Common use of Examinations, Books, and Records Clause in Contracts

Examinations, Books, and Records. ‌ The PFI or Servicer must allow the MPF Bank or the MPF Provider, or either of their agents and representatives, including, without limitation the Master Servicer, to conduct periodic examinations, reviews, and audits of the PFI or Servicer's books, records and operating procedures on any Business Day during normal business hours. The PFI or Servicer must make a knowledgeable person available during the conduct of any such examination for the purpose of answering questions regarding the financial statements and any developments affecting the financial condition of the PFI or Servicer. The PFI or Servicer agrees that the MPF Bank or the MPF Provider is entitled, at reasonable times and upon reasonable notice to the PFI or Servicer, to audit the PFI or Servicer's origination and servicing procedures and practices, including, without limitation, the escrow funds' records and any and all other relevant documents and materials, whether held by the PFI or Servicer or by another on behalf of the PFI or Servicer, and to examine any other records and policies regarding the Mortgage Loans as may be necessary to satisfy the MPF Bank or the MPF Provider that the PFI or Servicer has the ability to service the Mortgage Loans in compliance with the terms and conditions of this Guide and the Applicable Agreement. The Servicer authorizes the MPF Bank, the MPF Provider and the Master Servicer to cooperate fully with any federal, state or local authority conducting a formal or informal investigation, examination or audit of the PFI or Servicer.

Examinations, Books, and Records. ‌ The PFI or Servicer must allow the MPF Bank or the MPF Provider, or either of their agents and representatives, including, without limitation the Master Servicer, to conduct periodic examinations, reviews, and audits of the PFI or Servicer's books, records and operating procedures on any Business Day during normal business hours. The PFI or Servicer must make a knowledgeable person available during the conduct of any such examination for the purpose of answering questions regarding the financial statements and any developments affecting the financial condition of the PFI or Servicer. The PFI or Servicer Xxxxxxxx agrees that the MPF Bank or the MPF Provider is entitled, at reasonable times and upon reasonable notice to the PFI or Servicer, to audit the PFI or Servicer's origination and servicing procedures and practices, including, without limitation, the escrow funds' records and any and all other relevant documents and materials, whether held by the PFI or Servicer or by another on behalf of the PFI or Servicer, and to examine any other records and policies regarding the Mortgage Loans as may be necessary to satisfy the MPF Bank or the MPF Provider that the PFI or Servicer has the ability to service the Mortgage Loans in compliance with the terms and conditions of this Guide and the Applicable Agreement. The Servicer authorizes the MPF Bank, the MPF Provider and the Master Servicer to cooperate fully with any federal, state or local authority conducting a formal or informal investigation, examination or audit of the PFI or Servicer.