Common use of Assessment of Compliance Clause in Contracts

Assessment of Compliance. (i) By March 15 of each year, commencing in March 2008, the Master Servicer, at its own expense, shall furnish, and shall cause any Servicing Function Participant engaged by it to furnish, at its own expense, to the Sponsor, the Depositor, the Master Servicer, the Certificate Insurer and the Trustee, a report on an assessment of compliance with the Relevant Servicing Criteria (as identified on Exhibit O) that contains (A) a statement by such party of its responsibility for assessing compliance with the Relevant Servicing Criteria, (B) a statement that such party used the Servicing Criteria to assess compliance with the Relevant Servicing Criteria, (C) such party’s assessment of compliance with the Relevant Servicing Criteria as of and for the fiscal year covered by the Form 10-K required to be filed pursuant to Section 6.20(e), including, if there has been any material instance of noncompliance with the Relevant Servicing Criteria, a discussion of each such failure and the nature and status thereof, and (D) a statement that a registered public accounting firm has issued an attestation report on such party’s assessment of compliance with the Relevant Servicing Criteria as of and for such period.

Assessment of Compliance. (i) By On or before March 15 of each year, commencing in March 20082007, the Master ServicerServicer and the Administrator (including in its capacity as Paying Agent), at its own expensethe expense of the Master Servicer and Administrator, shall furnishfurnish or otherwise make available, and shall cause any Servicing Function Participant Subservicer or Subcontractor engaged by it the Master Servicer or Administrator to furnish, at its own expense, to the Sponsor, AMC and the Depositor, the Master Servicer, the Certificate Insurer and the Trustee, a report on an assessment of compliance with the Relevant Servicing Criteria (as identified on Exhibit O) that contains (A) a statement by such party of its responsibility for assessing compliance with the Relevant Servicing Criteria, (B) a statement that such party used the Servicing Criteria to assess compliance with the Relevant Servicing Criteria, (C) such party’s 's assessment of compliance with the Relevant Servicing Criteria as of and for the fiscal year covered by the Form 10-K required to be filed pursuant to Section 6.20(e7.3(d), including, if there has been any material instance of noncompliance with the Relevant Servicing Criteria, a discussion of each such failure and the nature and status thereof, and (D) a statement that a registered public accounting firm has issued an attestation report on such party’s 's assessment of compliance with the Relevant Servicing Criteria as of and for such period. The Master Servicer and Administrator acknowledge that the Depositor may rely on such certification provided by the Master Servicer and the Administrator in signing a Sarbanes Certification and filing such with the Commission.