Extract to table

SBF, in its capacity as servicer under the Sale and Servicing Agreement, bears overall oversight responsibility for the sub-servicer's performance and is required to conduct quarterly data reconciliation against Clearview's sub-servicing records

This off-the-top deduction ensures that the sub-servicer's compensation is not subordinated to any other claim (other than the deduction itself), which is a standard structural feature in securitization transactions and is required to maintain Clearview's economic incentive to continue servicing the receivables in accordance with its contractual obligations

However, the Residual Interest is a structural feature of the capital structure rather than a funded overcollateralization account, and the OC target of $7,000,000 represents an additional requirement that must be built through the accumulation of excess spread in the overcollateralization account

The initial overcollateralization level at closing is therefore zero in the funded overcollateralization account, and the OC target of $7,000,000 must be built from excess spread over the first several payment periods following the closing date

This OC floor represents the minimum level of funded overcollateralization that must be maintained at all times, even after step-down

If Available Funds (after deduction of the servicing fee and trustee/administrative fees) are insufficient to pay all accrued and unpaid interest on the Class A Notes in full, the indenture trustee shall draw upon the reserve account to cover the Class A interest shortfall