Insurance and Guarantees. The Seller will cooperate fully and in a timely manner with the Buyer in connection with: (i) the filing of any claims with an insurer or guarantor or any agent of any insurer or guarantor under any insurance policy or guaranty affecting a Mortgagor or any of the Mortgaged Property; (ii) supplying any additional information as may be requested by the Buyer or any such agent or insurer in connection with the processing of any such claim; (iii) the execution or endorsement of any check or draft made payable to the Seller representing proceeds from any such claim and (iv) the sale of any Mortgage Loan under a Takeout Commitment. The Seller shall take all such actions as may be reasonably requested by the Buyer to protect the rights of the Buyer in and to any proceeds under any and all of the foregoing insurance policies. The Seller shall not take or cause to be taken any action which would impair the rights of the Buyer in and to any proceeds under any of the foregoing insurance policies.
Appears in 4 contracts
Samples: Purchase Agreement (Technical Olympic Usa Inc), Purchase Agreement (Technical Olympic Usa Inc), Purchase Agreement (Technical Olympic Usa Inc)
Insurance and Guarantees. The Seller will cooperate fully and in a timely manner with the Buyer in connection with: (i) the filing of any claims with an insurer or guarantor or any agent of any insurer or guarantor under any insurance policy or guaranty affecting a Mortgagor or any of the Mortgaged Property; (ii) supplying any additional information as may be requested by the Buyer or any such agent or insurer in connection with the processing of any such claim; (iii) the execution or endorsement of any check or draft made payable to the Seller representing proceeds from any such claim and (iv) the sale of any Mortgage Loan under a Takeout Commitment. The Seller shall take all such actions as may be reasonably requested by the Buyer to protect the rights of the Buyer in and to any proceeds under any and all of the foregoing insurance policies. The Seller shall not take or cause to be taken any action which would impair the rights of the Buyer in and to any proceeds under any of the foregoing insurance policies.
Appears in 2 contracts
Samples: Mortgage Loan Purchase and Sale Agreement (Fieldstone Investment Corp), Mortgage Loan Purchase and Sale Agreement (Standard Pacific Corp /De/)
