Common use of Applicable Requirements Clause in Contracts

Applicable Requirements. 1. The servicing standards set forth in this Agreement and any modifications or other actions taken in accordance with these servicing standards are expressly subject to, and shall be interpreted in accordance with, (a) applicable federal, state, and local laws, rules, and regulations, including, but not limited to, any requirements of the state and federal banking regulators, (b) the terms of the applicable mortgage loan documents, (c) Section 201 of the Helping Families Save Their Homes Act of 2009, (d) the terms and provisions of the Servicer Participation Agreement with the Department of Treasury, (e) any servicing agreement, subservicing agreement under which Servicer services for others, special servicing agreement, mortgage or bond insurance policy or related agreement or requirements to which Servicer is a party and by which it or its servicing is bound pertaining to the servicing or ownership of the mortgage loans, including without limitation the requirements, binding directions, or investor guidelines of the applicable investor (such as Xxxxxx Xxx or Freddie Mac), mortgage or bond insurer, or credit enhancer, and (f) no- contact or cease-and-desist requests made by borrowers (collectively, the “Applicable Requirements”). 2. In the event of a conflict between the requirements of this Agreement and the Applicable Requirements with respect to any provision of this Agreement such that Servicer cannot comply without violating Applicable Requirements or being subject to adverse action, including fines and penalties, Servicer shall document the categories of such conflicts and notify the Executive Committee that it intends to comply with the Applicable Requirements to the extent necessary to eliminate the conflict. If the Executive Committee objects to Servicer’s assertion of the Applicable Requirements provision, the parties shall have a meet and confer within 20 days to discuss the dispute. 3. Unless otherwise specified, Servicer shall maintain all of the records, reports, data, and documentation referenced in this Agreement for the duration of this Agreement. Servicer shall maintain all of the call recordings referenced in Section VII.D.4 for a period of one year from the date of recording.

Applicable Requirements. 1. The servicing standards set forth in this Agreement and any modifications or other actions taken in accordance with these servicing standards are expressly subject to, and shall be interpreted in accordance with, (a) applicable federal, state, and local laws, rules, and regulations, including, but not limited to, any requirements of the state and federal banking regulators, (b) the terms of the applicable mortgage loan documents, (c) Section 201 of the Helping Families Save Their Homes Act of 2009, (d) the terms and provisions of the Servicer Participation Agreement with the Department of Treasury, (e) any servicing agreement, subservicing agreement under which Servicer services for others, special servicing agreement, mortgage or bond insurance policy or related agreement or requirements to which Servicer is a party and by which it or its servicing is bound pertaining to the servicing or ownership of the mortgage loans, including without limitation the requirements, binding directions, or investor guidelines of the applicable investor (such as Xxxxxx Xxx Mae or Freddie Xxxxxxx Mac), mortgage or bond insurer, or credit enhancer, and (f) no- contact or cease-and-desist requests made by borrowers (collectively, the “Applicable Requirements”). 2. In the event of a conflict between the requirements of this Agreement and the Applicable Requirements with respect to any provision of this Agreement such that Servicer cannot comply without violating Applicable Requirements or being subject to adverse action, including fines and penalties, Servicer shall document the categories of such conflicts and notify the Executive Committee that it intends to comply with the Applicable Requirements to the extent necessary to eliminate the conflict. If the Executive Committee objects to Servicer’s assertion of the Applicable Requirements provision, the parties shall have a meet and confer within 20 days to discuss the dispute. 3. Unless otherwise specified, Servicer shall maintain all of the records, reports, data, and documentation referenced in this Agreement for the duration of this Agreement. Servicer shall maintain all of the call recordings referenced in Section VII.D.4 for a period of one year from the date of recording.

Applicable Requirements. 1. The servicing standards set forth in this Agreement and any modifications or other actions taken in accordance with these servicing standards are expressly subject to, and shall be interpreted in accordance with, (a) applicable federal, state, and local laws, rules, and regulations, including, but not limited to, any requirements of the state and federal banking regulators, (b) the terms of the applicable mortgage loan documents, (c) Section 201 of the Helping Families Save Their Homes Act of 2009, (d) the terms and provisions of the Servicer Participation Agreement with the Department of Treasury, (e) any servicing agreement, subservicing agreement under which Servicer services for others, special servicing agreement, mortgage or bond insurance policy or related agreement or requirements to which Servicer is a party and by which it or its servicing is bound pertaining to the servicing or ownership of the mortgage loans, including without limitation the requirements, binding directions, or investor guidelines requirements of the applicable investor (such as Xxxxxx Xxx Mae or Freddie Xxxxxxx Mac), mortgage or bond insurer, or credit enhancer, and (f) no- contact or cease-and-desist requests made by borrowers (collectively, the “Applicable Requirements”). 2. In the event of a conflict between the requirements of this Agreement and the Applicable Requirements with respect to any provision of this Agreement such that Servicer cannot comply without violating Applicable Requirements or being subject to adverse action, including fines and penalties, Servicer shall document the categories of such conflicts and notify the Executive Committee that it intends to comply with the Applicable Requirements to the extent necessary to eliminate the conflict. If the Executive Committee objects to Servicer’s assertion of the Applicable Requirements provision, the parties shall have a meet and confer within 20 days to discuss the dispute. 3. Unless otherwise specified, Servicer shall maintain all of the records, reports, data, and documentation referenced in this Agreement for the duration of this Agreement. Servicer shall maintain all of the call recordings referenced in Section VII.D.4 for a period of one year from the date of recording.

Applicable Requirements. 1. The servicing standards set forth in this Agreement and any modifications or other actions taken in accordance with these servicing standards are expressly subject to, and shall be interpreted in accordance with, (a) applicable federal, state, and local laws, rules, and regulations, including, but not limited to, any requirements of the state and federal banking regulators, (b) the terms of the applicable mortgage loan documents, (c) Section 201 of the Helping Families Save Their Homes Act of 2009, (d) the terms and provisions of the Servicer Participation Agreement with the Department of Treasury, (e) any servicing agreement, subservicing agreement under which Servicer services for others, special servicing agreement, mortgage or bond insurance policy or related agreement or requirements to which Servicer is a party and by which it or its servicing is bound pertaining to the servicing or ownership of the mortgage loans, including without limitation the requirements, binding directions, or investor guidelines of the applicable investor (such as Xxxxxx Xxx or Freddie Mac), mortgage or bond insurer, or credit enhancer, and (f) no- contact or cease-and-desist requests made by borrowers (collectively, the “Applicable Requirements”).the 2. In the event of a conflict between the requirements of this Agreement and the Applicable Requirements with respect to any provision of this Agreement such that Servicer cannot comply without violating Applicable Requirements or being subject to adverse action, including fines and penalties, Servicer shall document the categories of such conflicts and notify the Executive Committee that it intends to comply with the Applicable Requirements to the extent necessary to eliminate the conflict. If the Executive Committee objects to Servicer’s assertion of the Applicable Requirements provision, the parties shall have a meet and confer within 20 days to discuss the dispute. 3. Unless otherwise specified, Servicer shall maintain all of the records, reports, data, and documentation referenced in this Agreement for the duration of this Agreement. Servicer shall maintain all of the call recordings referenced in Section VII.D.4 for a period of one year from the date of recording.

Applicable Requirements. 1. The servicing standards set forth in this Agreement and any modifications or other actions taken in accordance with these servicing standards are expressly subject to, and shall be interpreted in accordance with, (a) applicable federal, state, and local laws, rules, and regulations, including, but not limited to, any requirements of the state and federal banking regulators, (b) the terms of the applicable mortgage loan documents, (c) Section 201 of the Helping Families Save Their Homes Act of 2009, (d) the terms and provisions of the Servicer Participation Agreement with the Department of Treasury, (e) any servicing agreement, subservicing agreement under which Servicer services for others, special servicing agreement, mortgage or bond insurance policy or related agreement or requirements to which Servicer is a party and by which it or its servicing is bound pertaining to the servicing or ownership of the mortgage loans, including without limitation the requirements, binding directions, or investor guidelines of the applicable investor (such as Xxxxxx Xxx or Freddie Xxxxxxx Mac), mortgage or bond insurer, or credit enhancer, and (f) no- contact or cease-and-desist requests made by borrowers (collectively, the “Applicable Requirements”).the 2. In the event of a conflict between the requirements of this Agreement and the Applicable Requirements with respect to any provision of this Agreement such that Servicer cannot comply without violating Applicable Requirements or being subject to adverse action, including fines and penalties, Servicer shall document the categories of such conflicts and notify the Executive Committee that it intends to comply with the Applicable Requirements to the extent necessary to eliminate the conflict. If the Executive Committee objects to Servicer’s assertion of the Applicable Requirements provision, the parties shall have a meet and confer within 20 days to discuss the dispute. 3. Unless otherwise specified, Servicer shall maintain all of the records, reports, data, and documentation referenced in this Agreement for the duration of this Agreement. Servicer shall maintain all of the call recordings referenced in Section VII.D.4 for a period of one year from the date of recording.