Common use of The Trustee Remittance Report Clause in Contracts

The Trustee Remittance Report. (a) On each Trustee Reporting Date by noon New York time, the Trustee shall furnish a report (the “Trustee Remittance Report”) in the form attached as Exhibit M to this Agreement, to the Guarantor by electronic medium as agreed to by the Trustee and the Guarantor. (b) Subject to Section 4.04(d), if in any month the Trustee fails to deliver the Trustee Remittance Report by noon New York time on the related Trustee Reporting Date, the Guarantor shall use its best efforts to determine the amount of any required distributions. (c) Subject to Section 4.04(d), if in any month the Trustee fails to provide the Guarantor the Trustee Remittance Report on or prior to the Trustee Reporting Date due to the negligence or willful misconduct of the Trustee, the Trustee shall pay the Guarantor the following amounts: (i) upon the first such failure, $1,000; (ii) upon the second such failure, $2,000; and (iii) upon the third such failure and any such failures thereafter, $3,000. (d) The Trustee shall have no responsibility or liability (including removal as Trustee) under paragraphs (b) and (c) of this Section 4.04 if the Trustee’s failure to timely deliver the Trustee Remittance Report is due to the failure of the Servicer to furnish the Trustee with a report in accordance with Section 5.05. If the Trustee’s failure to timely deliver the Trustee Remittance Report is due to the failure of the Servicer to furnish the Trustee with a report in accordance with the Servicing Agreement, the Servicer will pay to the Guarantor the amount set forth in Section 4.04(c) (i.e., the product of the amounts described in clauses (i), (ii) and (iii) of Section 4.04(c)) pursuant to the Servicing Agreement.

The Trustee Remittance Report. (a) On each Trustee Reporting Date by noon New York time, the Trustee shall furnish a report (the “"Trustee Remittance Report”") in the form attached as Exhibit M N to this Agreement, Agreement (together with a statement containing the information that is required to be included in the statement to be prepared by the Trustee pursuant to Section 4.03) to the Guarantor and the NIMS Insurer by electronic medium as agreed to by the Trustee Trustee, the Guarantor and the GuarantorNIMS Insurer. (b) Subject to Section 4.04(d)paragraph (d) below, if in any month the Trustee fails to deliver the Trustee Remittance Report by noon New York time on the related Trustee Reporting Date, the Guarantor shall use its best efforts to determine the amount of any required distributionsGuarantor Payment. If on any Distribution Date the Guarantor makes any Guarantor Payment as a result of such failure of the Trustee to deliver the Trustee Remittance Report, the Trustee shall pay the Guarantor from its own funds (not from the proceeds of the Trust Fund), not later than the fourth Business Day following such Distribution Date, a $100 fee plus an amount equal to the product of (i) the principal portion of such Guarantor Payment, (ii) a percentage equal to (A) the Prime Rate plus 2.00% divided by (B) 365 and (iii) the number of days between the Trustee Reporting Date and the date on which the Guarantor received the Trustee Remittance Report. (c) Subject to Section 4.04(d)paragraph (d) below, if in any month the Trustee fails to provide the Guarantor the Trustee Remittance Report on or prior to the Trustee Reporting Date due to the negligence or willful misconduct of the TrusteeDate, the Trustee shall pay to the Guarantor the following amounts: (i) upon the first such failure, $1,000500; (ii) upon the second such failure, $2,000750; and (iii) upon the third such failure and failure, 86 $1,000; provided, however, that the Trustee shall not be required to make any such failures thereafter, $3,000payment upon the first such failure during each successive two year period following the Closing Date. The fourth consecutive such failure to provide a Trustee Remittance Report to the Guarantor pursuant to Section 4.05(a) shall constitute an event of default and permit the Guarantor to remove the Trustee for cause. (d) The Trustee shall have no responsibility or liability (including removal as Trustee) under paragraphs (b) and (c) of this Section 4.04 4.05 if the Trustee’s 's failure to timely deliver the Trustee Remittance Report is due to the failure of the Master Servicer to furnish the Trustee with a report in accordance with Section 5.054.04(a). If the Trustee’s 's failure to timely deliver the Trustee Remittance Report is due to the failure of the Master Servicer to furnish the Trustee with a report in accordance with the Servicing AgreementSection 4.04(a), the Master Servicer will shall pay to the Guarantor the amount set forth in Section 4.04(c4.05(b) above (i.e., i.e. the product of the amounts described in clauses (i), (ii) and (iii) of Section 4.04(c)4.05(b) above) and the following additional amounts: (i) upon the first such failure, $500; (ii) upon the second such failure, $750; and (iii) upon the third such failure, $1,000; provided, however, that the Master Servicer shall not be required to make any such payment upon the first such failure during each successive two year period following the Closing Date. The fourth consecutive such failure to provide the Trustee with a report in accordance with Section 4.04(a) and thereby causing the Trustee's failure to timely deliver a Trustee Remittance Report to the Guarantor pursuant to Section 4.05(a) shall constitute an event of default and permit the Servicing Guarantor to remove the Master Servicer for cause. (e) On each Trustee Reporting Date by noon New York time, the Trustee shall forward a Liquidation Report for the related Distribution Date (in the form attached as Exhibit K to this Agreement) to the Guarantor and the NIMS Insurer by electronic medium as agreed to by the Trustee, the Guarantor and the NIMS Insurer, to the extent that the Trustee has received from the Master Servicer such Liquidation Report.

The Trustee Remittance Report. (a) On each Trustee Reporting Date by noon New York time, the Trustee shall furnish a report (the “"Trustee Remittance Report”") in the form attached as Exhibit M Q to this Agreement, Agreement (together with a statement containing the information that is required to be included in the statement to be prepared by the Trustee pursuant to Section 4.03) to the Guarantor and the NIMS Insurer by electronic medium as agreed to by the Trustee Trustee, the Guarantor and the GuarantorNIMS Insurer. (b) Subject to Section 4.04(d)paragraph (d) below, if in any month the Trustee fails to deliver the Trustee Remittance Report by noon New York time on the related Trustee Reporting Date, the Guarantor shall use its best efforts to determine the amount of any required distributionsGuarantor Payment. If on any Distribution Date the Guarantor makes any Guarantor Payment as a result of such failure of the Trustee to deliver the Trustee Remittance Report, the Trustee shall pay the Guarantor from its own funds (not from the proceeds of the Trust Fund), not later than the fourth Business Day following such Distribution Date, a $100 fee plus an amount equal to the product of (i) the principal portion of such Guarantor Payment, (ii) a percentage equal to (A) the Prime Rate plus 2.00% divided by (B) 365 and (iii) the number of days between the Trustee Reporting Date and the date on which the Guarantor received the Trustee Remittance Report. (c) Subject to Section 4.04(d)paragraph (d) below, if in any month the Trustee fails to provide the Guarantor the Trustee Remittance Report on or prior to the Trustee Reporting Date due to the negligence or willful misconduct of the TrusteeDate, the Trustee shall pay to the Guarantor the following amounts: (i) upon the first such failure, $1,000500; (ii) upon the second such failure, $2,000750; and (iii) upon the third such failure and failure, $1,000; provided, however, that the Trustee shall not be required to make any such failures thereafter, $3,000payment upon the first such failure during each successive two year period following the Closing Date. The fourth such failure to provide a Trustee Remittance Report to the Guarantor pursuant to Section 4.09(a) shall constitute an event of default and permit the Guarantor to remove the Trustee for cause. (d) The Trustee shall have no responsibility or liability (including removal as Trustee) under paragraphs (b) and (c) of this Section 4.04 4.09 if the Trustee’s 's failure to timely deliver the Trustee Remittance Report is due to the failure of the Master Servicer to furnish the Trustee with a report in accordance with Section 5.054.04(a). If the Trustee’s 's failure to timely deliver the Trustee Remittance Report is due to the failure of the Master Servicer to furnish the Trustee with a report in accordance with the Servicing AgreementSection 4.04(a), the Master Servicer will shall pay to the Guarantor the amount set forth in Section 4.04(c4.09(b) above (i.e., the product of the amounts described in clauses (i), (ii) and (iii) of Section 4.04(c)4.09(b) above) and the following additional amounts: (i) upon the first such failure, $500; (ii) upon the second such failure, $750; and (iii) upon the third such failure, $1,000; provided, however, that the Master Servicer shall not be required to make any such payment upon the first such failure during each successive two year period following the Closing Date. The fourth such failure to provide the Trustee with a report in accordance with Section 4.04(a) and thereby causing the Trustee's failure to timely deliver a Trustee Remittance Report to the Guarantor pursuant to Section 4.09(a) shall constitute a Master Servicer Event of Termination. (e) On each Trustee Reporting Date by noon New York time, the Servicing Trustee shall forward a Liquidation Report for the related Distribution Date (in the form attached as Exhibit N to this Agreement) to the Guarantor and the NIMS Insurer by electronic medium as agreed to by the Trustee, the Guarantor and the NIMS Insurer, to the extent that the Trustee has received from the Master Servicer such Liquidation Report.

The Trustee Remittance Report. (a) On each Trustee Reporting Date by noon New York time, the Trustee shall furnish a report (the “"Trustee Remittance Report”") in the form attached as Exhibit M N to this Agreement, Agreement (together with a statement containing the information that is required to be included in the statement to be prepared by the Trustee pursuant to Section 4.03) to the Guarantor and the NIMS Insurer by electronic medium as agreed to by the Trustee Trustee, the Guarantor and the GuarantorNIMS Insurer. (b) Subject to Section 4.04(d)paragraph (d) below, if in any month the Trustee fails to deliver the Trustee Remittance Report by noon New York time on the related Trustee Reporting Date, the Guarantor shall use its best efforts to determine the amount of any required distributionsGuarantor Payment. If on any Distribution Date the Guarantor makes any Guarantor Payment as a result of such failure of the Trustee to deliver the Trustee Remittance Report, the Trustee shall pay the Guarantor from its own funds (not from the proceeds of the Trust Fund), not later than the fourth Business Day following such Distribution Date, a $100 fee plus an amount equal to the product of (i) the principal portion of such Guarantor Payment, (ii) a percentage equal to (A) the Prime Rate plus 2.00% divided by (B) 365 and (iii) the number of days between the Trustee Reporting Date and the date on which the Guarantor received the Trustee Remittance Report. (c) Subject to Section 4.04(d)paragraph (d) below, if in any month the Trustee fails to provide the Guarantor the Trustee Remittance Report on or prior to the Trustee Reporting Date due to the negligence or willful misconduct of the TrusteeDate, the Trustee shall pay to the Guarantor the following amounts: (i) upon the first such failure, $1,000500; (ii) upon the second such failure, $2,000750; and (iii) upon the third such failure and failure, $1,000; provided, however, that the Trustee shall not be required to make any such failures thereafter, $3,000payment upon the first such failure during each successive two year period following the Closing Date. The fourth consecutive such failure to provide a Trustee Remittance Report to the Guarantor pursuant to Section 4.05(a) shall constitute an event of default and permit the Guarantor to remove the Trustee for cause. (d) The Trustee shall have no responsibility or liability (including removal as Trustee) under paragraphs (b) and (c) of this Section 4.04 4.05 if the Trustee’s 's failure to timely deliver the Trustee Remittance Report is due 84 to the failure of the Master Servicer to furnish the Trustee with a report in accordance with Section 4.04(a). If the Trustee's failure to timely deliver the Trustee Remittance Report is due to the failure of the Master Servicer to furnish the Trustee with a report in accordance with Section 5.05. If the Trustee’s failure to timely deliver the Trustee Remittance Report is due to the failure of the Servicer to furnish the Trustee with a report in accordance with the Servicing Agreement4.04(a), the Master Servicer will shall pay to the Guarantor the amount set forth in Section 4.04(c4.05(b) above (i.e., i.e. the product of the amounts described in clauses (i), (ii) and (iii) of Section 4.04(c)4.05(b) above) and the following additional amounts: (i) upon the first such failure, $500; (ii) upon the second such failure, $750; and (iii) upon the third such failure, $1,000; provided, however, that the Master Servicer shall not be required to make any such payment upon the first such failure during each successive two year period following the Closing Date. The fourth consecutive such failure to provide the Trustee with a report in accordance with Section 4.04(a) and thereby causing the Trustee's failure to timely deliver a Trustee Remittance Report to the Guarantor pursuant to Section 4.05(a) shall constitute an event of default and permit the Servicing Guarantor to remove the Master Servicer for cause. (e) On each Trustee Reporting Date by noon New York time, the Trustee shall forward a Liquidation Report for the related Distribution Date (in the form attached as Exhibit K to this Agreement) to the Guarantor and the NIMS Insurer by electronic medium as agreed to by the Trustee, the Guarantor and the NIMS Insurer, to the extent that the Trustee has received from the Master Servicer such Liquidation Report.

The Trustee Remittance Report. (a) On the 5th Business Day prior to each Distribution Date (each, a "Trustee Reporting Date Date"), by noon New York time, the Trustee shall furnish a report (the “"Trustee Remittance Report”") in the form attached as Exhibit M J to this Agreement, Agreement (together with a statement containing the information that is required to be included in the statement to be prepared by the Trustee pursuant to Section 4.03) to the Guarantor by electronic medium as agreed to by the Trustee and the Guarantor. (b) Subject to Section 4.04(d)paragraph (d) below, if in any month the Trustee fails to deliver the Trustee Remittance Report by noon New York time on the related Trustee Reporting Date, the Guarantor shall use its best efforts to determine the amount of any required distributionsGuarantor Payment. If on any Distribution Date the Guarantor makes any Guarantor Payment as a result of such failure of the Trustee to deliver the Trustee Remittance Report, the Trustee shall pay the Guarantor from its own funds (not from the proceeds of the Trust Fund), not later than the fourth Business Day following such Distribution Date, a $100 fee plus an amount equal to the product of (i) the principal portion of such Guarantor Payment, (ii) a percentage equal to (A) the Prime Rate plus 2.00% divided by (B) 365 and (iii) the number of days between the Trustee Reporting Date and the date on which the Guarantor received the Trustee Remittance Report. (c) Subject to Section 4.04(d)paragraph (d) below, if in any month the Trustee fails to provide the Guarantor the Trustee Remittance Report on or prior to the Trustee Reporting Date due to the negligence or willful misconduct of the TrusteeDate, the Trustee shall pay to the Guarantor the following amounts: (i) upon the first such failure, $1,000500; (ii) upon the second such failure, $2,000750; and (iii) upon the third such failure and failure, $1,000; provided, however, that the Trustee shall not be required to make any such failures thereafter, $3,000payment upon the first such failure during each successive two year period following the Closing Date. The fourth consecutive such failure to provide a Trustee Remittance Report to the Guarantor pursuant to Section 4.01(a) shall constitute an event of default and permit the Guarantor to remove the Trustee for cause. (d) The Trustee shall have no responsibility or liability (including removal as Trustee) under paragraphs (b) and (c) of this Section 4.04 4.01 if the Trustee’s failure to timely deliver the Trustee Remittance Report is due to the failure of the Servicer to furnish the Trustee with a report in accordance with Section 5.05. If the Trustee’s 's failure to timely deliver the Trustee Remittance Report is due to the failure of the Servicer to furnish the Trustee with a report in accordance with the Servicing Agreement, the Servicer will pay to the Guarantor the amount set forth in Section 4.04(c) (i.e., the product of the amounts described in clauses (i), (ii) and (iii) of Section 4.04(c)) pursuant to the Servicing Agreement.

The Trustee Remittance Report. (a) On each Trustee Reporting Determination Date by noon New York Pacific coast time, the Trustee shall furnish a report (the “"Trustee Remittance Report”") in the form attached as Exhibit M F-1 to this Agreement, Agreement (together with a statement containing the information that is required to be included in the statement to be prepared by the Trustee pursuant to Section 4.03) to the Guarantor by electronic medium as agreed to by the Trustee and the Guarantor. (b) Subject to Section 4.04(d)paragraph (d) below, if in any month the Trustee fails to deliver the Trustee Remittance Report by noon New York 5:00 p.m. Pacific coast time on the related Trustee Reporting Determination Date, the Guarantor shall use its best efforts to determine the amount of any required distributionsGuarantor Payment. If on any Distribution Date the Guarantor makes any Guarantor Payment as a result of the failure of the Trustee to distribute any remittance, the Trustee shall pay the Guarantor from its own funds (not from the proceeds of the Trust Fund), not later than the fourth Business Day following such Distribution Date, a $100 fee plus an amount equal to the product of (i) the principal portion of such Guarantor Payment, (ii) a percentage equal to (A) the Prime Rate plus 2.00% divided by (B) 365 and (iii) the number of days between the Determination Date and the date on which the Guarantor received the Trustee Remittance Report. (c) Subject to Section 4.04(d)paragraph (d) below, if in any month the Trustee fails to provide the Guarantor the Trustee Remittance Report on or prior to the Trustee Reporting Date due to the negligence or willful misconduct of the TrusteeDetermination Date, the Trustee shall pay to the Guarantor the following amounts: (i) upon the first such failure, $1,000500; (ii) upon the second such failure, $2,000750; and (iii) upon the third such failure and failure, $1,000; provided, however, that the Trustee shall not be required to make any such failures thereafter, $3,000payment upon the first such failure during each successive two year period following the Closing Date. The fourth consecutive such failure to provide a Trustee Remittance Report to the Guarantor pursuant to Section 4.05 (a) shall constitute an event of default and permit the Guarantor to remove the Trustee for cause. (d) The Trustee shall have no responsibility or liability (including removal as Trustee) under paragraphs (b) and (c) of this Section 4.04 4.03 if the Trustee’s 's failure to timely deliver the Trustee Remittance Report is due to the failure of the Servicer to furnish the Trustee with a report in accordance with Section 5.054.03(a). If the Trustee’s 's failure to timely deliver the Trustee Remittance Report is due to the failure of the Servicer to furnish the Trustee with a report in accordance with the Servicing AgreementSection 4.03(a), the Servicer will shall pay to the Guarantor the amount set forth in Section 4.04(c4.03(b) above (i.e., the product of the amounts described in clauses (i), (ii) and (iii) of Section 4.04(c)4.03(b) above) and the following additional amounts: (i) upon the first such failure, $500; (ii) upon the second such failure, $750; and (iii) upon the third such failure, $1,000; provided, however, that the Servicer shall not be required to make any such payment upon the first such failure during each successive two year period following the Closing Date. The fourth consecutive such failure to provide the Trustee with a report to accordance with Section 4.04(a) and thereby causing the Trustee's failure to timely deliver a Trustee Remittance Report to the Guarantor pursuant to Section 4.03(a) shall constitute an Event of Servicing Termination and permit the Servicing AgreementGuarantor to remove the Servicer for cause. (e) On each Determination Date by 5:00 p.m. Pacific coast time, the Trustee shall forward to the Guarantor by electronic medium as agreed to by the Trustee and the Guarantor a report describing each Mortgage Loan that became a Liquidated Mortgage Loan during the related Collection Period, any Liquidation Proceeds received or Liquidation Loss Amounts incurred with respect to each such Liquidated Mortgage Loan and Liquidation Expenses incurred in the liquidation of any such Liquidated Mortgage Loan, in each case to the extent that the Trustee has received from the Servicer a report providing such information.

The Trustee Remittance Report. (a) On each Trustee Reporting Determination Date by noon New York Eastern Standard time, the Trustee shall furnish a report (the “"Trustee Remittance Report”") in the form attached as Exhibit M F-1 to this Agreement, Agreement (together with a statement containing the information that is required to be included in the statement to be prepared by the Trustee pursuant to Section 4.03) to the Guarantor and the Insurer by electronic medium as agreed to by the Trustee Trustee, the Guarantor and the GuarantorInsurer, or as applicable. (b) Subject to Section 4.04(d)paragraph (d) below, if in any month the Trustee fails to deliver the Trustee Remittance Report by noon New York 5:00 p.m. Eastern Standard time on the related Trustee Reporting Determination Date, the Guarantor shall use its best efforts to determine the amount of any required distributionsGuarantor Payment. If on any Distribution Date the Guarantor makes any Guarantee Payment as a result of the failure of the Trustee to distribute any remittance, the Trustee shall pay the Guarantor from its own funds (not from the proceeds of the Trust Fund), not later than the fourth Business Day following such Distribution Date, a $100 fee plus an amount equal to the product of (i) the principal portion of such Guarantee Payment, (ii) a percentage equal to (A) the Prime Rate plus 2.00% divided by (B) 365 and (iii) the number of days between the Determination Date and the date on which the Guarantor received the Trustee Remittance Report. (c) Subject to Section 4.04(d)paragraph (d) below, if in any month the Trustee fails to provide the Guarantor the Trustee Remittance Report on or prior to the Trustee Reporting Date due to the negligence or willful misconduct of the TrusteeDetermination Date, the Trustee shall pay to the Guarantor the following amounts: (i) upon the first such failure, $1,000500; (ii) upon the second such failure, $2,000750; and (iii) upon the third such failure and failure, $1,000; provided, however, that the Trustee shall not be required to make any such failures thereafter, $3,000payment upon the first such failure during each successive two year period following the Closing Date. The fourth consecutive such failure to provide a Trustee Remittance Report to the Guarantor pursuant to Section 4.03 (a) shall constitute an event of default and permit the Guarantor to remove the Trustee for cause. (d) The Trustee shall have no responsibility or liability (including removal as Trustee) under paragraphs (b) and (c) of this Section 4.04 4.03 if the Trustee’s 's failure to timely deliver the Trustee Remittance Report is due to the failure of the Servicer to furnish the Trustee with a report Servicing Certificate or Loan Data Remittance Report in accordance with Section 5.05Sections 4.01 and 4.04(a). If the Trustee’s 's failure to timely deliver the Trustee Remittance Report is due to the failure of the Servicer to furnish the Trustee with a report Servicing Certificate or Loan Data Remittance Report in accordance with the Servicing AgreementSections 4.01 and 4.04(a), the Servicer will shall pay to the Guarantor the amount set forth in Section 4.04(c4.03(b) above provided, however, that the Servicer shall not be required to make any such payment upon the first such failure during each successive two year period following the Closing Date. The fourth consecutive such failure to provide the Trustee with a report to accordance with Section 4.04(a) and thereby causing the Trustee's failure to timely deliver a Trustee Remittance Report to the Guarantor pursuant to Section 4.03(a) shall constitute an Event of Servicing Termination and permit the Guarantor to remove the Servicer for cause. (i.e.e) On each Determination Date by noon Eastern Standard time, the product of the amounts described in clauses (i), (ii) and (iii) of Section 4.04(c)) pursuant Trustee shall forward to the Servicing AgreementGuarantor by electronic medium as agreed to by the Trustee and the Guarantor a report describing each Mortgage Loan that became a Liquidated Mortgage Loan during the related Collection Period, any Liquidation Proceeds received or Liquidation Loss Amounts incurred with respect to each such Liquidated Mortgage Loan and Liquidation Expenses incurred in the liquidation of any such Liquidated Mortgage Loan, in each case to the extent that the Trustee has received from the Servicer a report providing such information.

The Trustee Remittance Report. (a) On No later than four Business Days prior to each Trustee Reporting Distribution Date by noon New York time, the Trustee shall furnish a report (the “"Trustee Remittance Report”") in the form attached as Exhibit M to this Agreement, Agreement (together with a statement containing the information that is required to be included in the statement to be prepared by the Trustee pursuant to Section 4.03) to the Guarantor and the NIMS Insurer by electronic medium as agreed to by the Trustee Trustee, the Guarantor and the GuarantorNIMS Insurer. (b) Subject to Section 4.04(d4.10(d), if in any month the Trustee fails to deliver the Trustee Remittance Report by noon New York time on the related Trustee Reporting Dateas provided in Section 4.10(a), the Guarantor shall use its best efforts to determine the amount of any required distributionsGuarantor Payment. If on any Distribution Date the Guarantor makes any Guarantor Payment as a result of such failure of the Trustee to deliver the Trustee Remittance Report, the Trustee shall pay the Guarantor from its own funds (not from the proceeds of the Trust Fund), not later than the fourth Business Day following such Distribution Date, a $100 fee plus an amount equal to the product of (i) the principal portion of such Guarantor Payment, (ii) a percentage equal to (A) the weighted average of the Pass-Through Rates of the Class A-1 Certificates plus 2.00% divided by (B) 365 and (iii) the number of days between the date by which the Trustee had been required to deliver the Trustee Remittance Report pursuant to Section 4.10(a) and the date on which the Guarantor received the Trustee Remittance Report. (c) Subject to Section 4.04(d4.10(d), if in any month the Trustee fails to provide the Guarantor the Trustee Remittance Report on or prior to the Trustee Reporting Date due to the negligence or willful misconduct of the Trusteedate specified in Section 4.10(a), the Trustee shall pay to the Guarantor the following amounts: (i) upon the first such failure, $1,000500; (ii) upon the second such failure, $2,000750; and (iii) upon the third such failure and failure, $1,000; provided, however, that the Trustee shall not be required to make any such failures thereafter, $3,000payment upon the first such failure during each successive two year period following the Closing Date. The fourth consecutive such failure to provide a Trustee Remittance Report to the Guarantor pursuant to Section 4.10(a) shall constitute an event of default and permit the Guarantor to remove the Trustee for cause. (d) The Trustee shall have no responsibility or liability (including removal as Trustee) under paragraphs (b) and (c) of this Section 4.04 4.10 if the Trustee’s 's failure to deliver timely deliver the Trustee Remittance Report is due to the failure of the Master Servicer to furnish the Trustee with a report in accordance with Section 5.054.04(a). If the Trustee’s 's failure to deliver timely deliver the Trustee Remittance Report is due to the failure of the Master Servicer to furnish the Trustee with a report in accordance with the Servicing AgreementSection 4.04(a), the Master Servicer will shall pay to the Guarantor the amount set forth in Section 4.04(c4.10(b) above (i.e., i.e. the product of the amounts described in clauses (i), (ii) and (iii) of Section 4.04(c)4.10(b) above) and the following additional amounts: (i) upon the first such failure, $500; (ii) upon the second such failure, $750; and (iii) upon the third such failure, $1,000; provided, however, that the Master Servicer shall not be required to make any such payment upon the first such failure during each successive two year period following the Closing Date. The fourth consecutive such failure to provide the Trustee with a report in accordance with Section 4.04(a) and thereby causing the Trustee's failure to timely deliver a Trustee Remittance Report to the Guarantor pursuant to Section 4.10(a) shall constitute an event of default and permit the Servicing AgreementGuarantor to remove the Master Servicer for cause.

The Trustee Remittance Report. (a) On each Trustee Reporting Date by 12:00 noon New York City time, the Trustee shall furnish a report (the “"Trustee Remittance Report”") in the form attached as Exhibit M to this Agreement, to the Guarantor by electronic medium and in writing both as agreed to by the Trustee and the Guarantor. (b) Subject to Section 4.04(d)paragraph (e) below, if in any month the Trustee fails to deliver the Trustee Remittance Report by noon New York time the close of business on the related Trustee Reporting Date, the Guarantor shall use its best efforts to determine the amount of any required distributionsGuarantor Payment, if any. If on any Payment Date the Guarantor makes any Guarantor Payment as a result of such failure of the Trustee to deliver the Trustee Remittance Report, the Trustee shall pay the Guarantor from its own funds (not from the proceeds of the Trust), not later than the fourth day following such Payment Date, an amount equal to the product of (i) the principal portion of such Guarantor Payment, (ii) a percentage equal to (A) the Prime Rate divided by (B) 365 and (iii) the number of days between the Trustee Reporting Date and the date on which Xxxxxxx Mac received the Trustee Remittance Report. (c) Subject to Section 4.04(d)paragraph (e) below, if in any month the Trustee fails to provide the Guarantor the Trustee Remittance Report on or prior to the Trustee Reporting Date due to the negligence or willful misconduct of the TrusteeDate, the Trustee shall pay to the Guarantor the following amounts: (i) upon the first such failure, $1,0002,500; (ii) upon the second such failure, $2,0005,000; and (iii) upon the third such failure and failure, $7,500; provided, however, that the Trustee shall not be required to make any such failures thereafter, $3,000payment upon the first such failure during each successive one year period following the Closing Date. The fourth consecutive such failure to provide a Trustee Remittance Report to the Guarantor shall constitute an event of default and permit the Guarantor to remove the Trustee for cause. (d) The Notwithstanding paragraphs (b) and (c) above, if any failure of the Trustee to deliver the Trustee Remittance Report is caused by the failure of the Servicer or the Special Servicer to provide the Servicer's Monthly Servicing Report by the fifth Business Day prior to the related Payment Date, the Servicer or the Special Servicer, as applicable, shall pay the amounts indicated in paragraphs (b) and (c), as applicable, to the Guarantor. Further, the Trustee shall have no responsibility or liability (including removal as Trustee) under paragraphs (b) and (c) of this Section 4.04 7.06 if the Trustee’s 's failure to timely deliver the Trustee Remittance Report is due to the failure of the Master Servicer to furnish the Trustee with a report complete and accurate Aggregate Monthly Servicing Report in accordance with Section 5.05. If the Trustee’s failure to timely deliver the Trustee Remittance Report is due to the failure of the Servicer to furnish the Trustee with a report in accordance with the Servicing Agreement, the Servicer will pay to the Guarantor the amount set forth in Section 4.04(c) (i.e., the product of the amounts described in clauses (i8.29(g), (ii) and (iii) of Section 4.04(c)) pursuant to the Servicing Agreement.