Indemnification by the Servicer. The Servicer agrees to indemnify and hold the Trustee, the Depositor, the Certificate Insurer and each Owner harmless against any and all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments, and any other costs, fees and expenses that the Trustee, the Depositor, the Certificate Insurer and any Owner may sustain in any way related to the failure of the Servicer to perform its duties and service the Home Equity Loans in compliance with the terms of this Agreement. A party against whom a claim is brought shall immediately notify the other parties and the Rating Agencies if a claim is made by a third party with respect to this Agreement, and the Servicer shall assume (with the consent of the Trustee) the defense of any such claim and pay all expenses in connection therewith, including reasonable counsel fees, and promptly pay, discharge and satisfy any judgment or decree which may be entered against the Certificate Insurer, the Servicer, the Trustee and/or Owner in respect of such claim.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Chec Funding LLC), Pooling and Servicing Agreement (Chec Asset Receivables Corp), Pooling and Servicing Agreement (Centex Home Equity Loan Trust 2000-A)
Indemnification by the Servicer. The Servicer agrees to indemnify and hold the Indenture Trustee, the Depositor, the Certificate Note Insurer and each Owner harmless against any and all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments, and any other costs, fees and expenses that the Indenture Trustee, the Depositor, the Certificate Note Insurer and any Owner may sustain in any way related to the failure of the Servicer to perform its duties and service the Home Equity Mortgage Loans in compliance with the terms of this Agreement. A party against whom a claim is brought shall immediately notify the other parties and the Rating Agencies if a claim is made by a third party with respect to this Agreement, and the Servicer shall assume (with the consent of the Indenture Trustee) the defense of any such claim and pay all expenses in connection therewith, including reasonable counsel fees, and promptly pay, discharge and satisfy any judgment or decree which may be entered against the Certificate Note Insurer, the Servicer, the Indenture Trustee and/or Owner in respect of such claim.
Appears in 3 contracts
Samples: Sale and Servicing Agreement (First Alliance Mortgage Loan Trust 1998-1f), Sale and Servicing Agreement (First Alliance Mortgage Loan Trust 1998-1a), Sale and Servicing Agreement (First Alliance Mortgage Co /De/)
Indemnification by the Servicer. The Servicer agrees to indemnify and hold the Trustee, the Depositor, the Certificate Insurer and each Owner harmless against any and all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments, and any other costs, fees and expenses that the Trustee, the Depositor, the Certificate Insurer and any Owner may sustain in any way related to the failure of the Servicer to perform its duties and service the Home Equity Loans in compliance with the terms of this Agreement. A party against whom a claim is brought shall immediately notify the other parties and the Rating Agencies if a claim is made by a third party with respect to this Agreement, and the Servicer shall assume (with the consent of the Trustee) the defense of any such claim and pay all expenses in connection therewith, including reasonable counsel fees, and promptly pay, discharge and satisfy any judgment or decree which may be entered against the Certificate Insurer, the Servicer, the Trustee and/or Owner in respect of such claim.. END OF ARTICLE VIII
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chec Asset Receivables Corp)
