obligation in any material respect, specifying each such failure known to
such officer and the nature and status of such failure.
(b)
If the Trust is not required to file periodic reports under the
Exchange Act, or otherwise required by law to file the reports described in
clause (a) above, such reports may be delivered on or 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, SHALL CAUSE TO BE DELIVERED AND MAILED TO EACH
NOTEHOLDER AT THE ADDRESSES APPEARING ON THE NOTE REGISTER 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 YIELD SUPPLEMENT WITHDRAWAL AMOUNT AND THE AMOUNT REMAINING IN
THE YIELD SUPPLEMENT ACCOUNT AFTER GIVING EFFECT TO ALL WITHDRAWALS FROM THE
YIELD SUPPLEMENT ACCOUNT ON SUCH DATE;
(VIII)
THE AMOUNT OF ANY NET SWAP PAYMENTS AND NET SWAP RECEIPTS;
(IX)
THE AMOUNT OF ANY UNPAID SENIOR SWAP TERMINATION PAYMENT AND
SUBORDINATED SWAP TERMINATION PAYMENT;
53
(X)
LIBOR FOR SUCH DISTRIBUTION DATE AND THE INTEREST RATE ON EACH
CLASS OF FLOATING RATE NOTES;
(XI)
THE REMAINING PRINCIPAL BALANCE AFTER GIVING EFFECT TO THE
DISTRIBUTION OF PRINCIPAL TO EACH CLASS OF NOTES TO BE MADE ON SUCH DISTRIBUTION
DATE;
(XII)
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;
(XIII)
THE NUMBER AND AGGREGATE PRINCIPAL BALANCE OF CONTRACTS THAT BECAME
LIQUIDATED CONTRACTS DURING THE IMMEDIATELY PRECEDING DUE PERIOD, THE AMOUNT OF
LIQUIDATION PROCEEDS FOR SUCH DUE PERIOD, THE AMOUNT OF LIQUIDATION EXPENSES
BEING DEDUCTED FROM LIQUIDATION PROCEEDS FOR SUCH DUE PERIOD, THE NET
LIQUIDATION PROCEEDS AND THE NET