Common use of Distressed Mortgage Loans Clause in Contracts

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure.

Appears in 5 contracts

Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2006-16n), Reconstituted Servicing Agreement (Lehman XS 2007-4n), Reconstituted Servicing Agreement (Lehman XS Trust Series 2006-14n)

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Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSAFlow Agreement, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSAFlow Agreement. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Xxxxx Xxxxxxx Title: Authorized Signatory GREENPOINT MORTGAGE FUNDING, INC., as Servicer By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Xxxxxx X. Xxxxxx Title: Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee By: Name: Title: EXHIBIT A Modifications to the Flow Agreement

Appears in 3 contracts

Samples: Reconstituted Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Ar5), Reconstituted Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Ar4), Reconstituted Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Ar8)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSAFlow Agreement, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSAFlow Agreement. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Xxxxx Xxxxxxx Title: Authorized Signatory GREENPOINT MORTGAGE FUNDING, INC., as Servicer By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Xxxxx X. Xxxxxxx Title: Senior Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee By: Name: Title: EXHIBIT A Modifications to the Flow Agreement

Appears in 3 contracts

Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2007-12n), Reconstituted Servicing Agreement (GreenPoint Mortgage Funding Trust 2007-Ar3), Reconstituted Servicing Agreement (Greenpoint Mortgage Funding Trust 2007-Ar1)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSA. The Trustee (or the Custodian on its behalf) and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure.

Appears in 3 contracts

Samples: Reconstituted Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-5), Reconstituted Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-9), Reconstituted Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-7)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSAFlow Agreement. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSAFlow Agreement, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSAFlow Agreement. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By:___________________________ Name: Xxxxx Xxxxxxx Title: Authorized Signatory GREENPOINT MORTGAGE FUNDING, INC., as Servicer By:___________________________ Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By:___________________________ Name: Xxxxx X. Xxxxxxx Title: Senior Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee By:___________________________ Name: Xxxxxx X. Xxxxxxx Title: Vice President EXHIBIT A Modifications to the Flow Agreement

Appears in 2 contracts

Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2006-Gp2), Reconstituted Servicing Agreement (Lehman XS Trust Series 2006-Gp2)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Xxxxx Xxxxxxx Title: Authorized Signatory COUNTRYWIDE HOME LOANS SERVICING LP, as Servicer By: Countrywide GP, Inc., its General Partner By: Name: Title: COUNTRYWIDE HOME LOANS, INC. By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Xxxxx X. Xxxxxxx Title: Senior Vice President XXXXX FARGO BANK, N.A. as Trustee By: Name: Title: EXHIBIT A Modifications to the SWSA

Appears in 2 contracts

Samples: Reconstituted Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-3), Reconstituted Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-1)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Xxxxx Xxxxxxx Title: Authorized Signatory COUNTRYWIDE HOME LOANS SERVICING LP, as Servicer By: Countrywide GP, Inc., its General Partner By: Name: Title: COUNTRYWIDE HOME LOANS, INC. By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Xxxxxx X. Xxxxxx Title: Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee By: Name: Title: EXHIBIT A Modifications to the SWSA

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-12)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s 's (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. [SIGNATURE PAGES IMMEDIATELY FOLLOW] Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By:_______________________________ Name: Xxxxx Xxxxxxx Title: Authorized Signatory INDYMAC BANK, F.S.B., as Servicer By:_______________________________ Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: ____________________________________ Name: E. Xxxx Xxxxxxxxxx Title Executive Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee By:_______________________________________ Name: Xxxxx X. Xxxxxxxxx Title: Assistant Vice President EXHIBIT A Modifications to the SWSA

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2005-5n)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSAFPWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSAFPWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSAFPWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. [SIGNATURE PAGE IMMEDIATELY FOLLOWS] 5 Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Xxxxx Xxxxxxx Title: Authorized Signatory AMERICAN HOME MORTGAGE CORP. as Servicer By: Name: Title: Acknowledged By: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Xxxxxxx Xxxx Title: Senior Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee and not individually By:___________________ Name: Title: EXHIBIT A Modifications to the Flow Mortgage Loan Purchase, Warranties and Servicing Agreement

Appears in 1 contract

Samples: Servicing Agreement

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSAFlow Agreement, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSAFlow Agreement. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Xxxxx Xxxxxxx Title: Authorized Signatory GREENPOINT MORTGAGE FUNDING, INC., as Servicer By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Xxxxxxx Xxxx Title: Senior Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee By: Name: Title: EXHIBIT A Modifications to the 2006 Flow Agreement and the 2007 Flow Agreement Unless otherwise specified, the modifications described below shall apply equally to each Flow Agreement.

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2007-15n)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the applicable SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the applicable SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the applicable SWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. LXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Exxxx Xxxxxxx Title: Authorized Signatory COUNTRYWIDE HOME LOANS SERVICING LP, as Servicer By: Countrywide GP, Inc., its General Partner By: Name: Title: COUNTRYWIDE HOME LOANS, INC. By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Jxxxxx X. Xxxxxx Title: Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee and not individually By: Name: Title: EXHIBIT A Modifications to the 2004 SWSA and the 2006 SWSA

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2006-18n)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSA. The Trustee (or the Custodian on its behalf) and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Title: GREENPOINT MORTGAGE FUNDING, INC., as Servicer By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Title: HSBC BANK USA, NATIONAL ASSOCIATION, not in its individual capacity but solely as Trustee By: __________________________ Name: Title: EXHIBIT A Modifications to the PWSA

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-5)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Xxxxx Xxxxxxx Title: Authorized Signatory COUNTRYWIDE HOME LOANS SERVICING LP, as Servicer By: Countrywide GP, Inc., its General Partner By: Name: Title: COUNTRYWIDE HOME LOANS, INC. By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Xxxxx X. Xxxxxxx Title: Senior Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee and not individually By: Name: Title: EXHIBIT A Modifications to the SWSA

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman XS 2007-4n)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s 's (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure.

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2006-10n)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. LXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Exxxx Xxxxxxx Title: Authorized Signatory COUNTRYWIDE HOME LOANS SERVICING LP, as Servicer By: Countrywide GP, Inc., its General Partner By: Name: Title: COUNTRYWIDE HOME LOANS, INC. By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Jxxxxx X. Xxxxxx Title: Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee and not individually By: Name: Jxxxx X. Xxxxxx Title: Vice President EXHIBIT A

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2006-12n)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSAMLSSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s 's (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSAMLSSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSAMLSSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A "Distressed Mortgage Loan is Loan" is, as of any Determination Date Date, a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: ----------------------------------- Name: Xxxxx Xxxxxxx Title: Authorized Signatory BANK OF AMERICA, NATIONAL ASSOCIATION, as Servicer By: ----------------------------------- Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: ---------------------------------- Name: Xxxxxx X. Xxxxxx Title: Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee and not individually By: ---------------------------------- Name: Xxxxxxxxx Xxxxxx Title: Assistant Vice President EXHIBIT A Modifications to the MLSSA

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2006-10n)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Xxxxx Xxxxxxx Title: Authorized Signatory COUNTRYWIDE HOME LOANS SERVICING LP, as Servicer By: Countrywide GP, Inc., its General Partner By: Name: Title: COUNTRYWIDE HOME LOANS, INC. By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Xxxxxxx Xxxx Title: Senior Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee and not individually By: Name: Title: EXHIBIT A Modifications to the SWSA

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2007-15n)

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Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Xxxxx Xxxxxxx Title: Authorized Signatory COUNTRYWIDE HOME LOANS SERVICING LP, as Servicer By: Countrywide GP, Inc., its General Partner By: Name: Title: COUNTRYWIDE HOME LOANS, INC. By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Xxxxx X. Xxxxxxx Title: Senior Vice President U.S. BANK NATIONAL ASSOCIATION, as Trustee By: Name: Title: EXHIBIT A Modifications to the SWSA

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2007-7n)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the applicable SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s 's (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the applicable SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the applicable SWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. [SIGNATURE PAGES IMMEDIATELY FOLLOW] Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: ------------------------------------ Name: Xxxxx Xxxxxxx Title: Authorized Signatory COUNTRYWIDE HOME LOANS SERVICING LP, as Servicer By: Countrywide GP, Inc., its General Partner By: ------------------------------------ Name: Title: COUNTRYWIDE HOME LOANS, INC. By: ------------------------------------ Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: --------------------------------- Name: Xxxxxx X. Xxxxxx Title: Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee and not individually By: --------------------------------- Name: Xxxxxxxxx Xxxxxx Title: Assistant Vice President EXHIBIT A Modifications to the 2004 SWSA and the 2006 SWSA

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2006-10n)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSAFlow Agreement. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSAFlow Agreement, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSAFlow Agreement. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. LXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Exxxx Xxxxxxx Title: Authorized Signatory GREENPOINT MORTGAGE FUNDING, INC., as Servicer By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Lxxxx X. Xxxxxxx Title: Senior Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee By: Name: Vxxxxx X. Xxxxxxx Title: Vice President EXHIBIT A Modifications to the Flow Agreement

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-12)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Xxxxx Xxxxxxx Title: Authorized Signatory COUNTRYWIDE HOME LOANS SERVICING LP, as Servicer By: Countrywide GP, Inc., its General Partner By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Xxxxx X Xxxxxxx Title: Senior Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee By: Name: Xxxxxx X. Xxxxxxx Title: Vice President EXHIBIT A Modifications to the SWSA

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2006-4n)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSAFlow Agreement. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSAFlow Agreement, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSAFlow Agreement. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Xxxxx Xxxxxxx Title: Authorized Signatory GREENPOINT MORTGAGE FUNDING, INC., as Servicer By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Xxxxx X Xxxxxxx Title: Senior Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee By: Name: Xxxxxx X. Xxxxxxx Title: Vice President EXHIBIT A Modifications to the Flow Agreement

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2006-4n)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the applicable SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the applicable SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the applicable SWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure.

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2006-12n)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSA. The Trustee (or the Custodian on its behalf) and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. 5 Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Title: GREENPOINT MORTGAGE FUNDING, INC., as Servicer By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Title: HSBC BANK USA, NATIONAL ASSOCIATION, not in its individual capacity but solely as Trustee By: __________________________ Name: Title: EXHIBIT A Modifications to the PWSA

Appears in 1 contract

Samples: Servicing Agreement

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s 's (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. [SIGNATURE PAGES IMMEDIATELY FOLLOW] Executed as of the day and year first above written. LEHMAN BROTHERS HOLDINGS INC., xx Xxxler By: ________________________________ Name: Ellen Kiernan Title: Authorizxx Xxxxxxxxx INDYMAC BANK, F.S.B., as Servicer By: ________________________________ Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: _____________________________________ Name: E. Todd Whittemore Title: Executive Vice President U.S. BANK NATIONAL AXXXXXXXXXX xx Xrustee By: _____________________________________ Name: Diana J. Kenneally Title: Assistant Vice President XXHIBIT A Modifications to the SWSA

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-7n)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s 's (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. [SIGNATURE PAGES IMMEDIATELY FOLLOW] Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: -------------------------------------------- Name: Xxxxx Xxxxxxx Title: Authorized Signatory COUNTRYWIDE HOME LOANS SERVICING LP, as Servicer By: Countrywide GP, Inc., its General Partner By: -------------------------------------------- Name: Title: COUNTRYWIDE HOME LOANS, INC. By: -------------------------------------------- Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: -------------------------------------------- Name: E. Xxxx Xxxxxxxxxx Title: Executive Vice President U.S. BANK NATIONAL ASSOCIATION as Trustee By: -------------------------------------------- Name: Xxxxx X. Xxxxxxxxx Title: Assistant Vice President EXHIBIT A Modifications to the SWSA

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Mortgage Pass-Through Certificates, Series 2005-19xs)

Distressed Mortgage Loans. The NIMS Insurer may, at its option, purchase a Distressed Mortgage Loan; provided, however, prior to any such purchase, the Servicer shall be required to continue to make Monthly Advances with respect to such Distressed Mortgage Loans, to the extent required by the applicable servicing provisions in the SWSA. Any such purchase shall be accomplished by: (A) remittance to the Master Servicer of the Purchase Price (as defined in the Trust Agreement) for the Distressed Mortgage Loan for deposit into the Collection Account established by the Master Servicer pursuant to the Trust Agreement, and (B) the NIMS Insurer’s (i) acknowledgment and agreement to retain Servicer, as the servicer for any such purchased Distressed Mortgage Loan, to service such Distressed Mortgage Loan pursuant to the provisions of the SWSA, and (ii) assumption, for the benefit of the Servicer, the rights and obligations of the Trust Fund as owner of such purchased Distressed Mortgage Loans pursuant to the SWSA. The Trustee and the Servicer shall immediately effectuate the conveyance of the purchased Distressed Mortgage Loans to the NIMS Insurer exercising the purchase option, including prompt delivery of the Servicing File and all related documentation to the applicable NIMS Insurer. A Distressed Mortgage Loan is as of any Determination Date a Mortgage Loan that is delinquent in payment for a period of ninety (90) days or more, without giving effect to any grace period permitted by the related Mortgage Loan, or for which the Servicer or Trustee has accepted a deed in lieu of foreclosure. Executed as of the day and year first above written. XXXXXX BROTHERS HOLDINGS INC., as Seller By: Name: Xxxxx Xxxxxxx Title: Authorized Signatory COUNTRYWIDE HOME LOANS SERVICING LP, as Servicer By: Countrywide GP, Inc., its General Partner By: Name: Title: COUNTRYWIDE HOME LOANS, INC. By: Name: Title: Acknowledged: AURORA LOAN SERVICES LLC, as Master Servicer By: Name: Xxxxxxx Xxxx Title: Vice President U.S. BANK NATIONAL ASSOCIATION, as Trustee and not individually By: Name: Title: EXHIBIT A Modifications to the XXXX

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman XS Trust Series 2007-16n)

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