HTZ » Topics » 20.3 Reports

This excerpt taken from the HTZ 10-K filed Feb 29, 2008.

20.3                           Reports


(a)                                  Subject to paragraph (b) below, the Coordinator shall on each Reporting Date provide to the Facility Agent (with a copy to the Security Agent) the relevant Asset Report specifying the position as at the immediately preceding Calculation Date, accompanied with, if and to the extent necessary, an original copy of such relevant document(s) required (if any) by the Receivables Charges or the Designated Obligor Re-Charges and a copy of the Designated Obligor Charges (in each case, if existing and not already provided), as applicable, in respect of the Eligible Receivables of such Borrower, it being agreed that in accordance with applicable laws and the terms of the relevant Receivables Charge or Designated Obligor Charge and related Designated Obligor Re-Charge, as applicable, any required identification or specification of the receivables and Eligible Receivables which are the subject of the Receivables Charge or Designated Obligor Charge and related Designated Obligor Re-Charge, as the case may be, (as well as any ancillary documents pertaining thereto) may be made by way of any appropriate computerised data processing or storage systems as described in the Receivables Charge or Designated Obligor Charge, and if such delivery is made no Borrower shall be required to draw up any paper-based list of those receivables in connection with the delivery of any Asset Report under any Facility.


(b)                                 Unless a C Borrower requires a C Advance to be made on the Settlement Date relating to any First Calculation Date occurring after the Closing Date, the Coordinator shall not be required to deliver the relevant Asset Report on the Reporting Date relating to such First Calculation Date.




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