Enforcement of Mortgages. To the extent that any amount cannot be collected from any Borrower and the Servicer is unable to undertake its primary obligation to collect such amounts, the Loan will be passed to the special servicing team of the Servicer who will undertake debt collections activities in addition to the cash management activities outlined above. The Servicer will, in relation to any default by a Borrower under or in connection with a Loan, comply with the Enforcement Procedures or, to the extent that the Enforcement Procedures are not applicable having regard to the nature of the default in question, take such action as complies with the standard of a Reasonable, Prudent Residential Mortgage Servicer providing debt collection services in respect of such default, provided that:
(a) the Servicer shall only become obliged to comply with the Enforcement Procedures (to the extent applicable) or to take action as aforesaid after it has become aware of the default; and
(b) it is acknowledged by the Issuer that mortgage servicers generally exercise discretion in pursuing their respective enforcement procedures and that the Servicer may exercise such discretion as would be exercised by a Reasonable, Prudent Residential Mortgage Servicer in applying the Enforcement Procedures to any particular defaulting Borrower or taking action as referred to above or in enforcing any relevant guarantee but without prejudice to the provisions of Clause 4.4 (Sums Received in the Accounts); and
(c) the Servicer may exercise forbearance or take such other action in accordance with the practice of a Reasonable, Prudent Residential Mortgage Servicer in relation to the recovery of amounts from Borrower(s) and/or the relevant Property.
Enforcement of Mortgages. 6.3.1 The Administrators will, in relation to any default by a Borrower under or in connection with a Mortgage, comply with the Enforcement Procedures or, to the extent that the Enforcement Procedures are not applicable having regard to the nature of the default in question, take such action as would a reasonably prudent mortgage administrator in respect of such default, provided that:
(a) an Administrator shall only become obliged to comply with the Enforcement Procedures (to the extent applicable) or to take action as aforesaid after it has become aware of the default; and
(b) it is acknowledged by the Issuer and the Trustee that mortgage administrators generally exercise discretion in pursuing their respective enforcement procedures and that the Administrators may exercise such discretion as would be exercised by a reasonably prudent mortgage administrator in applying the Enforcement Procedures to any particular defaulting Borrower or taking action as aforesaid or in enforcing any relevant Guarantee but without prejudice to the provisions of Clause 13 (Insurances).
6.3.2 PML as Seller acknowledges to each of the other parties to this Agreement that the provisions of the PML Cross-collateral Mortgage Rights Deed entitle PML as a Seller to prevent any other Cross-collateral Party from exercising Cross- collateral Duplicate Rights in respect of any Mortgage (as defined in the PML Cross-collateral Mortgage Rights Deed) except in the circumstances and to the extent that such Cross-collateral Party is not prohibited by such provisions from exercising Cross-collateral Rights in respect of that Mortgage.
Enforcement of Mortgages. (a) The Issuer hereby directs the Servicer to service the relevant Loans and carry out its specific obligations under this Agreement in accordance with the Seller's Policy.
(b) The Servicer will, in relation to any default by a relevant Borrower under or in connection with a relevant Loan or its Related Security, comply with the Enforcement Procedures or, to the extent that the Enforcement Procedures are not applicable having regard to the nature of the default in question, with the usual procedures undertaken by a Reasonable, Prudent Mortgage Lender and provided that any such action is not materially prejudicial to the interests of the Issuer, provided that:
(i) the Servicer shall only become obliged to comply with the Enforcement Procedures (to the extent applicable) or to take action as aforesaid after it has become aware of the default; and
(ii) it is acknowledged by the Issuer that mortgage lenders generally exercise discretion in pursuing their respective enforcement procedures and that the Servicer may exercise such discretion as would a Reasonable, Prudent Mortgage Lender in applying the Enforcement Procedures to any particular defaulting Borrower or taking action as aforesaid, provided that in exercising such discretion the interests of the Issuer in the Portfolio are not materially prejudiced.
Enforcement of Mortgages. The Mortgage Manager shall provide all reasonable instructions to the Mortgage Administrator so as to enable the Mortgage Administrator to use all reasonable endeavours to collect all payments due under or in connection with the Loans and their related Collateral Security and to enforce all covenants and obligations of each Borrower and any other relevant persons in accordance with the Enforcement Procedures and the Mortgage Manager shall comply with all reasonable requirements of the Issuer and/or the Trustee in relation to such enforcement within the Enforcement Procedures or, to the extent that the Enforcement Procedures are not applicable having regard to the nature of the default in question, take such action as would a Prudent Mortgage Lender in respect of such default.
