Common use of Verification of Servicer's Certificate Clause in Contracts

Verification of Servicer's Certificate. (a) On or before the fifth Business Day of each month, the Servicer will deliver to the Trust Collateral Agent and the Back-up Servicer a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent and the Back-up Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding Collection Period as is necessary for preparation of the Servicer's Certificate. The Back-up Servicer shall use such computer diskette (or other electronic transmission) to verify the information specified in Section 4.15(b)(iii) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Servicer shall certify to the Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 4.15 and shall notify the Servicer, the Note Insurer and the Trust Collateral Agent of any discrepancies, in each case, on or before the related Deficiency Claim Date. In the event that the Back-up Servicer reports any discrepancies, the Servicer and the Back-up Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments with respect to the related Payment Date. In the event that the Back-up Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Date, (i) the Back-up Servicer will notify the Note Insurer and the Trust Collateral Agent, and (ii) the Servicer shall cause a firm of independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Servicer.

Appears in 13 contracts

Samples: Sale and Servicing Agreement (Long Beach Acceptance Receivables Corp. II), Sale and Servicing Agreement (Long Beach Acceptance Corp. Auto Receivables Trust 2006-A), Sale and Servicing Agreement (Long Beach Acceptance Corp)

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Verification of Servicer's Certificate. (a) On or before the fifth Business Day calendar day of each month, the Servicer will deliver to the Trust Collateral Agent Trustee and the Back-up Backup Servicer a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent Trustee and the Back-up Backup Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding related Collection Period as which information is necessary for preparation of the Servicer's ’s Certificate. The Back-up Backup Servicer shall use such computer diskette (or other electronic transmission) to verify the certain information specified in Section 4.15(b)(iii4.13(b) contained in the Servicer's ’s Certificate delivered by the Servicer, and the Back-up Backup Servicer shall certify to the Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 4.15 and shall notify the Servicer, the Note Insurer and the Trust Collateral Agent Servicer of any discrepancies, in each case, discrepancies on or before the related Deficiency Claim second Business Day following the Determination Date. In the event that the Back-up Backup Servicer reports any discrepancies, the Servicer and the Back-up Backup Servicer shall attempt to reconcile such discrepancies prior to the second Business Day prior to the related Deficiency Claim Payment Date, but in the absence of a reconciliation, the Servicer's ’s Certificate shall control for the purpose of calculations and payments distributions with respect to the related Payment Date. In the event that the Back-up Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's ’s Certificate by the related Payment Date, (i) the Back-up Servicer will notify the Note Insurer and the Trust Collateral Agent, and (ii) the Servicer shall cause a firm of independent certified public accountants, at the Servicer's ’s expense, to audit the Servicer's ’s Certificate and, prior to the fifth calendar day of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's ’s Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Backup Servicer.

Appears in 7 contracts

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

Verification of Servicer's Certificate. (a) On or before the fifth Business Day calendar day of each month, the Servicer will deliver to the Trust Collateral Agent Trustee and the Back-up Standby Servicer a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent Trustee and the Back-up Standby Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding Collection Period as which information is necessary for preparation of the Servicer's Certificate. The Back-up Standby Servicer shall use such computer diskette (or other electronic transmission) to verify the certain information specified in Section 4.15(b)(iii4.13(b) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Standby Servicer shall certify to notify the Servicer and the Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 4.15 and shall notify the Servicer, the Note Insurer and the Trust Collateral Agent of any discrepancies, in each case, discrepancies on or before the related Deficiency Claim second Business Day following the Determination Date. In the event that the Back-up Standby Servicer reports any discrepancies, the Servicer and the Back-up Standby Servicer shall attempt to reconcile such discrepancies prior to the second Business Day prior to the related Deficiency Claim Payment Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments distributions with respect to the related Payment Date. In the event that the Back-up Standby Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Date, (i) the Back-up Servicer will notify the Note Insurer and the Trust Collateral Agent, and (ii) the Servicer shall cause a firm of independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Standby Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Standby Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Standby Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Standby Servicer.

Appears in 7 contracts

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

Verification of Servicer's Certificate. (a) On or before the fifth Business Day calendar day of each month, the Servicer will deliver to the Trust Collateral Agent Indenture Trustee and the Back-up Backup Servicer a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent Indenture Trustee and the Back-up Backup Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding related Collection Period as which information is necessary for preparation of the Servicer's ’s Certificate. The Back-up Backup Servicer shall use such computer diskette (or other electronic transmission) to verify the certain information specified in Section 4.15(b)(iii4.13(b) contained in the Servicer's ’s Certificate delivered by the Servicer, and the Back-up Backup Servicer shall certify to the Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 4.15 and shall notify the Servicer, the Note Insurer and the Trust Collateral Agent Servicer of any discrepancies, in each case, discrepancies on or before the related Deficiency Claim second Business Day following the Determination Date. In the event that the Back-up Backup Servicer reports any discrepancies, the Servicer and the Back-up Backup Servicer shall attempt to reconcile such discrepancies prior to the second Business Day prior to the related Deficiency Claim Payment Date, but in the absence of a reconciliation, the Servicer's ’s Certificate shall control for the purpose of calculations and payments distributions with respect to the related Payment Date. In the event that the Back-up Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's ’s Certificate by the related Payment Date, (i) the Back-up Servicer will notify the Note Insurer and the Trust Collateral Agent, and (ii) the Servicer shall cause a firm of independent certified public accountants, at the Servicer's ’s expense, to audit the Servicer's ’s Certificate and, prior to the fifth calendar day of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's ’s Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Backup Servicer.

Appears in 5 contracts

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

Verification of Servicer's Certificate. (a) On or before the fifth Business Day calendar day of each month, the Servicer will deliver to the Trust Collateral Agent Trustee and the Back-up Backup Servicer a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent Trustee and the Back-up Backup Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding related Collection Period as which information is necessary for preparation of the Servicer's Certificate. The Back-up Backup Servicer shall use such computer diskette (or other electronic transmission) to verify the certain information specified in Section 4.15(b)(iii4.13(b) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Backup Servicer shall certify to notify the Servicer and the Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 4.15 and shall notify the Servicer, the Note Insurer and the Trust Collateral Agent of any discrepancies, in each case, discrepancies on or before the related Deficiency Claim second Business Day following the Determination Date. In the event that the Back-up Backup Servicer reports any discrepancies, the Servicer and the Back-up Backup Servicer shall attempt to reconcile such discrepancies prior to the second Business Day prior to the related Deficiency Claim Payment Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments distributions with respect to the related Payment Date. In the event that the Back-up Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Date, (i) the Back-up Servicer will notify the Note Insurer and the Trust Collateral Agent, and (ii) the Servicer shall cause a firm of independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-Backup Servicer. Notwithstanding the fact that the Backup Servicer shall receive the data referenced in this Section 4.13(a) on a monthly basis, at the request of the Note Insurer, the Backup Servicer agrees to receive and the Servicer agrees to deliver any such data with respect to the Receivables from the Servicer on a more frequent basis, up Servicerto and including daily or weekly transmissions.

Appears in 5 contracts

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

Verification of Servicer's Certificate. (a) On or before the fifth Business Day of each month, the Servicer will deliver to the Trust Collateral Agent and the Back-up Servicer a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent and the Back-up Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding Collection Period as is necessary for preparation of the Servicer's Certificate. The Back-up Servicer shall use such computer diskette (or other electronic transmission) to verify the information specified in Section 4.15(b)(iii) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Servicer shall certify to the Note Insurer and the Demand Note Provider that it has verified the Servicer's Certificate in accordance with this Section 4.15 and shall notify the Servicer, the Note Insurer Insurer, the Demand Note Provider and the Trust Collateral Agent of any discrepancies, in each case, on or before the related Deficiency Claim Date. In the event that the Back-up Servicer reports any discrepancies, the Servicer and the Back-up Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments with respect to the related Payment Date. In the event that the Back-up Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Date, (i) the Back-up Servicer will notify the Note Insurer Insurer, the Demand Note Provider and the Trust Collateral Agent, and (ii) the Servicer shall cause a firm of independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Servicer.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Long Beach Acceptance Auto Receivables Trust 2005-A), Sale and Servicing Agreement (Long Beach Acceptance Corp. Auto Receivables Trust 2004-B), Sale and Servicing Agreement (Long Beach Acceptance Receivables Corp.)

Verification of Servicer's Certificate. (a) On or before the fifth Business Day of each month, the Servicer will deliver to the Trust Collateral Agent and the Back-up Servicer a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent and the Back-up Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding Collection Period as is necessary for preparation of the Servicer's Certificate. The Back-up Servicer shall use such computer diskette (or other electronic transmission) to verify the information specified in Section 4.15(b)(iii) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Servicer shall certify to [the Note Insurer Insurer] that it has verified the Servicer's Certificate in accordance with this Section 4.15 and shall notify the Servicer, [the Note Insurer Insurer] and the Trust Collateral Agent of any discrepancies, in each case, on or before the related [Deficiency Claim Date]. In the event that the Back-up Servicer reports any discrepancies, the Servicer and the Back-up Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments with respect to the related Payment Date. In the event that the Back-up Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Date, (i) the Back-up Servicer will notify [the Note Insurer Insurer] and the Trust Collateral Agent, and (ii) the Servicer shall cause a firm of independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, [if so requested by the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing) )] deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by [the Note Insurer Insurer] for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Servicer.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (Long Beach Acceptance Receivables Corp.), Sale and Servicing Agreement (Long Beach Acceptance Receivables Corp. II), Sale and Servicing Agreement (Long Beach Acceptance Corp)

Verification of Servicer's Certificate. (a) On or before the fifth Business Day calendar day of each month, the Servicer will deliver to the Trust Collateral Agent Trustee and [the Back-up Servicer Standby Servicer] a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent Trustee and [the Back-up Servicer Standby Servicer] containing such information with respect to the Receivables as of the close of business on the last day of the preceding Collection Period as which information is necessary for preparation of the Servicer's Certificate. [The Back-up Servicer Standby Servicer] shall use such computer diskette (or other electronic transmission) to verify the certain information specified in Section 4.15(b)(iii3.16(b) contained in the Servicer's Certificate delivered by the Servicer, and [the Back-up Servicer shall certify to the Note Insurer that it has verified the Standby Servicer's Certificate in accordance with this Section 4.15 and ] shall notify the Servicer, the Note Insurer Servicer and the Trust Collateral Agent [Credit Enhancer] of any discrepancies, in each case, discrepancies on or before the related Deficiency Claim second Business Day following the Determination Date. In the event that [the Back-up Servicer Standby Servicer] reports any discrepancies, the Servicer and [the Back-up Servicer Standby Servicer] shall attempt to reconcile such discrepancies prior to the second Business Day prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments distributions with respect to the related Payment Distribution Date. In the event that [the Back-up Servicer Standby Servicer] and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Distribution Date, (i) the Back-up Servicer will notify the Note Insurer and the Trust Collateral Agent, and (ii) the Servicer shall cause a firm of independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, [the Back-up Servicer Standby Servicer] shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. [The Back-up Servicer Standby Servicer] shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of [the Back-up Servicer Standby Servicer] shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against [the Back-up Standby Servicer].

Appears in 2 contracts

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

Verification of Servicer's Certificate. (a) On or before the fifth Business Day calendar day of each month, the Servicer will deliver to the Trust Collateral Agent Trustee and the Back-up Standby Servicer a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent Trustee and the Back-up Standby Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding Collection Period as which information is necessary for preparation of the Servicer's Certificate. The Back-up Standby Servicer shall use such computer diskette (or other electronic transmission) to verify the certain information specified in Section 4.15(b)(iii3.16(b) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Standby Servicer shall certify to the Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 4.15 and shall notify the Servicer, the Note Insurer Servicer and the Trust Collateral Agent Certificate Insurer of any discrepancies, in each case, discrepancies on or before the related Deficiency Claim second Business Day following the Determination Date. In the event that the Back-up Standby Servicer reports any discrepancies, the Servicer and the Back-up Standby Servicer shall attempt to reconcile such discrepancies prior to the second Business Day prior to the related Deficiency Claim Distribution Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments distributions with respect to the related Payment Distribution Date. In the event that the Back-up Standby Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Distribution Date, (i) the Back-up Servicer will notify the Note Insurer and the Trust Collateral Agent, and (ii) the Servicer shall cause a firm of independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Standby Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Standby Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Standby Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Standby Servicer.

Appears in 2 contracts

Samples: Servicing Agreement (Consumer Portfolio Services Inc), Pooling and Servicing Agreement (Financial Asset Securities Corp)

Verification of Servicer's Certificate. (a) On or before the fifth Business Day of each month, the Servicer will deliver to the Trust Collateral Agent Trustee and the Back-up Servicer a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent Trustee and the Back-up Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding Collection Period as is necessary for preparation of the Servicer's Certificate. The Back-up Servicer shall use such computer diskette (or other electronic transmission) to verify the certain information specified in Section 4.15(b)(iii3.15(b) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Servicer shall certify to the Note Certificate Insurer that it has verified the Servicer's Certificate in accordance with this Section 4.15 3.15 and shall notify the Servicer, the Note Certificate Insurer and the Trust Collateral Agent Trustee of any discrepancies, in each case, on or before the related Deficiency Claim Date. In the event that the Back-up Servicer reports any discrepancies, the Servicer and the Back-up Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments distributions with respect to the related Payment Distribution Date. In the event that the Back-up Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Distribution Date, (i) the Back-up Up Servicer will notify the Note Certificate Insurer and the Trust Collateral AgentTrustee, and (ii) the Servicer shall cause a firm of independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Certificate Insurer (unless a Note an Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer -computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Certificate Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Holdings Corp)

Verification of Servicer's Certificate. (a) On or before Concurrently with the fifth Business Day delivery by the Servicer of the Servicer's Certificate each month, the Servicer will deliver to the Trust Collateral Agent Trustee and the Back-up Backup Servicer and each Note Purchaser a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent Trustee and the Back-up Backup Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding Collection Accrual Period as which information is necessary for preparation of the Servicer's Certificate. The Back-up Backup Servicer shall use such computer diskette (or other electronic transmission) to verify the certain information specified in Section 4.15(b)(iiiSECTION 4.14(b) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Backup Servicer shall certify to the Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 4.15 and shall notify the Servicer, the Note Insurer Purchasers and the Trust Collateral Agent Noteholders of any discrepancies, in each case, discrepancies on or before the related Deficiency Claim second Business Day following the Determination Date. In the event that the Back-up Backup Servicer reports any discrepancies, the Servicer and the Back-up Backup Servicer shall attempt to reconcile such discrepancies prior to by the related Deficiency Claim Settlement Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments distributions pursuant to clauses (i) through (xi) of Section 5.7(a) hereof and clauses (i) through (iii) of Section 5.7(b) hereof, in each case with respect to the related Payment Settlement Date. No payments shall be made to the Deposit Account pursuant to, clause (xii) of Section 5.7(a) hereof or clause (iv) of Section 5.7(b) hereof, in each case until any discrepancies shall have been reconciled. In the event that the Back-up Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Settlement Date, (i) the Back-up Backup Servicer will shall notify the Note Insurer Purchasers and the Trust Collateral Agent, Noteholders of such discrepancy in writing and (ii) the Servicer shall cause a firm of nationally recognized, independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following calendar month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Backup Servicer.

Appears in 1 contract

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

Verification of Servicer's Certificate. (a) On or before the fifth Business Day of each month, the Servicer will deliver to the Trust Collateral Agent and the Back-up Servicer a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent and the Back-up Servicer Computer Tape containing such information with respect to the Receivables as of the close of business on the last day of the immediately preceding Collection Period as is necessary for preparation of the Servicer's Certificate. The Back-up Servicer shall use such computer diskette (or other electronic transmission) Computer Tape to verify the information specified in Section 4.15(b)(iii7.07(b)(iii) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Servicer shall certify to the Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 4.15 7.07 and shall notify the Servicer, the Note Insurer and the Trust Collateral Agent of any discrepancies, in each case, on or before the related Deficiency Claim Determination Date. In the event that the Back-up Servicer reports any discrepancies, the Servicer and the Back-up Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments with respect to the related Payment Distribution Date. In the event that the Back-up Servicer and the Servicer are unable to reconcile [material] discrepancies with respect to a Servicer's Certificate by the related Payment Distribution Date, (i) the Back-up Servicer will notify the Note Insurer and the Trust Collateral Agent, and (ii) the Servicer shall cause a firm of independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Insurer (unless a Note an Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor therefore a computer tape Computer Tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer a format acceptable to the Back-up Servicer in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor therefore a copy of such other information as is reasonably requested by the Note Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Servicer shall have no liability for any actions taken or omitted by the ServicerServicer so long as it is not acting as such. The duties and obligations of the Back-up Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Servicer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (United Fidelity Finance LLC)

Verification of Servicer's Certificate. (a) On or before Concurrently with the fifth Business Day delivery by the Servicer of the Servicer's Certificate each month, the Servicer will deliver to the Trust Collateral Agent Trustee, the Standby Servicer and the Back-up Backup Servicer a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent Trustee, the Standby Servicer and the Back-up Backup Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding Collection Interest Period as which information is necessary for preparation of the Servicer's Certificate. The Back-up Standby Servicer shall use such computer diskette (or other electronic transmission) to verify the certain information specified in Section 4.15(b)(iiiSECTION 4.14(b) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Standby Servicer shall certify to the Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 4.15 and shall notify the Servicer, the Note Insurer Servicer and the Trust Collateral Agent Insurer of any discrepancies, in each case, discrepancies on or before the related Deficiency Claim second Business Day following the Determination Date. In the event that the Back-up Standby Servicer reports any discrepancies, the Servicer and the Back-up Standby Servicer shall attempt to reconcile such discrepancies prior to by the related Deficiency Claim Settlement Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments distributions with respect to the related Payment Settlement Date. In the event that the Back-up Standby Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Settlement Date, (i) the Back-up Standby Servicer will shall notify the Note Insurer and the Trust Collateral Agent, Agent thereof in writing and (ii) the Servicer shall cause a firm of independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following calendar month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Standby Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Standby Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Standby Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Standby Servicer.

Appears in 1 contract

Samples: Sale and Servicing (Consumer Portfolio Services Inc)

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Verification of Servicer's Certificate. (a) On or before the fifth Business Day calendar day of each month, the Servicer will deliver to the Trust Collateral Agent Trustee and the Back-up Standby Servicer a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent Trustee and the Back-up Standby Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding Collection Period as which information is necessary for preparation of the Servicer's Certificate. The Back-up Standby Servicer shall use such computer diskette (or other electronic transmission) to verify the certain information specified in Section 4.15(b)(iii4.13(b) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Standby Servicer shall certify to the Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 4.15 and shall notify the Servicer, the Note Insurer Servicer and the Trust Collateral Agent Credit Enhancer of any discrepancies, in each case, discrepancies on or before the related Deficiency Claim second Business Day following the Determination Date. In the event that the Back-up Standby Servicer reports any discrepancies, the Servicer and the Back-up Standby Servicer shall attempt to reconcile such discrepancies prior to the second Business Day prior to the related Deficiency Claim Payment Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments distributions with respect to the related Payment Date. In the event that the Back-up Standby Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Date, (i) the Back-up Servicer will notify the Note Insurer and the Trust Collateral Agent, and (ii) the Servicer shall cause a firm of independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Standby Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Standby Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Standby Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Standby Servicer.

Appears in 1 contract

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

Verification of Servicer's Certificate. (a) On or before Concurrently with the fifth Business Day delivery by the Servicer of the Servicer's Certificate each month, the Servicer will deliver to the Trust Collateral Agent Trustee and the Back-up Backup Servicer a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent Trustee and the Back-up Backup Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding Collection Accrual Period as which information is necessary for preparation of the Servicer's Certificate. The Back-up Backup Servicer shall use such computer diskette (or other electronic transmission) to verify the certain information specified in Section 4.15(b)(iii4.14(b) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Backup Servicer shall certify to the Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 4.15 and shall notify the Servicer, the Note Insurer Purchaser and the Trust Collateral Agent Noteholders of any discrepancies, in each case, discrepancies on or before the related Deficiency Claim second Business Day following the Determination Date. In the event that the Back-up Backup Servicer reports any discrepancies, the Servicer and the Back-up Backup Servicer shall attempt to reconcile such discrepancies prior to by the related Deficiency Claim Settlement Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments distributions with respect to the related Payment Settlement Date. No payments shall be made to the Issuer pursuant to clause (viii) of Section 5.7(a) hereof until any discrepancies shall have been reconciled. In the event that the Back-up Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Settlement Date, (i) the Back-up Backup Servicer will shall notify the Note Insurer Purchaser and the Trust Collateral Agent, Noteholders thereof in writing and (ii) the Servicer shall cause a firm of independent certified public accountantsIndependent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following calendar month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Backup Servicer.

Appears in 1 contract

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

Verification of Servicer's Certificate. (a) On or before Concurrently with the fifth Business Day delivery by the Servicer of the Servicer's Certificate each month, the Servicer will deliver to the Trust Collateral Agent Trustee and the Back-up Backup Servicer and the Note Purchaser a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent Trustee and the Back-up Backup Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding Collection Accrual Period as which information is necessary for preparation of the Servicer's Certificate. The Back-up Backup Servicer shall use such computer diskette (or other electronic transmission) to verify the certain information specified in Section 4.15(b)(iiiSECTION 4.14(B) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Backup Servicer shall certify to the Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 4.15 and shall notify the Servicer, the Note Insurer Purchaser and the Trust Collateral Agent Noteholders of any discrepancies, in each case, discrepancies on or before the related Deficiency Claim second Business Day following the Determination Date. In the event that the Back-up Backup Servicer reports any discrepancies, the Servicer and the Back-up Backup Servicer shall attempt to reconcile such discrepancies prior to by the related Deficiency Claim Settlement Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments distributions pursuant to clauses (i) through (vii) of Section 5.7(a) hereof with respect to the related Payment Settlement Date. No payments shall be made to the Issuer pursuant to, clause (viii) of Section 5.7(a) hereof until any discrepancies shall have been reconciled. In the event that the Back-up Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Settlement Date, (i) the Back-up Backup Servicer will shall notify the Note Insurer Purchaser and the Trust Collateral Agent, Noteholders thereof in writing and (ii) the Servicer shall cause a firm of nationally recognized, independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following calendar month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Backup Servicer.

Appears in 1 contract

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

Verification of Servicer's Certificate. (a) On or before the fifth fourth Business Day of each month, the Servicer will deliver to the Trust Collateral Agent Trustee and the Back-up Servicer a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent Trustee and the Back-up Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding Collection Period as is necessary for preparation of the Servicer's Certificate. The Back-up Servicer shall use such computer diskette (or other electronic transmission) to verify the certain information specified in Section 4.15(b)(iii3.15(b) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Servicer shall certify to the Note Certificate Insurer that it has verified the Servicer's Certificate in accordance with this Section 4.15 3.15 and shall notify the Servicer, [the Note Insurer Certificate Insurer] and the Trust Collateral Agent Trustee of any discrepancies, in each case, on or before the related Deficiency Claim Date. In the event that the Back-up Servicer reports any discrepancies, the Servicer and the Back-up Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments distributions with respect to the related Payment Distribution Date. In the event that the Back-up Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Distribution Date, (i) the Back-up Up Servicer will notify [the Note Insurer Certificate Insurer] and the Trust Collateral AgentTrustee, and (ii) the Servicer shall cause a firm of independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. [In addition, the Servicer shall, if so requested by the Note Certificate Insurer (unless a Note an Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Certificate Insurer for the purpose of reconciling such discrepancies. .] Other than the duties specifically set forth in this Agreement, the Back-up Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Acceptance Corp)

Verification of Servicer's Certificate. (aix) On or before the fifth Business Day of each month, the Servicer will deliver to the Trust Collateral Agent Trustee and the Back-up Servicer a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent Trustee and the Back-up Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding Collection Period as is necessary for preparation of the Servicer's Certificate. The Back-up Servicer shall use such computer diskette (or other electronic transmission) to verify the certain information specified in Section 4.15(b)(iii3.15(b) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Servicer shall certify to the Note Certificate Insurer that it has 50 verified the Servicer's Certificate in accordance with this Section 4.15 3.15 and shall notify the Servicer, the Note Certificate Insurer and the Trust Collateral Agent Trustee of any discrepancies, in each case, on or before the related Deficiency Claim Date. In the event that the Back-up Servicer reports any discrepancies, the Servicer and the Back-up Servicer shall attempt to reconcile such discrepancies prior to the related Deficiency Claim Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments distributions with respect to the related Payment Distribution Date. In the event that the Back-up Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Distribution Date, (i) the Back-up Up Servicer will notify the Note Certificate Insurer and the Trust Collateral AgentTrustee, and (ii) the Servicer shall cause a firm of independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Certificate Insurer (unless a Note an Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Certificate Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Holdings Corp)

Verification of Servicer's Certificate. (a) On or before Concurrently with the fifth Business Day delivery by the Servicer of the Servicer's Certificate each month, the Servicer will deliver to the Trust Collateral Agent Trustee and the Back-up Backup Servicer and each Note Purchaser a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent Trustee and the Back-up Backup Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding Collection Accrual Period as which information is necessary for preparation of the Servicer's Certificate. The Back-up Backup Servicer shall use such computer diskette (or other electronic transmission) to verify the certain information specified in Section 4.15(b)(iiiSECTION 4.14(b) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Backup Servicer shall certify to the Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 4.15 and shall notify the Servicer, the Note Insurer Purchasers and the Trust Collateral Agent Noteholders of any discrepancies, in each case, discrepancies on or before the related Deficiency Claim second Business Day following the Determination Date. In the event that the Back-up Backup Servicer reports any discrepancies, the Servicer and the Back-up Backup Servicer shall attempt to reconcile such discrepancies prior to by the related Deficiency Claim Settlement Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments distributions pursuant to clauses (i) through (xi) of Section 5.7(a) hereof and clauses (i) through (iii) of Section 5.7(b) hereof, in each case with respect to the related Payment Settlement Date. No payments shall be made to the Deposit Account pursuant to clause (xii) of Section 5.7(a) hereof or clause (iv) of Section 5.7(b) hereof, in each case until any discrepancies shall have been reconciled. In the event that the Back-up Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Settlement Date, (i) the Back-up Backup Servicer will shall notify the Note Insurer Purchasers and the Trust Collateral Agent, Noteholders of such discrepancy in writing and (ii) the Servicer shall cause a firm of independent certified public accountantsIndependent Accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following calendar month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Backup Servicer.

Appears in 1 contract

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

Verification of Servicer's Certificate. (a) On or before Concurrently with the fifth Business Day delivery by the Servicer of the Servicer's Certificate each month, the Servicer will deliver to the Trust Collateral Agent Trustee and the Back-up Backup Servicer a computer diskette (or other electronic transmission) in a format acceptable to the Trust Collateral Agent Trustee and the Back-up Backup Servicer containing such information with respect to the Receivables as of the close of business on the last day of the preceding Collection Interest Period as which information is necessary for preparation of the Servicer's Certificate. The Back-up Backup Servicer shall use such computer diskette (or other electronic transmission) to verify the certain information specified in Section 4.15(b)(iiiSECTION 4.14(b) contained in the Servicer's Certificate delivered by the Servicer, and the Back-up Backup Servicer shall certify to the Note Insurer that it has verified the Servicer's Certificate in accordance with this Section 4.15 and shall notify the Servicer, the Note Insurer Servicer and the Trust Collateral Agent Insurer of any discrepancies, in each case, discrepancies on or before the related Deficiency Claim second Business Day following the Determination Date. In the event that the Back-up Backup Servicer reports any discrepancies, the Servicer and the Back-up Backup Servicer shall attempt to reconcile such discrepancies prior to by the related Deficiency Claim Settlement Date, but in the absence of a reconciliation, the Servicer's Certificate shall control for the purpose of calculations and payments distributions with respect to the related Payment Settlement Date. In the event that the Back-up Backup Servicer and the Servicer are unable to reconcile discrepancies with respect to a Servicer's Certificate by the related Payment Settlement Date, (i) the Back-up Backup Servicer will shall notify the Note Insurer and the Trust Collateral Agent, Agent thereof in writing and (ii) the Servicer shall cause a firm of independent certified public accountants, at the Servicer's expense, to audit the Servicer's Certificate and, prior to the fifth calendar day of the following calendar month, reconcile the discrepancies. The effect, if any, of such reconciliation shall be reflected in the Servicer's Certificate for such next succeeding Determination Date. In addition, the Servicer shall, if so requested by the Note Insurer (unless a Note Insurer Default shall have occurred and be continuing) deliver to the Back-up Servicer (i) within five (5) Business Days of demand therefor a computer tape containing as of the close of business on the date of demand all of the data maintained by the Servicer in computer format in connection with servicing the Receivables and (ii) within fifteen (15) Business Days of demand therefor a copy of such other information as is reasonably requested by the Note Insurer for the purpose of reconciling such discrepancies. Other than the duties specifically set forth in this Agreement, the Back-up Backup Servicer shall have no obligations hereunder, including, without limitation, to supervise, verify, monitor or administer the performance of the Servicer. The Back-up Backup Servicer shall have no liability for any actions taken or omitted by the Servicer. The duties and obligations of the Back-up Backup Servicer shall be determined solely by the express provisions of this Agreement and no implied covenants or obligations shall be read into this Agreement against the Back-up Backup Servicer.

Appears in 1 contract

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

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