Common use of Reports and Forms Clause in Contracts

Reports and Forms. During the term of this Agreement, the Servicer shall promptly and routinely furnish to Lender and Program Administrator, on behalf of Lender, copies of all material reports, records, and other documents and data as required by the Servicing Guidelines or as otherwise required by this Agreement, including the reports set forth on the Required Reports Schedule. All monthly reports shall be delivered in accordance with (a) the data security requirements of a secure communication protocol developed by the Parties from time to time, and (b) the Required Reports Schedule, unless otherwise expressly provided for herein. The Servicer shall furnish to Lender and Program Administrator, on behalf of Lender, in good condition all forms and supplies necessary or appropriate to perform the Services, including, but not limited to, letters, invoices, and forbearance applications, as specified in the Schedules hereto and any written and signed amendments thereto. In addition, Servicer shall provide Program Administrator with additional reporting as reasonably requested from time to time, upon the express direction and authorization by Lender. In the event that any reports are not delivered as provided for by the Servicing Guidelines or as otherwise required by this Agreement, including the reports set forth on the Required Reports Schedule, all fees due and owing the Servicer under this Agreement may be withheld until such reports are received by the Lender and the Program Administrator. The Servicer shall not have failed this standard if reports are delayed for any reason beyond its control. The Servicer shall furnish in good condition all forms and supplies necessary or appropriate to perform the Services, including, but not limited to, letters, invoices, and forbearance applications, as specified in the Schedule(s) and any written and signed amendments thereto.

Appears in 2 contracts

Sources: Loan Program Agreement (First Marblehead Corp), Loan Program Agreement (First Marblehead Corp)