Common use of Adherence to Servicing Standards Clause in Contracts

Adherence to Servicing Standards. Unless otherwise consented to by the Administrative Agent and the Administrator (the following collectively, the “Servicing Standards”): (i) the Servicer shall continue to make Advances and seek reimbursement of Advances and payment of Deferred Servicing Fees in accordance with the terms of the related Designated Servicing Agreement; (ii) to the extent permitted by the related Designated Servicing Agreement, the Servicer shall apply all Advance Reimbursement Amounts on a “first-in, first out” or “FIFO” basis such that the Advances of a particular type that were disbursed first in time or the Deferred Servicing Fees of a particular type that were accrued first in time will be reimbursed or paid prior to the Advances of the same type with respect to that Mortgage Loan that were disbursed later in time or the Deferred Servicing Fees with respect to that Mortgage Loan that were accrued later in time; (iii) the Servicer shall identify on its systems and in its records that the Issuer is the owner of each Receivable and that such Receivable has been pledged to the Indenture Trustee; (iv) the Servicer shall maintain systems and operating procedures necessary to comply with all of the terms of the Transaction Documents; (v) the Servicer shall cooperate with the Indenture Trustee acting as Calculation Agent in its duties set forth in the Transaction Documents; (vi) the Servicer shall cooperate with the Verification Agent in its duties set forth in the Transaction Documents; (vii) the Servicer shall maintain, or cause to be maintained, accurate records with respect to the Mortgage Loans in each Mortgage Pool reflecting the status of all Judicial P&I Advances, Non-Judicial P&I Advances, Judicial Corporate Advances, Non-Judicial Corporate Advances, Judicial Escrow Advances, Non-Judicial Escrow Advances, Judicial Deferred Servicing Fees and Non-Judicial Deferred Servicing Fees for such Mortgage Pool, including the cumulative recoveries related to such P&I Advances, Corporate Advances, Escrow Advances and Deferred Servicing Fees; and (viii) the Servicer shall service all Mortgage Loans related to all Mortgage Pools in accordance with the terms of the related Servicing Agreement without regard to any ownership of any securities issued by the related Mortgage Pool. Notwithstanding the foregoing or anything otherwise herein to the contrary, any Subservicer may perform any of the tasks or duties described above, herein or otherwise under any applicable Designated Servicing Agreement so long as the Administrative Agent shall have consented to the related subservicing arrangement in its sole and absolute discretion.

Adherence to Servicing Standards. Unless otherwise consented to by the Administrative Agent and the Administrator (the following collectively, the “Servicing Standards”): (i) the Servicer shall continue to make Advances and seek reimbursement of Advances and payment of Deferred Servicing Fees in accordance with the terms of the related Designated Servicing Agreement; (ii) to the extent permitted by the related Designated Servicing Agreement, the Servicer shall apply all Advance Reimbursement Amounts on a “first-in, first out” or “FIFO” basis such that the Advances of a particular type that were disbursed first in time or the Deferred Servicing Fees of a particular type that were accrued first in time will be reimbursed or paid prior to the Advances of the same type with respect to that Mortgage Loan that were disbursed later in time or the Deferred Servicing Fees with respect to that Mortgage Loan that were accrued later in time; (iii) the Servicer shall identify on its systems and in its records that the Issuer is the owner of each Receivable and that such Receivable has been pledged to the Indenture Trustee; (iv) the Servicer shall maintain systems and operating procedures necessary to comply with all of the terms of the Transaction Documents; (v) the Servicer shall cooperate with the Indenture Trustee acting as Calculation Agent in its duties set forth in the Transaction Documents; (vi) the Servicer shall cooperate with the Verification Agent in its duties set forth in the Transaction Documents; (vii) the Servicer shall maintain, or cause to be maintained, accurate records with respect to the Mortgage Loans in each Mortgage Pool reflecting the status of all Judicial P&I Advances, Non-Judicial P&I Advances, Judicial Corporate Advances, Non-Judicial Corporate Advances, Judicial Escrow Advances, Non-Judicial Escrow Advances, Judicial Deferred Servicing Fees and Non-Judicial Deferred Servicing Fees for such Mortgage Pool, including the cumulative recoveries related to such P&I Advances, Corporate Advances, Escrow Xxxxxx Advances and Deferred Servicing Fees; and (viii) the Servicer shall service all Mortgage Loans related to all Mortgage Pools in accordance with the terms of the related Servicing Agreement without regard to any ownership of any securities issued by the related Mortgage Pool. Notwithstanding the foregoing or anything otherwise herein to the contrary, any Subservicer may perform any of the tasks or duties described above, herein or otherwise under any applicable Designated Servicing Agreement so long as the Administrative Agent shall have consented to the related subservicing arrangement in its sole and absolute discretion.

Adherence to Servicing Standards. Unless otherwise consented to by the Administrative Agent and the Administrator (the following collectively, the “Servicing Standards”): (i) the Servicer shall continue to make Advances and seek reimbursement of Advances and payment of Deferred Servicing Fees in accordance with the terms of the related Designated Servicing Agreement; (ii) subject to clause (l) below, to the extent permitted by the related Designated Servicing Agreement, the Servicer shall apply all Advance Reimbursement Amounts on a “first-in, first out” or “FIFO” basis such that the Advances of a particular type that were disbursed first in time or the Deferred Servicing Fees of a particular type that were accrued first in time will be reimbursed or paid prior to the Advances of the same type with respect to that Mortgage Loan that were disbursed later in time or the Deferred Servicing Fees with respect to that Mortgage Loan that were accrued later in time; (iii) the Servicer shall identify on its systems and in its records that the Issuer is the owner of each Receivable and that such Receivable has been pledged to the Indenture Trustee; (iv) the Servicer shall maintain systems and operating procedures necessary to comply with all of the terms of the Transaction Documents; (v) the Servicer shall cooperate with the Indenture Trustee acting as Calculation Agent in its duties set forth in the Transaction Documents; (vi) the Servicer shall cooperate with the Verification Agent in its duties set forth in the Transaction Documents; (vii) the Servicer shall maintain, or cause to be maintained, accurate records with respect to the Mortgage Loans in each Mortgage Pool reflecting the status of all each of the Judicial P&I Advances, Non-Judicial P&I Advances, Judicial Escrow Advances, Non-Judicial Escrow Advances, Judicial Corporate Advances, Non-Judicial Corporate Advances, Judicial Escrow Advances, Non-Judicial Escrow Advances, Judicial Deferred Servicing Fees and Non-Judicial Deferred Servicing Fees, in each case, that are not attributable to Second-Lien Receivables; and (b) each of the foregoing categories of Advances and Deferred Servicing Fees for that are attributable to Second-Lien Receivables, in each case attributable to such Mortgage Pool, including the cumulative recoveries related to such P&I Advances, Corporate Advances, Escrow Advances and Deferred Servicing Fees; and (viii) the Servicer shall service all Mortgage Loans related to all Mortgage Pools in accordance with the terms of the related Servicing Agreement without regard to any ownership of any securities issued by the related Mortgage Pool. Notwithstanding the foregoing or anything otherwise herein to the contrary, any Subservicer may perform any of the tasks or duties described above, herein or otherwise under any applicable Designated Servicing Agreement so long as the Administrative Agent shall have consented to the related subservicing arrangement in its sole and absolute discretion.

Adherence to Servicing Standards. Unless otherwise consented to by the Administrative Agent and the Administrator (The Servicer shall comply at all times with the following (collectively, the “Servicing Standards”): (i) the Servicer shall continue to make Advances and seek reimbursement of Advances and payment of Deferred Servicing Fees in accordance with the terms of the related Designated Servicing AgreementContract and the Xxxxxx Mae Guide or Xxxxxxx Mac Guide, as applicable; (ii) to the extent permitted by the related Designated Servicing AgreementXxxxxx Mae Guide or Xxxxxxx Mac Guide, as applicable, the Servicer shall apply all Advance Reimbursement Amounts on a “first-in, first out” or “FIFO” basis such that the Advances of a particular type that were disbursed first in time or the Deferred Servicing Fees of a particular type that were accrued first in time will be reimbursed or paid prior to the Advances of the same type with respect to that Mortgage Loan that were disbursed later in time or the Deferred Servicing Fees with respect to that Mortgage Loan that were accrued later in time; (iii) the Servicer shall identify on its systems and in its records that the Issuer is as the owner of each Receivable and that such Receivable has been pledged to the Indenture Trustee; (iv) the Servicer shall maintain systems and operating procedures necessary to comply with all of the terms of the Transaction Documents; (v) the Servicer shall cooperate with the Indenture Trustee acting as Calculation Agent in its duties set forth in the Transaction Documents;; and (vi) the Servicer shall cooperate with make all Advances within the Verification Agent in its duties set forth in time period required under the Transaction Documents; (vii) the Servicer shall maintainrelated Designated Servicing Contract, unless such failure to make any Advances results from inadvertence and is remedied on or cause to be maintained, accurate records with respect prior to the Mortgage Loans in each Mortgage Pool reflecting the status of all Judicial P&I Advances, Non-Judicial P&I Advances, Judicial Corporate Advances, Non-Judicial Corporate Advances, Judicial Escrow Advances, Non-Judicial Escrow Advances, Judicial Deferred Servicing Fees and Non-Judicial Deferred Servicing Fees related distribution date for such Mortgage Pool, including the cumulative recoveries related to such P&I Advances, Corporate Advances, Escrow Advances and Deferred Servicing Fees; and (viii) the Servicer shall service all Mortgage Loans related to all Mortgage Pools in accordance with the terms of the related Servicing Agreement without regard to any ownership of any securities issued by the related Mortgage Pool. Notwithstanding the foregoing or anything otherwise herein to the contrary, any Subservicer may perform any of the tasks or duties described above, herein or otherwise under any applicable Designated Servicing Agreement Contract so long as the Administrative Agent shall have consented to the related subservicing arrangement in its sole and absolute discretionSubservicer is an Eligible Subservicer.