Common use of Summary Reports Clause in Contracts

Summary Reports. Purchaser or its Affiliate(s) shall provide summary reporting to HUD on the current status of the sale portfolio quarterly in the format provided in Exhibit B-1-2 (the “Post-Sale Report–2”) at the address provided for notices in Section 4.05. The initial reporting period begins on the Second Settlement Date and ends on the last day of the third calendar month following the Second Settlement Date. Thereafter the reporting periods begin on the first day of the calendar month following the end of the prior reporting period and end on the last day of the third calendar month following the prior reporting period. This periodic post sale reporting requirement ends after a total of sixteen (16) Post-Sale Reports have been delivered after the forty-eighth (48th) month following the Second Settlement Date. The Post Sale Reports are due by the twentieth (20th) Business Day of the month following the end of the applicable reporting period (“Post-Sale Reporting Period”).

Summary Reports. Purchaser or its Affiliate(s) shall provide summary reporting to HUD on the current status of the sale portfolio quarterly in the format provided in Exhibit B-1-2 NSO (the “Post-Sale Report–2Report”) at the address provided for notices in Section 4.05. The initial reporting period begins on the Second Settlement Date and ends on the last day of the third calendar month following the Second Settlement Date. Thereafter the reporting periods begin on the first day of the calendar month following the end of the prior reporting period and end on the last day of the third calendar month following the prior reporting period. This periodic post sale reporting requirement ends after a total of sixteen (16) Post-Sale Reports have been delivered after the forty-eighth (48th) month following the Second Settlement Date. The Post Sale Reports are due by the twentieth (20th) Business Day of the month following the end of the applicable reporting period (“Post-Sale Reporting Period”).