Examples of Asset Monitor in a sentence
Subject to Clauses 3.4 and 3.6 and after the service of a Notice to Pay, the Asset Monitor shall by no later than ten (10) Business Days following the receipt of the relevant information to be provided to it pursuant to Clause 4, test the arithmetic accuracy of the calculations performed by the CBC (or the Administrator on its behalf) in relation to the Amortisation Test on each Calculation Date, with a view to confirmation of the accuracy or otherwise of such calculations.
The fee per Amortisation Test shall be agreed between the CBC and the Asset Monitor in the event the Amortisation Test is required to be carried out.
The Asset Monitor is not required to test the arithmetic accuracy of α, β, the Current Balance and the Indexed Valuation for each Mortgage Receivable as well as the accuracy of the Asset Percentage and the LTV Cut-Off Percentage and/or any other parameters used in the Asset Cover Test.
Following such notification, and within three (3) Business Days of receipt of such notification, the CBC (or the Administrator on its behalf) shall provide such further or amended information to the Asset Monitor as is necessary to remedy such Manifest Error or Manifest Errors or shall confirm the accuracy of the information provided in accordance with Clause 4.
By no later than five (5) Business Days following the receipt of such further or amended information or confirmation, the Asset Monitor shall test the arithmetic accuracy of the relevant calculations and shall notify the CBC, the Administrator, the Security Trustee and the Issuer of the results of its tests in accordance with Clause 3.5.