Common use of Annual Accountants’ Report Clause in Contracts

Annual Accountants’ Report. (a) The Servicer shall cause a firm of independent accountants, who may also render other services to the Servicer or NFRRC, to deliver to the Issuer, the Swap Counterparty, each Trustee, the Rating Agencies and the Agent, (i) on or before February 15 of each year, beginning with February 15, 2010, with respect to the Servicer’s immediately preceding fiscal year (or, with respect to the first such report, such period as shall have elapsed from the Closing Date to the last day of the Servicer’s current fiscal year), a copy of the report (the “Accountants’ Report”) addressed to the board of directors of the Servicer, the Issuer, and to each Trustee to the effect that such firm has audited the financial statements of the Servicer and issued its report thereon and that such audit was made in accordance with generally accepted auditing standards and (ii) on or before March 1 of each year, beginning with March 1, 2010, with respect to the Servicer’s immediately preceding fiscal year (or, with respect to the first such date, such period as shall have elapsed from the Closing Date to the last day of the Servicer’s immediately preceding fiscal year), a copy of the agreed upon procedures letter relating to the receivables serviced by NFC for others, which letter may also relate to the Receivables, in accordance with the requirements of the Minimum Servicing Standards set forth in Exhibit A hereto. (b) The same firm of independent accountants shall have certified to NFRRC that the firm is independent of NFRRC and the Servicer within the meaning of the Code of Professional Ethics of the American Institute of Certified Public Accountants. (c) A copy of the Accountant’s Report may be obtained by any Noteholder or Certificateholder by a request in writing to the Indenture Trustee or the Issuer, addressed to the Corporate Trust Office of the Indenture Trustee or the Owner Trustee, respectively.

Annual Accountants’ Report. (a) The Servicer shall cause a firm of independent accountants, who may also render other services to the Servicer or NFRRC, to deliver to the Issuer, the Swap Counterparty, each Trustee, the Collateral Agent and each Rating Agencies and the AgentAgency, (i) on or before February 15 1 of each year, beginning with February 151, 2010, 2004 with respect to the Servicer’s 's immediately preceding fiscal year year, (or, with respect to the first such report, such period as shall have elapsed from the Closing Date to the last day of the Servicer’s current 's immediately preceding fiscal year), a copy of the report (the “"Accountants’ ' Report”") addressed to the board of directors of the Servicer, the Issuer, and to each Trustee to the effect that such firm has audited the financial statements of the Servicer and issued its report thereon and that such audit (i) was made in accordance with generally accepted auditing standards and standards, (ii) on or before March 1 of each year, beginning with March 1, 2010, with respect to the Servicer’s immediately preceding fiscal year (or, with respect to the first such date, such period as shall have elapsed from the Closing Date to the last day of the Servicer’s immediately preceding fiscal year), a copy of the agreed upon procedures letter included tests relating to the receivables Receivables serviced by NFC for others, which letter may also relate to the Receivables, others in accordance with the requirements of the Minimum Servicing Standards Uniform Single Audit Program for Mortgage Bankers (the "Program"), to the extent the procedures in the Program are applicable to the servicing obligations set forth in Exhibit A heretothis Agreement and the Titling Trust Servicing Agreement and (iii) except as described in the report, disclosed no exceptions or errors in the records relating to the Receivables serviced for others that, in the firm's opinion, paragraph four of the Program requires such firm to report. (b) The same firm of independent accountants Accountants' Report shall have certified to NFRRC also indicate that the firm is independent of NFRRC and the Servicer within the meaning of the Code of Professional Ethics of the American Institute of Certified Public Accountants. (c) A copy of the Accountant’s 's Report may be obtained by any Noteholder or Certificateholder by a request in writing to the Indenture Trustee or the Issuer, addressed to the Corporate Trust Office of the Indenture Trustee or the Owner Trustee, respectively.

Annual Accountants’ Report. (a) The Servicer shall cause a firm of independent accountants, who may also render other services to the Servicer or NFRRC, to deliver to the Issuer, the Swap Counterparty, each Trustee, the Collateral Agent and each Rating Agencies and the AgentAgency, (i) on or before February 15 1 of each year, beginning with February 151, 2010, 2004 with respect to the Servicer’s 's immediately preceding fiscal year year, (or, with respect to the first such report, such period as shall have elapsed from the Closing Date to the last day of the Servicer’s current 's immediately preceding fiscal year), a copy of the report (the “"Accountants’ ' Report”") addressed to the board of directors of the Servicer, the Issuer, and to each Trustee to the effect that such firm has audited the financial statements of the Servicer and issued its report thereon and that such audit (i) was made in accordance with generally accepted auditing standards and standards, (ii) on or before March 1 of each year, beginning with March 1, 2010, with respect to the Servicer’s immediately preceding fiscal year (or, with respect to the first such date, such period as shall have elapsed from the Closing Date to the last day of the Servicer’s immediately preceding fiscal year), a copy of the agreed upon procedures letter included tests relating to the receivables Receivables serviced by NFC for others, which letter may also relate to the Receivables, others in accordance with the requirements of the Minimum Servicing Standards Uniform Single Audit Program for Mortgage Bankers (the "Program"), to the extent the procedures in the Program are applicable to the servicing obligations set forth in Exhibit A heretothis Agreement and the Titling Trust Servicing Agreement and (iii) except as described in the report, disclosed no exceptions or errors in the records relating to the Receivables serviced for others that, in the firm's opinion, paragraph four of the Program requires such firm to report. (b) The same firm of independent accountants Accountants' Report shall have certified to NFRRC also indicate that the firm is independent of NFRRC and the Servicer within the meaning of the Code of Professional Ethics of the American Institute of Certified Public Accountants. (c) A copy of the Accountant’s 's Report may be obtained by any Noteholder or Certificateholder by a request in writing to the Indenture Trustee or the Issuer, addressed to the Corporate Trust Office of the Indenture Trustee or the Owner Trustee, respectively.

Annual Accountants’ Report. (a) The Servicer shall cause a firm of independent accountants, who may also render other services to the Servicer or NFRRC, to deliver to the Issuer, the Swap Counterparty, each Trustee, the Collateral Agent and each Rating Agencies and the AgentAgency, (i) on or before February 15 1 of each year, beginning with February 15, 20101, with respect to the ------ Servicer’s 's immediately preceding fiscal year year, (or, with respect to the first such report, such period as shall have elapsed from the Closing Date to the last day of the Servicer’s current 's immediately preceding fiscal year), a copy of the report (the “"Accountants’ ' Report”") addressed to the board of directors of the Servicer, the ------------------- Issuer, and to each Trustee to the effect that such firm has audited the financial statements of the Servicer and issued its report thereon and that such audit (i) was made in accordance with generally accepted auditing standards and standards, (ii) on or before March 1 of each year, beginning with March 1, 2010, with respect to the Servicer’s immediately preceding fiscal year (or, with respect to the first such date, such period as shall have elapsed from the Closing Date to the last day of the Servicer’s immediately preceding fiscal year), a copy of the agreed upon procedures letter included tests relating to the receivables Receivables serviced by NFC for others, which letter may also relate to the Receivables, others in accordance with the requirements of the Minimum Servicing Standards Uniform Single Audit Program for Mortgage Bankers (the "Program"), to the extent the procedures in the Program are applicable to ------- the servicing obligations set forth in Exhibit A heretothis Agreement and the Titling Trust Servicing Agreement and (iii) except as described in the report, disclosed no exceptions or errors in the records relating to the Receivables serviced for others that, in the firm's opinion, paragraph four of the Program requires such firm to report. (b) The same firm of independent accountants Accountants' Report shall have certified to NFRRC also indicate that the firm is independent of NFRRC and the Servicer within the meaning of the Code of Professional Ethics of the American Institute of Certified Public Accountants. (c) A copy of the Accountant’s 's Report may be obtained by any Noteholder or Certificateholder by a request in writing to the Indenture Trustee or the Issuer, addressed to the Corporate Trust Office of the Indenture Trustee or the Owner Trustee, respectively.

Annual Accountants’ Report. (a) The Servicer shall cause a firm of independent accountants, who may also render other services to the Servicer or NFRRC, to deliver to the Issuer, the Swap Counterparty, each Trustee, the Rating Agencies and the Agent, (i) on or before February 15 of each following year, beginning with February 1516, 20102009, with respect to the Servicer’s immediately preceding fiscal year (or, with respect to the first such report, such period as shall have elapsed from the Closing Date to the last day of the Servicer’s current fiscal year), a copy of the report (the “Accountants’ Report”) addressed to the board of directors of the Servicer, the Issuer, and to each Trustee to the effect that such firm has audited the financial statements of the Servicer and issued its report thereon and that such audit was made in accordance with generally accepted auditing standards and (ii) on or before March 1 of each following year, beginning with March 1, 20102009, with respect to the Servicer’s immediately preceding fiscal year (or, with respect to the first such date, such period as shall have elapsed from the Closing Date to the last day of the Servicer’s immediately preceding fiscal year), a copy of the agreed upon procedures letter relating to the receivables serviced by NFC for others, which letter may also relate to the Receivables, in accordance with the requirements of the Minimum Servicing Standards set forth in Exhibit A hereto. (b) The same firm of independent accountants shall have certified to NFRRC that the firm is independent of NFRRC and the Servicer within the meaning of the Code of Professional Ethics of the American Institute of Certified Public Accountants. (c) A copy of the Accountant’s Report may be obtained by any Noteholder or Certificateholder by a request in writing to the Indenture Trustee or the Issuer, addressed to the Corporate Trust Office of the Indenture Trustee or the Owner Trustee, respectively.