Extract to table

Margin calls must be delivered in writing (including by electronic mail) by the Administrative Agent to the Seller

C&H recommends accepting the concept of a MAC-based margin call trigger but imposing the following conditions: (a) the determination must be made in good faith by the Administrative Agent; (b) the Administrative Agent must provide reasonable supporting documentation to the Seller setting forth the basis for the determination (including relevant collateral performance data, delinquency trends, or other quantitative metrics); and (c) the Seller shall have the right to contest the Administrative Agent's determination by requesting an independent review by the Verification Agent (Brindoval Analytics, Inc

below 83%) shall require ten (10) Business Days' prior written notice to the Seller; (b) any reduction must be supported by objective, defined performance triggers tied to specified delinquency or default rate thresholds (e

60+ day delinquency rate exceeding a stated percentage, cumulative net loss rate exceeding a stated threshold); and (c) the Seller shall have the right to request a review of the collateral performance data by Brindoval Analytics, Inc

C&H proposes adding a proviso that states: "provided that routine updates to the Originator's credit scoring models, algorithmic parameters, or internal risk metrics that do not materially relax the overall credit quality standards set forth in the Underwriting Guidelines shall not be deemed modifications requiring the Administrative Agent's prior consent

Routine one-time payment date adjustments of 15 days or fewer due to autopay timing are permitted and shall not constitute a "modification" for purposes of this criterion