Common use of Initial and Continuing Reports Clause in Contracts

Initial and Continuing Reports. The Servicer shall deliver to the Surety the Monthly Servicer Report required by Section 2.02(c) of the Servicing Agreement. Such Monthly Report shall include, among other things, the outstanding Notional Amount of each Interest Rate Cap, and, to the extent that the Floating Rate, with respect to any Interest Rate Cap exceeds the Cap Rate of the related Collection Period, the termination value of the related Interest Rate Cap. All financial statements specified in clause (i) above shall be furnished in consolidated form for FIFSG and its subsidiaries. The Surety agrees that it and its agents, accountants and attorneys shall keep confidential all financial statements, reports and other information delivered by the Servicer pursuant to this subsection 2.05(c) to the extent provided in subsection 2.05(e) hereof.

Initial and Continuing Reports. The Servicer shall deliver to the Surety the Monthly Servicer Report required by Section 2.02(c) of the Servicing Agreement. Such Monthly Report shall include, among other things, the outstanding Notional Amount of each Interest Rate Cap, and, to the extent that the Floating Rate, with respect to any Interest Rate Cap exceeds the Cap Rate of for the related Collection Period, the termination value of the related Interest Rate Cap. All financial statements specified in clause (i) above shall be furnished in consolidated form for FIFSG and its subsidiaries. The Surety agrees that it and its agents, accountants and attorneys shall keep confidential all financial statements, reports and other information delivered by the Servicer pursuant to this subsection 2.05(c) to the extent provided in subsection 2.05(e) hereof.