Common use of Quarterly Reports for the Trustee Clause in Contracts

Quarterly Reports for the Trustee. At least ten (10) Business Days preceding a Payment Date, the Administrator shall forward to the Trustee a report setting forth (i) the aggregate amount of Collections received by Administrator, if any, during the preceding quarter, (ii) a description of collection expenses or other sums, if any, for which Administrator is claiming reimbursement, and a description of any significant event occurring with respect to the Royalty Contracts during such period.

Quarterly Reports for the Trustee. At least ten (10) Business Days preceding a Payment Date, the Administrator shall forward to the Trustee a report setting forth (i) the aggregate amount of Collections received by Administrator, if any, during the preceding quarter, and (ii) a description of collection expenses or other sums, if any, for which Administrator is claiming reimbursement, and a description of any significant event occurring with respect to the Royalty Contracts during such period.