Common use of E & O Policy Maintenance Clause in Contracts

E & O Policy Maintenance. The Servicer must maintain in effect the Errors and Omissions Policy at all times and the Errors and Omissions Policy may not be canceled, permitted to lapse or otherwise terminated without thirty Business Days' prior written notice by registered mail to the Master Servicer. Further, the Errors and Omissions Policy must provide that, or the insurer must state in writing to the Master Servicer that, the Errors and Omissions Policy shall not be cancelable without the giving of notice as provided for in the prior sentence.

E & O Policy Maintenance. The Servicer must maintain in effect the Errors and Omissions Policy at all times and the Errors and Omissions Policy may not be canceled, permitted to lapse or otherwise terminated without thirty Business Days' ’ prior written notice by registered mail to the Master Servicer. Further, the Errors and Omissions Policy must provide that, or the insurer must state in writing to the Master Servicer that, the Errors and Omissions Policy shall not be cancelable without the giving of notice as provided for in the prior sentence.