before April 30 of each
calendar year.
A copy of such reports may be obtained by any Noteholder by a
request in writing to the Indenture Trustee.
SECTION 9.05.
MONTHLY REPORTS TO NOTEHOLDERS AND THE SWAP COUNTERPARTY.
(A)
ON OR BEFORE TWO BUSINESS DAYS PRIOR TO EACH DISTRIBUTION DATE, THE
SERVICER SHALL PREPARE AND, CONCURRENTLY WITH EACH DISTRIBUTION TO NOTEHOLDERS
PURSUANT TO ARTICLE VII, DELIVER TO THE INDENTURE TRUSTEE, IN ITS CAPACITY AS
NOTE REGISTRAR AND PAYING AGENT, TO FORWARD OR OTHERWISE MAKE AVAILABLE VIA
INTERNET TO EACH NOTEHOLDER AND THE SWAP COUNTERPARTY A STATEMENT AS OF THE
RELATED DISTRIBUTION DATE SUBSTANTIALLY IN THE FORM OF EXHIBIT I HERETO (THE
"MONTHLY REPORT") SETTING FORTH AT LEAST THE FOLLOWING INFORMATION:
(I)
THE AMOUNT OF NOTEHOLDER'S PRINCIPAL DISTRIBUTION;
(II)
THE AMOUNT OF NOTEHOLDER'S INTEREST DISTRIBUTION;
(III)
THE AMOUNT OF FEES PAYABLE OUT OF THE TRUST, SEPARATELY
IDENTIFYING THE MONTHLY SERVICING FEE AND THE INDENTURE TRUSTEE FEE;
(IV)
THE AMOUNT OF ANY NOTE INTEREST CARRYOVER SHORTFALL AND NOTE
PRINCIPAL CARRYOVER SHORTFALL ON SUCH DISTRIBUTION DATE AND THE CHANGE IN SUCH
AMOUNTS FROM THOSE WITH RESPECT TO THE IMMEDIATELY PRECEDING DISTRIBUTION DATE;
(V)
THE NOTE POOL FACTOR FOR EACH CLASS OF NOTES, IN EACH CASE OF SUCH
DISTRIBUTION DATE;
(VI)
THE AMOUNT OF THE DISTRIBUTIONS DESCRIBED IN (I) OR (II) ABOVE
PAYABLE PURSUANT TO A CLAIM ON THE RESERVE FUND OR FROM ANY OTHER SOURCE NOT
CONSTITUTING AVAILABLE MONIES AND THE AMOUNT REMAINING IN THE RESERVE FUND AFTER
GIVING EFFECT TO ALL DEPOSITS AND WITHDRAWALS FROM THE RESERVE FUND ON SUCH
DATE;
(VII)
THE AMOUNT OF ANY NET SWAP PAYMENTS AND NET SWAP RECEIPTS;
(VIII)
THE AMOUNT OF ANY UNPAID SENIOR SWAP TERMINATION PAYMENT AND
SUBORDINATED SWAP TERMINATION PAYMENT;
(IX)
LIBOR FOR SUCH DISTRIBUTION DATE AND THE INTEREST RATE ON EACH
CLASS OF FLOATING RATE NOTES;
(X)
THE REMAINING PRINCIPAL BALANCE AFTER GIVING EFFECT TO THE
DISTRIBUTION OF PRINCIPAL TO EACH CLASS OF NOTES TO BE MADE ON SUCH DISTRIBUTION
DATE;
(XI)
THE NUMBER AND AGGREGATE PRINCIPAL BALANCE OF CONTRACTS DELINQUENT
30-59 DAYS, 60-89 DAYS AND 90 OR MORE DAYS, COMPUTED AS OF THE END OF THE
RELATED DUE PERIOD;
(XII)
THE NUMBER AND AGGREGATE PRINCIPAL BALANCE OF CONTRACTS THAT BECAME
LIQUIDATED CONTRACTS DURING THE IMMEDIATELY PRECEDING DUE PERIOD, THE NET
LIQUIDATION PROCEEDS AND THE NET LIQUIDATION LOSSES FOR SUCH DUE PERIOD;
49
(XIII)
THE LOSS RATIO, AVERAGE LOSS RATIO, CUMULATIVE LOSS RATIO, THE
DELINQUENCY RATIO AND THE AVERAGE DELINQUENCY RATIO AS OF SUCH DISTRIBUTION
DATE;
(XIV)
THE NUMBER OF CONTRACTS AND THE AGGREGATE PRINCIPAL BALANCE OF SUCH
CONTRACTS, AS OF THE FIRST DAY OF THE DUE PERIOD RELATING TO SUCH DISTRIBUTION
DATE (AFTER GIVING EFFECT TO PAYMENTS RECEIVED DURING SUCH DUE PERIOD);
(XV)
THE AGGREGATE PRINCIPAL BALANCE AND NUMBER OF CONTRACTS THAT WERE
REACQUIRED BY THE SELLER PURSUANT TO THE AGREEMENT WITH RESPECT TO THE RELATED
DUE PERIOD, IDENTIFYING THE PURCHASE PRICE FOR SUCH CONTRACTS;
(XVI)
THE AGGREGATE PRINCIPAL BALANCE AND NUMBER OF CONTRACTS THAT WERE
PURCHASED BY THE SERVICER PURSUANT TO