Common use of Servicer Reports Clause in Contracts

Servicer Reports. The Servicer shall deliver to the Managing Facility Agent, with sufficient copies for each Purchaser: (a) Within 45 days after the end of each of the first three fiscal quarters of the Servicer, beginning with the first such quarter to end after the Closing Date, a report with respect to such fiscal quarter, certified by a Responsible Officer (if the Seller is then the Servicer) or by the president or officer responsible for financial affairs of the Servicer, to the effect that the Servicer has reviewed its servicing, administration and collection of Purchased Receivables, Collections with respect thereto and the related Contracts and Financed Aircraft, that no errors and irregularities were detected with respect to such servicing, administration and collection and that such servicing, collection and administration was conducted in compliance with the applicable provisions of this Agreement; and (b) Within 90 days after the last day of each fiscal year of the Servicer, a report of a firm of nationally recognized independent public accountants (which may also render other services to the Servicer, the Seller or Raytheon or any Affiliate thereof) to the effect that (i) such firm has made a study and evaluation in accordance with generally accepted auditing standards of the Servicer's internal accounting controls relative to the servicing, administration and collection of Purchased Receivables, Collections with respect thereto and the related Contracts and Financed Aircraft, that such system of internal accounting controls then in effect with respect to such servicing procedures performed by the Servicer was sufficient for the prevention and detection of errors and irregularities and that such servicing, administration and collection of Purchased Receivables, Collections with respect thereto and the related Contracts and Financed Aircraft was conducted in compliance with the provisions of this Agreement and (ii) such firm has compared the mathematical calculations of amounts set forth on a statistically representative sample of Settlement Statements delivered with respect to each Settlement Period during such fiscal year with the Servicer's computer reports and other documents which were the source of such amounts and that on the basis of such comparison, such amounts are in agreement, except in either case as may be described in such report.

Servicer Reports. The Servicer shall deliver to the Managing Facility Agent, with sufficient copies for each Purchaser: (a) Within 45 days after the end of each of the first three fiscal quarters of the Servicer, beginning with the first such quarter to end after the Closing Date, a report with respect to such fiscal quarter, certified by a Responsible Officer (if the Seller is then the Servicer) or by the president or officer responsible for financial affairs of the Servicer, to the effect that the Servicer has reviewed its servicing, administration and collection of Purchased Receivables, Collections with respect thereto and the related Contracts and Financed Aircraft, that no errors and irregularities were detected with respect to such servicing, administration and collection and 77 that such servicing, collection and administration was conducted in compliance with the applicable provisions of this Agreement; and (b) Within 90 days after the last day of each fiscal year of the Servicer, a report of a firm of nationally recognized independent public accountants (which may also render other services to the Servicer, the Seller or Raytheon or any Affiliate thereof) to the effect that (i) such firm has made a study and evaluation in accordance with generally accepted auditing standards of the Servicer's internal accounting controls relative to the servicing, administration and collection of Purchased Receivables, Collections with respect thereto and the related Contracts and Financed Aircraft, that such system of internal accounting controls then in effect with respect to such servicing procedures performed by the Servicer was sufficient for the prevention and detection of errors and irregularities and that such servicing, administration and collection of Purchased Receivables, Collections with respect thereto and the related Contracts and Financed Aircraft was conducted in compliance with the provisions of this Agreement and (ii) such firm has compared the mathematical calculations of amounts set forth on a statistically representative sample of Settlement Statements delivered with respect to each Settlement Period during such fiscal year with the Servicer's computer reports and other documents which were the source of such amounts and that on the basis of such comparison, such amounts are in agreement, except in either case as may be described in such report.