Common use of Statements to Purchaser Clause in Contracts

Statements to Purchaser. Not later than the 10th day of each calendar month, the Company shall furnish to the Purchaser or its designee (a) a Monthly Remittance Advice, with a trial balance report as to the Due Period in the month of remittance, and (b) a monthly default report as to the preceding calendar month, in each case, (i) by electronic medium, and (ii) in a form, mutually acceptable to the parties. In addition, not more than 60 days after the end of each calendar year, the Company shall furnish to each Person who was a Purchaser at any time during such calendar year an annual statement in accordance with the requirements of applicable federal income tax law as to the aggregate of remittances for the applicable portion of such year.