Common use of Annual Accountants’ Report Clause in Contracts

Annual Accountants’ Report. (a) The Servicer shall cause a firm of independent accountants, who may also render other services to the Servicer or NFRRC, to deliver to the Issuer, each Trustee, the Collateral Agent and each Rating Agency, on or before February 1 of each year, beginning with February 1, 2005 with respect to the Servicer’s immediately preceding fiscal year, (or, with respect to the first such report, such period as shall have elapsed from the Closing Date to the last day of the Servicer’s immediately preceding fiscal year), a report (the “Accountants’ Report”) addressed to the board of directors of the Servicer, the Issuer, and to each Trustee to the effect that such firm has audited the financial statements of the Servicer and issued its report thereon and that such audit (i) was made in accordance with generally accepted auditing standards, (ii) included tests relating to Receivables serviced for others in accordance with the requirements of the Uniform Single Audit Program for Mortgage Bankers (the “Program”), to the extent the procedures in the Program are applicable to the servicing obligations set forth in this Agreement and the Titling Trust Servicing Agreement and (iii) except as described in the report, disclosed no exceptions or errors in the records relating to the Receivables serviced for others that, in the firm’s opinion, paragraph four of the Program requires such firm to report.

Annual Accountants’ Report. (a) The Servicer shall cause a firm of independent accountants, who may also render other services to the Servicer or NFRRC, to deliver to the Issuer, each Trustee, the Collateral Agent and each Rating Agency, on or before February 1 of each year, beginning with February 1, 2005 with respect to the ------ Servicer’s 's immediately preceding fiscal year, (or, with respect to the first such report, such period as shall have elapsed from the Closing Date to the last day of the Servicer’s 's immediately preceding fiscal year), a report (the “"Accountants’ ' Report”") addressed to the board of directors of the Servicer, the ------------------- Issuer, and to each Trustee to the effect that such firm has audited the financial statements of the Servicer and issued its report thereon and that such audit (i) was made in accordance with generally accepted auditing standards, (ii) included tests relating to Receivables serviced for others in accordance with the requirements of the Uniform Single Audit Program for Mortgage Bankers (the “"Program”"), to the extent the procedures in the Program are applicable to ------- the servicing obligations set forth in this Agreement and the Titling Trust Servicing Agreement and (iii) except as described in the report, disclosed no exceptions or errors in the records relating to the Receivables serviced for others that, in the firm’s 's opinion, paragraph four of the Program requires such firm to report.

Annual Accountants’ Report. (a) The Servicer shall cause a firm of independent accountants, who may also render other services to the Servicer or NFRRC, to deliver to the Issuer, each Trustee, the Collateral Agent and each Rating Agency, on or before February 1 of each year, beginning with February 1, 2005 2006 with respect to the Servicer’s immediately preceding fiscal year, (or, with respect to the first such report, such period as shall have elapsed from the Closing Date to the last day of the Servicer’s immediately preceding fiscal year), a report (the “Accountants’ Report”) addressed to the board of directors of the Servicer, the Issuer, and to each Trustee to the effect that such firm has audited the financial statements of the Servicer and issued its report thereon and that such audit (i) was made in accordance with generally accepted auditing standards, (ii) included tests relating to Receivables serviced for others in accordance with the requirements of the Uniform Single Audit Program for Mortgage Bankers (the “Program”), to the extent the procedures in the Program are applicable to the servicing obligations set forth in this Agreement and the Titling Trust Servicing Agreement and (iii) except as described in the report, disclosed no exceptions or errors in the records relating to the Receivables serviced for others that, in the firm’s opinion, paragraph four of the Program requires such firm to report.

Annual Accountants’ Report. (a) The Servicer shall cause a firm of independent accountants, who may also render other services to the Servicer or NFRRCIssuer, to deliver to the Issuer, each the Indenture Trustee, the Collateral Agent and each Rating Agency, on or before February 1 as soon as available and in any event within 100 days after the end of each yearfiscal year of the Servicer, beginning with February 1the fiscal year ended October 31, 2005 2001, with respect to the Servicer’s immediately preceding such fiscal year, year (or, with respect to the first such report, such period as shall have elapsed from the Closing Date to the last day date of the Servicer’s immediately preceding fiscal yearsuch certificate), a report (the “"Accountants’ ' Report”") addressed to the board of directors of the Servicer, the Issuer, and to each Trustee Servicer to the effect that such firm has audited the financial statements of the Servicer and issued its report thereon and that such audit (i) was made in accordance with generally accepted auditing standards, (ii) included tests relating to Receivables serviced for others in accordance with the requirements of the Uniform Single Audit Program for Mortgage Bankers (the “"Program”"), to the extent the procedures in the Program are applicable to the servicing obligations set forth in this Agreement and the Titling Trust Servicing Agreement and (iii) except as described in the report, disclosed no exceptions or errors in the records relating to the Receivables serviced for others that, in the firm’s 's opinion, paragraph four of the Program requires such firm to report.

Annual Accountants’ Report. (a) The Servicer shall cause a firm of independent accountants, who may also render other services to the Servicer or NFRRC, to deliver to the Issuer, the Swap Counterparty, each Trustee, the Collateral Agent and each Rating Agency, on or before February 1 of each year, beginning with February 1, 2005 2004 with respect to the Servicer’s 's immediately preceding fiscal year, (or, with respect to the first such report, such period as shall have elapsed from the Closing Date to the last day of the Servicer’s 's immediately preceding fiscal year), a report (the “"Accountants’ ' Report”") addressed to the board of directors of the Servicer, the Issuer, and to each Trustee to the effect that such firm has audited the financial statements of the Servicer and issued its report thereon and that such audit (i) was made in accordance with generally accepted auditing standards, (ii) included tests relating to Receivables serviced for others in accordance with the requirements of the Uniform Single Audit Program for Mortgage Bankers (the “"Program”"), to the extent the procedures in the Program are applicable to the servicing obligations set forth in this Agreement and the Titling Trust Servicing Agreement and (iii) except as described in the report, disclosed no exceptions or errors in the records relating to the Receivables serviced for others that, in the firm’s 's opinion, paragraph four of the Program requires such firm to report.

Annual Accountants’ Report. (a) The Servicer shall cause a firm of independent public accountants, who may also render other services to the Servicer or NFRRC, to deliver to the Issuer, each Trustee, Trustee and the Collateral Agent and each Rating AgencyAgencies, on or before February March 1 of each year, beginning with February March 1, 2005 2011, with respect to the Servicer’s immediately preceding fiscal year, (or, with respect to the first such report, such period as shall have elapsed from the Closing Date to the last day of the Servicer’s immediately preceding fiscal year), a copy of the report (the “Accountants’ Report”) addressed to the board of directors of the Servicer, the Issuer, and to each Trustee to the effect that such firm has audited the financial statements of the Servicer and issued its report thereon and that such audit (i) was made in accordance with generally accepted auditing standards, (ii) included tests relating to Receivables receivables (including certain of the Receivables) serviced for others in accordance with the requirements of the Uniform Single Audit Attestation Program for Mortgage Bankers (the “Program”), to the extent the procedures in the Program are applicable to the servicing obligations set forth in this Agreement and the Titling Trust Servicing Agreement Agreement, and (iii) except as described in the report, disclosed no exceptions or errors in the records relating to receivables (including certain of the Receivables Receivables) serviced for others that, in the firm’s opinion, paragraph four of the Program requires such firm to report.

Annual Accountants’ Report. (a) The Servicer shall cause a firm of independent accountants, who may also render other services to the Servicer or NFRRC, to deliver to the Issuer, each Trustee, the Collateral Agent and each Rating Agency, on or before February 1 of each year, beginning with February 1, 2005 2004 with respect to the Servicer’s 's immediately preceding fiscal year, (or, with respect to the first such report, such period as shall have elapsed from the Closing Date to the last day of the Servicer’s 's immediately preceding fiscal year), a report (the “"Accountants’ ' Report”") addressed to the board of directors of the Servicer, the Issuer, and to each Trustee to the effect that such firm has audited the financial statements of the Servicer and issued its report thereon and that such audit (i) was made in accordance with generally accepted auditing standards, (ii) included tests relating to Receivables serviced for others in accordance with the requirements of the Uniform Single Audit Program for Mortgage Bankers (the “"Program”"), to the extent the procedures in the Program are applicable to the servicing obligations set forth in this Agreement and the Titling Trust Servicing Agreement and (iii) except as described in the report, disclosed no exceptions or errors in the records relating to the Receivables serviced for others that, in the firm’s 's opinion, paragraph four of the Program requires such firm to report.