IN AN EFFORT TO
MAXIMIZE COLLECTIONS THEREON.
SECTION 5.03.
RECORDS.
THE SERVICER
SHALL, DURING THE PERIOD IT IS SERVICER HEREUNDER, MAINTAIN SUCH BOOKS OF
ACCOUNT AND OTHER RECORDS AS WILL ENABLE THE OWNER TRUSTEE AND THE INDENTURE
TRUSTEE TO DETERMINE THE STATUS OF EACH CONTRACT.
SECTION 5.04.
INSPECTION.
(A) AT ALL
TIMES DURING THE TERM HEREOF, THE SERVICER SHALL AFFORD THE OWNER TRUSTEE AND
THE INDENTURE TRUSTEE AND THEIR RESPECTIVE AUTHORIZED AGENTS REASONABLE ACCESS
DURING NORMAL BUSINESS HOURS TO THE SERVICER'S RECORDS RELATING TO THE CONTRACTS
AND WILL CAUSE ITS PERSONNEL TO ASSIST IN ANY EXAMINATION OF SUCH RECORDS BY THE
OWNER TRUSTEE OR THE INDENTURE TRUSTEE, OR SUCH AUTHORIZED AGENTS AND ALLOW
COPIES OF THE SAME TO BE MADE.
THE EXAMINATION REFERRED TO IN THIS SECTION WILL
BE CONDUCTED IN A MANNER WHICH DOES NOT UNREASONABLY INTERFERE WITH THE
SERVICER'S NORMAL OPERATIONS OR CUSTOMER OR EMPLOYEE RELATIONS.
WITHOUT
OTHERWISE LIMITING THE SCOPE OF THE EXAMINATION THE OWNER TRUSTEE OR THE
INDENTURE TRUSTEE MAY, USING GENERALLY ACCEPTED AUDIT PROCEDURES, VERIFY THE
STATUS OF EACH CONTRACT AND REVIEW THE COMPUTER FILE AND RECORDS RELATING
THERETO FOR CONFORMITY TO MONTHLY REPORTS PREPARED PURSUANT TO ARTICLE IX AND
COMPLIANCE WITH THE STANDARDS REPRESENTED TO EXIST AS TO EACH CONTRACT IN THIS
AGREEMENT.
(b)
At all times during the term hereof, the
Servicer shall keep available a copy of the List of Contracts at its principal
executive office for inspection by the Trustees.
SECTION 5.05.
TRUST ACCOUNTS.
(A) ON
OR BEFORE THE CLOSING DATE, THE TRUST DEPOSITOR SHALL ESTABLISH THE TRUST
ACCOUNTS, EACH WITH AND IN THE NAME OF THE INDENTURE TRUSTEE FOR THE BENEFIT OF
THE NOTEHOLDERS.
THE INDENTURE TRUSTEE IS HEREBY REQUIRED TO ENSURE THAT EACH
OF THE TRUST ACCOUNTS IS ESTABLISHED AND MAINTAINED AS AN ELIGIBLE ACCOUNT.
(b)
The Indenture Trustee shall deposit (or the
Servicer shall deposit, with respect to payments by or on behalf of the Obligors
received directly by the Servicer), without deposit into
33
any intervening account, into the Collection Account as promptly as practical
(but in any case not later than the second Business Day following the receipt
thereof):
(i)
With respect to principal and interest
on the Contracts received after the Initial Cutoff Date or Subsequent Cutoff
Date, as applicable (which for the purpose of this paragraph (b)(i) shall
include those monies in the Lockbox Account allocable to principal and interest
on the Contracts), all such amounts received by the Owner Trustee or Servicer;
(ii)
All Net Liquidation Proceeds related to
the Contracts;
(iii)
The aggregate of the Reacquisition Prices
for Contracts reacquired by the Trust Depositor as described in Section 7.08;
(iv)
All Advances made by the Servicer pursuant to
Section 7.03(a);
(v)
All amounts paid by the Trust Depositor in
connection with an optional reacquisition of the Contracts described in
Section 7.10;
(vi)
All amounts realized in respect of Carrying
Charges transferred from the Interest Reserve Account as contemplated in
Section 7.03(b); and
(vii)
All amounts received in respect of interest,
dividends,