Common use of Maintenance of Errors and Omissions and Fidelity Coverage Clause in Contracts

Maintenance of Errors and Omissions and Fidelity Coverage. The Servicer shall keep in force during the term of this Agreement a policy or policies of insurance covering errors and omissions for failure in the performance of the Servicer’s obligations under this Agreement, which policy or policies shall be in such form and amount that would meet the requirements of Fxxxxx Mxx or Fxxxxxx Mac if it were the purchaser of the Mortgage Loans, unless the Servicer has obtained a waiver of such requirements from the Rating Agencies. The Servicer shall also maintain a fidelity bond in the form and amount that would meet the requirements of Fxxxxx Mae or Fxxxxxx Mac, unless the Servicer has obtained a waiver of such requirements from the Rating Agencies. The Servicer shall be deemed to have complied with this provision if an Affiliate of the Servicer has such errors and omissions and fidelity bond coverage and, by the terms of such insurance policy or fidelity bond, the coverage afforded thereunder extends to the Servicer. Any such errors and omissions policy and fidelity bond shall by its terms not be cancelable without thirty days’ prior written notice to the Trustee. The Servicer shall also cause each Sub-Servicer to maintain a policy of insurance covering errors and omissions and a fidelity bond which would meet such requirements.

Maintenance of Errors and Omissions and Fidelity Coverage. The Master Servicer shall keep in force during the term of this Agreement a policy or policies of insurance covering errors and omissions for failure in the performance of the Master Servicer’s obligations under this Agreement, which policy or policies shall be in such form and amount that would meet the requirements of Fxxxxx Mxx Fannie Mae or Fxxxxxx Freddie Mac if it were the purchaser of the Mortgage Loans, unless the Master Servicer has obtained a waiver of such requirements from the Rating AgenciesFannie Mae or Freddie Mac. The Master Servicer shall also maintain a fidelity bond xxxxxxix x fidxxxxx xond in the form and amount that would meet the requirements of Fxxxxx Fannie Mae or Fxxxxxx Freddie Mac, unless the Master Servicer has obtained a waiver obtainex x xxiver of such requirements xxxx xxquirements from the Rating AgenciesFannie Mae or Freddie Mac. The Master Servicer shall be deemed to have complied with this provision if an Affiliate Xxxxxiate of the xxx Xxxter Servicer has such errors and omissions and fidelity bond coverage and, by the terms xxxxx of such insurance xxxxxxnce policy or fidelity bond, the coverage afforded thereunder extends to the Master Servicer. Any such errors and omissions policy and fidelity bond shall by its terms not be cancelable without thirty days’ prior written notice to the Trustee. The Master Servicer shall also cause each Sub-Servicer to maintain a policy of insurance covering errors and omissions and a fidelity bond which would meet such requirements.

Maintenance of Errors and Omissions and Fidelity Coverage. The Servicer shall keep in force during the term of this Agreement a policy or policies of insurance covering errors and omissions for failure in the performance of the Servicer’s 's obligations under this Agreement, which policy or policies shall be in such form and amount that would meet the requirements of Fxxxxx Mxx Xxxxxx Xxx or Fxxxxxx Xxxxxxx Mac if it were the purchaser of the Mortgage Loans, unless the Servicer has obtained a waiver of such requirements from the Rating Agencies. The Servicer shall also maintain a fidelity bond in the form and amount that would meet the requirements of Fxxxxx Xxxxxx Mae or Fxxxxxx Xxxxxxx Mac, unless the Servicer has obtained a waiver of such requirements from the Rating Agencies. The Servicer shall be deemed to have complied with this provision if an Affiliate of the Servicer has such errors and omissions and fidelity bond coverage and, by the terms of such insurance policy or fidelity bond, the coverage afforded thereunder extends to the Servicer. Any such errors and omissions policy and fidelity bond shall by its terms not be cancelable without thirty days’ ' prior written notice to the Trustee. The Servicer shall also cause each Sub-Servicer to maintain a policy of insurance covering errors and omissions and a fidelity bond which would meet such requirements.

Maintenance of Errors and Omissions and Fidelity Coverage. The Master Servicer shall keep in force during the term of this Agreement a policy or policies of insurance covering errors and omissions for failure in the performance of the Master Servicer’s obligations under this Agreement, which policy or policies shall be in such form and amount that would meet the requirements of Fxxxxx Mxx or Fxxxxxx Mac if it were the purchaser of the Mortgage Loans, unless the Master Servicer has obtained a waiver of such requirements from the Rating AgenciesFxxxxx Mae or Fxxxxxx Mac. The Master Servicer shall also maintain a fidelity bond in the form and amount that would meet the requirements of Fxxxxx Mae or Fxxxxxx Mac, unless the Master Servicer has obtained a waiver of such requirements from the Rating AgenciesFxxxxx Mae or Fxxxxxx Mac. The Master Servicer shall be deemed to have complied with this provision if an Affiliate of the Master Servicer has such errors and omissions and fidelity bond coverage and, by the terms of such insurance policy or fidelity bond, the coverage afforded thereunder extends to the Master Servicer. Any such errors and omissions policy and fidelity bond shall by its terms not be cancelable without thirty days’ prior written notice to the Trustee. The Master Servicer shall also cause each Sub-Servicer to maintain a policy of insurance covering errors and omissions and a fidelity bond which would meet such requirements.