Common use of SERVICERS' FINANCIAL STATEMENTS; ANNUAL CERTIFICATION Clause in Contracts

SERVICERS' FINANCIAL STATEMENTS; ANNUAL CERTIFICATION. Within one hundred twenty (120) days after the end of each fiscal year beginning with the fiscal year ending December 31, 2003, each Servicer shall submit to the Trustee, the Noteholders and the Rating Agency a copy of its annual audited financial statements or in the event the Servicers are not PMC and/or PMCT, a copy of the annual audited consolidated financial statement of its parent. Within forty-five (45) days after the end of each of the first three (3) fiscal quarters of each fiscal year beginning with the quarter ending June 30, 2003, each Servicer shall submit to the Trustee, the Noteholders and the Rating Agency a copy of its quarterly financial statements. This Section 5.5 notwithstanding, if the Supervisory Servicer assumes the role of Servicer, it shall not be obligated to submit copies of its quarterly financial statements. Such financial statements shall, to the extent required by the Securities Exchange Act of 1934, as amended, whether or not the Servicer is subject to such Act, include a balance sheet, income statement, statement of retained earnings, beneficiaries' (or shareholders') equity, statement of cash flows and all related notes and schedules and shall be in comparative form. Contemporaneously with the submission of the financial statements required by the preceding paragraph, the Servicers shall deliver to the Trustee, the Noteholders and the Rating Agency an Officer's Certificate in the form attached hereto as Exhibit F to the effect that: (a) such officer has confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds or insurance required by Section 2.4 hereof are in full force and effect; and (b) the representations and warranties of such Servicer set forth in Section 2.1 are true and correct in all material respects as if made on the date of such certification. Such Servicer shall also furnish and certify such other information as to its organization, activities and personnel as the Trustee, the Noteholders, the Companies, the Rating Agency or the Supervisory Servicer may reasonably request from time to time.

SERVICERS' FINANCIAL STATEMENTS; ANNUAL CERTIFICATION. Within one hundred twenty (120) days after the end of each fiscal year beginning with the fiscal year ending December 31, 20032001, each Servicer shall submit to the Trustee, the Noteholders and the Rating Agency a copy of its annual audited financial statements or in the event the Servicers are not PMC and/or PMCT, a copy of the annual audited consolidated financial statement of its parent. Within forty-five (45) days after the end of each of the first three (3) fiscal quarters of each fiscal year beginning with the quarter ending June September 30, 20032001, each Servicer shall submit to the Trustee, the Noteholders and the Rating Agency a copy of its quarterly financial statements. This Section 5.5 notwithstanding, if the Supervisory Servicer assumes the role of Servicer, it shall not be obligated to submit copies of its quarterly financial statements. Such financial statements shall, to the extent required by the Securities Exchange Act of 1934, as amended, whether or not the Servicer is subject to such Act, include a balance sheet, income statement, statement of retained earnings, beneficiaries' (or shareholders') equity, statement of cash flows and all related notes and schedules and shall be in comparative form. Contemporaneously with the submission of the financial statements required by the preceding paragraph, the Servicers shall deliver to the Trustee, the Noteholders and the Rating Agency an Officer's Certificate in the form attached hereto as Exhibit F G to the effect that: (a) such officer has confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds or insurance required by Section 2.4 hereof are in full force and effect; and (b) the representations and warranties of such Servicer set forth in Section 2.1 are true and correct in all material respects as if made on the date of such certification. Such Servicer shall also furnish and certify such other information as to its organization, activities and personnel as the Trustee, the Noteholders, the Companies, Noteholders the Rating Agency or the Supervisory Servicer may reasonably request from time to time.

SERVICERS' FINANCIAL STATEMENTS; ANNUAL CERTIFICATION. Within one hundred twenty (120) days after the end of each fiscal year beginning with the fiscal year ending December 31, 20031999, each the Servicer shall submit to the Trustee, the Noteholders and the Rating Agency a copy of its annual audited financial statements or in the event the Servicers are Servicer is not PMC and/or PMCTPMC, a copy of the annual audited consolidated financial statement of its parent. Within forty-five (45) days after the end of each of the first three (3) fiscal quarters of each fiscal year beginning with the quarter ending June 30December 31, 20031999, each the Servicer shall submit to the Trustee, the Noteholders and the Rating Agency a copy of its quarterly financial statements. This Section 5.5 notwithstanding, if the Supervisory Servicer assumes the role of Servicer, it shall not be obligated to submit copies of its quarterly financial statements. Such financial statements shall, to the extent required by the Securities Exchange Act of 1934, as amended, whether or not the Servicer is subject to such Act, include a balance sheet, income statement, statement of retained earnings, beneficiaries' (or shareholders') equity, statement of cash flows and all related notes and schedules and shall be in comparative form. Contemporaneously with the submission of the financial statements required by the preceding paragraph, the Servicers Servicer shall deliver to the Trustee, the Noteholders and the Rating Agency an Officer's Certificate in the form attached hereto as Exhibit F G to the effect that: (a) such officer has confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds or insurance required by Section 2.4 hereof are in full force and effect; and (b) the representations and warranties of such the Servicer set forth in Section 2.1 are true and correct in all material respects as if made on the date of such certification. Such The Servicer shall also furnish and certify such other information as to its organization, activities and personnel as the Trustee, the Noteholders, the Companies, Noteholders the Rating Agency or the Supervisory Servicer may reasonably request from time to time.

SERVICERS' FINANCIAL STATEMENTS; ANNUAL CERTIFICATION. Within one hundred twenty (120) days after the end of each fiscal year beginning with the fiscal year ending December 31, 20032002, each Servicer shall submit to the Trustee, the Noteholders and the Rating Agency a copy of its annual audited financial statements or in the event the Servicers are not PMC and/or PMCT, a copy of the annual audited consolidated financial statement of its parent. Within forty-five (45) days after the end of each of the first three (3) fiscal quarters of each fiscal year beginning with the quarter ending June 30, 20032002, each Servicer shall submit to the Trustee, the Noteholders and the Rating Agency a copy of its quarterly financial statements. This Section 5.5 notwithstanding, if the Supervisory Servicer assumes the role of Servicer, it shall not be obligated to submit copies of its quarterly financial statements. Such financial statements shall, to the extent required by the Securities Exchange Act of 1934, as amended, whether or not the Servicer is subject to such Act, include a balance sheet, income statement, statement of retained earnings, beneficiaries' (or shareholders') equity, statement of cash flows and all related notes and schedules and shall be in comparative form. Within fifteen (15) days of filing with the Securities and Exchange Commission, each Servicer shall submit to the Noteholders, a copy of each Form 10-K, Form 10-Q and Form 8-K filing. Contemporaneously with the submission of the financial statements required by the preceding paragraph, the Servicers shall deliver to the Trustee, the Noteholders and the Rating Agency an Officer's Certificate in the form attached hereto as Exhibit F G to the effect that: (a) such officer has confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds or insurance required by Section 2.4 hereof are in full force and effect; and (b) the representations and warranties of such Servicer set forth in Section 2.1 are true and correct in all material respects as if made on the date of such certification. Such Servicer shall also furnish and certify such other information as to its organization, activities and personnel as the Trustee, the Noteholders, the Companies, Noteholders the Rating Agency or the Supervisory Servicer may reasonably request from time to time.

SERVICERS' FINANCIAL STATEMENTS; ANNUAL CERTIFICATION. Within one hundred twenty (120) days after the end of each fiscal year beginning with the fiscal year ending December 31, 20032001, each Servicer shall submit to the Trustee, the Noteholders and the Rating Agency a copy of its annual audited financial statements or in the event the Servicers are not PMC and/or PMCT, a copy of the annual audited consolidated financial statement of its parent. Within forty-five (45) days after the end of each of the first three (3) fiscal quarters of each fiscal year beginning with the quarter ending June 30December 31, 20032001, each Servicer shall submit to the Trustee, the Noteholders and the Rating Agency a copy of its quarterly financial statements. This Section 5.5 notwithstanding, if the Supervisory Servicer assumes the role of Servicer, it shall not be obligated to submit copies of its quarterly financial statements. Such financial statements shall, to the extent required by the Securities Exchange Act of 1934, as amended, whether or not the Servicer is subject to such Act, include a balance sheet, income statement, statement of retained earnings, beneficiaries' (or shareholders') equity, statement of cash flows and all related notes and schedules and shall be in comparative form. Contemporaneously with the submission of the financial statements required by the preceding paragraph, the Servicers shall deliver to the Trustee, the Noteholders and the Rating Agency an Officer's Certificate in the form attached hereto as Exhibit F G to the effect that: (a) such officer has confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds or insurance required by Section 2.4 hereof are in full force and effect; and (b) the representations and warranties of such Servicer set forth in Section 2.1 are true and correct in all material respects as if made on the date of such certification. Such Servicer shall also furnish and certify such other information as to its organization, activities and personnel as the Trustee, the Noteholders, the Companies, Noteholders the Rating Agency or the Supervisory Servicer may reasonably request from time to time.