Common use of Trustee Reports Clause in Contracts

Trustee Reports. (a) So long as the Certificates are held in DTC's book-entry only system, annual unaudited reports setting forth the amounts of payments on the Certificates, and whether such amounts are principal or interest shall be prepared by the Trustee and sent to DTC. To the extent the Depositor fails to provide the Trustee with a copy of any report referred to in Section 5.09(a) (i) herein prior to the 10th Business Day preceding the applicable filing date therefor as required by such provisions, the Trustee shall request the Depositor to prepare and file such report and, if the Depositor fails to do so, shall cause such report to be prepared and filed and the Depositor shall reimburse the Trustee for its reasonable expenses incurred in connection therewith. Any such expenses not reimbursed by the Depositor shall be borne by the Holders. (b) The Trustee shall, on behalf of the Trust, prepare and file with the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe), if any, which the Trust may be required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act (collectively, "reports") with respect to the Trust.

Appears in 2 contracts

Sources: Trust Agreement (National Financial Securities Corp), Trust Agreement (National Financial Securities Corp)