Common use of Failure to Provide Accounting Clause in Contracts

Failure to Provide Accounting. If the Collateral Agent shall not have received any accounting provided for in this Section 8.09 on the first Business Day after the date on which such accounting is due to the Collateral Agent, the Collateral Agent shall notify the Borrower, who shall use reasonable efforts to cause the Collateral Administrator to provide such Payment Date Report by the applicable Payment Date. For the avoidance of doubt, the Borrower has engaged the Collateral Administrator pursuant to Article XV hereof to compile and provide each Monthly Report and Payment Date Report; provided, however, that the Collateral Administrator’s obligation to compile and provide the Monthly Reports and Payment Date Reports is subject to the receipt of the information necessary to do so from the Collateral Manager, the Borrower and the Administrative Agent as set forth in this Section 8.09.

Failure to Provide Accounting. If the Collateral Agent shall not have received any accounting provided for in this Section 8.09 the Payment Date Report on the first Business Day after the date on which such accounting Payment Date Report is due to the Collateral Agentdue, the Collateral Agent shall notify the Borrower, who shall use reasonable efforts to cause the Collateral Administrator to provide such Payment Date Report by the applicable Payment Date. For the avoidance of doubt, the Borrower has engaged the Collateral Administrator pursuant to Article XV hereof to compile and provide each Monthly Report and Payment Date Report; provided, however, that the Collateral Administrator’s obligation to compile and provide the Monthly Reports and Payment Date Reports is subject to the receipt of the information necessary to do so from the Collateral Manager, the Borrower and the Administrative Agent as set forth in this Section 8.09.