Common use of Financial Statements and Independent Accountant's Servicing Certificate Review Clause in Contracts

Financial Statements and Independent Accountant's Servicing Certificate Review. (a) The Servicer shall, not later than 90 days after the end of each fiscal year, commencing with the fiscal year commencing June 30, 1996, deliver to the Depositor, the Trustee and the Rating Agency a copy of the Servicer's annual financial statements for such fiscal year, audited by the Independent Accountant. (b) The Servicer shall, within 60 days after the end of each calendar quarter, commencing with the quarter ending December 31, 1995, deliver to the Depositor, the 39 45 Trustee and the Rating Agency quarterly, unaudited financial statements of the Servicer for such calendar quarter. (c) The Servicer shall inform the Depositor, the Rating Agency and the Trustee in writing, and the Trustee shall, upon written request, give notice to the Certificateholders, of the Servicer's fiscal year and any change in such fiscal year. (d) The Servicer shall cause the Independent Accountant (who may also render other services to the Servicer and its Affiliates) to prepare a statement to the Trustee and the Rating Agency dated as of June 30, 1996, and annually as of the same month and day thereafter until the Certificate Principal Balance has been reduced to zero, to the effect that the Independent Accountant has examined the servicing procedures, manuals, guides and records of the Servicer and the accounts and records of the Servicer relating to the Transferred Property and the Lease Files (which procedures, manuals, guides and records shall be described in one or more schedules to such statement), that the Independent Accountant has compared the information contained in the Servicer's Certificates delivered in the relevant period with information contained in the accounts and records for such period, and that, on the basis of such examination and comparison, nothing has come to the Independent Accountant's attention to indicate that, during the relevant period, (i) the Servicer has not serviced the Transferred Property in compliance with such servicing procedures, manuals and guides and in the same manner required by the Servicer's standards and with the same degree of skill and care consistent with that which the Servicer customarily exercises with respect to similar property owned by it and otherwise in compliance with this Agreement, (ii) such accounts and records have not been maintained in accordance with Section 5.02 hereof, (iii) the information contained in the Servicer's Certificates does not reconcile with the information contained in such accounts and records or (iv) that such certificates, accounts and records have not been properly prepared and maintained in all material respects, except in each case for (A) such exceptions as the Independent Accountant shall believe to be immaterial and (B) such other exceptions as shall be set forth in such statement. On or before September 30 of each year, commencing on September 30, 1996, the Servicer shall deliver to the Trustee and the Rating Agency a copy of such statement.

Financial Statements and Independent Accountant's Servicing Certificate Review. (a) The Servicer shall, not later than 90 days after the end of each fiscal year, commencing with the fiscal year commencing June 30, 1996, deliver to the DepositorTrustee, the Trustee Obligors' Agent and the Rating Agency each Series Support Provider, a copy of the Servicer's annual audited financial statements for such fiscal year, audited by a firm of nationally recognized independent certified public accountants (within the meaning of the Securities Act) (which, in the case of Xxxxxx, shall be the Independent Accountant). (b) The Servicer shall, within 60 45 days after the end of each of the first three calendar quarter, commencing with quarters of the quarter ending December 31, 1995Servicer's fiscal year, deliver to the DepositorObligors' Agent, the 39 45 Trustee and the Rating Agency each Series Support Provider, quarterly, unaudited financial statements of the Servicer for such calendar quarter. (c) The Servicer shall inform the DepositorObligors' Agent, the Rating Agency Trustee and the Trustee each Series Support Provider in writing, and the Trustee shall, upon written request, give notice to the Certificateholders, writing of the Servicer's fiscal year and any change in such fiscal year. (d) The On or before March 31 of each calendar year, beginning with March 31, 2002, the Servicer shall cause the Independent Accountant a firm of nationally recognized independent certified public accountants (who may also render other services to the Servicer) to furnish a report (addressed to the Trustee) to the Trustee, the Servicer and its Affiliates) to prepare a statement to the Trustee and the Rating Agency dated as of June 30, 1996, and annually as of the same month and day thereafter until the Certificate Principal Balance has been reduced to zero, each Series Support Provider to the effect that they have, for the Independent Accountant has examined one-year period ending on the servicing procedurespreceding December 31, manuals, guides and records of applied certain procedures agreed upon with the Servicer and to compare the accounts and records mathematical calculations of the Servicer relating to the Transferred Property and the Lease Files (which procedures, manuals, guides and records shall be described in one or more schedules to such statement), that the Independent Accountant has compared the information contained certain amounts set forth in the Servicer's Certificates delivered in pursuant to Section 6.06 hereof during the relevant period covered by such report with information contained in the accounts Servicer's computer reports which were the source of such amounts and records for such period, and that, that on the basis of such examination agreed-upon procedures and comparison, nothing has come to such accountants are of the Independent Accountant's attention to indicate that, during the relevant period, (i) the Servicer has not serviced the Transferred Property in compliance with such servicing procedures, manuals and guides and in the same manner required by the Servicer's standards and with the same degree of skill and care consistent with that which the Servicer customarily exercises with respect to similar property owned by it and otherwise in compliance with this Agreement, (ii) such accounts and records have not been maintained in accordance with Section 5.02 hereof, (iii) the information contained in the Servicer's Certificates does not reconcile with the information contained in such accounts and records or (iv) opinion that such certificates, accounts and records have not been properly prepared and maintained amounts are in all material respectsagreement, except in each case for (A) such exceptions as the Independent Accountant shall they believe to be immaterial and (B) such other exceptions as shall be set forth in such statement. On or before September 30 In the event such independent certified public accountants require the Trustee to agree to the procedures to be performed by such firm in any of each year, commencing on September 30, 1996the reports required to be prepared pursuant to this Section 6.08, the Servicer shall deliver to direct the Trustee in writing to so agree; it being understood and agreed that the Trustee will deliver such letter of agreement in conclusive reliance upon the direction of the Servicer, and the Rating Agency a copy Trustee has not made any independent inquiry or investigation as to, and shall have no obligation or liability in respect of, the sufficiency, validity or correctness of such statementprocedures.

Financial Statements and Independent Accountant's Servicing Certificate Review. (a) The Servicer shall, not later than 90 days after the end of each fiscal year, commencing with the fiscal year commencing June 30, 1996, deliver to the DepositorTrustee, the Trustee Obligors' Agent and the Rating Agency each Series Support Provider, a copy of the Servicer's annual audited financial statements for such fiscal year, audited by a firm of nationally recognized independent certified public accountants (within the meaning of the Securities Act) (which, in the case of Xxxxxx, shall be the Independent Accountant). (b) The Servicer shall, within 60 45 days after the end of each of the first three calendar quarter, commencing with quarters of the quarter ending December 31, 1995Servicer's fiscal year, deliver to the DepositorObligors' Agent, the 39 45 Trustee and the Rating Agency each Series Support Provider, quarterly, unaudited financial statements of the Servicer for such calendar quarter. (c) The Servicer shall inform the DepositorObligors' Agent, the Rating Agency Trustee and the Trustee each Series Support Provider in writing, and the Trustee shall, upon written request, give notice to the Certificateholders, writing of the Servicer's fiscal year and any change in such fiscal year. (d) The On or before March 31 of each calendar year, beginning with March 31, 2003, the Servicer shall cause the Independent Accountant a firm of nationally recognized independent certified public accountants (who may also render other services to the Servicer) to furnish a report (addressed to the Trustee) to the Trustee, the Servicer and its Affiliates) to prepare a statement to the Trustee and the Rating Agency dated as of June 30, 1996, and annually as of the same month and day thereafter until the Certificate Principal Balance has been reduced to zero, each Series Support Provider to the effect that they have, for the Independent Accountant has examined one-year period ending on the servicing procedurespreceding December 31, manuals, guides and records of applied certain procedures agreed upon with the Servicer and to compare the accounts and records mathematical calculations of the Servicer relating to the Transferred Property and the Lease Files (which procedures, manuals, guides and records shall be described in one or more schedules to such statement), that the Independent Accountant has compared the information contained certain amounts set forth in the Servicer's Certificates delivered in pursuant to Section 6.06 hereof during the relevant period covered by such report with information contained in the accounts Servicer's computer reports which were the source of such amounts and records for such period, and that, that on the basis of such examination agreed-upon procedures and comparison, nothing has come to such accountants are of the Independent Accountant's attention to indicate that, during the relevant period, (i) the Servicer has not serviced the Transferred Property in compliance with such servicing procedures, manuals and guides and in the same manner required by the Servicer's standards and with the same degree of skill and care consistent with that which the Servicer customarily exercises with respect to similar property owned by it and otherwise in compliance with this Agreement, (ii) such accounts and records have not been maintained in accordance with Section 5.02 hereof, (iii) the information contained in the Servicer's Certificates does not reconcile with the information contained in such accounts and records or (iv) opinion that such certificates, accounts and records have not been properly prepared and maintained amounts are in all material respectsagreement, except in each case for (A) such exceptions as the Independent Accountant shall they believe to be immaterial and (B) such other exceptions as shall be set forth in such statement. On or before September 30 In the event such independent certified public accountants require the Trustee to agree to the procedures to be performed by such firm in any of each year, commencing on September 30, 1996the reports required to be prepared pursuant to this Section 6.08, the Servicer shall deliver to direct the Trustee in writing to so agree; it being understood and agreed that the Trustee will deliver such letter of agreement in conclusive reliance upon the direction of the Servicer, and the Rating Agency a copy Trustee has not made any independent inquiry or investigation as to, and shall have no obligation or liability in respect of, the sufficiency, validity or correctness of such statementprocedures.

Financial Statements and Independent Accountant's Servicing Certificate Review. (a) The Servicer shall, not later than 90 days after the end of each fiscal year, commencing with the fiscal year commencing June 30, 1996, deliver to the DepositorTrustee, the Trustee and the Rating Agency a copy of the Servicer's (or, in the case of Advanta Business Services Corp., of Advanta Leasing Holding Corp.'s) annual audited financial statements for such fiscal year, audited by a firm of nationally recognized independent certified public accountants (within the meaning of the Securities Act) (which, in the case of Advanta Business Services Corp., shall be the Independent Accountant). (b) The Servicer shall, within 60 45 days after the end of each of the first three calendar quarter, commencing with quarter of the quarter ending December 31, 1995Servicer's fiscal year, deliver to the Depositor, the 39 45 Trustee Obligors' Agent and the Rating Agency Trustee, quarterly, unaudited financial statements of the Servicer (or, in the case of Advanta Business Services Corp., of Advanta Leasing Holding Corp.) for such calendar quarter. (c) The Servicer shall inform the Depositor, the Rating Agency Obligors' Agent and the Trustee in writing, and the Trustee shall, upon written request, give notice to the Certificateholders, writing of the Servicer's fiscal year and any change in such fiscal year. (d) The On or before March 31 of each calendar year, beginning with March 31, 1998, the Servicer shall cause the Independent Accountant a firm of nationally recognized independent public accountants (who may also render other services to the Servicer and its AffiliatesServicer) to prepare furnish a statement report (addressed to the Trustee) to the Trustee and the Rating Agency dated as of June 30, 1996, and annually as of the same month and day thereafter until the Certificate Principal Balance has been reduced to zero, Servicer to the effect that they have, for the Independent Accountant has examined one-year period ending on the servicing procedurespreceding March 31, manuals, guides and records of applied certain procedures agreed upon with the Servicer and the accounts and records Trustee to compare the mathematical calculations of the Servicer relating to the Transferred Property and the Lease Files (which procedures, manuals, guides and records shall be described in one or more schedules to such statement), that the Independent Accountant has compared the information contained certain amounts set forth in the Servicer's Certificates delivered in pursuant to Section 6.06 hereof during the relevant period covered by such report with information contained in the accounts Servicer's computer reports which were the source of such amounts and records for such period, and that, that on the basis of such examination agreed-upon procedures and comparison, nothing has come to such accountants are of the Independent Accountant's attention to indicate that, during the relevant period, (i) the Servicer has not serviced the Transferred Property in compliance with such servicing procedures, manuals and guides and in the same manner required by the Servicer's standards and with the same degree of skill and care consistent with that which the Servicer customarily exercises with respect to similar property owned by it and otherwise in compliance with this Agreement, (ii) such accounts and records have not been maintained in accordance with Section 5.02 hereof, (iii) the information contained in the Servicer's Certificates does not reconcile with the information contained in such accounts and records or (iv) opinion that such certificates, accounts and records have not been properly prepared and maintained amounts are in all material respectsagreement, except in each case for (A) such exceptions as the Independent Accountant shall they believe to be immaterial and (B) such other exceptions as shall be set forth in such statement. On or before September 30 of each year, commencing on September 30, 1996, the Servicer shall deliver to the Trustee and the Rating Agency a copy of such statement.