Annual Credit Review Sample Clauses

Annual Credit Review. Upon the Issuer’s request, made not more than 60 days prior to the then Scheduled Termination Date, each Liquidity Bank shall present the transactions contemplated by the Basic Documents (including risks to such Liquidity Bank relating to (i) the Notes held by the Note Purchaser Agent on behalf of New Note Purchasers, (ii) such Liquidity Bank’s obligations to purchase Incremental Note Balances under this Agreement and (iii) the Issuing Bank’s continued willingness and ability to issue, or continue to issue, Letters of Credit in the manner contemplated by Section 2.07) to its credit committee (such process, the “Annual Credit Review”). If each Liquidity Bank’s credit committee approves the continuation of the Revolving Period (which approval may be withheld or granted in the sole discretion of such committee) prior to the end of the then current Revolving Period, then the Annual Credit Review will have been completed in a satisfactory manner and the Revolving Period will be renewed for an additional term of 364 days pursuant to Section 2.7(b) of the Sale and Servicing Agreement; otherwise, the Revolving Period shall terminate pursuant to the proviso to Section 2.7(b) of the Sale and Servicing Agreement. No later than 45 days prior to each Scheduled Termination Date, each Liquidity Bank will inform the Seller, Servicer and Issuer of the status of the Annual Credit Review. Not later than the earlier to occur of (i) two Business Days following the completion of each Annual Credit Review and (ii) the last Business Day of the Revolving Period, each Liquidity Bank will notify Seller, Servicer and Issuer as to whether or not the Revolving Period has been terminated. If any Liquidity Bank does not provide such notice within the time period described in the preceding sentence, then the Revolving Period shall terminate on the last day of the current Revolving Period, unless Liquidity Banks having aggregate Liquidity Bank Commitments equal to the Investor Purchase Limit shall agree to renew the Revolving Period.
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Annual Credit Review. (1) Within forty five (45) days, the Board shall employ or designate a sufficiently experienced and qualified person or firm to review loans in accordance with the credit review program developed pursuant to paragraph (2) of this Article.

Related to Annual Credit Review

  • Credit Reports Borrower authorizes Lender to obtain a credit report on Borrower at any time.

  • Letter of Credit Reports Each Issuing Bank shall furnish (A) to the Agent on the first Business Day of each month a written report summarizing issuance and expiration dates of Letters of Credit issued by such Issuing Bank during the preceding month and drawings during such month under all such Letters of Credit and (B) to the Agent on the first Business Day of each calendar quarter a written report setting forth the average daily aggregate Available Amount during the preceding calendar quarter of all Letters of Credit issued by such Issuing Bank.

  • Credit Reporting For each Mortgage Loan, the Company shall accurately and fully furnish, in accordance with the Fair Credit Reporting Act and its implementing regulations, accurate and complete information on its borrower credit files to each of the following credit repositories: Equifax Credit Information Services, Inc., TransUnion, LLC and Experian Information Solution, Inc. on a monthly basis.

  • Annual Audit Report On or before July 31 of each year, beginning with July 31, 2002, Servicer shall, at its own expense, cause a firm of independent public accountants (who may also render other services to Servicer), which is a member of the American Institute of Certified Public Accountants, to furnish to the Seller and Master Servicer (i) year-end audited (if available) financial statements of the Servicer and (ii) a statement to the effect that such firm has examined certain documents and records for the preceding fiscal year (or during the period from the date of commencement of such Servicer's duties hereunder until the end of such preceding fiscal year in the case of the first such certificate) and that, on the basis of such examination conducted substantially in compliance with the Uniform Single Attestation Program for Mortgage Bankers, such firm is of the opinion that Servicer's overall servicing operations have been conducted in compliance with the Uniform Single Attestation Program for Mortgage Bankers except for such exceptions that, in the opinion of such firm, the Uniform Single Attestation Program for Mortgage Bankers requires it to report, in which case such exceptions shall be set forth in such statement.

  • Letter of Credit Requests; Minimum Stated Amount (a) Whenever the Borrower desires that a Letter of Credit be issued for its account, the Borrower shall give the Administrative Agent and the respective Issuing Lender at least five Business Days’ (or such shorter period as is acceptable to such Issuing Lender) written notice thereof (including by way of facsimile). Each notice shall be in the form of Exhibit C, appropriately completed (each, a “Letter of Credit Request”).

  • Fair Credit Reporting Act The Servicer has fully furnished, in accordance with the Fair Credit Reporting Act and its implementing regulations, accurate and complete information (e.g., favorable and unfavorable) on its borrower credit files to Equifax, Experian and Trans Union Credit Information Company (three of the credit repositories) on a monthly basis.

  • Letter of Credit Requests (a) Whenever the Borrower desires that a Letter of Credit be issued for its account or for the account of any of its Subsidiaries, it shall give the Administrative Agent and the Letter of Credit Issuer at least five (or such lesser number as may be agreed upon by the Administrative Agent and the Letter of Credit Issuer) Business Days’ written notice thereof. Each such notice shall be executed by the Borrower and shall be in the form of Exhibit G (each a “Letter of Credit Request”).

  • Audit Report 38 10.1.2 Quarterly Reports.............................................................................38 10.1.3 Monthly Reports...............................................................................39 10.1.4

  • Audit Reports promptly upon receipt thereof, one copy of each other financial report and internal control letter submitted to the Company by independent accountants in connection with any annual, interim or special audit made by them of the books of the Company.

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