Common use of Trustee Exchange Act Reporting Requirements Clause in Contracts

Trustee Exchange Act Reporting Requirements. (a) On or before March 15 of each calendar year (or March 24 if there is no requirement to file a Form 10-K in that calendar year), the Trustee shall deliver to the Servicer and the Depositor a report regarding its assessment of compliance with the servicing criteria specified in paragraph (d) of Item 1122 of Regulation AB (§ 229.1122(d)), as of and for the period ending the end of each fiscal year, with respect to asset-backed security transactions taken as a whole involving the Trustee and that are backed by the same asset type as the Mortgage Loans. Each such report shall include all of the statements required to be provided under paragraph (a) of Item 1122 of Regulation AB (§ 229.1122(a)) as set forth in Exhibit T hereto. (b) On or before March 15 of each calendar year (or March 24 if there is no requirement to file a Form 10-K in that calendar year), the Trustee shall each deliver to the Servicer and the Depositor a report by a registered public accounting firm that attests to, and reports on, the assessment made by the Trustee pursuant to subsection (a) above. Each such report shall be made in accordance with standards for attestation engagements issued or adopted by the Public Company Accounting Oversight Board. (c) The Trustee shall promptly notify the Servicer and the Depositor of any legal proceedings pending against the Trustee of the type described in Item 1117 (§ 229.1117) of Regulation AB. (d) In order to comply with laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions, including those relating to the funding of terrorist activities and money laundering (“Applicable Law”), the Trustee is required to obtain, verify and record certain information relating to individuals and entities which maintain a business relationship with the Trustee. Accordingly, each of the parties agrees to provide to Trustee upon its request from time to time such identifying information and documentation as may be available for such party in order to enable the Trustee to comply with Applicable Law.

Trustee Exchange Act Reporting Requirements. (a) On or before March 15 of each calendar year (or March 24 if there is no requirement to file a Form 10-K in that calendar year), the Trustee shall deliver to the Master Servicer and the Depositor a report regarding its assessment of compliance with the servicing criteria specified in paragraph (d) of Item 1122 of Regulation AB (§ 229.1122(d)), as of and for the period ending the end of each fiscal year, with respect to asset-backed security transactions taken as a whole involving the Trustee and that are backed by the same asset type as the Mortgage Loans. Each such report shall include all of the statements required to be provided under paragraph (a) of Item 1122 of Regulation AB (§ 229.1122(a)) as set forth in Exhibit T hereto. (b) On or before March 15 of each calendar year (or March 24 if there is no requirement to file a Form 10-K in that calendar year), the Trustee shall each deliver to the Master Servicer and the Depositor a report by a registered public accounting firm that attests to, and reports on, the assessment made by the Trustee pursuant to subsection (a) above. Each such report shall be made in accordance with standards for attestation engagements issued or adopted by the Public Company Accounting Oversight Board. (c) The Trustee shall promptly notify the Master Servicer and the Depositor of any legal proceedings pending against the Trustee of the type described in Item 1117 (§ 229.1117) of Regulation AB. (d) In order to comply with laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions, including those relating to the funding of terrorist activities and money laundering (“Applicable Law”), the Trustee is required to obtain, verify and record certain information relating to individuals and entities which maintain a business relationship with the Trustee. Accordingly, each of the parties agrees to provide to Trustee upon its request from time to time such identifying information and documentation as may be available for such party in order to enable the Trustee to comply with Applicable Law.