Common use of Additional Reporting and Notice Requirements Clause in Contracts

Additional Reporting and Notice Requirements. (a) Manager’s Duty to Initial Member and Secured Parties; Delivery of Certain Notices. In addition to such other reports and access to books, records and reports as are required to be provided under this Agreement, the Manager shall cause to be delivered to the Initial Member and the Purchase Money Notes Guarantor such information as is specified in Exhibit B (in addition to the Monthly Report) and such other information relating to the Loans, the Underlying Collateral, the Company, the Servicers and any Subservicers as Initial Member or the Purchase Money Notes Guarantor may reasonably request from time to time and, in any case, shall ensure that Initial Member and the Purchase Money Notes Guarantor are promptly advised, in writing, of any matter of which the Manager, any Servicer or any Subservicer becomes aware relating to the Loans, the Underlying Collateral, the Collection Account, the Escrow Accounts, the Working Capital Reserve Account, the Defeasance Account, or any Borrower or Obligor that materially and adversely affects the interests of Initial Member hereunder or of any secured party under the Reimbursement, Security and Guaranty Agreement. Without limiting the generality of the foregoing, the Manager shall cause to be delivered to Initial Member information indicating any possible Environmental Hazards with respect to any Underlying Collateral. To the extent that the Initial Member requests information which is dependent upon obtaining such information from a Borrower, Obligor or other third party, the Manager shall cause to be made commercially reasonable efforts to obtain such information but it shall not be a breach by the Manager of this Agreement if the Manager fails to cause such information to be provided to Initial Member because a Borrower, Obligor or other Person has failed to provide such information after such efforts have been made.

Additional Reporting and Notice Requirements. (a) Manager’s Duty to Initial Member and Secured PartiesMember; Delivery of Certain Notices. In addition to such other reports and access to books, records and reports as are required to be provided under this Agreement, the Manager shall must cause to be delivered to the Initial Member and the Purchase Money Notes Guarantor each Beneficiary such information as is specified in Exhibit B to the LLC Operating Agreement (in addition to the Monthly Report) and such other information relating to the LoansAssets, the Underlying Collateral, the Company, the Servicers Servicer, any Subservicers and any Subservicers JDC Contractors as Initial Member or the Purchase Money Notes Guarantor such Beneficiary may reasonably request from time to time and, in any case, shall must ensure that Initial Member and the Purchase Money Notes Guarantor are each Beneficiary is promptly advised, in writing, of any matter of which the Manager, the Servicer, any Servicer Subservicer or any Subservicer JDC Contractor becomes aware relating to the LoansAssets, the Underlying Collateral, the Collection each Company Account, the Escrow Accounts, the Working Capital Reserve Account, the Defeasance Account, or any Borrower or Obligor that materially and adversely affects the interests of the Initial Member hereunder or of under any secured party under the Reimbursement, Security and Guaranty AgreementTransaction Document. Without limiting the generality of the foregoing, the Manager shall (i) must cause to be delivered to Initial Member each Beneficiary (w) information indicating any possible Environmental Hazards with respect to any Underlying Collateral, Acquired REO Property or other Assets, (x) information regarding any material contingent liability for which reserves should, in accordance with the Servicing Standard, be maintained by the Company or any Ownership Entity, (y) any notice or report provided to the Company or the Manager pursuant to Section 5.5 of the Servicing Agreement as in effect on the Closing Date (or pursuant to any other provision of the Servicing Agreement comparable to this Section 3(a) and (z) such information and certificates (including officers’ certificates of the Private Owner) regarding compliance of the Private Owner with the requirements of Sections 8.2 and 10.1 of the LLC Operating Agreement as such Beneficiary may request from time to time, and (ii) in any event must immediately notify each Beneficiary in writing of any failure or cessation of the Private Owner to satisfy the requirements of Sections 8.2 and‌ 10.1 of the LLC Operating Agreement, provided that any failure of the Manager to so provide such immediate notice under this clause (ii) will not be deemed a breach of this Agreement so long as the relevant information with respect thereto is included in the applicable Monthly Report for the period including the date on which such failure occurred (so long as such Monthly Report is timely delivered in accordance herewith). To the extent that the Initial Member any Beneficiary requests information which is dependent upon obtaining such information from a Borrower, Obligor or other third party, the Manager shall must cause to be made commercially reasonable efforts to obtain such information but it shall will not be a breach by the Manager of this Agreement if the Manager fails to cause such information to be provided to Initial Member such Beneficiary because a Borrower, Obligor or other Person has failed to provide such information after such efforts have been made.

Additional Reporting and Notice Requirements. (a) Manager’s Duty to Initial Member and Secured Parties; Delivery of Certain Notices. In addition to such other reports and access to books, records and reports as are required to be provided under this Agreement, the Manager shall cause to be delivered to the Initial Member and the Purchase Money Notes Guarantor each Required Consenting Party such information as is specified in Exhibit B (in addition to the Monthly Report) and such other information relating to the LoansAssets, the Underlying Collateral, the Company, the Servicers and any Subservicers as Initial Member or the Purchase Money Notes Guarantor such Required Consenting Party may reasonably request from time to time and, in any case, shall ensure that Initial Member and the Purchase Money Notes Guarantor are each Required Consenting Party is promptly advised, in writing, of any matter of which the Manager, any Servicer or any Subservicer becomes aware relating to the LoansAssets, the Underlying Collateral, the Collection Account, the Escrow Accounts, the Working Capital Reserve Account, the Company Development Account, any accounts created under the Advance Facility, the Defeasance Account, or any Borrower or Obligor that materially and adversely affects the interests of Initial Member hereunder or of such Required Consenting Party under any secured party under the Reimbursement, Security and Guaranty AgreementTransaction Document. Without limiting the generality of the foregoing, the Manager shall cause to be delivered to the Initial Member information indicating any possible Environmental Hazards with respect to any Underlying Collateral. To the extent that the Initial Member requests information which is dependent upon obtaining such information from a Borrower, Obligor or other third party, the Manager shall cause to be made commercially reasonable efforts to obtain such information but it shall not be a breach by the Manager of this Agreement if the Manager fails to cause such information to be provided to the Initial Member because a Borrower, Obligor or other Person has failed to provide such information after such efforts have been made.