Common use of Financial and Status Reports Clause in Contracts

Financial and Status Reports. The fiscal year of the Litigation Trust shall be the calendar year. Within 90 days after the end of each calendar year during the term of the Litigation Trust, and within 45 days after the end of each calendar quarter during the term of the Litigation Trust and as soon as practicable upon termination of the Litigation Trust, the Litigation Trustee shall make available upon request to the Beneficiary appearing on its records as of the end of such period or such date of termination a written report including: (i) financial statements of the Litigation Trust for such period, and, if the end of a calendar year, a report (which may be prepared by an independent certified public accountant employed by the Litigation Trustee) reflecting the result of such agreed upon procedures relating to the financial accounting administration of the Litigation Trust as proposed by the Litigation Trustee; (ii) a summary description of any action taken by the Litigation Trust which, in the judgment of the Litigation Trustee, materially affects the Litigation Trust and of which notice has not previously been given to the Beneficiary; and (iii) a description of the progress of liquidating Litigation Trust Assets and making distributions to Beneficiary and any other material information relating to the Litigation Trust Assets and the administration of the Litigation Trust. The Litigation Trustee may post any such report on a web site maintained by the Litigation Trustee or electronically file it with the Bankruptcy Court in lieu of actual notice to each Beneficiary (unless otherwise required by law).

Financial and Status Reports. The fiscal year On the anniversary date of the Litigation Trust shall be the calendar year. Within 90 days after the end of each calendar year during the term of the Litigation TrustEffective Date, and within 45 days after the end of each calendar quarter during the term of the Litigation Trust and as soon as practicable upon termination of the Litigation Trust, the Litigation Trustee shall make available upon request to the Beneficiary each holder of Litigation Trust Interests appearing on its his/her records as of the end of such period or such date of termination a written report including: (i) financial statements of the Litigation Trust for such period, and, if the end of a calendar year, a report (which may be prepared by an independent certified public accountant employed by the Litigation Trustee) reflecting the result of such agreed upon procedures relating to the financial accounting administration of the Litigation Trust as proposed by the Litigation Trustee; (ii) a summary description of any action taken by the Litigation Trust which, Trustee in the judgment performance of the Litigation Trustee, his duties which materially affects the Litigation Trust and of which notice has not previously been given to the Beneficiaryholders of Litigation Trust Interests; (iv) the status of the claims and causes of action assigned to the Litigation Trust; and (iiiv) a description of the progress of liquidating converting Litigation Trust Assets to Cash and making distributions to Beneficiary holders of Litigation Trust Interests and any other material information relating to the Litigation Trust Assets and the administration of the Litigation Trust. The Litigation Trustee may post any such report on a web site maintained by the Litigation Trustee or electronically file it with the Bankruptcy Court in lieu of actual notice to each Beneficiary holders of Litigation Trust Interests (unless otherwise required by law).

Financial and Status Reports. The fiscal year of the Litigation Liquidating Trust shall be the calendar year. Within 90 days after the end of each calendar year during the term of the Litigation Liquidating Trust, and within 45 days after the end of each calendar quarter during the term of the Litigation Liquidating Trust (other than the fourth quarter) and as soon as practicable upon termination of the Litigation Liquidating Trust, the Litigation Liquidating Trustee shall make available upon request to the Beneficiary Liquidating Trust Beneficiaries appearing on its records in the Trust Register as of the end of such period or such date of termination termination, a written report including: (i) financial statements of the Litigation Liquidating Trust for such period, and, if the end of a calendar year, a an unaudited report (which may be prepared by an independent certified public accountant employed by the Litigation Liquidating Trustee) reflecting the result of such agreed upon procedures relating to the financial accounting administration of the Litigation Liquidating Trust as proposed may be adopted by the Litigation Liquidating Trustee; (ii) a summary description of any action taken by the Litigation Liquidating Trust which, in the judgment of the Litigation Liquidating Trustee, materially affects the Litigation Liquidating Trust and of which notice has not previously been given to the BeneficiaryLiquidating Trust Beneficiaries; and (iii) a description of the progress of liquidating Litigation the Liquidating Trust Assets and making distributions to Beneficiary the Liquidating Trust Beneficiaries, which description shall include a written report providing, among other things, a summary of the litigation status of the Preserved Estate Claims transferred to the Liquidating Trust, any settlements entered into by the Liquidating Trust with respect to the Preserved Estate Claims, the Liquidating Trust Proceeds recovered to date, and the distributions made by the Liquidating Trust to date; (iv) payments made to the Liquidating Trustee and the Liquidating Trust Professionals (including fees and expenses paid to contingency fee counsel); and (v) any other material information relating to the Litigation Liquidating Trust Assets and the administration of the Litigation TrustLiquidating Trust deemed appropriate to be disclosed by the Liquidating Trustee. In addition, the Liquidating Trust shall provide unaudited financial statements to each Liquidating Trust Beneficiary on a quarterly basis (which may be quarterly operating reports filed with the Bankruptcy Court). The Litigation Liquidating Trustee may post any such report on a web site website maintained by the Litigation Trustee Liquidating Trust or electronically file it with the Bankruptcy Court in lieu of actual notice to each Beneficiary Liquidating Trust Beneficiary. The Liquidating Trustee shall respond, as soon as reasonably practicable, to reasonable requests for information (unless otherwise required by lawto the extent available) described in this clause (a) that is reasonably requested from Liquidating Trust Beneficiaries during reasonable business hours, in each case, to the extent such requests do not (i) request the disclosure of privileged or confidential information, (ii) request the disclosure of information which would not be in the best interest of the Liquidating Trust (in the reasonable discretion of the Liquidating Trustee), and (iii) interfere with the duties of the Litigation Trustee hereunder.

Financial and Status Reports. The fiscal year of the Litigation Trust shall be the calendar year. Within 90 days after the calendar year-end of following the Effective Date and for each calendar year during the term of the Litigation Trustend thereafter, and within 45 days after the end of each calendar quarter during the term of the Litigation Trust and as soon as practicable upon termination of the Litigation Creditor Trust, the Litigation Creditor Trustee shall make available upon request to the agents for Other Distributees and each Beneficiary appearing on its his/her records as of the end of such period or such date of termination a written report including: (i) financial statements of the Litigation Creditor Trust for such period, and, if the end of a calendar year, a report (which may be prepared by an independent certified public accountant employed by the Litigation Creditor Trustee) reflecting the result of such agreed upon procedures relating to the financial accounting administration of the Litigation Creditor Trust as proposed by the Litigation Creditor Trustee; (ii) a summary description of any action taken by the Litigation Creditor Trust which, in the judgment of the Litigation Trustee, which materially affects the Litigation Creditor Trust and of which notice has not previously been given to the Beneficiaryholders of Creditor Trust Interests; and (iii) a description of the progress of liquidating Litigation Creditor Trust Assets and making distributions to Beneficiary Beneficiaries and any other material information relating to the Litigation Creditor Trust Assets and the administration of the Litigation Creditor Trust. The Litigation Creditor Trustee may post any such report on a web site maintained by the Litigation Creditor Trustee or electronically file it with the Bankruptcy Court in lieu of actual notice to each Beneficiary holders of Creditor Trust Interests (unless otherwise required by law). The Creditor Trustee may require the recipient of such information to agree to keep such information confidential pursuant to reasonable confidentiality provisions. Additionally, the Creditor Trustee shall provide the agents for the Other Distributees notice when the holders of Allowed General Unsecured Claims and Allowed 2015 Notes Claims have received aggregate distributions under the Plan, the Lender Litigation Settlement, the Creditor Trust, and this Creditor Trust sufficient to pay such holder 85% of the Allowed Base Claim Amounts in Cash and Class A Shares. Additional notices shall be provided upon such distributions achieving 90% and 95% of the Allowed Base Claim Amounts and upon the occurrence of the Excess Recovery Trigger Date.

Financial and Status Reports. The fiscal year of the Litigation Creditors’ Trust shall be the calendar year. Within 90 days after the end of each the calendar year during the term of the Litigation Trust, Creditors’ Trust and within 45 days after the end of each calendar quarter during the term of the Litigation Creditors’ Trust and as soon as practicable upon termination of the Litigation Creditors’ Trust, the Litigation Creditors’ Trustee shall make available upon request to the Beneficiary Beneficiaries appearing on its records as of the end of such period or such date of termination a written report including: (i) financial statements of the Litigation Creditors’ Trust for such period, and, if the end of a calendar year, a report (which may be prepared by an independent certified public accountant employed by the Litigation Creditors’ Trustee) reflecting the result of such agreed upon procedures relating to the financial accounting administration of the Litigation Creditors’ Trust as proposed by the Litigation Creditors’ Trustee; (ii) a summary description of any action taken by the Litigation Creditors’ Trust which, in the judgment of the Litigation Creditors’ Trustee, materially affects the Litigation Creditors’ Trust and of which notice has not previously been given to the BeneficiaryBeneficiaries; and (iii) a description of the progress of liquidating Litigation Creditors’ Trust Assets Assets, resolving Claims in the DOF, and making distributions to Beneficiary Beneficiaries and any other material information relating to the Litigation Creditors’ Trust Assets and the administration of the Litigation Creditors’ Trust. The Litigation Creditors’ Trustee may post any such report on a web site maintained by the Litigation Creditors’ Trustee or electronically file it with the Bankruptcy Court in lieu of actual notice to each Beneficiary (unless otherwise required by law).