Independent Accountants' Reports. The Servicer shall cause a firm of nationally recognized independent certified public accountants (the "INDEPENDENT ACCOUNTANTS"), who may also render other services to the Servicer or to the Purchaser, to deliver to the Trustee, the Backup Servicer, the Note Purchasers and the Noteholders, on or before April 30 of each year beginning April 30, 2007, a report dated as of December 31 of the preceding year in form and substance reasonably acceptable to the Note Purchasers (the "ACCOUNTANTS' REPORT") and reviewing the Servicer's activities during the preceding 12-month period, addressed to the Board of Directors of the Servicer, to the Trustee, the Backup Servicer, the Note Purchasers and the Noteholders, to the effect that such firm has examined the financial statements of the Servicer and issued its report therefor and that such examination (1) was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as such firm considered necessary in the circumstances; (2) included tests relating to auto loans serviced for others in accordance with the requirements of the Uniform Single Attestation Program for Mortgage Bankers (the "PROGRAM"), to the extent the procedure in the Program are applicable to the servicing obligations set forth in this Agreement; (3) included an examination of the delinquency and loss statistics relating to the Servicer's portfolio of automobile and light truck installment sale contracts and promissory notes and security agreements; and (4) except as described in the report, disclosed no exceptions or errors in the records relating to automobile and light truck loans serviced for others that, in the firm's opinion, paragraph four of the Program requires such firm to report. The accountant's report shall further state that (1) a review in accordance with agreed upon procedures was made of two randomly selected Servicer's Certificates; (2) except as disclosed in the report, no exceptions or errors in the Servicer's Certificates were found; and (3) the delinquency and loss information relating to the Receivables and the stated amount of Liquidated Receivables, if any, contained in the Servicer's Certificates were found to be accurate. In the event such firm requires the Trustee and/or the Backup Servicer to agree to the procedures performed by such firm, the Servicer shall direct the Trustee and/or the Backup Servicer, as applicable, in writ...
Independent Accountants' Reports. BFC may cause a firm of nationally recognized independent accountants (who may also render services to HSBC TFS) to furnish, at the expense of BFC, a report to BFC and HSBC TFS to the effect that such firm has made a study and evaluation of the RAL Originator’s and HSBC TFS’s internal accounting controls relative to the making of Pool RACs and servicing of Participated Pool RALs under this Agreement, and that, on the basis of such study and evaluation, such firm is of the opinion (assuming the accuracy of any reports generated by the RAL Originator’s and HSBC TFS’s third party agents) that the systems of internal accounting controls in effect on the date set forth in such report relating to making of Pool RALs by the RAL Originator and servicing procedures performed by HSBC TFS as servicer for the RAL Originator pursuant to the terms of this Agreement, taken as a whole, were sufficient for the prevention and detection of errors for such exceptions, errors or irregularities as such firm shall believe to be immaterial to the financial statements of the RAL Originator and HSBC TFS and such other exceptions, errors or irregularities as shall be set forth in such report.
Independent Accountants' Reports. 17 SECTION 4.12. ACCOUNTANT'S REVIEW OF RECEIVABLES FILES........................................................17 SECTION 4.13. ACCESS TO CERTAIN DOCUMENTATION AND INFORMATION REGARDING RECEIVABLES...........................17 SECTION 4.14. VERIFICATION OF SERVICER'S CERTIFICATE..........................................................17 SECTION 4.15.
Independent Accountants' Reports. (a) Within thirty (30) days of the Closing Date, the Servicer shall, at its expense, cause the Independent Accountants to prepare a report, a form of which is attached as Exhibit B hereto, to the effect that such Independent Accountants have reviewed a statistically significant random sample (at the 95% confidence level) of the Custodian Files and that such reviewed Custodian Files are in the possession of the Subservicer and properly accounted for in the Subservicer's records.
Independent Accountants' Reports. BFC may cause a firm of nationally recognized independent accountants (who may also render services to Tax Masters) to furnish, at the expense of BFC, a report to BFC and Tax Masters to the effect that such firm has made a study and evaluation of the RAL Originator's and Tax Masters' internal accounting controls relative to the making of Pool RACs and servicing of Participated Pool RALs under this Agreement, and that, on the basis of such study and evaluation, such firm is of the opinion (assuming the accuracy of any reports generated by the RAL Originator's and Tax Masters' third party agents) that the systems of internal accounting controls in effect on the date set forth in such report relating to making of Pool RALs by the RAL Originator and servicing procedures performed by Tax Masters as servicer for the RAL Originator pursuant to the terms of this Agreement, taken as a whole, were sufficient for the prevention and detection of errors for such exceptions, errors or irregularities as such firm shall believe to be immaterial to the financial statements of the RAL Originator and Tax Masters and such other exceptions, errors or irregularities as shall be set forth in such report.
Independent Accountants' Reports. (a) Within thirty (30) days after the Prefunding Termination Date, the Servicer shall, at its expense, cause the Independent Accountants to prepare a report, a form of which is attached as Exhibit C hereto (which report shall also include as well the additional procedure of comparing the actual aging of the random sample portfolio to the aging number provided by the Custodian's system), to the effect that such Independent Accountants have reviewed a statistically significant random sample (at the 95% confidence level) of the Custodian Files and that such reviewed Custodian Files are in the possession of the Custodian and properly accounted for in the Custodian's records.
Independent Accountants' Reports. (a) Within thirty (30) days of the Closing Date, the Servicer shall, at its expense, cause the Independent Accountants to prepare a report, a form of which is attached as Exhibit A hereto (which report shall also include as well the additional procedure of comparing the actual aging of the random sample portfolio to the aging number provided by the Subservicer's system), to the effect that such Independent Accountants have reviewed a statistically significant random sample (at the 95% confidence level) of the Custodian Files and that such reviewed Custodian Files are in the possession of the Subservicer and properly accounted for in the Subservicer's records.
Independent Accountants' Reports. BFC may cause a firm of nationally recognized independent accountants (who may also render services to BNB) to furnish, at the expense of BFC, a report to BFC and BNB to the effect that such firm has made a study and evaluation of BNB's internal accounting controls relative to the making of Pool RACs and servicing of Participated Pool RALs under this Agreement, and that, on the basis of such study and evaluation, such firm is of the opinion (assuming the accuracy of any reports generated by BNB's third party agents) that the system of internal accounting controls in effect on the date set forth in such report relating to servicing procedures performed by BNB pursuant to the terms of this Agreement, taken as a whole, was sufficient for the prevention and detection of errors for such exceptions, errors or irregularities as such firm shall believe to be immaterial to the financial statements of BNB and such other exceptions, errors or irregularities as shall be set forth in such report.
Independent Accountants' Reports. (a) Within thirty (30) days of the Closing Date, the Servicer shall, at its expense, cause the Independent Accountants to prepare a report, a form of which is attached as Exhibit C hereto (which report shall also include as well the additional procedure of comparing the actual aging of the random sample portfolio to the aging number provided by the Collateral Agent's system), to the effect that such Independent Accountants have reviewed a statistically significant random sample (at the 95% confidence level) of the Collateral Agent Files and that such reviewed Collateral Agent Files are in the possession of the Collateral Agent and properly accounted for in the Collateral Agent's records.
Independent Accountants' Reports. 24 SECTION 4.12. Accountants' Review of Receivable Files...................................25 SECTION 4.13. Access to Certain Documentation and Information Regarding Receivables.....26 SECTION 4.14. Verification of Servicer's Certificate....................................26 SECTION 4.15. Retention and Termination of Servicer.....................................27 SECTION 4.16. Fidelity Bond.............................................................28 SECTION 4.17. Lien Searches; Opinions as to Transfers and Security Interests............28
