Another player put this together, I thought it might be helpfull information to have available in the forums.
All this stuff happens at extern
1 ) Check for players with different alignments in the same corp. Apply penalties if needed.
2 ) Fedspace is cleared of Nav Haz.
3 ) Empty ships in Fedspace are repo'd.
4 ) Players are towed for Armament Violations. (having more than 100 figs in Fedspace while off-line)
5 ) Check for too many players in a Fedspace sector. (Random off-line players are towed if the number of allowed off-line players is exceeded in the sector) (not TOTALLY random
6 ) Reset Tax time.
7 ) Reset Grimy Trader Curse.
8 ) Recover deaths (2 pods).
9 ) Reset Jettison Collies.
10 ) Reset Alignment loss for breaking into another corp.
11 ) Clear busts (if it's the right day. In MBBS mode, it happens here daily)
12 ) Player Figs and Mines are cleared out of MSL's. Planets with Cits in MSL's are reduced to LV 2 Cits.
13 ) Planets in overloaded sectors collide. Only 2 planets collide per extern.
14 ) Destroyed Class 0 and 9 ports rebuilt if the radiation is gone.
15 ) Nav Hazz clears/reduces
16 ) Port construction advances
17 ) Players and Corps timeout. Remaining assets go rougue.
Nicely put.