Common use of Liquidation: Accounting and Reports Clause in Contracts

Liquidation: Accounting and Reports. When the Lender conducts the liquidation, it will account for funds during the period of liquidation and will provide the Government with periodic reports on the progress of liquidation, disposition of collateral, resulting costs and additional procedures necessary for successful completion of liquidation. The Lender will transmit to the Government any payments received from the Borrower and pro rata share of liquidation or other proceeds, etc. when the Government is the holder of a portion of the guaranteed loan using the appropriate Government form. When the Government liquidates, the Lender will be provided with similar reports on request.

Liquidation: Accounting and Reports. When the Lender conducts the liquidation, it will account for funds during the period of liquidation and will provide the Government with periodic reports on the progress of liquidation, disposition of collateral, resulting costs and additional procedures necessary for successful completion of liquidation. The Lender will transmit to the Government any payments received from the Borrower and pro rata share of liquidation or other proceeds, etc. when the Government is the holder of a portion of the guaranteed loan using the appropriate Government form. When the Government liquidates, the Lender will be provided with similar reports on request.

Liquidation: Accounting and Reports. When the Lender conducts the liquidation, it will account for funds during the period of liquidation and will provide the Government Reclamation with periodic reports on the progress of liquidation, disposition of collateral, resulting costs and additional procedures necessary for successful completion of liquidation. The Lender will transmit to Reclamation the Government pro rata share of any payments received from the Borrower Borrower, and pro rata share of liquidation or other proceeds, etc. when the Government is the holder of if Reclamation holds a portion of the guaranteed loan using the appropriate Government formloan. When the Government If Reclamation liquidates, the Lender will be provided with similar reports on request.