Attached files
file | filename |
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10-K - Honda Auto Receivables 2009-2 Owner Trust | v189312_10k.htm |
EX-3.1 - Honda Auto Receivables 2009-2 Owner Trust | v189312_ex3-1.htm |
EX-3.2 - Honda Auto Receivables 2009-2 Owner Trust | v189312_ex3-2.htm |
EX-35.2 - Honda Auto Receivables 2009-2 Owner Trust | v189312_ex35-2.htm |
EX-33.3 - Honda Auto Receivables 2009-2 Owner Trust | v189312_ex33-3.htm |
EX-34.1 - Honda Auto Receivables 2009-2 Owner Trust | v189312_ex34-1.htm |
EX-34.2 - Honda Auto Receivables 2009-2 Owner Trust | v189312_ex34-2.htm |
EX-34.3 - Honda Auto Receivables 2009-2 Owner Trust | v189312_ex34-3.htm |
EX-31.1 - Honda Auto Receivables 2009-2 Owner Trust | v189312_ex31-1.htm |
EX-33.1 - Honda Auto Receivables 2009-2 Owner Trust | v189312_ex33-1.htm |
EX-35.1 - Honda Auto Receivables 2009-2 Owner Trust | v189312_ex35-1.htm |
Exhibit
33.2
Management’s
Assertion
Report
on Compliance with Applicable Servicing Criteria Pursuant to Item 1122 of
Regulation AB
under
the Securities Exchange Act of 1934
FDI
Computer Consulting, Inc. (the “Company”), dba FDI Collateral Management, as a
party participating in the servicing functions for the following
transactions:
Honda
Auto Receivables 2009-2 Owner Trust
Honda
Auto Receivables 2009-3 Owner Trust
Honda
Auto Receivables 2010-1 Owner Trust
hereby
provides the following report on its assessment of compliance with the servicing
criteria set forth in Item 1122(d) of Regulation AB applicable to it and as
described on Exhibit
A hereto (the “Applicable Servicing Criteria”):
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1.
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the
Company is responsible for assessing its compliance with the Applicable
Servicing Criteria;
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2.
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the
Company used the criteria set forth in paragraph (d) of Item 1122 of
Regulation AB to assess its compliance with the Applicable Servicing
Criteria;
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3.
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the
Company’s assessment of its compliance with the Applicable Servicing
Criteria is as of and for the period beginning April 1, 2009 and ended
March 31, 2010, the end of the fiscal year covered by the Form 10-K report
and the Company’s participation in the servicing function complied in all
material respects with the Applicable Servicing Criteria during these
periods; and
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4.
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McGladrey
& Pullen, LLP, a registered public accounting firm, has issued an
attestation report on the Company’s assessment of compliance with the
Applicable Servicing Criteria as of and for the period beginning April 1,
2009 and ended March 31, 2010, the end of the fiscal year covered by the
Form 10-K report.
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FDI
COMPUTER CONSULTING, INC.
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/s/ Tony Panganiban
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Name:
Tony Panganiban
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Title: Vice
President of Finance
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Dated:
May 27, 2010
Exhibit
A
Regulation
AB § 229.1122(d) (Item 1122(d)) Servicing Criteria.
Regulation
AB
Reference
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Servicing
criteria
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Applicable
Servicing
Criteria
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Additional
Information
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1122(d)(1)
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General servicing
considerations.
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1122(d)(1)(i)
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Policies
and procedures are instituted to monitor any performance or other triggers
and events of default in accordance with the transaction
agreements.
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Applicable.
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1122(d)(1)(ii)
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If
any material servicing activities are outsourced to third parties,
policies and procedures are instituted to monitor the third party’s
performance and compliance with such servicing activities.
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Not
applicable.
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1122(d)(1)(iii)
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Any
requirements in the transaction agreements to maintain a back-up servicer
for the pool assets are maintained.
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Not
applicable
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1122(d)(1)(iv)
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A
fidelity bond and errors and omissions policy is in effect on the party
participating in the servicing function throughout the reporting period in
the amount of coverage required by and otherwise in accordance with the
terms of the transaction agreements.
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Not
Applicable.
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Cash collection and
administration.
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1122(d)(2)(i)
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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.
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Not
applicable.
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1122(d)(2)(ii)
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Disbursements
made via wire transfer on behalf of an obligor or to an investor are made
only by authorized personnel.
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Not
applicable.
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Regulation
AB
Reference
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Servicing
criteria
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Applicable
Servicing
Criteria
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Additional
Information
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1122(d)(2)(iii)
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Advances
of funds or guarantees regarding collections, cash flows or distributions,
and any interest or other fees charged for such advances, are made,
reviewed and approved as specified in the transaction
agreements.
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Not
applicable.
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1122(d)(2)(iv)
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The
related accounts for the transaction, such as cash reserve accounts or
accounts established as a form of overcollateralization, are separately
maintained (e.g.,
with respect to commingling of cash) as set forth in the transaction
agreements.
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Not
applicable.
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1122(d)(2)(v)
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Each
custodial account is maintained at a federally insured depository
institution as set forth in the transaction agreements. For purposes of
this criterion, “federally insured depository institution” with respect to
a foreign financial institution means a foreign financial institution that
meets the requirements of § 240.13k-1(b)(1) of this
chapter.
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Not
applicable.
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1122(d)(2)(vi)
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Unissued
checks are safeguarded so as to prevent unauthorized
access.
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Not
applicable.
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1122(d)(2)(vii)
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Reconciliations
are prepared on a monthly basis for all asset-backed securities related
bank accounts, including custodial accounts and related bank clearing
accounts. These reconciliations:
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Not
applicable.
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1122(d)(2)(vii)(A)
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Are
mathematically accurate;
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Not
applicable.
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1122(d)(2)(vii)(B)
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Are
prepared within 30 calendar days after the bank statement cutoff date, or
such other number of days specified in the transaction
agreements;
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Not
applicable.
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Regulation
AB
Reference
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Servicing
criteria
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Applicable
Servicing
Criteria
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Additional
Information
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1122(d)(2)(vii)(C)
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Are
reviewed and approved by someone other than the person who prepared the
reconciliation; and
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Not
applicable.
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1122(d)(2)(vii)(D)
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Contain
explanations for reconciling items. These reconciling items are resolved
within 90 calendar days of their original identification, or such other
number of days specified in the transaction agreements.
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Not
applicable.
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Investor remittances and
reporting.
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1122(d)(3)(i)
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Reports
to investors, including those to be filed with the Commission, are
maintained in accordance with the transaction agreements and applicable
Commission requirements. Specifically, such reports:
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Not
applicable.
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1122(d)(3)(i)(A)
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Are
prepared in accordance with timeframes and other terms set forth in the
transaction agreements;
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Not
applicable.
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1122(d)(3)(i)(B)
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Provide
information calculated in accordance with the terms specified in the
transaction agreements;
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Not
applicable
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1122(d)(3)(i)(C)
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Are
filed with the Commission as required by its rules and regulations;
and
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Not
applicable.
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1122(d)(3)(i)(D)
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Agree
with investors’ or the trustee’s records as to the total unpaid principal
balance and number of pool assets serviced by the
servicer.
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Not
applicable.
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1122(d)(3)(ii)
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Amounts
due to investors are allocated and remitted in accordance with timeframes,
distribution priority and other terms set forth in the transaction
agreements.
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Not
applicable.
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1122(d)(3)(iii)
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Disbursements
made to an investor are posted within two business days to the servicer’s
investor records, or such other number of days specified in the
transaction agreements.
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Not
applicable.
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Regulation
AB
Reference
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Servicing
criteria
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Applicable
Servicing
Criteria
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Additional
Information
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1122(d)(3)(iv)
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Amounts
remitted to investors per the investor reports agree with cancelled
checks, or other form of payment, or custodial bank
statements.
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Not
applicable.
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Pool asset
administration.
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1122(d)(4)(i)
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Collateral
or security on pool assets is maintained as required by the transaction
agreements or related pool asset documents.
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Applicable.
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1122(d)(4)(ii)
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Pool
assets and related documents are safeguarded as required by the
transaction agreements.
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Applicable.
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1122(d)(4)(iii)
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Any
additions, removals or substitutions to the asset pool are made, reviewed
and approved in accordance with any conditions or requirements in the
transaction agreements.
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Not
applicable.
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1122(d)(4)(iv)
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Payments
on pool assets, including any payoffs, made in accordance with the related
pool asset documents are posted to the applicable servicer’s obligor
records maintained no more than two business days after receipt, or such
other number of days specified in the transaction agreements, and
allocated to principal, interest or other items (e.g., escrow) in
accordance with the related pool asset documents.
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Not
applicable.
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1122(d)(4)(v)
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The
servicer’s records regarding the pool assets agree with the servicer’s
records with respect to an obligor’s unpaid principal
balance.
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Not
applicable.
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1122(d)(4)(vi)
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Changes
with respect to the terms or status of an obligor’s pool asset (e.g., loan
modifications or re-agings) are made, reviewed and approved by authorized
personnel in accordance with the transaction agreements and related pool
asset documents.
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Not
applicable.
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Regulation
AB
Reference
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Servicing
criteria
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Applicable
Servicing
Criteria
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Additional
Information
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1122(d)(4)(vii)
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Loss
mitigation or recovery actions (e.g., forbearance
plans, modifications and deeds in lieu of foreclosure, foreclosures and
repossessions, as applicable) are initiated, conducted and concluded in
accordance with the timeframes or other requirements established by the
transaction agreements.
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Not
applicable.
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1122(d)(4)(viii)
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Records
documenting collection efforts are maintained during the period a pool
asset is delinquent in accordance with the transaction agreements. Such
records are maintained on at least a monthly basis, or such other period
specified in the transaction agreements, and describe the entity’s
activities in monitoring delinquent pool assets including, for example,
phone calls, letters and payment rescheduling plans in cases where
delinquency is deemed temporary (e.g., illness or
unemployment).
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Not
applicable.
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1122(d)(4)(ix)
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Adjustments
to interest rates or rates of return for pool assets with variable rates
are computed based on the related pool asset documents.
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Not
applicable.
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1122(d)(4)(x)
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Regarding
any funds held in trust for an obligor (such as escrow
accounts):
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Not
applicable.
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1122(d)(4)(x)(A)
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Such
funds are analyzed, in accordance with the obligor’s pool asset documents,
on at least an annual basis, or such other period specified in the
transaction agreements;
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Not
applicable.
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1122(d)(4)(x)(B)
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Interest
on such funds is paid, or credited, to obligors in accordance with
applicable pool asset documents and state laws; and
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Not
applicable.
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Regulation
AB
Reference
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Servicing
criteria
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Applicable
Servicing
Criteria
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Additional
Information
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1122(d)(4)(x)(C)
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Such
funds are returned to the obligor within 30 calendar days of full
repayment of the related pool asset, or such other number of days
specified in the transaction agreements.
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Not
applicable.
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1122(d)(4)(xi)
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Payments
made on behalf of an obligor (such as tax or insurance payments) are made
on or before the related penalty or expiration dates, as indicated on the
appropriate bills or notices for such payments, provided that such support
has been received by the servicer at least 30 calendar days prior to these
dates, or such other number of days specified in the transaction
agreements.
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Not
applicable.
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1122(d)(4)(xii)
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Any
late payment penalties in connection with any payment to be made on behalf
of an obligor are paid from the servicer’s funds and not charged to the
obligor, unless the late payment was due to the obligor’s error or
omission.
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Not
applicable.
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1122(d)(4)(xiii)
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Disbursements
made on behalf of an obligor are posted within two business days to the
obligor’s records maintained by the servicer, or such other number of days
specified in the transaction agreements.
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Not
applicable.
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1122(d)(4)(xiv)
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Delinquencies,
charge-offs and uncollectable accounts are recognized and recorded in
accordance with the transaction agreements.
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Not
applicable.
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1122(d)(4)(xv)
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Any
external enhancement or other support, identified in Item 1114(a)(1)
through (3) or Item 1115 of this Regulation AB, is maintained as set forth
in the transaction agreements.
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Not
applicable.
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