Common use of Future Covenants Clause in Contracts

Future Covenants. (a) For the purpose of satisfying the reporting obligation under the Exchange Act with respect to any class of asset-backed securities, the Company shall (i) promptly provide the Depositor and the Securities Administrator written notice substantially in the form of Exhibit II (A) any material litigation or governmental proceedings pending against the Company, (B) any Event of Default under the terms of this Agreement or any Purchase Agreement and (C) any merger, consolidation or sale of substantially all of the assets of the Company and (ii) provide to the Depositor and the Securities Administrator a description of such proceedings, affiliations or relationships.

Future Covenants. (a) For the purpose of satisfying the reporting obligation under the Exchange Act with respect to any class of asset-backed securities, the Company Servicer shall (i) promptly provide the Depositor and the Securities Administrator written notice substantially in the form of Exhibit II III (A) any material litigation or governmental proceedings pending against the CompanyServicer, (B) any Event of Default under the terms of this Agreement or any Purchase Servicing Agreement and (C) any merger, consolidation or sale of substantially all of the assets of the Company Servicer and (ii) provide to the Depositor and the Securities Administrator a description of such proceedings, affiliations or relationships.

Future Covenants. (a) For the purpose of satisfying the reporting obligation under the Exchange Act with respect to any class of asset-backed securities, the Company shall (i) promptly provide the Depositor and the Securities Administrator written notice substantially in the form of Exhibit II (A) any material litigation or governmental proceedings pending against the CompanyCompany that would be material to holders of securities in a Securitization Transaction, (B) any Event of Default under the terms of this Agreement or any Purchase Agreement and (C) any merger, consolidation or sale of substantially all of the assets of the Company and (ii) provide to the Depositor and the Securities Administrator a description of such proceedings, affiliations or relationships.

Future Covenants. (a) For the purpose of satisfying the reporting obligation under the Exchange Act with respect to any class of asset-backed securities, the Company Seller shall (i) promptly provide the Depositor and the Securities Administrator written notice substantially in the form of Exhibit II (A) any material litigation or governmental proceedings pending against the CompanySeller, (B) any Event of Default under the terms of this Agreement or any Purchase Agreement and (C) any merger, consolidation or sale of substantially all of the assets of the Company Seller and (ii) provide to the Depositor and the Securities Administrator a description of such proceedings, affiliations or relationships.