Common use of Fidelity Bond and Errors and Omissions Clause in Contracts

Fidelity Bond and Errors and Omissions. Insurance Policy Maintained by the Master Servicers Each Master Servicer, at its expense, shall maintain in effect a Servicer Fidelity Bond and a Servicer Errors and Omissions Insurance Policy. The Servicer Errors and Omissions Insurance Policy and Servicer Fidelity Bond shall be issued by a Qualified Insurer (unless a Master Servicer self insures as provided below) and be in form and amount consistent with the Servicing Standard. In the event that any such Servicer Errors and Omissions Insurance Policy or Servicer Fidelity Bond ceases to be in effect, the applicable Master Servicer shall obtain a comparable replacement policy or bond from an insurer or issuer meeting the requirements set forth above as of the date of such replacement. So long as the long term rating of a Master Servicer (or its corporate parent) is not in any event less than "A" as rated by S&P and Fitch, respectively, such Master Servicer may self insure for the Servicer Fidelity Bond and the Servicer Errors and Omissions Insurance Policy.

Fidelity Bond and Errors and Omissions. Insurance Policy Maintained by the Master Servicers Each Master Servicer, at its expense, shall maintain in effect a Servicer Fidelity Bond and a Servicer Errors and Omissions Insurance Policy. The Servicer Errors and Omissions Insurance Policy and Servicer Fidelity Bond shall be issued by a Qualified Insurer (unless a Master Servicer self insures as provided below) and be in form and amount consistent with the Servicing StandardStandard (or, in the case of the Prudential Master Servicer, a Servicer Fidelity Bond shall be commercially reasonable in the mortgage servicing industry and in an amount not less than $10,000,000 covering the Prudential Master Servicer's directors, officers and employees, in connection with its activities under this Agreement). In the event that any such Servicer Errors and Omissions Insurance Policy or Servicer Fidelity Bond ceases to be in effect, the applicable Master Servicer shall obtain a comparable replacement policy or bond from an insurer or issuer meeting the requirements set forth above as of the date of such replacement. So long as the long term rating of a Master Servicer (or its corporate parent) is not in any event less than "A" as rated by S&P and Fitch, respectively, such Master Servicer may self insure for the Servicer Fidelity Bond and the Servicer Errors and Omissions Insurance Policy.

Fidelity Bond and Errors and Omissions. Insurance Policy Maintained by the Master Servicers Each Servicer. The Master Servicer, at its expense, shall maintain in effect a Servicer Fidelity Bond and a Servicer Errors and Omissions Insurance Policy. The Servicer Errors and Omissions Insurance Policy and Servicer Fidelity Bond shall be issued by a Qualified Insurer (unless a the Master Servicer self insures as provided below) and be in form and amount consistent with the Servicing Standard. In the event that any such Servicer Errors and Omissions Insurance Policy or Servicer Fidelity Bond ceases to be in effect, the applicable Master Servicer shall obtain a comparable replacement policy or bond from an insurer or issuer meeting the requirements set forth above as of the date of such replacement. So long as the long long-term rating of a the Master Servicer (or its corporate parent) is not in any event less than "A" as rated by S&P Fitch and Fitch"Baa1" as rated by Moody's, respectively, such the Master Servicer may self self-insure for the Servicer Fidelity Servxxxx Xxdelity Bond and the Servicer Errors and Omissions Insurance Policy.

Fidelity Bond and Errors and Omissions. Insurance Policy Maintained by the Master Servicers Each Servicer The Master Servicer, at its expense, shall maintain in effect a Servicer Fidelity Bond and a Servicer Errors and Omissions Insurance Policy. The Servicer Errors and Omissions Insurance Policy and Servicer Fidelity Bond shall be issued by a Qualified Insurer (unless a the Master Servicer self insures as provided below) and be in form and amount consistent with the Servicing Standard. In the event that any such Servicer Errors and Omissions Insurance Policy or Servicer Fidelity Bond ceases to be in effect, the applicable Master Servicer shall obtain a comparable replacement policy or bond from an insurer or issuer meeting the requirements set forth above as of the date of such replacement. So long as the long long-term rating of a the Master Servicer (or its corporate parent) is not in any event less than ["A" as rated by S&P and Fitch, "Baa1" as rated by Moody's,] respectively, such the Master Servicer may self self-insure for the Servicer Sxxxxxxx Fidelity Bond and the Servicer Errors and Omissions Insurance Policy.

Fidelity Bond and Errors and Omissions. Insurance Policy Maintained by the Master Servicers Each Master Servicer, at its expense, shall maintain in effect a Servicer Fidelity Bond and a Servicer Errors and Omissions Insurance Policy. The Servicer Errors and Omissions Insurance Policy and Servicer Fidelity Bond shall be issued by a Qualified Insurer (unless a Master Servicer self insures as provided below) and be in form and amount consistent with the Servicing Standard. In the event that any such Servicer Errors and Omissions Insurance Policy or Servicer Fidelity Bond ceases to be in effect, the applicable Master Servicer shall obtain a comparable replacement policy or bond from an insurer or issuer meeting the requirements set forth above as of the date of such replacement. So long as the long long-term rating of a Master Servicer (or its corporate parent) is not in any event less than "A" as rated by S&P and Fitch"Baa1" as rated by Moody's, respectively, such Master Servicer may self self-insure for the Servicer Sxxxxxxx Fidelity Bond and the Servicer Errors and Omissions Insurance Policy.

Fidelity Bond and Errors and Omissions. Insurance Policy Maintained by the Master Servicers Each Master Servicer, at its expense, shall maintain in effect a Servicer Fidelity Bond and a Servicer Errors and Omissions Insurance Policy. The Servicer Errors and Omissions Insurance Policy and Servicer Fidelity Bond shall be issued by a Qualified Insurer (unless a Master Servicer self insures as provided below) and be in form and amount consistent with the Servicing Standard. In the event that any such Servicer Errors and Omissions Insurance Policy or Servicer Fidelity Bond ceases to be in effect, the applicable Master Servicer shall obtain a comparable replacement policy or bond from an insurer or issuer meeting the requirements set forth above as of the date of such replacement. So long as the long long-term rating of a Master Servicer (or its corporate parent) is not in any event less than "A" as rated by S&P and Fitch, respectively, such Master Servicer may self self-insure for the Servicer Fidelity Bond and the Servicer Errors and Omissions Insurance Policy.