Subservicer Financial Statements Clause Samples

Subservicer Financial Statements. The Servicer will submit to the Administrative Agent: (i) within 90 days after the end of each fiscal year of the Subservicer, the audited consolidated balance sheet and related statements of operations, members’ equity and cash flows of the Subservicer and its subsidiaries as of the end of and for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on by the Subservicer’s independent public accountants to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of operations of the Subservicer and its subsidiaries on a consolidated basis in accordance with GAAP consistently applied; provided that for any fiscal year prior to the first fiscal year in respect of which the Subservicer prepares audited financial statements, the Servicer may, in lieu thereof, submit to the Administrative Agent (A) within 90 days after the end of each fiscal year of the Subservicer, its unaudited consolidated balance sheet and related statements of operations, members’ equity and cash flows of the Subservicer and its subsidiaries as of the end of and for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all reviewed by the Subservicer’s independent public accountants who have confirmed that, as a result of such review, no material modifications would need to be made therein so that the information is presented in conformity with GAAP consistently applied, and (B) within five (5) Business Days after the date of filing or, if earlier, the date on which the same is required to be filed (giving effect to any available extensions), a copy of the Subservicer’s United States federal income tax returns or reports for such fiscal year; and (ii) within 45 days after the end of each of the first three fiscal quarters of each fiscal year of the Subservicer, the consolidated balance sheet and related statements of operations, members’ equity and cash flows of the Subservicer and its subsidiaries as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for (or, in the case of the balance sheet, as of the end of) the corresponding period or periods of the previous fiscal year, all certified by the chief financial officer of the Subservicer as presenting fairly in all material respects the financial cond...

Subservicer Financial Statements. The Servicer will submit to the Documentation Agent within 90 days after the end of each fiscal year of the Subservicer, the consolidated balance sheet and related statements of operations, members’ equity and cash flows of the Subservicer and its subsidiaries as of the end of and for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year.