WHETHER THE AMOUNT ON DEPOSIT
IS SUFFICIENT TO PAY SUCH DISTRIBUTION AMOUNTS; AND
(III)
DETERMINE THE AMOUNT ON DEPOSIT IN THE
RESERVE ACCOUNT.
(C)
NO LATER THAN EACH PAYMENT DATE, THE
BACK-UP SERVICER SHALL LOAD THE COMPUTER TAPE OR DISKETTE RECEIVED FROM THE
SERVICER PURSUANT TO SECTION 2.02(F) HEREOF, AND CONFIRM THAT SUCH COMPUTER TAPE
OR DISKETTE IS IN READABLE FORM AND CALCULATE AND CONFIRM THE AGGREGATE
PRINCIPAL BALANCE OF CONTRACTS AS OF THE MOST RECENT PAYMENT DATE.
In addition, the Back-up Servicer shall confirm that the Delinquency Ratio, the
average Delinquency Ratio for any three Collection Periods and the Cumulative
Net Loss Rate as set forth in the Monthly Servicer Report, are accurate based
solely on a comparison to the computer tape referred to above.
(D)
IN THE EVENT OF ANY DISCREPANCY BETWEEN THE
INFORMATION SET FORTH IN SUBPARAGRAPHS (B) AND (C), AS CALCULATED BY THE
SERVICER, FROM THAT DETERMINED OR CALCULATED BY THE BACK-UP SERVICER, THE
BACK-UP SERVICER SHALL PROMPTLY NOTIFY THE SERVICER, THE INDENTURE TRUSTEE, AND
THE INSURER OF SUCH DISCREPANCY. IF WITHIN TEN DAYS OF SUCH NOTICE BEING
PROVIDED TO THE SERVICER, THE BACK-UP SERVICER AND THE SERVICER ARE UNABLE TO
RESOLVE SUCH DISCREPANCY, THE BACK-UP SERVICER SHALL PROMPTLY NOTIFY THE RATING
AGENCIES, THE INSURER, THE INDENTURE TRUSTEE AND ANY OTHER PERSONS IDENTIFIED ON
A LIST PROVIDED TO THE BACK-UP SERVICER, AS SUCH LIST MAY BE AMENDED FROM TIME
TO TIME, OF SUCH DISCREPANCY.
(E)
OTHER THAN AS SPECIFICALLY SET FORTH
ELSEWHERE IN THIS SERVICING AGREEMENT, THE BACK-UP SERVICER SHALL HAVE NO
OBLIGATION TO SUPERVISE, VERIFY, MONITOR OR ADMINISTER THE PERFORMANCE OF THE
SERVICER AND SHALL HAVE NO LIABILITY FOR ANY ACTION TAKEN OR OMITTED BY THE
SERVICER.
(F)
THE BACK-UP SERVICER SHALL CONSULT FULLY
WITH THE SERVICER AS MAY BE NECESSARY FROM TIME TO TIME TO PERFORM OR CARRY OUT
THE BACK-UP SERVICER'S OBLIGATIONS HEREUNDER, INCLUDING THE OBLIGATION, IF
REQUESTED BY THE INSURER, TO SUCCEED AT ANY TIME TO THE DUTIES AND OBLIGATIONS
OF THE SERVICER AS SERVICER UNDER SECTION 5.02 HEREOF.
2.24.
ASSUMPTION OF DUTIES BY BACK-UP SERVICER.
AT ANY
TIME FOLLOWING THE ASSUMPTION OF DUTIES OF THE SERVICER BY THE BACK-UP SERVICER
OR THE DESIGNATION OF A SUCCESSOR SERVICER PURSUANT TO SECTION 2.01(C), THE
SERVICER SHALL, AT THE INDENTURE TRUSTEE'S OR THE INSURER'S REQUEST,
(A) ASSEMBLE ALL OF THE RECORDS RELATING TO THE COLLATERAL INCLUDING ALL
CONTRACT FILES, AND SHALL MAKE THE SAME AVAILABLE TO THE INDENTURE TRUSTEE AND
THE INSURER AT A PLACE SELECTED BY THE INDENTURE TRUSTEE AND THE INSURER OR ITS
DESIGNEE, AND (B) SEGREGATE ALL CASH, CHECKS AND OTHER INSTRUMENTS RECEIVED BY
IT FROM TIME TO TIME CONSTITUTING COLLECTIONS OF COLLATERAL IN A MANNER
ACCEPTABLE TO THE INDENTURE TRUSTEE AND THE INSURER AND SHALL PROMPTLY UPON
RECEIPT BUT NO LATER THAN TWO BUSINESS DAYS AFTER RECEIPT, REMIT ALL SUCH CASH,
CHECKS AND INSTRUMENTS, DULY ENDORSED
20
OR WITH DULY EXECUTED INSTRUMENTS OF TRANSFER, TO THE LOCKBOX ACCOUNT MAINTAINED
BY THE LOCKBOX BANK OR ITS DESIGNEE.
2.25.
ERRORS AND