Report from Custodial Agent Clause Samples
The "Report from Custodial Agent" clause requires the custodial agent to provide regular or specific reports regarding the assets or property held on behalf of another party. Typically, this involves the agent furnishing detailed statements or summaries of account activity, holdings, or transactions to the principal or beneficiary, often at set intervals or upon request. This clause ensures transparency and accountability in the management of assets, allowing the party with beneficial interest to monitor the status and performance of their holdings and to detect any discrepancies or issues promptly.
Report from Custodial Agent. Lender has received a satisfactory Certification of Custodian from the Custodial Agent pursuant to the Custodial Agreement with regard to the Notes Receivable which are the subject of the contemplated Advance.
Report from Custodial Agent. Lender shall have received a satisfactory Certification of Custodian from the Custodial Agent pursuant to the Custodial Agreement with regard to the Notes Receivable which are the subject of the contemplated Advance. In that regard, the parties acknowledge that the Custodial Agent may indicate an exception with regard to a particular Note Receivable but as a result of the definition of Eligible Notes Receivable, that particular Note Receivable may be eligible. For example, the Custodial Agent may have noted as an exception, the fact that a particular Purchaser has a FICO Score below 620. However, that particular Purchaser may qualify under the particular eligibility criteria dealing with 620/575 FICO Score Notes Receivable. Lender agrees, within 10 Business Days following receipt of such exception report, to evaluate such report with the Borrower and render as eligible any Notes Receivable shown as ineligible under the Custodial Agent's exception report to the extent such Note Receivable satisfies all of the criteria for an Eligible Note Receivable.