Common use of Duties of the Credit Risk Manager Clause in Contracts

Duties of the Credit Risk Manager. The Certificateholders, by their purchase and acceptance of the Certificates, appoint The Murrayhill Company as Credit Risk Manager. For and on behalf of the Depositor, the Master Servicer, the Trustee, the PMI Insurer and the Certificateholders, the Credit Risk Manager will provide reports and recommendations concerning Mortgage Loans that are past due, as to which there has been commencement of foreclosure, as to which there has been forbearance in exercise of remedies which are in default, as to which any obligor is the subject of bankruptcy, receivership, or an arrangement of creditors, or which have become REO Properties. Such reports and recommendations will be based upon information provided pursuant to Credit Risk Management Agreements to the Credit Risk Manager by the Servicers. The Credit Risk Manager shall look solely to the Servicers for all information and data (including loss and delinquency information and data) and loan level information and data relating to the servicing of the Mortgage Loans and neither the Master Servicer nor the Trustee shall have any obligation to provide any such information to the Credit Risk Manager.

Duties of the Credit Risk Manager. The Certificateholders, by their purchase and acceptance of the Certificates, appoint The Murrayhill Company as Credit Risk Manager. For and on behalf of the Depositor, the Master Servicer, the Trustee, the PMI Insurer and the Certificateholders, the Credit Risk Manager will provide reports and recommendations concerning Mortgage Loans that are past due, as to which there has been commencement of foreclosure, as to which there has been forbearance in exercise of remedies which are in default, as to which any obligor is the subject of bankruptcy, receivership, or an arrangement of creditors, or which have become REO Properties. Such reports and recommendations will be based upon information provided pursuant to Credit Risk Management Agreements to the Credit Risk Manager by the ServicersServicer. The Credit Risk Manager shall look solely to the Servicers Servicer for all information and data (including loss and delinquency information and data) and loan level information and data relating to the servicing of the Mortgage Loans and neither the Master Servicer nor the Trustee shall have any obligation to provide any such information to the Credit Risk Manager.

Duties of the Credit Risk Manager. The Certificateholders, by their purchase and acceptance of the Certificates, appoint The Murrayhill Company as Credit Risk Manager. For and on behalf of the Depositor, the Master Servicer, the Trustee, the PMI Insurer and the Certificateholders, the Credit Risk Manager will provide reports and recommendations concerning Mortgage Loans that are past due, as to which there has been commencement of foreclosure, as to which there has been forbearance in exercise of remedies which are in default, as to which any obligor is the subject of bankruptcy, receivership, or an arrangement of creditors, or which have become REO Properties. Upon their request, the Depositor shall forward copies of such report to the Master Servicer, the Trustee and any Certificateholder. Such reports and recommendations will be based upon information provided pursuant to Credit Risk Management Agreements Agreement to the Credit Risk Manager by the ServicersServicer. The Credit Risk Manager shall look solely to the Servicers Servicer for all information and data (including loss and delinquency information and data) and loan level information and data relating to the servicing of the Mortgage Loans and neither the Master Servicer nor the Trustee shall have any obligation to provide any such information to the Credit Risk Manager.

Duties of the Credit Risk Manager. The Certificateholders, by their purchase and acceptance of the Certificates, appoint The Murrayhill Company as Credit Risk Manager. For and on behalf of the Depositor, the Master Servicer, the Trustee, the PMI Insurer and the Certificateholders, the Credit Risk Manager will provide reports and recommendations concerning Mortgage Loans that are past due, as to which there has been commencement of foreclosure, as to which there has been forbearance in exercise of remedies which are in default, as to which any obligor is the subject of bankruptcy, receivership, or an arrangement of creditors, or which have become REO Properties. A copy of such report shall be provided by the Credit Risk Manager to the Rating Agencies within ten Business Days of its issue. Such reports and recommendations will be based upon information provided pursuant to Credit Risk Management Agreements to the Credit Risk Manager by the Servicers. The Credit Risk Manager shall look solely to the Servicers for all information and data (including loss and delinquency information and data) and loan level information and data relating to the servicing of the Mortgage Loans and neither the Master Servicer nor the Trustee shall have any obligation to provide any such information to the Credit Risk Manager.

Duties of the Credit Risk Manager. The Certificateholders, by their purchase and acceptance of the Certificates, appoint The Murrayhill Company as Credit Risk Manager. For and on behalf of the Depositor, the Master Servicer, the Trustee, the PMI Insurer and the Certificateholders, the Credit Risk Manager will provide reports and recommendations concerning Mortgage Loans that are past due, as to which there has been commencement of foreclosure, as to which there has been forbearance in exercise of remedies which are in default, as to which any obligor is the subject of bankruptcy, receivership, or an arrangement of creditors, or which have become REO Properties. Upon their request, the Depositor shall forward copies of such report to the Master Servicer, the Trustee and any Certificateholder. Such reports and recommendations will be based upon information provided pursuant to Credit Risk Management Agreements to the Credit Risk Manager by the Servicers. The Credit Risk Manager shall look solely to the Servicers for all information and data (including loss and delinquency information and data) and loan level information and data relating to the servicing of the Mortgage Loans and neither the Master Servicer nor the Trustee shall have any obligation to provide any such information to the Credit Risk Manager.

Duties of the Credit Risk Manager. The Certificateholders, by their purchase and acceptance of the Certificates, appoint The Murrayhill Company as Credit Risk Manager. For and on behalf of the Depositor, the Master Servicer, the Trustee, the PMI Insurer and the Certificateholders, the Credit Risk Manager will provide reports and recommendations concerning Mortgage Loans that are past due, as to which there has been commencement of foreclosure, as to which there has been forbearance in exercise of remedies which are in default, as to which any obligor is the subject of bankruptcy, receivership, or an arrangement of creditors, or which have become REO Properties. A copy of such report shall be provided by the Credit Risk Manager to the Rating Agencies as promptly as possible following its issuance. Such reports and recommendations will be based upon information provided pursuant to Credit Risk Management Agreements to the Credit Risk Manager by the ServicersServicer. The Credit Risk Manager shall look solely to the Servicers Servicer for all information and data (including loss and delinquency information and data) and loan level information and data relating to the servicing of the Mortgage Loans and neither the Master Servicer nor the Trustee shall have any obligation to provide any such information to the Credit Risk Manager.

Duties of the Credit Risk Manager. The Certificateholders, by their purchase and acceptance of the Certificates, appoint The Murrayhill Company as Credit Risk Manager. For and on behalf of the Depositor, the Master Servicer, the Trustee, the PMI Insurer and the Certificateholders, the Credit Risk Manager will provide reports and recommendations concerning Mortgage Loans that are past due, as to which there has been commencement of foreclosure, as to which there has been forbearance in exercise of remedies which are in default, as to which any obligor is the subject of bankruptcy, receivership, or an arrangement of creditors, or which have become REO Properties. A copy of such report shall be provided by the Credit Risk Manager to the Rating Agencies as promptly as possible following its issuance. Such reports and recommendations will be based upon information provided pursuant to Credit Risk Management Agreements to the Credit Risk Manager by the Servicers. The Credit Risk Manager shall look solely to the Servicers for all information and data (including loss and delinquency information and data) and loan level information and data relating to the servicing of the Mortgage Loans and neither the Master Servicer nor the Trustee shall have any obligation to provide any such information to the Credit Risk Manager.