Verification of Funding Report Sample Clauses

Verification of Funding Report. (a) Upon the Trustee's receipt of a Funding Report pursuant to Section 3.03(b) hereof, the Trustee shall recompute all of the calculations in such Funding Report (including without limitation a recalculation of the Implicit Principal Balances of the related Lease Contracts) based on the information contained in the list of Lease Contracts forwarded to it by diskette or electronic transfer, any other information in the possession of the Servicer and the Certificate Funding Administrator regarding all other Lease Contracts and the information used to generate the most recent Monthly Servicer's Report, and if the Trustee does not discover and is not notified of any errors in the calculations in such Funding Report that
Sample 1
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Verification of Funding Report. (a) Upon the Trustee's receipt of a Funding Report pursuant to Section 3.03(b) hereof, the Trustee shall recompute all of the calculations in such Funding Report (including without limitation a recalculation of the Implicit Principal Balance of the related Lease Contracts) based on the information contained in the list of Lease Contracts forwarded to it by diskette or electronic transfer, the existing information regarding all other Lease Contracts and the existing information used to generate the Monthly Servicer's Report. If the Trustee does not discover and is not notified of any errors in the calculations in such Funding Report that have not been corrected by 3:00 p.m. (New York time) on the Business Day immediately preceding the proposed Funding Date and all of the conditions precedent set forth in Section 3.03 hereof have been satisfied (provided, however, that with respect to 3.03(a)(vii)(A), the Trustee may conclusively rely on the Company Certificate), the Trustee shall release the amounts specified in Section 3.02(b) from the Cash Collateral Account and the Prefunding Account in accordance with Section 3.02
Sample 1
Verification of Funding Report. (a) Upon the Trustee's receipt of a Funding Report pursuant to Section 3.03(b) hereof, the Trustee shall recompute all of the calculations in such Funding Report (including without limitation a recalculation of the Implicit Principal Balances of the related Lease Contracts) based on the information contained in the list of Lease Contracts forwarded to it by diskette or electronic transfer, the existing information regarding all other Lease Contracts and the existing information used to generate the Monthly Servicer's Report, and if the Trustee does not discover and is not notified of any errors in the calculations in such Funding Report that have not been corrected by 3:00 p.m. (New York time) on the Business Day immediately preceding the proposed Funding Date and all of the conditions precedent set forth in Section 3.03 hereof have been satisfied (provided, however, that with respect to 3.03(a)(vii)(A), the Trustee may conclusively rely on the Company Certificate), the Trustee shall notify the Certificateholders of the Funding Amount by faxing the Funding Report to the Certificateholders by 3:00 p.m. (New York time) on the Business Day immediately preceding the proposed Funding Date. If the Trustee discovers or is notified of any error in the Funding Report that is not corrected by 3:00 p.m. (New York time) on the Business Day immediately preceding the proposed Funding Date or if any of the conditions precedent set forth in Section 3.03(a) hereof have not been satisfied, the Trustee shall notify the Certificateholders that the applicable Funding is postponed until the next Business Day following resolution of any such error, and the Trustee shall thereupon notify MBIA, the Certificate Funding Administrator and the Transferor of such error. If MBIA discovers any error in the Funding Report after a Funding based on such report, MBIA shall notify the Trustee, the Servicer, the Company, the Certificate Funding Administrator and the Transferor.
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Related to Verification of Funding Report

  • Compliance Certificate and Opinions Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall furnish to the Trustee an Officers' Certificate stating that all conditions precedent (including covenants compliance with which constitutes a condition precedent), if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent (including covenants compliance with which constitutes a condition precedent), if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished. Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than the certificates provided pursuant to Section 10.4) shall include:

  • Request for Opinions (a) The Depositor hereby requests and authorizes XxXxx Xxxxxx LLP, as its counsel in this transaction, to issue on behalf of the Depositor such legal opinions to the Trustee, the Securities Administrator and each Rating Agency as may be (i) required by any and all documents, certificates or agreements executed in connection with the Trust, or (ii) requested by the Trustee, the Securities Administrator, any such Rating Agency or their respective counsels.

  • Delivery of Officer’s Certificate and Opinion of Counsel to the Trustee Before the effective time of any Business Combination Event, the Company will deliver to the Trustee an Officer’s Certificate and Opinion of Counsel, each stating that (i) such Business Combination Event (and, if applicable, the related supplemental indenture) comply with Section 6.01(A); and (ii) all conditions precedent to such Business Combination Event provided in this Indenture have been satisfied.

  • Statements Required in Certificate and Opinion Each certificate and opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include:

  • Report on Assessment of Compliance with Servicing Criteria and Attestation The Servicer will:

  • Annual Reports on Assessment of Compliance with Servicing Criteria (a) On or before March 1 of each year commencing in March 2018, the Master Servicer, the Special Servicer, the Certificate Administrator, the Custodian, the Operating Advisor and, if it has made (or is required to make) an Advance during the applicable calendar year, the Trustee, each at its own expense, shall furnish (and each of the preceding parties, as applicable, (i) with respect to any Servicing Function Participant of such party that is a Mortgage Loan Seller Sub-Servicer, shall use commercially reasonable efforts to cause such Servicing Function Participant to furnish, and (ii) with respect to any other Servicing Function Participant of such party (other than any party to this Agreement), shall cause such Servicing Function Participant to furnish) (each Master Servicer, the Special Servicer, the Certificate Administrator, the Custodian, the Operating Advisor, any Servicing Function Participant and, if it has made (or is required to make) an Advance during the applicable calendar year, the Trustee, as the case may be, a “Reporting Servicer”) to the Certificate Administrator, the Trustee, the Serviced Companion Loan Holders (or, in the case of a Serviced Companion Loan that is part of an Other Securitization Trust, the applicable Other Depositor and Other Exchange Act Reporting Party), the Operating Advisor (only in the case of a report furnished by the Special Servicer) and the Depositor, a report on an assessment of compliance with the Relevant Servicing Criteria (together with a copy thereof in XXXXX-Compatible Format, or in such other format as otherwise agreed upon by the Depositor, the Certificate Administrator, the applicable Other Depositor, the applicable Other Exchange Act Reporting Party and the applicable Certifying Servicer) that complies in all material respects with the requirements of Item 1122 of Regulation AB and contains (A) a statement by such Reporting Servicer of its responsibility for assessing compliance with the Relevant Servicing Criteria, (B) a statement that such Reporting Servicer used the Servicing Criteria to assess compliance with the Relevant Servicing Criteria, (C) such Reporting Servicer’s assessment of compliance with the Relevant Servicing Criteria as of the end of and for the preceding calendar year, including, if there has been any material instance of noncompliance with the Relevant Servicing Criteria, a discussion of each such failure and the nature and status thereof and (D) a statement that a registered public accounting firm has issued an attestation report on such Reporting Servicer’s assessment of compliance with the Relevant Servicing Criteria as of and for such period. Copies of all compliance reports delivered pursuant to this Section 10.09 shall be provided to any Certificateholder, upon the written request thereof, by the Certificate Administrator. Each such report shall be addressed to the Depositor and each Other Depositor (if addressed) and signed by an authorized officer of the applicable company, and shall address each of the Relevant Servicing Criteria specified on a certification substantially in the form of Exhibit O to this Agreement delivered to the Depositor on the Closing Date. Promptly after receipt of each such report, (i) the Depositor and each Other Depositor may review each such report and, if applicable, consult with the each Reporting Servicer as to the nature of any material instance of noncompliance with the Relevant Servicing Criteria, and (ii) the Certificate Administrator shall confirm that the assessments, taken individually address the Relevant Servicing Criteria for each party as set forth on Exhibit O to this Agreement and notify the Depositor of any exceptions. For the avoidance of doubt, the Trustee shall have no obligation or duty to determine whether any such report (other than any such report furnished by the Trustee or any Servicing Function Participant of the Trustee) is in form and substance in compliance with the requirements of Regulation AB.

  • Report of Assessment of Compliance with Servicing Criteria As defined in Section 4.02(a) of the Servicing Agreement.

  • Officers’ Certificate and Opinion of Counsel Given to Purchase Contract Agent The Purchase Contract Agent, subject to Sections 7.01 and 7.03, shall receive an Officers' Certificate and an Opinion of Counsel as conclusive evidence that any such merger, consolidation, share exchange, sale, assignment, transfer, lease or conveyance, and any such assumption, complies with the provisions of this Article and that all conditions precedent to the consummation of any such merger, consolidation, share exchange, sale, assignment, transfer, lease or conveyance have been met.

  • Field Audit and Examination Reports; Disclaimer by Lenders By signing this Agreement, each Lender:

  • Investigation of Financial Condition Without in any manner reducing or otherwise mitigating the representations contained herein, Company shall have the opportunity to meet with Buyer's accountants and attorneys to discuss the financial condition of Buyer. Buyer shall make available to Company all books and records of Buyer.

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