Common use of Limited Pledge of Xxxxxx Xxx Servicing Clause in Contracts

Limited Pledge of Xxxxxx Xxx Servicing. To the extent that the pledge of the Companies’ right, title and interest in mortgage servicing rights under Servicing Agreements with Xxxxxx Mae shall at any time be included within the security interest created hereby, the Agent acknowledges and agrees that (x) the Company is entitled to servicing income with respect to a given mortgage pool only so long as Company is an issuer in good standing pursuant to Xxxxxx Xxx rules, regulations, guides and similar announcements; (y) upon the Companies’ loss of such good-standing issuer status, the Agent’s rights to any servicing income related to a given mortgage pool also terminate; and (z) the pledge of Companies’ rights to servicing income conveys no rights (such as a right to become a substitute servicer or issuer) that are not otherwise specifically provided for in the rules, regulations, guides or similar announcements by Xxxxxx Mae, provided that this sentence shall automatically be deemed amended or modified if and to the extent Xxxxxx Xxx amended the corresponding requirement, whether in its rules, regulations, guides, Servicing Agreements, Acknowledgment Agreements or published announcements.

Limited Pledge of Xxxxxx Xxx Servicing. To the extent that the pledge of the Companies’ Company’s right, title and interest in mortgage servicing rights under Servicing Agreements with Xxxxxx Mae shall at any time be included within the security interest created hereby, the Agent acknowledges and agrees that (x) the Company is entitled to servicing income with respect to a given mortgage pool only so long as Company is an issuer in good standing pursuant to Xxxxxx Xxx rules, regulations, guides and similar announcements; (y) upon the Companies’ Company’s loss of such good-standing issuer status, the Agent’s rights to any servicing income related to a given mortgage pool also terminate; and (z) the pledge of Companies’ Company’s rights to servicing income conveys no rights (such as a right to become a substitute servicer or issuer) that are not otherwise specifically provided for in the rules, regulations, guides or similar announcements by Xxxxxx Mae, provided that this sentence shall automatically be deemed amended or modified if and to the extent Xxxxxx Xxx amended the corresponding requirement, whether in its rules, regulations, guides, Servicing Agreements, Acknowledgment Agreements or published announcements.