Master Servicer to Give Notice of Clause Samples

Master Servicer to Give Notice of. Certain Events and to ------------------------------------------------------- Deliver Certain Information. (a) The Master Servicer shall deliver to the --------------------------- Trustee and the Depositor as soon as available, but in any event within 120 days after the end of each of its fiscal years which ends December 31, a consolidated balance sheet of its parent company, as at such last day of the fiscal year, and a statement of income and retained earnings, for each such fiscal year, each prepared in accordance with GAAP, in reasonable detail, and certified without qualification by an Independent Public Accountant, who may also render other services to the Master Servicer, or any of its Affiliates and certified by the chief financial officer of its parent company as fairly presenting the financial position and the results of operations of its parent company as at and for the year ending on its date and as having been prepared in accordance with GAAP. For as long as the Master Servicer is Wilshire Servicing Corporation, the delivery of the financial statements of Wilshire Financial Services Group Inc. shall be deemed to satisfy the Master Servicer's obligations hereunder. (b) The Master Servicer shall, and shall cause any Servicer (to the extent such Person is in any manner receiving Collections) hereunder to, deliver to the Trustee, and the Depositor on or before March 31st of each year, beginning with March 31, 1998 an Officer's Certificate stating, as to each signer thereof, that (a) a review of the activities of the Master Servicer or the Servicer, as the case may be, during the preceding calendar year and of performance under this Agreement has been made under such officer's supervision and (b) to the best of such officer's knowledge, based on such review, the Master Servicer or Servicer, as the case may be, has fulfilled all its respective obligations under this Agreement throughout (c) The Master Servicer shall promptly (but in any event within three Business Days) notify the Trustee and the Depositor upon receiving actual knowledge of any event which constitutes an Event of Master Servicer Default. (d) The Trustee shall promptly deliver to each Rating Agency a copy of any report or certificate delivered to the Trustee pursuant to this Section 4.25 and notify each Rating Agency and each Holder of a Certificate upon obtaining knowledge of any event described in Section 4.25(c). (e) On or before the last day of June of each year, commencing in 19...
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Related to Master Servicer to Give Notice of

  • Failure to Give Notice An employee who fails to give notice required by Article 25.01, shall be struck from the payroll effective the day the employee is absent without leave, and shall have deducted from monies owed by the Employer, a sum equivalent to the salary payable to the employee for the period of notice which the employee failed to work.

  • Warrant Agent Not Required to Give Notice of Default The Warrant Agent shall not be bound to give any notice or do or take any act, action or proceeding by virtue of the powers conferred on it hereby unless and until it shall have been required so to do under the terms hereof; nor shall the Warrant Agent be required to take notice of any default hereunder, unless and until notified in writing of such default, which notice shall distinctly specify the default desired to be brought to the attention of the Warrant Agent and in the absence of any such notice the Warrant Agent may for all purposes of this Indenture conclusively assume that no default has been made in the observance or performance of any of the representations, warranties, covenants, agreements or conditions contained herein. Any such notice shall in no way limit any discretion herein given to the Warrant Agent to determine whether or not the Warrant Agent shall take action with respect to any default.

  • Trustee to Give Notice of Default, But May Withhold in Certain Circumstances The Trustee shall give to the Securityholders of any series, as the names and addresses of such Holders appear on the registry books, notice by mail of all defaults known to the Trustee which have occurred with respect to such series, such notice to be transmitted within 90 days after the occurrence thereof, unless such defaults shall have been cured before the giving of such notice (the term “default” or “defaults” for the purposes of this section being hereby defined to mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided that, except in the case of default in the payment of the principal of or interest on any of the Securities of such series, or in the payment of any sinking or purchase fund installment with respect to the Securities of such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the Securityholders of such series.

  • Trustee Not Required to Give Security The Trustee shall not be required to give any bond or security in respect of the execution of the trusts and powers of this Indenture or otherwise in respect of the premises.

  • Failure to Give Timely Notice A failure to give timely notice as provided in this Article 5 shall not affect the rights or obligations of any Party except and only to the extent that, as a result of such failure, any Party which was entitled to receive such notice was deprived of its right to recover any payment under its applicable insurance coverage or was otherwise directly and materially damaged as a result of such failure.