Common use of REPORTS TO BE PROVIDED BY THE MASTER SERVICER Clause in Contracts

REPORTS TO BE PROVIDED BY THE MASTER SERVICER. (a) In connection with the transfer of the Certificates, the Trustee on behalf of any Certificateholder may request that the Master Servicer make available to any prospective Certificateholder annual unaudited financial statements of the Master Servicer (or, upon request, audited annual financial statements of the Master Servicer's ultimate parent corporation) for one or more of the most recently completed fiscal years for which such statements are available, which request shall not be unreasonably denied or unreasonably delayed. [Such annual unaudited financial statements also shall be made available to the Certificate Insurer upon request.] In the event such firm requires the Trustee to agree to the procedures performed by such firm, the Master Servicer shall direct the Trustee in writing to agree; it being understood and agreed that the Trustee will deliver such letter of agreement in conclusive reliance upon the direction of the Master Servicer, and the Trustee shall not make any independent inquiry or investigation as to, and shall have no obligation or liability in respect of, the sufficiency, validity or correctness of such procedures. Delivery of such reports, information and documents to the Trustee is for informational purposes only, and the Trustee's receipt of such shall not constitute constructive notice of any information contained therein or determinable from the information contained therein, including the Master Servicer's compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on the Officer's Certificates).

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Painewebber Mortgage Acceptance Corporation Iv), Pooling and Servicing Agreement (Hsi Asset Securitization Corp), Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC)

AutoNDA by SimpleDocs

REPORTS TO BE PROVIDED BY THE MASTER SERVICER. (a) In connection with the transfer of the Certificates, the Trustee on behalf of any Certificateholder may request that the Master Servicer make available to any prospective Certificateholder annual unaudited financial statements of the Master Servicer (or, upon request, audited annual financial statements of the Master Servicer's ’s ultimate parent corporation) for one or more of the most recently completed fiscal years for which such statements are available, which request shall not be unreasonably denied or unreasonably delayed. [Such annual unaudited financial statements also shall be made available to the Certificate Insurer upon request.] In the event such firm requires the Trustee to agree to the procedures performed by such firm, the Master Servicer shall direct the Trustee in writing to agree; it being understood and agreed that the Trustee will deliver such letter of agreement in conclusive reliance upon the direction of the Master Servicer, and the Trustee shall not make any independent inquiry or investigation as to, and shall have no obligation or liability in respect of, the sufficiency, validity or correctness of such procedures. Delivery of such reports, information and documents to the Trustee is for informational purposes only, and the Trustee's ’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from the information contained therein, including the Master Servicer's ’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on the Officer's ’s Certificates).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bcap LLC)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.