Common use of Initial and Continuing Reports Clause in Contracts

Initial and Continuing Reports. The Issuer shall deliver to the Insurer not later than 5:00 p.m., New York City time, (A) on the day that is four Business Days prior to each Payment Date the Monthly Servicing Certificate required by Section 4.1(c) of the Base Indenture and the Monthly Noteholders’ Statement required by Section 4.1(d) of the Base Indenture and (B) on or before each Payment Date the Monthly Collateral Certificate required by Section 4.1(e) of the Base Indenture. Upon the request of the Insurer, the Issuer shall deliver to the Insurer within one Business Day of its request, copies of any Daily Collection Report required by Section 4.1(a) of the Base Indenture.