Attached files
file | filename |
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10-K - FORM 10-K - FIRST NATIONAL FUNDING LLC | c57265e10vk.htm |
EX-35.2 - EX-35.2 - FIRST NATIONAL FUNDING LLC | c57265exv35w2.htm |
EX-23.1 - EX-23.1 - FIRST NATIONAL FUNDING LLC | c57265exv23w1.htm |
EX-34.2 - EX-34.2 - FIRST NATIONAL FUNDING LLC | c57265exv34w2.htm |
EX-34.1 - EX-34.1 - FIRST NATIONAL FUNDING LLC | c57265exv34w1.htm |
EX-33.1 - EX-33.1 - FIRST NATIONAL FUNDING LLC | c57265exv33w1.htm |
EX-31.1 - EX-31.1 - FIRST NATIONAL FUNDING LLC | c57265exv31w1.htm |
EX-35.1 - EX-35.1 - FIRST NATIONAL FUNDING LLC | c57265exv35w1.htm |
EX-34.3 - EX-34.3 - FIRST NATIONAL FUNDING LLC | c57265exv34w3.htm |
EX-33.2 - EX-33.2 - FIRST NATIONAL FUNDING LLC | c57265exv33w2.htm |
EXHIBIT 33.3
ASSERTION OF COMPLIANCE WITH
APPLICABLE SERVICING CRITERIA
APPLICABLE SERVICING CRITERIA
The Bank of New York Mellon (formerly The Bank of New York), BNY Mellon Trust of Delaware (formerly
BNYM (Delaware)) and The Bank of New York Mellon Trust Company, N.A. (formerly The Bank of New York
Trust Company, N.A.), (collectively, the Company) provides this platform-level assessment of
compliance with the servicing criteria specified in Item 1122(d) of Regulation AB promulgated by
the Securities and Exchange Commission. Management has determined that the servicing criteria are
applicable in regard to the servicing platform as of and for the period as follows:
Platform: Publicly-issued (i.e., transaction-level reporting initially required under the
Securities Exchange Act of 1934, as amended) asset-backed securities issued on or after January 1,
2006 and like-kind transactions issued prior to January 1, 2006 that comply with Regulation AB for
which the Company provides trustee, securities administration or paying agent services, as defined
and to the extent applicable in the transaction agreements, other than residential mortgage-backed
securities and other mortgage-related asset-backed securities.
Period: Twelve months ended December 31, 2009 (the Period).
Applicable Servicing Criteria: All servicing criteria set forth in Item 1122(d), to the
extent required by the related transaction agreements as to any transaction, except as set forth in
the column titled Not Applicable To Platform in Appendix 1 attached hereto.
With respect to applicable servicing criteria 1122(d)(2)(iii) and 1122(d)(4)(vii), there were
no activities performed during the Period with respect to the Platform, because there were no
occurrences of events that would require the Company to perform such activities.
With respect to servicing criteria 1122(d)(2)(vi) management has engaged a vendor to perform
the activities required by these servicing criteria. Management has determined that this vendor is
not considered a servicer as defined in Item 1101(j) of Regulation AB, and management has elected
to take responsibility for assessing compliance with the servicing criteria applicable to this
vendor as permitted by Interpretation 17.06 of the SEC Division of Corporation Finance Manual of
Publicly Available Telephone Interpretations (Interpretation 17.06). Management has policies and
procedures in place designed to provide reasonable assurance that the vendors activities comply in
all material respects with the servicing criteria applicable to the vendor. Management is solely
responsible for determining that it meets the SEC requirements to apply Interpretation 17.06 for
the vendor and related criteria.
With respect to the Platform and the Period, the Company provides the following assessment of
compliance in respect of the Applicable Servicing Criteria:
1. The Company is responsible for assessing its compliance with the Applicable Servicing Criteria.
2. The Company has assessed compliance with the Applicable Servicing Criteria including servicing
criteria for which compliance is determined based on Interpretation 17.06 as described above. In
performing this assessment, management used the criteria set forth by the Securities and Exchange
Commission in paragraph (d) of Item 1122 of Regulation AB.
3. Based on such assessment, as of and for the Period, the Company has complied, in all material
respects, with the Applicable Servicing Criteria other than as identified on Schedule A attached.
KPMG LLP, an independent registered public accounting firm, has issued an attestation report with
respect to the Companys compliance with the Applicable Servicing Criteria as of and for the
Period.
The Bank of New York Mellon The Bank of New York Mellon Trust Company, N.A. BNY Mellon Trust of Delaware |
The Bank of New York Mellon The Bank of New York Mellon Trust Company, N.A. |
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/s/ Robert L. Griffin
Authorized Officer |
/s/ Patrick J. Tadie
Authorized Officer |
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The Bank of New York Mellon The Bank of New York Mellon Trust Company, N.A. |
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/s/ Troy L. Kilpatrick
Authorized Officer |
Dated: February 25, 2010
Schedule A
Material Instances of Non-Compliance by the Company
1122(d)(2)(i): Payments on pool assets are deposited into the appropriate custodial bank accounts
and related bank clearing accounts no more than two business days of receipt, or such other number
of days specified in the transaction agreements.
During the reporting period, certain payments on pool assets were not deposited into the
appropriate segregated custodial bank account within the time frame required by the related
transaction documents.
The segregated account for each specified series of securities was in existence prior to the
time the deposits were to be made into such account but such account was not utilized in all
instances by the Trustee as stated above. However, payments related to each specified series of
securities were timely remitted to the investors in such series.
Existing procedures have been reviewed with staff to enable future payments to be deposited into
the segregated account for each specified series within the applicable time frames.