, and the identity of the close of business on the last day of party receiving such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Datefees or expenses; (v) the Note aggregate amount of (a) Interest Collections, (b) Principal Balance Collections and (c) Substitution Adjustment Amounts for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) aboveCollection Period; (via) the amount of such distribution to the Securityholders of such Class A Interest Carryover Shortfall, applied to reduce the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if anyNote Balance or Certificate Principal Balance thereof, and (b) the change in each of such amounts from the preceding Distribution Dateaggregate amount included therein representing Principal Prepayments; (vii) the amount of such distribution to Holders of such Class of Securities allocable to the Certificateholdersinterest; (viii) any amounts paid if the distribution to the Indenture TrusteeHolders of such Class of Securities is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the Owner Trustee, amount of the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)shortfall; (ix) the amount aggregate Note Balance or Certificate Principal Balance of the Basic Servicing Fee paid each Class of Securities, before and after giving effect to the Servicer with respect amounts distributed on such Payment Date, separately identifying any reduction thereof due to the related Monthly PeriodLiquidation Loss Amounts other than pursuant to an actual distribution of principal; (x) the amountNote Rate for each Class of Notes for such Payment Date, separately identifying LIBOR for such Payment Date, if any, and purpose of any other fees or expenses accrued or paid;applicable. (xi) the amount, if any, weighted average remaining term to maturity of the Home Loans after giving effect to the amounts distributed to Noteholders from amounts on deposit in the Reserve Accountsuch Payment Date; (xii) the amount, if any, weighted average Loan Rates of excess cash distributed from the Reserve Account Home Loans after giving effect to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to amounts distributed on such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)Payment Date; (xiii) the balance percentage of the Reserve Account on such Distribution Date (outstanding principal balances of the Notes after giving effect to changes therein the distributions on such Distribution that Payment Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount Pool Balance of Receivables the Home Loans after giving effect to the distribution of principal on such Payment Date and the number of Home Loans at the beginning and end of the applicable preceding Collection Period; (xv) on the basis of the most recent reports furnished to it by Sub-Servicers, the number and aggregate Loan Balances of Home Loans (a) as to which the Monthly PeriodPayment is Delinquent 30-59 days, 60-89 days and updated pool composition information 90 or more days, respectively, (b) that are foreclosed, (c) that have become REO and (d) that have been finally liquidated due to being 180 days or more delinquent, in each case as of the end of the Monthly related Collection Period; provided, however, that such information will not be provided on the statements relating to the first Payment Date; (xvi) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, such as weighted average coupon, weighted average life, weighted average remaining termthe amount of any Liquidation Loss Payment Amounts with respect to the Notes, and prepaymentsthe aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollars and as a percentage of the aggregate Cut-off Date Loan Balance; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets the Home Loans during the distribution period Collection Period or that, cumulatively, that have cumulatively become material over time; (xviii) any material breaches of Home Loan representations or warranties or covenants in the Home Loan Purchase Agreement. (xix) The amount of any Insured Payment, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (xx) the outstanding notional amount number, aggregate principal balance and book value of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliatesany REO properties; (xxi) whether a Delinquency Trigger has been met or exceededthe aggregate accrued interest remaining unpaid, if any, for each Class of Securities, after giving effect to the distribution made on such Payment Date; (xxii) (a) the name number and contact information principal amount of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights release agreements pursuant to Section 3.05(b)(iv) entered into during the Basic Documentscalendar year and since the Closing Date, stated separately, for the Home Loans and, the aggregate outstanding principal amount of such release agreements expressed as a percentage of the Pool Balance with information provided separately with respect to all Unsecured Loans and (b) the number and principal amount of Capitalization Workouts pursuant to Section 3.02(a)(v) entered into since the Closing Date; (xxiii) a summary the aggregate amount recovered during the related Collection Period consisting of the findings and conclusions of all subsequent recoveries on any Asset Representations Review conducted by the Asset Representations ReviewerHome Loan that was 180 days or more delinquent; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement[reserved]; (xxv) the aggregate amount of any voting instructions and procedures pursuant recoveries on previously foreclosed loans from Sellers due to Section 5.17(b) a breach of a representation or warranty assigned to the IndentureTrustee; (xxvi) information with respect the amount, if any, to any change in the Asset Representations Reviewer as required be paid by Item 1121(d)(2) of Regulation ABa Derivative Counterparty under a Derivative Contract; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation ABwhether or not a Servicing Trigger has occurred; and (xxviii) the nature Outstanding Reserve Amount and amount the Reserve Amount Target immediately following such Payment Date. In the case of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth information furnished pursuant to clauses (i), (ii), (vi), (xi), (xii), ) and (xiiivii) above above, the amounts shall be expressed as a an aggregate dollar amount per Note or Certificate, as applicable, with a $1,000 of initial principal amount of the Notesdenomination. (b) Within In addition, with respect to each Payment Date, on the prescribed period of time Business Day following the related Determination Date, the Master Servicer shall forward to the Credit Enhancer and the Rating Agencies the following information for tax reporting purposes each Capitalization Workout entered into during the related Collection Period: (i) the original Home Loan amount; (ii) the Home Loan amount after the end Capitalization Workout; (iii) the original Monthly Payment amount; (iv) the Monthly Payment amount after the Capitalization Workout; (v) the Capitalized Amount as defined in Section 3.02(a)(v) herein; (vi) the Combined Loan-to-Value Ratio prior to the Capitalization Workout; (vii) the Combined Loan-to-Value Ratio after the Capitalization Workout; and (viii) if an appraisal was used in determining the Combined Loan-to-Value Ratio referred to in (vii) above, the type and date of each calendar year during the term of this Agreement, appraisal. The Master Servicer shall also forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Master Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Payment Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Master Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Indenture Trustee shall mailbe protected in relying upon the same without any independent check or verification. In addition, to each Person who at any time during such calendar year upon the Issuer's written request, the Master Servicer shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such promptly furnish information as may be required reasonably requested by the Code and applicable Treasury Regulations Issuer that is reasonably available to the Master Servicer to enable such securityholder the Issuer to prepare perform its federal and state income tax returnsreporting obligations. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Appears in 2 contracts

Samples: Servicing Agreement (Home Loan Trust 2006-Hi4), Servicing Agreement (Home Loan Trust 2006-Hi3)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D C Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer Trustee or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Collection Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Servicing Agreement (Ally Auto Receivables Trust 2012-3), Servicing Agreement (Ally Auto Receivables Trust 2012-3)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.09 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]the amount of such distribution allocable to the Certificateholders; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) aboveabove and to all reinvestments described under clause (xiv) below; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall, the Class D Interest Carryover Shortfall and the Class D E Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of Negative Carry Amount, if any, on such distribution allocable to the CertificateholdersDistribution Date; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (xix) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xix) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xiixi) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiixii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiii) LIBOR for such Distribution Date; (xiv) [Reserved]the Aggregate Additional Receivables Principal Balance for such Distribution Date (related to the Revolving Period only); (xv) the balance of the Accumulation Account after giving effect to payments to and distributions from such account on such Distribution Date (related to the Revolving Period only); (xvi) cash flows received during the related Monthly Collection Period and their sources; (xvixvii) whether the Revolving Period has terminated early as a result of the occurrence of an Early Amortization Event (related to the Revolving Period only); (xviii) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviixix) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiixx) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xixxxi) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xix), (xiixi), and (xiiixii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 2 contracts

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables LLC), Trust Sale and Servicing Agreement (Capital Auto Receivables LLC)

Statements to Securityholders. (a) On each Distribution Payment Date, the Servicer shall provide to the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to furnish to each Certificateholder, Certificateholder of record and to the Indenture Trustee shall include with each distribution to forward to each NoteholderNoteholder of record a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting 's Certificate furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders3.10, respectively, shall comply with Regulation AB and set setting forth at least the following information concerning as to the Certificates or Securities, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the amount of such distribution allocable to principal principal, as allocated to each Class of Notes and to the Certificates (stated separately for each class Class of Notes and the NotesCertificates); (ii) the amount of the distribution, if any, such distribution allocable to interest on or with respect interest, as allocated to each class Class of NotesNotes and to the Certificates (stated separately for each Class of Notes and the Certificates); (iii) [Reserved]the Yield Supplement Amount, the Yield Supplement Withdrawal Amount and the amount on deposit in the Yield Supplement Account after giving effect to the distributions made on such Payment Date; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Pool Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (orrelated Collection Period, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described allocated to principal reported under clause (i) above; (v) the Note Distributable Amount, the Certificate Distributable Amount and the Available Amount; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Total Servicing Fee paid to the Servicer with respect to the related Monthly Collection Period; (vii) the amount of non-recoverable Advances; (viii) total Payments Ahead and the Applied Payments Ahead; (ix) the amount of Trust Fees and Expenses; (x) the amount, if any, and purpose amount of any other fees or expenses accrued or paidNote Interest Carryover Shortfall and Note Principal Carryover Shortfall on such Payment Date and the change in such amounts from those with respect to the immediately preceding Payment Date; (xi) the amount, if any, distributed amount of any Certificate Interest Carryover Shortfall and Certificate Principal Carryover Shortfall on such Payment Date and the change in such amounts from those with respect to Noteholders from amounts on deposit in the Reserve Accountimmediately preceding Payment Date; (xii) the amount, if any, Note Pool Factor for each Class of excess cash distributed from the Reserve Account to the Certificateholders (or if Notes and the Certificate Distribution Account has been established pursuant to Section 5.1 Pool Factor, in each case as of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)Payment Date; (xiii) the balance of on deposit in the Reserve Account Fund on such Distribution Date (Payment Date, after giving effect to changes therein distributions made on the Payment Date, if any, and the change in such Distribution balance from the immediately preceding Payment Date); (xiv) [Reserved]the amount available under the Servicer Letter of Credit, if any, and such amount as a percentage of the Pool Balance as of the last day of such Collection Period; (xv) cash flows received during the related Monthly Period determination date, accrual period and their sourcespayment date for each class of securities of that series; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information characteristics as of the end last day of the Monthly related Collection Period, such as including but not limited to, the weighted average coupon, weighted average life, interest rate and weighted average remaining term, and prepayments;term to maturity; and (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificatesrelated Collection Period. Each amount set forth pursuant to on the Payment Date statement under clauses (i), (ii), (vi), (xi), (xii), x) and (xiiixi) above shall be expressed as a dollar amount per $1,000 of initial original principal amount balance of a Note or the NotesOriginal Certificate Balance of a Certificate, as the case may be. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreementthe Issuer, but not later than the latest date permitted by law, the Indenture related Trustee and the Owner Trustee shall mailshall, upon written request, mail to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereonSecurityholder, a statement containing such information as may be required statement, prepared by the Code and Servicer, containing certain information for such calendar year or, in the event such Person shall have been a Securityholder during a portion of such calendar year, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Securityholder's preparation of federal income tax returns. In addition, the Servicer shall furnish to the Trustees for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Honda Auto Receivables 2007-1 Owner Trust), Sale and Servicing Agreement (Honda Auto Receivables 2007-2 Owner Trust)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreementi) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each NoteholderNoteholder of record as of the related Record Date, and (ii) the Owner Trustee shall include with each distribution to each Certificateholder of record as of the related Record Date, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) statement, prepared by the Servicer Master Servicer, based on the information in the Servicer’s Accounting Distribution Date Statement furnished pursuant to Section 2.09. Each 4.09, setting forth for such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth Distribution Date the following information concerning as of the Certificates related Record Date or the Notessuch Distribution Date, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodcase may be: (i) the amount of such distribution allocable to principal (stated separately for each Class of each class of Notes and the NotesCertificates); (ii) the amount of the distribution, if any, such distribution allocable to interest on or with respect to (stated separately for each class Class of NotesNotes and the Certificates); (iii) [Reserved]the Note Percentage and the Certificate Percentage as of the close of business on the last day of such Due Period; (iv) the Aggregate Receivables Principal Scheduled Balance as of the close of business on the last day of such Monthly Due Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class amount of Notes and the Aggregate Note Principal Balance, and Servicing Fee paid to the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect Master Servicer with respect to all payments described under clause (i) abovethe related Due Period; (vi) the amount of the Class A any Certificate Interest Carryover Shortfall, the Class B Interest Certificate Principal Carryover Shortfall, the Class C Note Interest Carryover Shortfall and the Class D Interest Note Principal Carryover Shortfall, if any, Shortfall on such Distribution Date and the change in each of such amounts from those with respect to the immediately preceding Distribution Date; (vii) the amount Note Pool Factor for each Class of Notes and the Certificate Pool Factor as of such distribution allocable Distribution Date, after giving effect to the Certificateholders;payments allocated to principal reported under clause (i) above; and (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Spread Account on such Distribution Date (Date, after giving effect to changes therein distributions made on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate change in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates balance from the purchase, sale or other disposition of such Notes or Certificatesimmediately preceding Distribution Date. Each amount set forth pursuant to clauses subclauses (i), (ii), (vi), iv) or (xi), (xii), and (xiiiv) above shall be expressed as a dollar amount per $1,000 1,000.00 of initial original principal amount of a Note or original Certificate Balance, as the Notescase may be. (b) Within the prescribed a reasonable period of time for tax reporting purposes after the end of each calendar year during year, but not later than the term of this Agreementlatest date permitted by law, the Indenture Owner Trustee and the Owner Trustee Indenture Trustee, as the case may be, shall mail, mail to each Person who at any time during such calendar year shall have been a holder Holder of Notes a Note or Certificatesa Certificate, respectively, and received any payments thereon, a statement containing such information as may be required or statements, prepared by the Code Master Servicer, which in the aggregate contain the sum of the amounts set forth in clauses (i), (ii), (iv) and (v) above for such calendar year or, in the event such Person shall have been a Holder of a Note or a Certificate during a portion of such calendar year, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Noteholder's or Certificateholder's preparation of federal income tax returns.. In addition, the Master Servicer shall furnish to the Owner Trustee and the Indenture Trustee for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns. ARTICLE SIX

Appears in 2 contracts

Samples: Sale and Servicing Agreement (WFS Financial Auto Loans Inc), Sale and Servicing Agreement (WFS Financial Auto Loans Inc)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreementi) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each NoteholderNoteholder of record as of the related Record Date and (ii) the Owner Trustee shall include with each distribution to each Certificateholder of record as of the related Record Date a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer Master Servicer, based on the information in the Servicer’s Accounting Distribution Date Statement furnished pursuant to Section 2.09. Each 4.09, setting forth for such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth Distribution Date the following information concerning as of the Certificates related Record Date or the Notessuch Distribution Date, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodcase may be: (i) the amount of such distribution allocable to principal (stated separately for each Class of each class of the Notes); (ii) the amount of the distribution, if any, such distribution allocable to interest on or with respect to (stated separately for each class Class of Notes); (iii) [Reserved]the Interest Distributable Amount for each Class of Notes; (iv) the amount of any Interest Carryover Shortfall on such Distribution Date and the change in such amounts from those with respect to the immediately preceding Distribution Date; (v) the amount of the Servicing Fee paid to the Master Servicer with respect to the related Collection Period; (vi) the Class A Principal Distributable Amount, the Class B Principal Distributable Amount, the Class C Principal Distributable Amount and the Class D Principal Distributable Amount; (vii) with respect to each Class of Notes, the excess, if any, of the amount distributable in respect of principal on such Class of Notes over the amount allocated for the payment of principal on such Class of Notes; (viii) the Aggregate Receivables Net Liquidation Losses for the related Collection Period; (ix) the aggregate Principal Balance of Delinquent Contracts as of the close of business on the last day of such Collection Period; (x) the Aggregate Principal Balance as of the close of business on the last day of such Monthly Collection Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (vxi) the Note Principal Balance for principal amount of each class Class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date Date, after giving effect to all payments described allocated to principal reported under clause (i) above; (vixii) the Certificate Distributable Amount; (xiii) the amount of on deposit in the Class A Interest Carryover ShortfallSpread Account on such Distribution Date, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if anyafter giving effect to distributions made on such Distribution Date, and the change in each of such amounts balance from the immediately preceding Distribution Date; (viixiv) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) Overcollateralization Amount and the amount by which the Aggregate Principal Balance exceeds the Outstanding Amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date Notes (after giving effect to changes therein any payments made to Holders of the Notes on such that Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period Spread Account Withdrawal Amount and their sources;the Excess Spread Account Amount; and (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or CertificatesNet Collections. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), iv) and (xiiiv) above shall be expressed in the aggregate and as a dollar amount per $1,000 of initial 1,000.00 original principal amount of the Notesa Note. (b) Within the prescribed a reasonable period of time for tax reporting purposes after the end of each calendar year during year, but not later than the term of this Agreementlatest date permitted by law, the Indenture Trustee and the Owner Trustee shall mail, mail to each Person who at any time during such calendar year shall have been a holder Holder of Notes or Certificates, respectively, and received any payments thereon, a Note a statement containing such information as may be required or statements, prepared by the Code Master Servicer, which in the aggregate contain the sum of the amounts set forth in clauses (i), (ii), (iv) and (v) of 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 Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Noteholder's preparation of federal income tax returns. In addition, the Master Servicer shall furnish to the Indenture Trustee for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (WFS Receivables Corp 3), Sale and Servicing Agreement (WFS Receivables Corp 3)

Statements to Securityholders. (a) On each Distribution Determination Date, the Owner Trustee Servicer shall (except as otherwise provided in the Trust Agreement) deliver provide to each Certificateholder, and the Indenture Trustee shall include (with each distribution a copy to each NoteholderPaying Agent (if any)) for the Indenture Trustee to forward to, or make available to, each Noteholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent (if any)) for the Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date a statement (which statement shall also be provided by the Servicer in electronic format acceptable to the Rating Agencies) prepared by the Servicer based on information Indenture Trustee substantially in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set form of Exhibit B setting forth at least the following information concerning as to the Certificates or Securities to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (ia) the amount of such distribution collections received with respect to the Receivables during the related Collection Period and allocable to principal and the amount allocable to each Class of each class of the NotesNotes on such Payment Date; (iib) the amount of collections received with respect to the distribution, if any, Receivables during the related Collection Period and allocable to interest on or with respect and the amount allocable to each class Class of NotesNotes on such Payment Date; (iii) [Reserved]; (ivc) the Aggregate Receivables Principal Balance Outstanding Amount of each Class of Notes and the Note Pool Factor for each such Class as of the close of business on the last day related Payment Date, after giving effect to payments allocated to principal reported under clause (a) above; (d) the amount of the Servicing Fee paid to the Servicer and the amount of any fees payable to the Owner Trustee or the Indenture Trustee with respect to the related Collection Period; (e) the amount of any interest carryover shortfall on such Monthly Payment Date and the change, if any, in such amounts from those with respect to the immediately preceding Payment Date; (f) the aggregate amounts of Realized Losses, if any, with respect to the related Collection Period, ; (g) the Aggregate Receivables Principal Pool Balance and the Adjusted Pool Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (orrelated Collection Period, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described allocated to principal reported under clause (ia) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiih) the balance of the Reserve Account on such Distribution the related Determination Date (after giving effect to changes therein deposits and withdrawals to be made on such Distribution Payment Date), if any; (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiii) the amount of receivables any deposit to the Reserve Account and the amount and application of any funds withdrawn from the Reserve Account with respect to such Payment Date; (j) the aggregate Principal Balance of all Receivables that became Liquidated Receivables or Purchased Receivables during the related Collection Period; (k) the aggregate Principal Balance and number of Receivables that are 30 to 59 days, 60 to 89 days, 90 to 119 days or 120 days or more delinquent as of the last day of the related Collection Period; (l) any Available Amounts Shortfall after giving effect to payments on such Payment Date, and any change in such amounts from the preceding statement; (m) the aggregate Principal Balance and number of all Receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurredthe related Financed Vehicle was repossessed; (xixn) any material modifications, extensions or waivers relating the amount to be distributed to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over timeCertificate Distribution Account; (xxo) the outstanding notional amount of Yield Supplement Overcollateralization Amount for the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliatesnext Payment Date; (xxip) whether a Delinquency Trigger has been met or exceededthe Target Overcollateralization Amount; (xxiiq) the name applicable Record Date, Determination Date, Interest Period and contact information Payment Date for each Class of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic DocumentsNotes; (xxiiir) a summary the weighted average Interest Rate and weighted average remaining term to maturity of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation ABReceivables; and (xxviiis) the nature and amount Outstanding Amount of any material change in each Class of Notes as a percentage of the Seller’s or an Affiliate’s interest in Outstanding Amount of all Classes of Notes as of the Notes or Certificates from close of business on the purchaserelated Payment Date, sale or other disposition of such Notes or Certificatesafter giving effect to payments allocated to principal reported under clause (a) above. Each amount set forth pursuant to on the Payment Date statement under clauses (ia), (ii), b) or (vi), (xi), (xii), and (xiiil) above shall be expressed as a dollar amount per $1,000 of initial original principal amount of a Note. The Indenture Trustee will make such report (and, at its option, any additional files containing the Notes. (bsame information in an alternative format) Within available each month to Noteholders and the prescribed period of time for tax reporting purposes after Administrator via the end of each calendar year during Indenture Trustee's internet website. The Indenture Trustee's internet website shall initially be located at "[______________]". Assistance in using the term of this Agreementwebsite can be obtained by calling the Indenture Trustee's customer service desk at [______________]. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by requesting the same in writing sent to the Corporate Trust Office and indicating such. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. As a condition to access to the Indenture Trustee's internet website, the Indenture Trustee may require registration and the Owner acceptance of a disclaimer. The Indenture Trustee will not be liable for the dissemination of information in accordance with this Agreement. The Indenture Trustee shall mail, be entitled to each Person who at rely on but shall not be responsible for the content or accuracy of any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required provided to it by the Code Administrator and applicable Treasury Regulations to enable such securityholder to prepare the Servicer and may affix thereto any disclaimer it deems appropriate in its federal income tax returnsreasonable discretion.

Appears in 1 contract

Samples: Sale and Servicing Agreement (BMW Fs Securities LLC)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver include with each distribution to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting 's Certificate furnished pursuant to Section 2.093.10. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning as to the Certificates with respect to such Distribution Date or the Notespreceding Monthly Period, as appropriate, applicable. Each such statement to be delivered to Noteholders shall set forth the following information as to the Notes with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such the distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of NotesSecurities; (iii) [Reserved]; (ivii) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, ; (iii) the Aggregate amount of Outstanding Monthly Advances with respect to all Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (viiv) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Total Servicing Fee paid or payable to the Servicer with respect to the related Monthly Period; (v) the amount of Aggregate Losses for the related Monthly Period; (vi) the Delinquency Percentage for the related Monthly Period; (vii) the sum of all Administrative Purchase Payments and all Warranty Payments made for the related Monthly Period; (viii) the amount of the distribution allocable to principal of each class of the Notes (identifying any portion thereof consisting of Accelerated Principal Distributable Amount) and to the Certificate Balance of each class of Certificates; (ix) the Note Principal Balance and the Note Pool Factor for each class of Notes, and the Certificate Balance and the Certificate Pool Factor for each class of Certificates, each after giving effect to all payments reported under (viii) above on such date; (x) the amountamounts, if any, and purpose of any other fees paid to the Servicer or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders Securityholders from amounts on deposit in the Reserve Account; (xiixi) the amountamount of the Noteholders' Interest Carryover Shortfall, the Noteholders' Principal Carryover Shortfall, the Certificateholders' Interest Carryover Shortfall and the Certificateholders' Principal Carryover Shortfall, if any, of excess cash distributed and the change in such amounts from the Reserve Account to the Certificateholders (or if the Certificate preceding Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);Date; and (xiiixii) the balance (if any) of the Reserve Account on such Distribution Date (date, after giving effect to changes therein distributions, withdrawals, transfers and deposits made on such date, and the change in such balance from that of the prior Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (iiiv), (viviii), (xi), (xii), x) and (xiiixi) above shall be expressed as a dollar amount per $1,000 of initial principal amount Note Principal Balance or the initial Certificate Balance, as applicable. In lieu of preparing and delivering a separate statement to Securityholders pursuant to this Section, a Trustee may deliver a copy of the NotesServicer's Certificate furnished pursuant to Section 3.10. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Servicer shall prepare and execute and the Indenture Trustee and the Owner Trustee shall mail, mail to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required prepared and supplied by the Code Servicer containing the sum of the amounts set forth in each of clauses (i) , (iv) , (viii) , (x) and (xi) , for such calendar year or, if such Person shall have been a Securityholder during a portion of such calendar year and received any payments thereon, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Securityholder's preparation of federal income tax returns.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Navistar Financial Retail Receivables Corporation)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.093.10 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reservedthe net amount, if any, of any payments due under all Interest Rate Swaps (specifying, if applicable, any amounts owing as a result of an Early Termination Date under the Notes);]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) aboveabove [and to all reinvestments described under clause (xv) below]; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) [the aggregate amount of in the Payment Ahead Servicing Account or on deposit with the Servicer as Payments Ahead and the change in such distribution allocable to amount from the Certificateholdersprevious Distribution Date;] (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)[reserved]; (ix) the amount of the Basic Servicing Fee [and the Additional Servicing Fee] paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);Certificateholder, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]LIBOR for such Distribution Date and the interest rate on each class of Floating Rate Notes; (xv) [the Aggregate Additional Receivables Principal Balance for such Distribution Date (related to the Revolving Period only); (xvi) the balance of the Accumulation Account after giving effect to payments to and distributions from such account on such Distribution Date (related to the Revolving Period only);] (xvii) cash flows received during the related Monthly Collection Period and their sources; (xvixviii) [whether the Revolving Period has terminated early as a result of the occurrence of an Early Amortization Event (related to the Revolving Period only)]; (xix) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xviixx) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiixxi) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;; and (xixxxii) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 1 contract

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables LLC)

Statements to Securityholders. (a) On each Distribution Date, the CARAT Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each CARAT 20__-SN_ Certificateholder, and the CARAT Indenture Trustee shall include with each distribution make available to each CARAT 20__-SN_ Noteholder, a statement (which statement shall also be provided by the Servicer made available to the Rating AgenciesAgencies by the Trust Administrator) (if any Rated Notes are outstanding) prepared by the Servicer Trust Administrator and provided to the CARAT Indenture Trustee in an electronic format acceptable for the CARAT Indenture Trustee, based on information in the ServicerTrust Administrator’s Accounting furnished pursuant to Section 2.093.06 of the Pooling and Administration Agreement. Each such statement to be delivered made available to the CARAT 20__-SN_ Certificateholders and CARAT 20__-SN_ Noteholders, respectively, shall comply with Regulation AB and set forth the following information, based solely upon the information provided to it by the Trust Administrator in the Trust Administrator’s Accounting, concerning the CARAT 20__-SN_ Certificates or the CARAT 20__-SN_ Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) Determination Dates and Distribution Dates used to calculate distributions on the CARAT 20__-SN_ Notes and any CARAT 20__-SN_ Certificates; (ii) the amount of such distribution allocable to principal of each class of the NotesCARAT 20__-SN_ Notes and the amount of any distribution to the CARAT 20__-SN_ Certificates; (iiiii) the amount of the distribution, if any, allocable to any interest on the CARAT 20__-SN_ Certificates and interest on or with respect to each class of the CARAT 20__-SN_ Notes; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as net amount, if any, of any payments due by the close of business on Issuing Entity or to be received by the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution DateIssuing Entity under any Interest Rate Swap; (v) the net amount, if any, of any payments due by the Issuing Entity or to be received by the Issuing Entity in respect of an Early Termination Date payable under any Interest Rate Swap; (vi) the Note Principal Balance for each class of Notes and CARAT 20__-SN_ Notes, the Aggregate Note Principal Balance, and the Note Pool Factor for each class of NotesCARAT 20__-SN_ Notes and the certificate pool factor for each class of CARAT 20__-SN_ Certificates, each as of such Distribution Date after giving effect to all payments described under clause clauses (iii) and (iii) above; (vivii) the First Priority Principal Distributable Amount, the Second Priority Principal Distributable Amount and the Noteholders’ Regular Principal Distributable Amount for such Distribution Date; (viii) the amount of the Class A Notes Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Notes Interest Carryover Shortfall and the Class D C Notes Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (viiix) the amount of such distribution allocable to the Certificateholders; (viii) any amounts Administration Fee paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Trust Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) and the amount of the Basic Servicing Fee and Additional Servicing Fee (each as defined in Exhibit A in the COLT Servicing Agreement) paid to the Servicer with respect to the related Monthly Period; (x) the amountLIBOR for such Distribution Date and the corresponding interest rate on each class of Floating Rate Notes and Fixed Rate Notes and the CARAT 20__-SN_ Certificates, if any, and purpose of any other fees or expenses accrued or paidfor such Distribution Date; (xi) the COLT 20__-SN_ Secured Note Rate (as defined in Exhibit A to the COLT Servicing Agreement); (xii) the aggregate amount in the Payment Ahead Servicing Account (as defined in Exhibit A to the COLT Servicing Agreement) and the change in that amount during the related Monthly Period; (xiii) the amount on deposit in the Reserve Account, if any, on such Distribution Date, after giving effect to any withdrawals or deposits on such date, and the Reserve Account Required Amount on such date; (xiv) the amount, if any, distributed to Noteholders the CARAT 20__-SN_ Noteholders, the CARAT 20__-SN_ Certificateholders and the Depositor from amounts on deposit in the Reserve Account; (xiixv) the amount, if any, aggregate amount of excess cash distributed from Advances made by the Reserve Account Servicer under the COLT Servicing Agreement with respect to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)related Monthly Period; (xiiixvi) the balance amount of any Pull Ahead Payments made by Ally Financial, in its capacity as agent for General Motors, under the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date)COLT Pull Ahead Funding Agreement and the number of Series 20__-SN_ Lease Assets that became Pull Ahead Lease Assets during the related Monthly Period; (xivxvii) [Reserved]; (xv) cash flows received the amount of Aggregate Residual Losses or credit losses on the Series 20__-SN_ Lease Assets during the related Monthly Period and their sourcesthe aggregate amount of residual or credit losses on the Series 20__-SN_ Lease Assets since the Cutoff Date; (xvixviii) the number and dollar amount Aggregate ABS Value of Receivables Series 20__-SN_ Lease Assets at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, prepayment rates, cumulative net losses or gains on returned vehicles sold by Ally Financial and prepaymentsnumber of leases terminated; (xviixix) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates aggregate Warranty Payment (as defined in Exhibit A to the extent the Certificates are held by Persons other than Ally Bank or its AffiliatesCOLT Servicing Agreement); (xxi) whether a Delinquency Trigger has been met or exceeded;the aggregate Administrative Purchase Payment (as defined in Exhibit A to the COLT Servicing Agreement); and (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change material changes in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) solicitation, credit-granting, underwriting, origination, acquisition or pool selection criteria or procedures used to acquire or select the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchaseSeries 20__-SN_ Lease Assets, sale or other disposition of such Notes or Certificatesif any. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), vii) and (xiiiviii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the CARAT 20__-SN_ Notes. On each Distribution Date, the CARAT Indenture Trustee shall make available to each CARAT 2010-SN1 Noteholder a copy of the Servicer’s Certificate as delivered to the CARAT Indenture Trustee by the Servicer pursuant to Section 2.15 of the COLT Servicing Agreement. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the CARAT Indenture Trustee and the CARAT Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder Holder of CARAT 20__-SN_ Notes or CARAT 20__-SN_ Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder Securityholder to prepare its federal income tax returns.

Appears in 1 contract

Samples: Trust Sale and Administration Agreement (Central Originating Lease Trust)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution prepare and make available via its website at www.jpmorgan.com/absmbs to each NoteholderNoteholder of record as of the mosx xxxxxx Xxxxxx Xxxx, xnd shall provide to each Rating Agency, the Seller and to the Owner Trustee (with a copy to each Paying Agent (if any)) for the Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information substantially in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set form of Exhibit A setting forth at least the following information concerning as to the Certificates or Securities to the Notesextent applicable: (a) the amount of collections received with respect to the Receivables during the related Collection Period and allocable to principal allocable to each Class of Notes on such Distribution Date; (b) the amount of collections received with respect to the Receivables during the related Collection Period and allocable to interest allocable to each Class of Notes on such Distribution Date; (c) the amount of the Regular Principal Allocation for such Distribution Date; (d) the amount of the First Allocation of Principal, as appropriateif any, for such Distribution Date; (e) the amount of the Second Allocation of Principal, if any, for such Distribution Date; (f) the amount of the Third Allocation of Principal, if any, for such Distribution Date; (g) the Pool Balance with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable Date, after giving effect to payments allocated to principal of each class of the Notesreported under clause (a) above; (iih) the amount Outstanding Amount of the distribution, if any, allocable to interest on or with respect to each class Class of Notes; (iii) [Reserved]; (iv) , the Aggregate Receivables Principal Note Pool Factor for each such Class, and the Note Balance for each such Class as of the close of business on the last day preceding Distribution Date, after giving effect to payments allocated to principal reported under clause (a) above; (i) the amount of such Monthly the Servicing Fee and Servicing Reimbursement Amount paid to the Servicer with respect to the related Collection Period; (j) the respective amounts of the Owner Trustee Fee paid to the Owner Trustee and the Indenture Trustee Fee paid to the Indenture Trustee in each case with respect to the related Collection Period; (k) the aggregate amounts of Realized Losses, if any, and Cram Down Losses, if any, separately identified, with respect to the Aggregate Receivables related Collection Period; (l) the aggregate Principal Balance of all Receivables that became Defaulted Receivables or Repurchased Receivables during the related Collection Period; (m) the aggregate Principal Balance and number of Receivables that are 30 to 59 days, 60 to 89 days or 90 days or more delinquent as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Daterelated Collection Period; (vn) the Note Principal Balance for each class of Notes and the Aggregate Note Principal BalanceClass A-1 Interest Carryover Shortfall, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A A-2 Interest Carryover Shortfall, the Class A-3 Interest Carryover Shortfall, the Class A-4 Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if anyin each case after giving effect to payments on such Distribution Date, and the any change in each of such amounts from the preceding statement; (o) the aggregate Repurchase Amounts for Repurchased Receivables, if any, that were or are to be purchased during or with respect to such Collection Period; (p) the aggregate Principal Balance and number of all Receivables with respect to which the related Financed Vehicle was repossessed; (q) the aggregate Principal Balance and number of Receivables with respect to which the Servicer granted an extension; (r) the Overcollateralization Target Amount for the next Distribution Date; (viis) the amount Cumulative Net Loss Ratio as of such distribution allocable to the CertificateholdersDetermination Date; (viiit) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)Annualized Net Loss Ratio as of such Determination Date; (ixu) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information Three-Month Annualized Net Loss Ratio as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation ABDetermination Date; and (xxviiiv) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition Pool Delinquency Percentage as of such Notes or CertificatesDetermination Date. Each amount set forth pursuant to on the Distribution Date Statement under clauses (ia), (iib), (vic), (xid), (xiie), and (xiiif), (i) or (j) above shall be expressed as a dollar amount per $1,000 of initial original principal amount balance of the Notesa Note. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in mail or send by facsimile to the Trust Agreement) deliver to each CertificateholderSecurityholders, the Rating Agencies and the Indenture Trustee shall include with each distribution to each NoteholderSecurity Insurer a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting 's Security furnished to the Trustee by the Servicer pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders4.9, respectively, shall comply with Regulation AB and set setting forth for the following information concerning the Certificates or the Notes, as appropriate, with respect Collection Period relating to such Distribution Date or the preceding Monthly Period:following information (which in the case of items (i), (ii) and (iii) shall be based on a Security in a principal amount of $1,000): (i) the amount of such the distribution allocable to principal of each class of the Notesprincipal, including any overdue principal; (ii) the amount of the distribution, if any, distribution allocable to interest on or with respect to each class of Notesinterest, including any overdue interest; (iii) [Reserved]the Monthly Servicing Fee, including any overdue Monthly Servicing Fee, and the Monthly Trustee's Fee; (iv) the Aggregate amount of any Insured Payments; (v) the Reserve Account Withdrawal Amount and the Yield Maintenance Withdrawal Amount; (vi) the aggregate Net Losses on the Receivables Principal for the related Collection Period; (vii) the Pool Balance and Security Factor as of the close end of business on the last day of such Monthly related Collection Period, ; (viii) the Aggregate Receivables aggregate Principal Balance of all Receivables which were delinquent 30 days or more as of the close of business on the last day of the second related Collection Period; (ix) the Security Principal Balance (after giving effect to any distribution of Monthly Period preceding Principal made on such Distribution Date (or, for Date) on which Monthly Interest will be calculated with respect to the first next succeeding Distribution Date, ; (x) the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for Delinquency Percentage relating to such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts aggregate of all Purchase Amounts received on deposit in the Reserve Accountrelated Determination Date; (xii) the amountaggregate amount received with respect to Defaulted Receivables, if anyincluding Liquidation Proceeds, of excess cash distributed from during the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);related Collection Period; and (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on Reimbursement Amount for such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereonSecurityholder, a statement containing the sum of the amounts determined in clauses (i), (ii) and (iii) for such calendar year or, in the event such Person shall have been a Securityholder during a portion of such calendar year, for the applicable portion of such year, unless substantially comparable information as may be required by has been provided to such Securityholder, for the Code and applicable Treasury Regulations to enable purposes of such securityholder to prepare its Securityholder's preparation of federal income tax returns.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chevy Chase Bank FSB)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee Issuer shall (except as otherwise provided in the Trust Agreement) deliver include with each distribution to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on (subject to the last sentence of this paragraph (a)) information in the Servicer’s Accounting 's Certificate furnished pursuant to Section 2.092.17 of the Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning as to the Certificates or the Notes, as appropriate, Notes with respect to such Distribution Date or the preceding Monthly Period, as applicable: (i) the amount of such the distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notes; (iii) [Reserved]; (ivii) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, ; (iii) the Aggregate amount of Outstanding Monthly Advances with respect to all Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (viiv) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Total Servicing Fee paid or payable to the Servicer with respect to the related Monthly Period; (v) the amount of Aggregate Losses for the related Monthly Period; (vi) the Delinquency Percentage for the related Monthly Period; (vii) the sum of all Administrative Purchase Payments and all Warranty Payments made for the related Monthly Period; (viii) the amount of the distribution allocable to principal of each class of Notes; (ix) the Note Principal Balance and the Note Pool Factor for each class of Notes, each after giving effect to all payments reported under (viii) above on such date; (x) the amountamounts, if any, and purpose of any other fees paid to the Servicer or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve AccountAccount plus amounts in respect thereof to be distributed to each class of Noteholders as a prepayment of principal (expressed as a dollar amount per $1,000 of the face amount of the Notes); (xi) the amount of the Class A Noteholders' Interest Carryover Shortfall, the Noteholders' Principal Carryover Shortfall and the Class B Noteholders' Interest Carryover Shortfall if any, and the change in such amounts from the preceding Distribution Date; (xii) the amount, balance (if any, ) of excess cash distributed from the Reserve Account on such date, after giving effect to distributions, withdrawals, transfers and deposits made on such date, and the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 change in such balance from that of the Trust Agreement, then to such Certificate prior Distribution Account for distribution to the Certificateholders on a pro rata basis)Date; (xiii) the balance Negative Carry Amount and the balance, if any, of the Reserve Negative Carry Account on such Distribution Date (date, after giving effect to changes therein the withdrawals made on such Distribution Date)date; (xiv) [Reserved];for Distribution Dates during the Funding Period, the Starting Receivables Balance of all Subsequent Receivables transferred to the Issuer since the preceding Distribution Date, the remaining Pre-Funded Amount and the Investment Earnings on amounts on deposit in the Pre-Funding Account (if any) for the related Monthly Period; and (xv) cash flows received during for the related Monthly Period and their sources; (xvi) first Distribution Date occurring on or after the number and dollar amount of Receivables at the beginning and end last day of the applicable Monthly Funding Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder remaining Pre-Funded Amount that has informed not been used to fund the Indenture Trustee or the Servicer purchase of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or CertificatesSubsequent Receivables. Each amount set forth pursuant to clauses (i), (iiiv), (viviii), (xi), (xii), x) and (xiiixi) above shall be expressed as a dollar amount per $1,000 of initial principal amount Note Principal Balance. In lieu of preparing and delivering a separate statement to Securityholders pursuant to this Section, a Trustee may deliver a copy of the NotesServicer's Certificate furnished pursuant to Section 2.17 of the Servicing Agreement. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Servicer shall prepare and execute and the Indenture Trustee and the Owner Trustee shall mail, mail to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required prepared and supplied by the Code Servicer containing the amounts set forth in each of clauses (i), (iv), (viii), (x) and (xi) in paragraph (a) above, for such calendar year or, if such Person shall have been a Securityholder during a portion of such calendar year and received any payments thereon, for the applicable Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Securityholder's preparation of federal income tax returns.

Appears in 1 contract

Samples: Indenture (Navistar Financial Retail Receivables Corporation)

Statements to Securityholders. (a) On With respect to each Distribution Payment Date, on the Business Day following the related Determination Date, the Owner Servicer shall forward the Servicing Certificate to the Indenture Trustee and the Paying Agent, and the Paying Agent, pursuant to Section 3.26 of the Indenture, shall (except as otherwise provided in the Trust Agreement) deliver on such Payment Date make such Servicing Certificate available to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent, the Paying Agent and each Rating Agency, with a statement (which statement shall also be provided by the Servicer copy to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09Enhancer. Each such statement to be delivered to Certificateholders and Noteholders, respectively, The Servicing Certificate shall comply with Regulation AB and set forth the following information concerning as to the Certificates or Notes and Certificates, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) for each Loan Group, the aggregate amount of (a) Interest Collections, (b) Principal Collections (and, with respect to any Payment Date relating to the Managed Amortization Period, Net Principal Collections) and (c) Substitution Adjustment Amounts for such distribution allocable to principal of each class of the NotesCollection Period; (ii) the amount of such distribution as principal to the distribution, if any, allocable to interest on or with respect to each class of NotesNoteholders; (iii) [Reserved]the amount of such distribution as interest to the Noteholders, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Payment Date; (iv) each Deficiency Amount, if any, for such Payment Date and the Aggregate Receivables Principal Balance as aggregate amount of the close of business prior draws on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution DatePolicy thereunder not yet reimbursed; (v) for the Note Principal Balance for each class of Class A-I-1 Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Class A-II-1 Notes, each as of such Distribution Date after giving effect to all payments described the amount, if any, received under clause (i) abovethe related Yield Maintenance Agreement; (vi) the amount of such distribution to the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution DateCertificateholders; (vii) the amount of such distribution allocable any related Additional Balance Increase Amount payable to the CertificateholdersCertificateholders and the amount of Principal Collections paid in respect of such related Additional Balance Increase Amount; (viii) any amounts paid with respect to the Indenture Trusteeeach Loan Group, the Owner Trustee, aggregate Principal Balance of the Asset Representations Reviewer or Mortgage Loans as of the Administrator incurred pursuant to end of the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)preceding Collection Period; (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to each Loan Group, the number and aggregate Principal Balances of Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days, 150-179 days and 180 or more days, respectively, (b) the related Monthly Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each case as of the end of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the first Payment Date; (x) LIBOR for each of the amountClass A-I-1 Notes, if any, Class A-II-1 Notes and purpose of any other fees or expenses accrued or paidClass A-II-2 Notes for the related Interest Period; (xi) the amountNote Rate for each of the Class A-I-1 Notes, if any, distributed to Noteholders from amounts on deposit in Class A-II-1 Notes and the Reserve AccountClass A-II-2 Notes for such Payment Date; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 Net WAC Rate for each of the Trust AgreementClass A-I-1 Notes, then to such Certificate Distribution Account Class A-II-1 Notes and the Class A-II-2 Notes for distribution to the Certificateholders on a pro rata basis)related Collection Period; (xiii) prior to the balance second Determination Date following the commencement of the Reserve Account on such Distribution Date (after giving effect Rapid Amortization Period, the aggregate amount of Additional Balances created during the previous Collection Period and conveyed to changes therein on such Distribution Date)the Issuer prior to the commencement of the Rapid Amortization Period; (xiv) [Reserved]the aggregate Liquidation Loss Amounts for each Loan Group (other than amounts allocated in respect of the Excluded Amount) with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of Liquidation Loss Amounts and the aggregate of the Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts and other than amounts allocated in respect of the Excluded Amount) from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (xv) cash flows received during the related Monthly Period Note Balance of the Notes and their sourcesthe Certificate Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xvi) with respect to each Loan Group, the number and dollar amount of Receivables at the beginning and end balance of the applicable Monthly Period, and updated pool composition information related Funding Account as of the end of the Monthly preceding Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquenciesPercentage Interest applicable to each of the Securities, charge-offs and uncollectible accountsafter application of payments made on such Payment Date; (xviii) the amount of receivables with respect to which material breaches each Loan Group, the related Overcollateralization Amount as of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.preceding Collection Period;

Appears in 1 contract

Samples: Servicing Agreement (Wachovia Asset Securitization Inc 2003-He2 Trust)

Statements to Securityholders. (a) On With respect to each Distribution Payment Date, the Owner Servicer shall forward to the Indenture Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall (except as otherwise provided in the Trust Agreement) deliver forward or cause to be forwarded by mail to each Certificateholder, Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and the Indenture Trustee shall include with each distribution to each NoteholderRating Agency, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set setting forth the following information concerning as to the Certificates or Notes and Certificates, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the aggregate amount of such distribution allocable (a) Security Interest Collections with respect to principal of each class of the NotesNotes and the Certificates, (b) aggregate Security Principal Collections with respect to the Notes and the Certificates and (c) Security Collections for the related Collection Period with respect to the Notes and the Certificates; (ii) the amount of such distribution to the distribution, if any, allocable Securityholders of the Notes and the Certificates applied to interest reduce the principal balance thereof and separately stating the portion thereof in respect of the Accelerated Principal Distribution Amount and the amount to be deposited in the Funding Account on or with respect to each class of Notessuch Payment Date; (iii) [Reserved]the amount of such distribution to the Securityholders of the Notes and the Certificates allocable to interest and separately stating the portion thereof in respect of overdue accrued interest; (iv) the Aggregate Receivables Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (v) the aggregate Principal Balance of (a) the ________ Loans, (b) the ______ Loans, (c) the _________ Loans, as of the end of the preceding Collection Period and (d) all of the Mortgage Loans; (vi) the Weighted Average Net Mortgage Rate for the related Collection Period and the Weighted Average Net Mortgage Rate for the aggregate of the Stated Principal Balance of (A) all of the Mortgage Loans and (B) the Adjustable Rate Mortgage Loans, for the following Collection Period; (vii) the Special Capital Distribution Amount and the Required Special Capital Distribution Amount, in each case as the end of the related Collection Period; and (viii) the aggregate amount of Additional Loans acquired during the previous Collection Period with amounts in respect of Net Principal Collections from the Funding Account; (ix) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount of any remaining Carryover Loss Amount with respect to the Notes and Certificates, respectively, and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as a percentage of the sum of (a) the Cut-Off Date Pool Balance and (b) the amount by which the Pool Balance as of the close of business latest date that the Additional Loans have been transferred to the Depositor exceeds the Cut-Off Date Pool Balance; (x) any unpaid interest on the last day of Notes and Certificates, respectively, after such Monthly Period, Distribution Date; (xi) the Aggregate Receivables aggregate Principal Balance of each Class of Notes and of the Certificates after giving effect to the distribution of principal on such Payment Date; (xii) the respective Security Percentage applicable to the Notes and Certificates, after application of payments made on such Payment Date; (xiii) the amount distributed pursuant to Section 3.05(a)(xi) of the Indenture on such Payment Date; (xiv) the applicable record dates, accrual periods, determination dates for calculating distributions and general distribution dates; (xv) the total cash flows received and the general sources thereof; (xvi) the related amount of the Servicing Fees paid to or retained by the Master Servicer for the related Due Period; (xvii) the amount of any Net Swap Payment payable to the Derivative Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Derivative Administrator and any Swap Termination Payment payable to the Swap Provider; (xviii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates; (xix) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date; (xx) the number and Stated Principal Balance of the Mortgage Loans in each Loan Group in respect of which (A) one Scheduled Payment is Delinquent, (B) two Scheduled Payments are Delinquent, (C) three or more Scheduled Payments are Delinquent and (D) foreclosure proceedings have been commenced, in each case as of the close of business on the last day of the second Monthly Period calendar month preceding such Distribution Date (or, and separately identifying such information for the (1) first Distribution Datelien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group; provided, however, that such information will not be provided on the Initial Aggregate Receivables Principal Balance) and statements relating to the Principal Distributable Amount for such Distribution first Payment Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vixxi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit Advances included in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein including the general purpose of such Advances), the aggregate amount of unreimbursed Advances at the close of business on such the Distribution Date), and the general source of funds for reimbursements; (xivxxii) [Reserved]the cumulative amount of Applied Realized Loss Amounts to date; (xvxxiii) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Periodif applicable, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or Mortgage Loan terms, fees, penalties or payments on, pool assets during the distribution period preceding calendar month or that, cumulatively, that have become material over time; (xxxxiv) with respect to any Mortgage Loan that was liquidated during the outstanding notional amount preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the Certificates to close of business on the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in Determination Date preceding such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale AgreementDistribution Date; (xxv) the total number and principal balance of any voting instructions and procedures pursuant to Section 5.17(b) real estate owned or REO Properties as of the Indentureclose of business on the Determination Date preceding such Distribution Date; (xxvi) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information with respect to any change in for the Asset Representations Reviewer as required by Item 1121(d)(2(1) of Regulation ABfirst lien Mortgage Loans, and (2) Adjustable Rate Mortgage Loans; (xxvii) any asset level information as required by Item 1111(hthe Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month; (xxviii) and Item 1125 of Regulation ABwhether a Trigger Event exists; (xxix) updated pool composition data including the following with respect to each Loan Group: average loan balance, weighted average mortgage rate, weighted average loan-to-value ratio at origination, weighted average FICO at origination weighted average remaining term; and (xxviiixxx) the nature and amount information about any additions of, substitutions for or removal of any material change Mortgage Loans from the Trust Fund, and any changes in the Seller’s underwriting, acquisition or an Affiliate’s interest in selection criteria as to any Mortgage Loans added to the Notes or Certificates from Trust Fund. In the purchase, sale or other disposition case of such Notes or Certificates. Each amount set forth information furnished pursuant to clauses (i), (ii), (vi), (xi), (xii), ) and (xiiiiii) above above, the amounts shall be expressed as a an aggregate dollar amount per Note or Certificate with a $1,000 denomination. Prior to the close of initial principal amount of business on the Notes. (b) Within Business Day next succeeding each Determination Date, the prescribed period of time for tax reporting purposes after Servicer shall furnish a written statement to the end of each calendar year during Depositor, the term of this AgreementOwner Trustee, the Depositor, the Certificate Paying Agent and the Indenture Trustee setting forth (i) all the foregoing information, (ii) the aggregate amounts required to be withdrawn from the Collection Account and deposited into the Payment Account on the Business Day preceding the Payment Date pursuant to Section 3.03 and (iii) the amounts (A) withdrawn from the Payment Account and deposited to the Funding Account pursuant to Section 8.02(b) of the Indenture and (B) withdrawn from the Funding Account and deposited to the Collection Account pursuant to Section 8.02(c)(i) of the Indenture. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Indenture Trustee shall mailbe protected in relying upon the same without any independent check or verification. In addition, to each Person who at any time during such calendar year upon the Depositor's written request, the Servicer shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such promptly furnish information as may be required reasonably requested by the Code and applicable Treasury Regulations Depositor that is reasonably available to the Servicer to enable such securityholder the Depositor to prepare perform its federal and state income tax returnsreporting obligations.

Appears in 1 contract

Samples: Servicing Agreement (Structured Asset Mortgage Investments Ii Inc)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreementi) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each NoteholderNoteholder of record as of the related Record Date and (ii) the Owner Trustee shall include with each distribution to each Certificateholder of record as of the related Record Date a statement, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer Master Servicer, based on the information in the Servicer’s Accounting Distribution Date Statement furnished pursuant to Section 2.09. Each 4.09, setting forth for such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth Distribution Date the following information concerning as of the Certificates related Record Date or the Notessuch Distribution Date, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodcase may be: (i) the amount of such distribution allocable to principal (stated separately for each Class of each class of the Notes); (ii) the amount of the distribution, if any, such distribution allocable to interest on or with respect to (stated separately for each class Class of Notes); (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Due Period, ; (iv) the Aggregate Receivables Principal Balance as amount of the close of business on Servicing Fee paid to the last day of Master Servicer with respect to the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Daterelated Due Period; (v) the amount of any Note Interest Carryover Shortfall and Note Principal Balance for each class of Notes Carryover Shortfall on such Distribution Date and the Aggregate Note Principal Balance, and change in such amounts from those with respect to the immediately preceding Distribution Date; (vi) the Note Pool Factor for each class Class of Notes, each Notes as of such Distribution Date Date, after giving effect to all payments described allocated to principal reported under clause (i) above; (vivii) the Certificate Distributable Amount; (viii) the amount of on deposit in the Class A Interest Carryover ShortfallSpread Account on such Distribution Date, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if anyafter giving effect to distributions made on such Distribution Date, and the change in each of such amounts balance from the immediately preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c);; and (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein Optional Repurchase Payment payable on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses subclauses (i), (ii), (vi), iv) or (xi), (xii), and (xiiiv) above shall be expressed as a dollar amount per $1,000 of initial 1,000.00 original principal amount of the Notesa Note. (b) Within the prescribed a reasonable period of time for tax reporting purposes after the end of each calendar year during year, but not later than the term of this Agreementlatest date permitted by law, the Indenture Trustee and the Owner Trustee shall mail, mail to each Person who at any time during such calendar year shall have been a holder Holder of Notes or Certificates, respectively, and received any payments thereon, a Note a statement containing such information as may be required or statements, prepared by the Code Master Servicer, which in the aggregate contain the sum of the amounts set forth in clauses (i), (ii), (iv) and (v) 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 Treasury Regulations to enable portion of such securityholder to prepare its year, for the purposes of such Noteholder's preparation of federal income tax returns. In addition, the Master Servicer shall furnish to the Indenture Trustee for distribution to such Person at such time any other information necessary under applicable law for the preparation of such income tax returns.

Appears in 1 contract

Samples: Sale and Servicing Agreement (WFS Receivables Corp)

Statements to Securityholders. (a) On or prior to each Distribution Payment Date, the Servicer shall provide to the Trustee and the Owner Trustee shall (except as otherwise provided with a copy to the Note Insurer and the Rating Agencies) for the Trustee and the Owner Trustee to forward to each Securityholder of record (in the Trust Agreementcase of the Trustee, pursuant to Sections 5.8(b) deliver to each Certificateholder, and 5.9(a) hereof) the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be or statements provided by the Servicer to in substantially the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set form attached hereto as Exhibit E setting forth at least the following information concerning as to the Notes and the Residual Pass-through Certificates or to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the amount of such distribution allocable to principal of each class Class of Notes and the NotesResidual Certificate Principal Distributable Amount; (ii) the amount of the distribution, if any, such distribution allocable to interest on or with respect to each class Class of NotesNotes and Residual Certificate Interest Distributable Amount; (iii) [Reserved]; (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Pool Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Daterelated Collection Period; (viv) the Note Principal Balance for each class Class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described allocated to principal reported under clause (i) above and the Residual Certificate Notional Balance after giving effect to the Residual Certificate Principal Distributable Amount reported under clause (i) above; (viv) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Collection Period, and the amount of any unpaid Servicing Fees and the change in such amount from the prior Payment Date; (xvi) the amount of the Backup Servicing Fee, the Trustee Fees and the Cayman Trustee Fees paid to the Backup Servicer, the Trustee, the Owner Trustee and the Cayman Trust, as applicable, and the Supplemental Residual Certificate Distribution, if any, in each case with respect to the related Collection Period, and the amount of any unpaid Backup Servicing Fees, Trustee Fees and Cayman Trustee Fees and the amount of any unpaid Supplemental Residual Certificate Distributions and the change in all such amounts from the prior Payment Date; (vii) the Noteholders' Interest Carryover Shortfall for each Class of Notes and the Residual Certificate Interest Carryover Shortfall for such Payment Date; (viii) the amount, if any, paid to the Noteholders under the Note Policy or from the Series 2007-B Spread Account for such Payment Date; (ix) the amount distributable to the Note Insurer on such Payment Date; (x) the aggregate amount in the Series 2007-B Spread Account and purpose of any other fees or expenses accrued or paidthe change in such amount from the previous Payment Date and the Specified Spread Account Requisite Amount for such Payment Date; (xi) 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 60 days, (b) 61 to 90 days, and (c) 91 days or more; (xii) the aggregate amount in the Capitalized Interest Account and the change in such amount from the previous Payment Date and the Requisite Reserve Amount for such Payment Date; (xiii) the number and the aggregate Purchase Amounts for Receivables purchased by CPS or purchased by the Servicer during the related Collection Period and summary information as to losses and delinquencies with respect to such Receivables; (xiv) the Principal Balance of all Receivables that have become Liquidated Receivables, net of Recoveries, during the related Collection Period; (xv) the cumulative Principal Balance of all Receivables that have become Liquidated Receivables, net of Recoveries, during the period from the Cutoff Date to the last day of the related Collection Period; (xvi) for any Payment Date during the Funding Period, the Pre-Funded Amount and the change in such amount from the previous Payment Date; (xvii) for the Mandatory Redemption Date, the amount of any remaining Pre-Funded Amount that was not used to fund the purchase of Subsequent Receivables; (xviii) the amount, if any, distributed to Noteholders from amounts on deposit in paid by the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account Note Insurer to the Certificateholders (or if Trustee for deposit into the Certificate Distribution Collection Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred5.12; (xix) the amount of any material modifications, extensions or waivers relating Texas Franchise Tax due and owing by CPS under the Receivables Purchase Agreement to the terms taxing authority of the State of Texas on or fees, penalties prior to the related Payment Date or payments on, pool assets during paid by CPS since the distribution period or that, cumulatively, have become material over time;prior Payment Date; and (xx) the outstanding notional amount Three-Month Rolling Average Extension Ratio, the Cumulative Net Loss Rate, the Delinquency Ratio and the Three-Month Rolling Average Delinquency Ratio. (b) Within 60 days after the end of each calendar year, the Certificates Servicer shall deliver to the extent Trustee a statement setting forth the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information amounts paid during such preceding calendar year in respect of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses paragraphs (i), (ii), (vi), (xi), (xii), v) and (xiiivi) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner above. The Trustee shall mail, mail a copy of such statement to each Person person who at any time during such preceding calendar year shall have been a holder Securityholder of Notes or Certificates, respectively, record and received any payments thereonpayment in respect of the Securities. (c) The Trustee may make available to the Securityholders, via the Trustee'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 statement containing such information as may be required password provided by the Code Trustee. The Trustee will make no representation or warranties as to the accuracy or completeness of such documents and applicable Treasury Regulations will assume no responsibility therefor. The Trustee's Internet Website shall be initially located at "xxx.XXXXxxx.xxx" or at such other address as shall be specified by the Trustee from time to enable such securityholder time in writing to prepare its federal income tax returnsthe Securityholders. In connection with providing access to the Trustee's Internet Website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of information in accordance with this Agreement.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Consumer Portfolio Services Inc)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s 's Accounting furnished pursuant to Section 2.093.10 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the NotesNotes and to the Certificate Balance; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notessecurities; (iii) [Reserved]the net amount, if any, of any payments due under all Interest Rate Swaps (specifying, if applicable, any amounts owing as a result of an Early Termination Date under the Notes or the Certificates); (iv) the Aggregate Receivables Discounted Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Discounted Principal Balance as of the close of business on the last day of the second Monthly Period monthly period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Discounted Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and Notes, the Aggregate Note Principal Balance, and the Certificate Balance, the Note Pool Factor for each class of NotesNotes and the Certificate Pool Factor, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Noteholders' Interest Carryover Shortfall, the Class B Noteholders' Principal Carryover Shortfall, the Certificateholders' Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Certificateholders' Principal Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the aggregate amount of in the Payment Ahead Servicing Account or on deposit with the Servicer as Payments Ahead and the change in such distribution allocable to amount from the Certificateholdersprevious Distribution Date; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)amount of Outstanding Monthly Advances on such Distribution Date; (ix) the amount of the Basic Total Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders and Certificateholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiixi) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xii) LIBOR for such Distribution Date and the interest rate on the Floating Rate Notes; (xiii) the Additional Receivables Discounted Principal Balance for such Distribution Date (related to the Revolving Period only); (xiv) [Reserved];the balance of the Accumulation Account after giving effect to payments to and distributions from such account on such Distribution Date (related to the Revolving Period only); and (xv) cash flows received during whether the related Monthly Revolving Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end has terminated early as a result of the applicable Monthly Period, and updated pool composition information as occurrence of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; an Early Amortization Event (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating related to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or CertificatesRevolving Period only). Each amount set forth pursuant to clauses (i), (ii), (viiv), (xi), (xiivii), and (xiiiviii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the NotesNotes or of the Certificate Balance, as applicable. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 1 contract

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables Inc)

Statements to Securityholders. (a) On each Distribution Determination Date, the Owner Trustee Servicer shall (except as otherwise provided in the Trust Agreement) deliver provide to each Certificateholder, and the Indenture Trustee shall include (with each distribution a copy to each Noteholder, Rating Agency and each Paying Agent (if any)) for the Indenture Trustee to forward to each Noteholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent (if any)) for the Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information substantially in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set form of Exhibit B setting forth at least the following information concerning as to the Certificates or Securities to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (ia) the amount of such distribution collections received with respect to the Receivables during the related Collection Period and allocable to principal allocable to each Class of each class of the NotesNotes on such Payment Date; (iib) the amount of collections received with respect to the distribution, if any, Receivables during the related Collection Period and allocable to interest on or with respect allocable to each class Class of NotesNotes on such Payment Date; (iii) [Reserved]; (ivc) the Aggregate Receivables Principal Balance Outstanding Amount of each Class of Notes, the Note Pool Factor for each such Class as of the close of business on the last day related Payment Date, after giving effect to payments allocated to principal reported under clause (a) above; (d) the amount of such Monthly Periodthe Servicing Fee paid to the Servicer and the amount of any fees payable to the Owner Trustee, the Aggregate Receivables Principal Custodian or the Indenture Trustee with respect to the related Collection Period; (e) the amount of any interest carryover shortfall on such Payment Date and the change, if any, in such amounts from those with respect to the immediately preceding Payment Date; (f) the aggregate amounts of Realized Losses, if any, with respect to the related Collection Period; (g) the Pool Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (orrelated Collection Period, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described allocated to principal reported under clause (ia) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiiih) the balance of the Reserve Account on such Distribution the related Determination Date (after giving effect to changes therein deposits and withdrawals to be made on such Distribution Payment Date), if any; (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviiii) the amount of receivables any deposit to the Reserve Account and the amount and application of any funds withdrawn from the Reserve Account with respect to such Payment Date; (j) the aggregate principal balance of all Receivables that became Liquidated Receivables or Purchased Receivables during the related Collection Period; (k) the aggregate principal balance and number of Receivables that are 30 to 59 days, 60 to 89 days or 90 days or more delinquent as of the last day of the related Collection Period; (l) any Available Amounts Shortfall after giving effect to payments on such Payment Date, and any change in such amounts from the preceding statement; (m) the aggregate Purchase Amounts for Receivables, if any, that were or are to be purchased during or with respect to such Collection Period; (n) the aggregate Principal Balance and number of all Receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurredthe related Financed Vehicle was repossessed; (xixo) any material modifications, extensions or waivers relating the amount to be distributed to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over timeCertificate Distribution Account; (xxp) the outstanding notional amount aggregate Principal Balance and number of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information Receivables with respect to any change in which the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation ABServicer granted a deferment; and (xxviiiq) the nature and amount of any material change in Yield Supplement Overcollateralization Amount for the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificatesnext Payment Date. Each amount set forth pursuant to on the Payment Date statement under clauses (ia), (ii), b) or (vi), (xi), (xii), and (xiiil) above shall be expressed as a dollar amount per $1,000 of initial original principal amount balance of a Note. The Indenture Trustee will make such report (and, at its option, any additional files containing the Notes. same information in an alternative format) available each month to Noteholders and the Rating Agencies via the Indenture Trustee's internet website. The Indenture Trustee's internet website shall initially be located at "www.sf.citidirect.com". Such parties that are unable to use the wexxxxx xxx xxxxxxxx xx have a paper copy mailed to them via first class mail by calling the customer service desk at (b212) Within 657-2186 and indicating such. The Indenture Trustee shall haxx xxx xxxxx xo change the prescribed period of time for tax reporting purposes after way such statements are distributed in order to make such distribution more convenient or more accessible to the end of each calendar year during the term of this Agreement, above parties and the Indenture Trustee shall provide timely and the Owner Trustee shall mail, adequate notification to each Person who at all above parties regarding any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returnschanges.

Appears in 1 contract

Samples: Sale and Servicing Agreement (BMW Fs Securities LLC)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee Bond Administrator shall (except as otherwise provided in the Trust Agreement) deliver prepare and make available via its website at www.jpmorgan.com/absmbs to each CertificateholderNoteholder of record as of the mosx xxxxxx Xxxxxx Xxxx, xnd shall provide to each Rating Agency, Salomon Smith Barney Inc. and the Indenture Trustee shall include with each distribution Trustee, and to the Owxxx Xxxxxxx (wxxx x copy to each NoteholderPaying Agent (if any)) for the Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information substantially in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set form of Exhibit A setting forth at least the following information concerning as to the Certificates or Securities to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (ia) the amount of such distribution collections received with respect to the Receivables during the related Collection Period and allocable to principal allocable to each Class of each class of the NotesNotes on such Distribution Date; (iib) the amount of collections received with respect to the Receivables during the related Collection Period and allocable to interest allocable to each Class of Notes on such Distribution Date; (c) the amount of the distributionRegular Principal Allocation for such Distribution Date; (d) the amount of the First Allocation of Principal, if any, allocable to interest on or with respect to each class of Notesfor such Distribution Date; (iiie) [Reserved]the amount of the Second Allocation of Principal, if any, for such Distribution Date; (ivf) the Aggregate Receivables Principal Balance as amount of the close Third Allocation of business on Principal, if any, for such Distribution Date; (g) the last day of such Monthly Period, the Aggregate Receivables Principal Pool Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date related Collection Period, after giving effect to payments allocated to principal reported under clause (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balancea) and the Principal Distributable Amount for such Distribution Dateabove; (vh) the Note Principal Balance for Outstanding Amount of each class Class of Notes and the Aggregate Note Principal BalanceNotes, and the Note Pool Factor for each class of Notessuch Class, and the Note Balance for each such Class as of such the close of business on the preceding Distribution Date Date, after giving effect to all payments described allocated to principal reported under clause (ia) above; (vii) the amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period; (j) the respective amounts of the Owner Trustee Fee paid to the Owner Trustee, the Indenture Trustee Fee paid to the Indenture Trustee and the Bond Administrator Fee paid to the Bond Administrator, in each case with respect to the related Collection Period; (k) the aggregate amounts of Realized Losses, if any, and Cram Down Losses, if any, separately identified, with respect to the related Collection Period; (l) the aggregate Contract Value of all Receivables that became Liquidated Receivables or Purchased Receivables during the related Collection Period; (m) the aggregate Contract Value and number of Receivables that are 30 to 59 days, 60 to 89 days or 90 days or more delinquent as of the last day of the related Collection Period; (n) the Class A A-1 Interest Carryover Shortfall, the Class A-2 Interest Carryover Shortfall, the Class A-3 Interest Carryover Shortfall, the Class A-4 Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if anyin each case after giving effect to payments on such Distribution Date, and the any change in each of such amounts from the preceding statement; (o) the aggregate Purchase Amounts for Receivables, if any, that were or are to be purchased during or with respect to such Collection Period; (p) the aggregate Contract Value and number of all Receivables with respect to which the related Financed Vehicle was repossessed; (q) the aggregate Contract Value and number of Receivables with respect to which the Servicer granted an extension; (r) the aggregate Contract Value of Receivables that are 60 days or more delinquent (including Receivables relating to Financed Vehicles that have been repossessed), as of such Determination Date, as a percentage of the aggregate Contract Value of the Receivables as of such Determination Date; (s) the Overcollateralization Target Amount for the next Distribution Date; (viit) the amount Cumulative Net Loss Rate as of such distribution allocable to the CertificateholdersDetermination Date; (viiiu) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)Pool Annualized Net Loss Rate as of such Determination Date; (ixv) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information Pool Delinquency Rate as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation ABDetermination Date; and (xxviiiw) the nature and amount monthly average of any material change in the Seller’s or an Affiliate’s interest in ratio of (x) qualified loan collectors employed by the Notes or Certificates from Servicer for contracts related to motor vehicles to (y) Receivables serviced by the purchase, sale or other disposition of such Notes or CertificatesServicer pursuant to this Agreement. Each amount set forth pursuant to on the Distribution Date Statement under clauses (a), (b), (c), (d), (e), (f), (i), (iij), (vi), k) or (xi), (xii), and (xiiiq) above shall be expressed as a dollar amount per $1,000 of initial original principal amount balance of the Notesa Note. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 1 contract

Samples: Sale and Servicing Agreement (SSB Vehicle Securities Inc SSB Auto Loan Trust 2002-1)

Statements to Securityholders. (a) On With respect to each Distribution Payment Date, the Owner Servicer shall forward to the Indenture Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall (except as otherwise provided in the Trust Agreement) deliver forward or cause to be forwarded by mail to each Certificateholder, Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and the Indenture Trustee shall include with each distribution to each NoteholderRating Agency, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set setting forth the following information concerning as to the Certificates or Notes and Certificates, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the aggregate amount of such distribution allocable (a) Security Interest Collections with respect to principal of each class of the NotesNotes and the Certificates, (b) aggregate Security Principal Collections with respect to the Notes and the Certificates and (c) Security Collections for the related Collection Period with respect to the Notes and the Certificates; (ii) the amount of such distribution to the distribution, if any, allocable Securityholders of the Notes and the Certificates applied to interest reduce the principal balance thereof and separately stating the portion thereof in respect of the Accelerated Principal Distribution Amount and the amount to be deposited in the Funding Account on or with respect to each class of Notessuch Payment Date; (iii) [Reserved]the amount of such distribution to the Securityholders of the Notes and the Certificates allocable to interest and separately stating the portion thereof in respect of overdue accrued interest; (iv) the Aggregate Receivables Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (v) the aggregate Principal Balance of (a) the ________ Loans, (b) the ______ Loans, (c) the _________ Loans, as of the end of the preceding Collection Period and (d) all of the Mortgage Loans; (vi) the Weighted Average Net Mortgage Rate for the related Collection Period and the Weighted Average Net Mortgage Rate for the aggregate of the Stated Principal Balance of (A) all of the Mortgage Loans and (B) the Adjustable Rate Mortgage Loans, for the following Collection Period; (vii) the Special Capital Distribution Amount and the Required Special Capital Distribution Amount, in each case as the end of the related Collection Period; and (viii) the aggregate amount of Additional Loans acquired during the previous Collection Period with amounts in respect of Net Principal Collections from the Funding Account; (ix) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount of any remaining Carryover Loss Amount with respect to the Notes and Certificates, respectively, and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as a percentage of the sum of (a) the Cut-Off Date Pool Balance and (b) the amount by which the Pool Balance as of the close of business latest date that the Additional Loans have been transferred to the Depositor exceeds the Cut-Off Date Pool Balance; (x) any unpaid interest on the last day of Notes and Certificates, respectively, after such Monthly Period, Distribution Date; (xi) the Aggregate Receivables aggregate Principal Balance of each Class of Notes and of the Certificates after giving effect to the distribution of principal on such Payment Date; (xii) the respective Security Percentage applicable to the Notes and Certificates, after application of payments made on such Payment Date; (xiii) the amount distributed pursuant to Section 3.05(a)(xi) of the Indenture on such Payment Date; (xiv) the applicable record dates, accrual periods, determination dates for calculating distributions and general distribution dates; (xv) the total cash flows received and the general sources thereof; (xvi) the related amount of the Servicing Fees paid to or retained by the Master Servicer for the related Due Period; (xvii) the amount of any Net Swap Payment payable to the Derivative Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Derivative Administrator and any Swap Termination Payment payable to the Swap Provider; (xviii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates; (xix) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date; (xx) the number and Stated Principal Balance of the Mortgage Loans in each Loan Group in respect of which (A) one Scheduled Payment is Delinquent, (B) two Scheduled Payments are Delinquent, (C) three or more Scheduled Payments are Delinquent and (D) foreclosure proceedings have been commenced, in each case as of the close of business on the last day of the second Monthly Period calendar month preceding such Distribution Date (or, and separately identifying such information for the (1) first Distribution Datelien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group; provided, however, that such information will not be provided on the Initial Aggregate Receivables Principal Balance) and statements relating to the Principal Distributable Amount for such Distribution first Payment Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vixxi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit Advances included in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein including the general purpose of such Advances), the aggregate amount of unreimbursed Advances at the close of business on such the Distribution Date), and the general source of funds for reimbursements; (xivxxii) [Reserved]the cumulative amount of Applied Realized Loss Amounts to date; (xvxxiii) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Periodif applicable, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or Mortgage Loan terms, fees, penalties or payments on, pool assets during the distribution period preceding calendar month or that, cumulatively, that have become material over time; (xxxxiv) with respect to any Mortgage Loan that was liquidated during the outstanding notional amount preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the Certificates to close of business on the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in Determination Date preceding such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale AgreementDistribution Date; (xxv) the total number and principal balance of any voting instructions and procedures pursuant to Section 5.17(b) real estate owned or REO Properties as of the Indentureclose of business on the Determination Date preceding such Distribution Date; (xxvi) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information with respect to any change in for the Asset Representations Reviewer as required by Item 1121(d)(2(1) of Regulation ABfirst lien Mortgage Loans, and (2) Adjustable Rate Mortgage Loans; (xxvii) any asset level information as required by the Realized Losses during the related Prepayment Period and the cumulative Realized Losses through the end of the preceding month; (xxviii) whether a Trigger Event exists; (xxix) updated pool composition data including the following with respect to each Loan Group: average loan balance, weighted average mortgage rate, weighted average loan-to-value ratio at origination, weighted average FICO at origination weighted average remaining term; and [NOTE - Item 1111(h1121(a)(8) and Item 1125 requires updated pool composition information, the foregoing is a suggestion of Regulation ABwhat to provide]; and (xxviiixxx) the nature and amount information about any additions of, substitutions for or removal of any material change Mortgage Loans from the Trust Fund, and any changes in the Seller’s underwriting, acquisition or an Affiliate’s interest in selection criteria as to any Mortgage Loans added to the Notes or Certificates from Trust Fund. In the purchase, sale or other disposition case of such Notes or Certificates. Each amount set forth information furnished pursuant to clauses (i), (ii), (vi), (xi), (xii), ) and (xiiiiii) above above, the amounts shall be expressed as a an aggregate dollar amount per Note or Certificate with a $1,000 denomination. Prior to the close of initial principal amount of business on the Notes. (b) Within Business Day next succeeding each Determination Date, the prescribed period of time for tax reporting purposes after Servicer shall furnish a written statement to the end of each calendar year during Depositor, the term of this AgreementOwner Trustee, the Depositor, the Certificate Paying Agent and the Indenture Trustee setting forth (i) all the foregoing information, (ii) the aggregate amounts required to be withdrawn from the Collection Account and deposited into the Payment Account on the Business Day preceding the Payment Date pursuant to Section 3.03 and (iii) the amounts (A) withdrawn from the Payment Account and deposited to the Funding Account pursuant to Section 8.02(b) of the Indenture and (B) withdrawn from the Funding Account and deposited to the Collection Account pursuant to Section 8.02(c)(i) of the Indenture. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Indenture Trustee shall mailbe protected in relying upon the same without any independent check or verification. In addition, to each Person who at any time during such calendar year upon the Depositor's written request, the Servicer shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such promptly furnish information as may be required reasonably requested by the Code and applicable Treasury Regulations Depositor that is reasonably available to the Servicer to enable such securityholder the Depositor to prepare perform its federal and state income tax returnsreporting obligations.

Appears in 1 contract

Samples: Servicing Agreement (Opteum Mortgage Acceptance CORP)

Statements to Securityholders. (a) On With respect to each Distribution Payment Date, on the Owner Business Day following the related Determination Date the Master Servicer shall forward to the Indenture Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall (except as otherwise provided in the Trust Agreement) deliver forward or cause to be forwarded by mail to each Certificateholder, Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and the Indenture Trustee shall include with each distribution to each NoteholderRating Agency, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set setting forth the following information concerning as to the Certificates or Notes and Certificates, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the aggregate amount of such distribution allocable to principal of each class of the Notes(a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment Amounts; (ii) the amount of such distribution as principal to the distribution, if any, allocable to interest on or with respect to each class of NotesNoteholders; (iii) [Reserved]the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) the Aggregate Receivables amount of any Credit Enhancement Draw Amount; (v) the amount of such distribution as principal and interest to the Certificateholders of the Certificates, separately stating the portion thereof which resulted in a reduction of the Certificate Principal Balance thereof; (vi) the aggregate Loan Balance of the Revolving Credit Loans as of the end of the preceding Collection Period; (vii) the number and aggregate Loan Balances of Revolving Credit Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (b) that are foreclosed and (c) that have become REO, in each case as of the end of the preceding Collection Period; provided, however, that such information will not be provided on the statements relating to the first Payment Date; (viii) the weighted average Net Loan Rate for the related Collection Period; (ix) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount of any Liquidation Loss Distribution Amounts with respect to the Notes, and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollars and as a percentage of the aggregate Cut-off Date Loan Balance; (x) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; [NY01B:316703.2] 16069-00394 03/27/97 10:57am 19 (xi) the aggregate Special Hazard Losses, Fraud Losses, Bankruptcy Losses and losses caused by or resulting from an Extraordinary Event with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xii) the Note Balance of each Class of Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiii) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; and (xiv) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount, the Bankruptcy Loss Amount and the Reserve Amount Target immediately following such Payment Date. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Variable Funding Note, Term Note or Certificate, as applicable, with a $1,000 denomination. In addition the Master Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Business Day next succeeding each Determination Date, the Initial Aggregate Receivables Principal Balance) Master Servicer shall furnish a written statement to the Certificate Paying Agent and the Principal Distributable Amount for such Distribution Date; (v) Indenture Trustee setting forth the Note Principal Balance for each class of Notes aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Aggregate Note Principal Balance, and Payment Account on the Note Pool Factor for each class of Notes, each as of such Distribution Business Day preceding the related Payment Date after giving effect pursuant to all payments described under clause (i) above; (vi) Section 3.03. The determination by the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each Master Servicer of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trusteeshall, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amountabsence of obvious error, if any, of excess cash distributed from the Reserve Account be presumptively deemed to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account be correct for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting all purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee hereunder and the Owner Trustee and Indenture Trustee shall mailbe protected in relying upon the same without any independent check or verification. In addition, to each Person who at any time during such calendar year upon the Issuer's written request, the Master Servicer shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such promptly furnish information as may be required reasonably requested by the Code and applicable Treasury Regulations Issuer that is reasonably available to the Master Servicer to enable such securityholder the Issuer to prepare perform its federal and state income tax returnsreporting obligations.

Appears in 1 contract

Samples: Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)

Statements to Securityholders. (a) On With respect to each Distribution Payment Date, on the Owner Business Day following the related Determination Date (or with respect to any Payment Date for which an Insured Payment will occur, no later than 12:00 P.M. New York City time, on the second Business Day prior to the applicable Payment Date), the Master Servicer shall forward to the Indenture Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall (except as forward or cause to be forwarded by mail or otherwise provided in the Trust Agreement) deliver make available electronically at xxx.xxxxxx.xxx/xxx to each Certificateholder, Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and the Indenture Trustee shall include with each distribution to each NoteholderRating Agency, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set setting forth the following information concerning (the Certificates or "Servicing Certificate") as to the NotesNotes and Certificates, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the amount of such distribution allocable to principal of each class of the Notesapplicable Record Date, Determination Date and Payment Date; (ii) the aggregate amount of the distribution, if any, allocable to interest on or payments received with respect to each class of Notesthe Home Loans, including prepayment amounts; (iii) [Reserved]the Servicing Fee and Subservicing Fee payable to the Master Servicer and the Subservicer; (iv) the Aggregate Receivables Principal Balance as amount of any other fees or expenses paid, and the identity of the close of business on the last day of party receiving such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Datefees or expenses; (v) the Note aggregate amount of (a) Interest Collections, (b) Principal Balance Collections and (c) Substitution Adjustment Amounts for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) aboveCollection Period; (via) the amount of such distribution to the Securityholders of such Class A Interest Carryover Shortfall, applied to reduce the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if anyNote Balance or Certificate Principal Balance thereof, and (b) the change in each of such amounts from the preceding Distribution Dateaggregate amount included therein representing Principal Prepayments; (vii) the amount of such distribution to Holders of such Class of Securities allocable to the Certificateholdersinterest; (viii) any amounts paid if the distribution to the Indenture TrusteeHolders of such Class of Securities is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the Owner Trustee, amount of the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)shortfall; (ix) the amount aggregate Note Balance or Certificate Principal Balance of the Basic Servicing Fee paid each Class of Securities, before and after giving effect to the Servicer with respect amounts distributed on such Payment Date, separately identifying any reduction thereof due to the related Monthly PeriodLiquidation Loss Amounts other than pursuant to an actual distribution of principal; (x) the amountNote Rate for each Class of Notes for such Payment Date, separately identifying LIBOR for such Payment Date, if any, and purpose of any other fees or expenses accrued or paid;applicable. (xi) the amount, if any, weighted average remaining term to maturity of the Home Loans after giving effect to the amounts distributed to Noteholders from amounts on deposit in the Reserve Accountsuch Payment Date; (xii) the amount, if any, weighted average Loan Rates of excess cash distributed from the Reserve Account Home Loans after giving effect to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to amounts distributed on such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)Payment Date; (xiii) the balance percentage of the Reserve Account on such Distribution Date (outstanding principal balances of the Notes after giving effect to changes therein the distributions on such Distribution that Payment Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount Pool Balance of Receivables the Home Loans after giving effect to the distribution of principal on such Payment Date and the number of Home Loans at the beginning and end of the applicable preceding Collection Period; (xv) on the basis of the most recent reports furnished to it by Sub-Servicers, the number and aggregate Loan Balances of Home Loans (a) as to which the Monthly PeriodPayment is Delinquent 30-59 days, 60-89 days and updated pool composition information 90 or more days, respectively, (b) that are foreclosed, (c) that have become REO and (d) that have been finally liquidated due to being 180 days or more delinquent, in each case as of the end of the Monthly related Collection Period; provided, however, that such information will not be provided on the statements relating to the first Payment Date; (xvi) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, such as weighted average coupon, weighted average life, weighted average remaining termthe amount of any Liquidation Loss Payment Amounts with respect to the Notes, and prepaymentsthe aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollars and as a percentage of the aggregate Cut-off Date Loan Balance; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets the Home Loans during the distribution period Collection Period or that, cumulatively, that have cumulatively become material over time; (xviii) any material breaches of Home Loan representations or warranties or covenants in the Home Loan Purchase Agreement. (xix) The amount of any Insured Payment, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (xx) the outstanding notional amount number, aggregate principal balance and book value of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliatesany REO properties; (xxi) whether a Delinquency Trigger has been met or exceededthe aggregate accrued interest remaining unpaid, if any, for each Class of Securities, after giving effect to the distribution made on such Payment Date; (xxiia) the name number and contact information principal amount of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights release agreements pursuant to Section 3.05(b)(iv) entered into during the Basic Documentscalendar year and since the Closing Date, stated separately, for the Home Loans and, the aggregate outstanding principal amount of such release agreements expressed as a percentage of the Pool Balance with information provided separately with respect to all Unsecured Loans and (b) the number and principal amount of Capitalization Workouts pursuant to Section 3.02(a)(v) entered into since the Closing Date; (xxiii) a summary the aggregate amount recovered during the related Collection Period consisting of the findings and conclusions of all subsequent recoveries on any Asset Representations Review conducted by the Asset Representations ReviewerHome Loan that was 180 days or more delinquent; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement[reserved]; (xxv) the aggregate amount of any voting instructions and procedures pursuant recoveries on previously foreclosed loans from Sellers due to Section 5.17(b) a breach of a representation or warranty assigned to the IndentureTrustee; (xxvi) information with respect the amount, if any, to any change in the Asset Representations Reviewer as required be paid by Item 1121(d)(2) of Regulation ABa Derivative Counterparty under a Derivative Contract; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation ABwhether or not a Servicing Trigger has occurred; and (xxviii) the nature Outstanding Reserve Amount and amount the Reserve Amount Target immediately following such Payment Date. In the case of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth information furnished pursuant to clauses (i), (ii), (vi), (xi), (xii), ) and (xiiivii) above above, the amounts shall be expressed as a an aggregate dollar amount per Note or Certificate, as applicable, with a $1,000 of initial principal amount of the Notesdenomination. (b) Within In addition, with respect to each Payment Date, on the prescribed period of time Business Day following the related Determination Date, the Master Servicer shall forward to the Credit Enhancer and the Rating Agencies the following information for tax reporting purposes each Capitalization Workout entered into during the related Collection Period: (i) the original Home Loan amount; (ii) the Home Loan amount after the end Capitalization Workout; (iii) the original Monthly Payment amount; (iv) the Monthly Payment amount after the Capitalization Workout; (v) the Capitalized Amount as defined in Section 3.02(a)(v) herein; (vi) the Combined Loan-to-Value Ratio prior to the Capitalization Workout; (vii) the Combined Loan-to-Value Ratio after the Capitalization Workout; and (viii) if an appraisal was used in determining the Combined Loan-to-Value Ratio referred to in (vii) above, the type and date of each calendar year during the term of this Agreement, appraisal. The Master Servicer shall also forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Master Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Payment Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Master Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Indenture Trustee shall mailbe protected in relying upon the same without any independent check or verification. In addition, to each Person who at any time during such calendar year upon the Issuer's written request, the Master Servicer shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such promptly furnish information as may be required reasonably requested by the Code and applicable Treasury Regulations Issuer that is reasonably available to the Master Servicer to enable such securityholder the Issuer to prepare perform its federal and state income tax returnsreporting obligations. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Appears in 1 contract

Samples: Servicing Agreement (Home Loan Trust 2006-Hi5)

Statements to Securityholders. (a) On With respect to each Distribution Payment Date, on the Business Day following the related Determination Date, the Owner Servicer shall forward the Servicing Certificate to the Indenture Trustee and the Paying Agent, and the Paying Agent, pursuant to Section 3.26 of the Indenture, shall (except as otherwise provided in the Trust Agreement) deliver on such Payment Date make such Servicing Certificate available to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent, the Paying Agent and each Rating Agency, with a statement (which statement shall also be provided by the Servicer copy to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09Enhancer. Each such statement to be delivered to Certificateholders and Noteholders, respectively, The Servicing Certificate shall comply with Regulation AB and set forth the following information concerning as to the Certificates or Notes and Certificates, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) the amount of such distribution allocable to principal of each class of the Notesapplicable Record Date, Determination Date and Payment Date; (ii) the aggregate amount of the distribution, if any, allocable to interest on or payments received with respect to each class of Notesthe Mortgage Loans, including prepayment amounts; (iii) [Reserved]the Servicing Fee and Subservicing Fee payable to the Servicer and the Subservicer; (iv) the Aggregate Receivables amount of any other fees or expenses paid, and the identity of the party receiving such fees or expenses; (v) the aggregate amount of (a) Interest Collections, (b) Principal Collections (and, with respect to any Payment Date relating to the Managed Amortization Period, Net Principal Collections) and (c) Substitution Adjustment Amounts for such Collection Period; (vi) the amount of such distribution as principal to the Noteholders; (vii) the amount of such distribution as interest to the Noteholders, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Payment Date; (viii) each Deficiency Amount, if any, for such Payment Date and the aggregate amount of prior draws on the Policy thereunder not yet reimbursed; (ix) the amount, if any, received under the Yield Maintenance Agreement; (x) the amount of such distribution to the Certificateholders; (xi) the amount of any Additional Balance Increase Amount payable to the Certificateholders and the amount of Principal Collections paid in respect of such Additional Balance Increase Amount; (xii) the aggregate Principal Balance of the Mortgage Loans as of the close end of business the preceding Collection Period; (xiii) the number and aggregate Principal Balances of Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days, 150-179 days and 180 or more days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each case as of the end of the preceding Collection Period; provided, however, that such information shall not be provided on the last day statements relating to the first Payment Date; (xiv) LIBOR for the related Interest Period; (xv) the Note Rate for the Notes for such Payment Date; (xvi) the Net WAC Rate for the related Collection Period; (xvii) prior to the second Determination Date following the commencement of such Monthly the Rapid Amortization Period, the Aggregate Receivables aggregate amount of Additional Balances created during the previous Collection Period and conveyed to the Issuer prior to the commencement of the Rapid Amortization Period; (xviii) the aggregate Liquidation Loss Amounts (other than amounts allocated in respect of the Excluded Amount) with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of Liquidation Loss Amounts and the aggregate of the Liquidation Loss Amounts (minus any Subsequent Recovery Amounts and other than amounts allocated in respect of the Excluded Amount) from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (xix) the Note Balance of the Notes and the Certificate Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xx) the balance of the Funding Account as of the end of the preceding Collection Period; (xxi) the Percentage Interest applicable to each of the Securities, after application of payments made on such Payment Date; (xxii) the Overcollateralization Amount as of the end of the preceding Collection Period; (xxiii) the aggregate Principal Balance of Subsequent Mortgage Loans transferred to the Trust Estate since the Closing Date; (xxiv) reserved; (xxv) reserved; (xxvi) on or after the Stepdown Date, a statement (yes or no) as to whether each of the Stepdown Delinquency Test and the Stepdown Cumulative Loss Test have been met as of the related Payment Date; (xxvii) the aggregate outstanding Principal Balance of the three largest Mortgage Loans as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the amount of such distribution allocable to the Certificateholders; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c); (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Collection Period; (xxxviii) the amount, if any, and purpose of any other fees or expenses accrued or paidOvercollateralization Target Amount; (xixxix) the amount, if any, distributed number of Mortgage Loans that are the subject of a Promotional Rate and the aggregate amount of Promotional Advances with respect to Noteholders from amounts on deposit in the Reserve Accountsuch Mortgage Loan; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis); (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved]; (xv) cash flows received during the related Monthly Period and their sources; (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred; (xixxxx) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets the Mortgage Loans during the distribution period Collection Period or that, cumulatively, that have cumulatively become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviiixxxi) the nature and amount of any material change breaches of Mortgage Loan representations, warranties or covenants in the Seller’s or an Affiliate’s interest in Purchase Agreement. In the Notes or Certificates from the purchase, sale or other disposition case of such Notes or Certificates. Each amount set forth information furnished pursuant to clauses (i), (ii), (vi), (xi), (xii), ) and (xiiiiii) above above, the amounts shall be expressed as a an aggregate dollar amount per Note or Certificate, as applicable, with a $1,000 ______ denomination and per Certificate with a denomination equal to a 100% Percentage Interest. If a Managed Amortization Event, a Rapid Amortization Event or a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee and the Paying Agent, a statement to such effect, including the nature of initial principal amount such Rapid Amortization Event or Servicing Default. The Paying Agent shall deliver or cause to be delivered by mail to each Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, notice of such Managed Amortization Event, Rapid Amortization Event or Servicing Default, including, in the Notescase of a Rapid Amortization Event or a Servicing Default, the nature thereof. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Paying Agent shall make the Servicing Certificate (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders and the Enhancer, and other parties to this Agreement via the Paying Agent's internet website. The Paying Agent's internet website shall initially be located at "[_________]". Assistance in using the website can be obtained by calling the Paying Agent's customer service desk at [(___) ___-____]. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Paying Agent shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Paying Agent shall provide timely and adequate notification to all above parties regarding any such changes. The Paying Agent may require registration and the acceptance of a disclaimer in connection with access to its website. (b) Within The Servicer shall forward to the prescribed period Paying Agent any other information reasonably requested by the Paying Agent necessary to make distributions pursuant to Section 3.05 of time for tax reporting purposes after the end Indenture. Prior to the close of business on the Business Day next succeeding each calendar year during Determination Date, the term of this AgreementServicer shall furnish a written statement to the Certificate Paying Agent, the Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Note Payment Account, Funding Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.04. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee, the Paying Agent and the Indenture Trustee shall mailbe protected in relying upon the same without any independent check or verification. In addition, to each Person who at any time during such calendar year upon the Issuer's written request, the Servicer shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing promptly furnish such information as may be required reasonably requested by the Code and applicable Treasury Regulations Issuer that is reasonably available to the Servicer to enable such securityholder the Issuer to prepare perform its federal and state income tax returnsreporting obligations.

Appears in 1 contract

Samples: Servicing Agreement (Wachovia Asset Funding Trust, LLC)

Statements to Securityholders. (a) On With respect to each Distribution Payment Date, on the Business Day following the related Determination Date, the Owner Master Servicer shall forward to the Indenture Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall (except as otherwise provided in the Trust Agreement) deliver forward or cause to be forwarded by mail or made available on its website initially located at "xxx.xxxxxxxx.xxx/xxx," to each Certificateholder, Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and the Indenture Trustee shall include with each distribution to each NoteholderRating Agency, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set setting forth the following information concerning (the Certificates or "Servicing Certificate") as to the NotesNotes and Certificates, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) for each of Loan Group I and Loan Group II, the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment Amounts for such distribution allocable to principal of each class of the NotesCollection Period; (ii) the amount paid as principal to the Noteholders of the distribution, if any, allocable to interest on or with respect to each class Class of Notes; (iii) [Reserved]for each of Loan Group I and Loan Group II, the amount paid as interest to the Noteholders of each Class of Notes, separately stating the portion thereof in respect of Prepayment Interest Shortfalls, Relief Act Shortfalls, Group I Net WAC Cap Shortfalls or Group II Net WAC Cap Shortfalls, if any; (iv) the Aggregate Receivables Principal Balance as for each of the close of business on the last day of such Monthly PeriodLoan Group I and Loan Group II, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such aggregate Interest Distribution Date (orAmount remaining unpaid, if any, for each Class of Class I Notes and Class II Notes, after giving effect to the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for payments made on such Distribution Payment Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above[Reserved]; (vi) the amount of any draw on the Class A Interest Carryover ShortfallGroup I Policy or the Group II Policy for such Payment Date, the Class B Interest Carryover Shortfall, amount paid to the Class C Interest Carryover Shortfall Credit Enhancer in reimbursement for prior draws and the Class D Interest Carryover Shortfall, if any, and aggregate amount of prior draws under the change in each of such amounts from the preceding Distribution DatePolicies not yet reimbursed; (vii) for each of Loan Group I and Loan Group II, the amount of such distribution allocable as principal and interest to the CertificateholdersCertificateholders of the Certificates, separately stating the portion thereof which resulted in a reduction of the Certificate Loan Balance thereof; (viii) any amounts paid to the Indenture Trustee, aggregate Loan Balance of the Owner Trustee, Home Equity Loans in each Loan Group as of the Asset Representations Reviewer or end of the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)preceding Collection Period; (ix) the aggregate amount of Additional Balances on the Basic Servicing Fee paid Group II Loans created during the previous Collection Period conveyed to the Servicer with respect to the related Monthly PeriodIssuer; (x) for each of Loan Group I and Loan Group II, the amountnumber and aggregate Loan Balances of Home Equity Loans (a) as to which the Minimum Monthly Payment is Delinquent for 30-59 days, if any60-89 days and 90 or more days, respectively, (b) that are foreclosed and purpose (c) that have become REO, in each case as of any other fees or expenses accrued or paidthe end of the related Collection Period; provided, however, that such information will not be provided on the statements relating to the first Payment Date; (xi) the amountNote Rate for each Class of Class I Notes and Class II Notes, if any, distributed to Noteholders from amounts on deposit in the Reserve AccountGroup I Net WAC Rate and the Group II Net WAC Rate for the related Collection Period; (xii) for each of Loan Group I and Loan Group II, the amount, if any, of excess cash distributed from the Reserve Account aggregate Liquidation Loss Amounts with respect to the Certificateholders (or if related Collection Period, the Certificate amount of any Liquidation Loss Distribution Account has been established pursuant Amounts with respect to Section 5.1 the Notes, and the aggregate of the Trust Agreement, then Liquidation Loss Amounts from all Collection Periods to date expressed as dollars and as a percentage of the aggregate Cut-off Date Loan Balance for such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis)Loan Group; (xiii) the balance aggregate Excess Loss Amounts with respect to the Group I Loans and the Group II Loans with respect to the related Collection Period and the aggregate of the Reserve Account on such Distribution Date (after giving effect Excess Loss Amounts with respect to changes therein on such Distribution Date)the Group I Loans and the Group II Loans from all Collection Periods to date; (xiv) [Reserved]for each Loan Group, the aggregate Bankruptcy Losses and losses caused by or resulting from an Extraordinary Event with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xv) cash flows received during for each of Loan Group I and Loan Group II, the Security Balance of each related Class of Notes and the Certificate Principal Balance of the related Monthly Period and their sourcesCertificates after giving effect to the distribution of principal on such Payment Date; (xvi) the number aggregate Servicing Fees for the related Collection Period and dollar the aggregate amount of Receivables at Draws for the beginning and end of the applicable Monthly related Collection Period, and updated pool composition information as of the end of the Monthly Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency the number and loss information for amount of any increases in the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accountsCredit Limits of the Home Equity Loans during the related Collection Period; (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;Group I Overcollateralization Amount, the Group II Overcollateralization Amount, the Undercollateralization Amount, the Group I Required Overcollateralization Amount immediately following such Payment Date and the Group II Required Overcollateralization Amount immediately following such Payment Date; and (xix) any material modifications, extensions or waivers relating the number and principal amount of release agreements pursuant to the terms of or fees, penalties or payments on, pool assets Section 3.05(c) entered into during the distribution period or thatcalendar year and since the Closing Date, cumulativelystated separately, have become material over time; for the Group II Loans and, the aggregate outstanding principal amount of such release agreements expressed as a percentage of the Pool Balance for Loan Group II with information provided separately with respect to all Unsecured Loans and (xx2) the number and principal amount of Capitalization Workouts pursuant to Section 3.02(a)(v) entered into during the calendar year and since the Closing Date, stated separately for each of Loan Group I and Loan Group II and the aggregate outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether Capitalization Workouts expressed as a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary percentage of the findings and conclusions respective Pool Balance. In the case of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth furnished pursuant to clauses (i), (ii), (vi), (xi), (xii), ) and (xiiiiii) above above, the amounts shall be expressed as a an aggregate dollar amount per Variable Funding Note, Term Note or Certificate, as applicable, with a $1,000 denomination. If an Amortization Event or Servicing Default shall occur, on the Business Day following the related Determination Date, the Master Servicer shall forward to the Indenture Trustee, a statement of initial principal amount such effect, including the nature of such Amortization Event or Servicing Default. The Indenture Trustee shall deliver or cause to be delivered by mail to the Credit Enhancer notice of such Amortization Event or Servicing Default, including, the nature thereof. Such statement may be included in, or separate from, the regular statement to Securityholders. In addition, the Master Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the NotesIndenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Master Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Payment Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Master Servicer of such amounts shall be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Master Servicer shall promptly furnish information reasonably requested by the Issuer that is reasonably available to the Master Servicer to enable the Issuer to perform its federal and state income tax reporting obligations. (b) Within The Master Servicer shall, on behalf of the prescribed period Depositor and in respect of time for tax reporting purposes after the Trust, sign and cause to be filed with the Commission any periodic reports required to be filed under the provisions of the Exchange Act, and the rules and regulations of the Commission thereunder. In connection with the preparation and filing of such periodic reports, the Indenture Trustee shall timely provide to the Master Servicer (I) a list of Holders as shown on the Certificate Register and the Note Register as of the end of each calendar year during year, (II) copies of all pleadings, other legal process and any other documents relating to any claims, charges and complaints involving the term Indenture Trustee, as indenture trustee hereunder, or the Trust that are received by the Indenture Trustee, (III) notice of all matters that, to the actual knowledge of a Responsible Officer of the Indenture Trustee, have been submitted to a vote of the Holders, other than those matters that have been submitted to a vote of the Holders at the request of the Depositor or the Master Servicer, and (IV) notice of any failure of the Indenture Trustee to make any distribution to the Holders as required pursuant to this Agreement. Neither the Master Servicer nor the Indenture Trustee shall have any liability with respect to the Master Servicer's failure to properly prepare or file such periodic reports resulting from or relating to the Master Servicer's inability or failure to obtain any information not resulting from the Master Servicer's own negligence or willful misconduct. Any Form 10-K filed with the Commission in connection with this clause (b) shall include a certification, signed by the senior officer in charge of the servicing functions of the Master Servicer, in the form attached as Exhibit E hereto or such other form as may be required or permitted by the Commission (the "Form 10-K Certification"), in compliance with Rules 13a-14 and 15d-14 under the Exchange Act and any additional directives of the Commission. In connection with the Form 10-K Certification, the Indenture Trustee and shall provide the Owner Trustee shall mailMaster Servicer with a back-up certification substantially in the form attached hereto as Exhibit F. This Section 4.01(b) may be amended in accordance with this Agreement, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectivelybut without the Rating Agency confirmations otherwise required by Section 8.01, and received any payments thereon, a statement containing such information as may be required by without the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returnsconsent of the Holders.

Appears in 1 contract

Samples: Servicing Agreement (Home Equity Loan Trust 2005-Hs2)

Statements to Securityholders. (a) On With respect to each Distribution Payment Date, on the Business Day following the related Determination Date, the Owner Servicer shall forward the Servicing Certificate to the Indenture Trustee and the Paying Agent, and the Paying Agent, pursuant to Section 3.26 of the Indenture, shall (except as otherwise provided in the Trust Agreement) deliver on such Payment Date make such Servicing Certificate available to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent, the Paying Agent and each Rating Agency, with a statement (which statement shall also be provided by the Servicer copy to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 2.09Enhancer. Each such statement to be delivered to Certificateholders and Noteholders, respectively, The Servicing Certificate shall comply with Regulation AB and set forth the following information concerning as to the Certificates or Notes and Certificates, to the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Periodextent applicable: (i) for each Loan Group, the aggregate amount of (a) Interest Collections, (b) Principal Collections (and, with respect to any Payment Date relating to the Managed Amortization Period, Net Principal Collections) and (c) Substitution Adjustment Amounts for such distribution allocable to principal of each class of the NotesCollection Period; (ii) the amount of such distribution as principal to the distribution, if any, allocable to interest on or with respect to each class of NotesNoteholders; (iii) [Reserved]the amount of such distribution as interest to the Noteholders, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Payment Date; (iv) each Deficiency Amount, if any, for such Payment Date and the Aggregate Receivables Principal Balance as aggregate amount of the close of business prior draws on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution DatePolicy thereunder not yet reimbursed; (v) for the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of [_____] Notes, each as of such Distribution Date after giving effect to all payments described the amount, if any, received under clause (i) abovethe related Yield Maintenance Agreement; (vi) the amount of such distribution to the Class A Interest Carryover Shortfall, the Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall and the Class D Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution DateCertificateholders; (vii) the amount of such distribution allocable any related Additional Balance Increase Amount payable to the CertificateholdersCertificateholders and the amount of Principal Collections paid in respect of such related Additional Balance Increase Amount; (viii) any amounts paid with respect to the Indenture Trusteeeach Loan Group, the Owner Trustee, aggregate Principal Balance of the Asset Representations Reviewer or Mortgage Loans as of the Administrator incurred pursuant to end of the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)preceding Collection Period; (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to each Loan Group, the number and aggregate Principal Balances of Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days, 150-179 days and 180 or more days, respectively, (b) the related Monthly Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each case as of the end of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the first Payment Date; (x) LIBOR for each of the amount, if any, and purpose of any other fees or expenses accrued or paid[_____] Notes for the related Interest Period; (xi) the amount, if any, distributed to Noteholders from amounts on deposit in Note Rate for each of the Reserve Account[_____] Notes for such Payment Date; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 Net WAC Rate for each of the Trust Agreement, then to such Certificate Distribution Account [_____] Notes for distribution to the Certificateholders on a pro rata basis)related Collection Period; (xiii) prior to the balance second Determination Date following the commencement of the Reserve Account on such Distribution Date (after giving effect Rapid Amortization Period, the aggregate amount of Additional Balances created during the previous Collection Period and conveyed to changes therein on such Distribution Date)the Issuer prior to the commencement of the Rapid Amortization Period; (xiv) [Reserved]the aggregate Liquidation Loss Amounts for each Loan Group (other than amounts allocated in respect of the Excluded Amount) with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of Liquidation Loss Amounts and the aggregate of the Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts and other than amounts allocated in respect of the Excluded Amount) from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (xv) cash flows received during the related Monthly Period Note Balance of the Notes and their sourcesthe Certificate Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xvi) with respect to each Loan Group, the number and dollar amount of Receivables at the beginning and end balance of the applicable Monthly Period, and updated pool composition information related Funding Account as of the end of the Monthly preceding Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments; (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquenciesPercentage Interest applicable to each of the Securities, charge-offs and uncollectible accountsafter application of payments made on such Payment Date; (xviii) the amount of receivables with respect to which material breaches each Loan Group, the related Overcollateralization Amount as of pool asset representations or warranties or transaction covenants have occurred; (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), (ii), (vi), (xi), (xii), and (xiii) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.preceding Collection Period;

Appears in 1 contract

Samples: Servicing Agreement (Wachovia Asset Securitization Inc)

Statements to Securityholders. (a) On each Distribution Date, the Owner Trustee shall (except as otherwise provided in the Trust Agreement) deliver to each Certificateholder, and the Indenture Trustee shall include with each distribution to each Noteholder, a statement (which statement shall also be provided by the Servicer to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s 's Accounting furnished pursuant to Section 2.093.10 of the Pooling and Servicing Agreement. Each such statement to be delivered to Certificateholders and Noteholders, respectively, shall comply with Regulation AB and set forth the following information concerning the Certificates or the Notes, as appropriate, with respect to such Distribution Date or the preceding Monthly Period: (i) the amount of such distribution allocable to principal of each class of the Notes; (ii) the amount of the distribution, if any, allocable to interest on or with respect to each class of Notessecurities; (iii) [Reserved]the net amount, if any, of any payments due under all Interest Rate Swaps (specifying, if applicable, any amounts owing as a result of an Early Termination Date under the Notes); (iv) the Aggregate Receivables Principal Balance as of the close of business on the last day of such Monthly Period, the Aggregate Receivables Principal Balance as of the close of business on the last day of the second Monthly Period monthly period preceding such Distribution Date (or, for the first Distribution Date, the Initial Aggregate Receivables Principal Balance) and the Principal Distributable Amount for such Distribution Date; (v) the Note Principal Balance for each class of Notes and the Aggregate Note Principal Balance, and the Note Pool Factor for each class of Notes, each as of such Distribution Date after giving effect to all payments described under clause (i) above; (vi) the amount of the Class A Notes Interest Carryover Shortfall, the Class B Notes Interest Carryover Shortfall, the Class C Notes Interest Carryover Shortfall Shortfall, and the Class D Notes Interest Carryover Shortfall, if any, and the change in each of such amounts from the preceding Distribution Date; (vii) the aggregate amount of in the Payment Ahead Servicing Account or on deposit with the Servicer as Payments Ahead and the change in such distribution allocable to amount from the Certificateholdersprevious Distribution Date; (viii) any amounts paid to the Indenture Trustee, the Owner Trustee, the Asset Representations Reviewer or the Administrator incurred pursuant to the Indenture, the Trust Agreement, this Servicing Agreement, the Asset Representations Review Agreement or the Administration Agreement, respectively, paid pursuant to Section 4.06(c)amount of Outstanding Monthly Advances on such Distribution Date; (ix) the amount of the Basic Servicing Fee paid to the Servicer with respect to the related Monthly Period; (x) the amount, if any, and purpose of any other fees or expenses accrued or paid;, (xi) the amount, if any, distributed to Noteholders from amounts on deposit in the Reserve Account; (xii) the amount, if any, of excess cash distributed from the Reserve Account to the Certificateholders (or if the Certificate Distribution Account has been established pursuant to Section 5.1 of the Trust Agreement, then to such Certificate Distribution Account for distribution to the Certificateholders on a pro rata basis);Seller, (xiii) the balance of the Reserve Account on such Distribution Date (after giving effect to changes therein on such Distribution Date); (xiv) [Reserved];LIBOR for such Distribution Date and the interest rate on each class of Floating Rate Notes. (xv) cash flows received during the related Monthly Collection Period and their sources;, (xvi) the number and dollar amount of Receivables at the beginning and end of the applicable Monthly Collection Period, and updated pool composition information as of the end of the Monthly Collection Period, such as weighted average coupon, weighted average life, weighted average remaining term, and prepayments;prepayment amounts, (xvii) delinquency and loss information for the period and any material changes in determining or defining delinquencies, charge-offs and uncollectible accounts;, (xviii) the amount of receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred;, and (xix) any material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time; (xx) the outstanding notional amount of the Certificates to the extent the Certificates are held by Persons other than Ally Bank or its Affiliates; (xxi) whether a Delinquency Trigger has been met or exceeded; (xxii) the name and contact information of a Verified Note Owner or a Noteholder that has informed the Indenture Trustee or the Servicer of its desire to communicate with other Noteholders regarding the exercise of rights pursuant to the Basic Documents; (xxiii) a summary of the findings and conclusions of any Asset Representations Review conducted by the Asset Representations Reviewer; (xxiv) the commencement of an Arbitration and instructions for other Noteholders to participate in such Arbitration pursuant to Section 2.04(c)(iv) of the Trust Sale Agreement; (xxv) any voting instructions and procedures pursuant to Section 5.17(b) of the Indenture; (xxvi) information with respect to any change in the Asset Representations Reviewer as required by Item 1121(d)(2) of Regulation AB; (xxvii) any asset level information as required by Item 1111(h) and Item 1125 of Regulation AB; and (xxviii) the nature and amount of any material change in the Seller’s or an Affiliate’s interest in the Notes or Certificates from the purchase, sale or other disposition of such Notes or Certificates. Each amount set forth pursuant to clauses (i), ) through (ii), (vi), (xi), (xii), and (xiiixix) above shall be expressed as a dollar amount per $1,000 of initial principal amount of the Notes. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture Trustee and the Owner Trustee shall mail, to each Person who at any time during such calendar year shall have been a holder of Notes or Certificates, respectively, and received any payments thereon, a statement containing such information as may be required by the Code and applicable Treasury Regulations to enable such securityholder to prepare its federal income tax returns.

Appears in 1 contract

Samples: Trust Sale and Servicing Agreement (Capital Auto Receivables Asset Trust 2006-1)

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