Accounts Accountings and Releases Sample Clauses
The "Accounts, Accountings and Releases" clause establishes the requirement for a party, often a trustee or agent, to maintain and periodically provide detailed records of financial transactions and activities related to the administration of assets or funds. In practice, this clause typically obligates the responsible party to prepare statements or reports showing receipts, disbursements, and current holdings, and to deliver these to beneficiaries or other interested parties at specified intervals. Its core function is to ensure transparency and accountability in financial management, while also providing a mechanism for beneficiaries to review, approve, or raise objections to the reported accounts, thereby reducing the risk of disputes and clarifying the parties' rights and obligations.
Accounts Accountings and Releases. The terms and provisions set forth on Schedule F hereto are incorporated herein and shall apply for all purposes of this Agreement and the other Transaction Documents.
Accounts Accountings and Releases. Section 12.1. Collection of Money ------------------- In accordance with the terms and conditions set forth herein, the Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Trustee pursuant to this Indenture and in accordance with the Servicing Agreement. The Trustee shall hold all such money and property so received by it as part of the Trust Estate and shall apply it as provided in this Indenture. If any default occurs in the making of any payment or performance under any Mortgage Loan, the Trustee, upon Company or Servicer Request may, and upon the written request of the Holders of more than 50% of the aggregate Outstanding Note Balance of any Class of Notes shall subject to Section 7.1, take such action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim an Event of Default under this Indenture and to proceed thereafter as provided in Article Six.
Accounts Accountings and Releases. 76 Section 10.1. Collection of Money; General Account Requirements.....76 Section 10.2.
Accounts Accountings and Releases