Maintenance of Fidelity Bond. The Servicer shall during the term of its service as servicer maintain in force a fidelity bond and errors and omissions insurance in respect of its officers, employees or agents. Such bond and insurance shall comply with the requirements from time to time of the FNMA for Persons performing servicing for mortgage loans purchased by such association.
Maintenance of Fidelity Bond. The Master Servicer and the Backup Servicer shall each, during the term of its service as Master Servicer and Backup Servicer, respectively, maintain in force a fidelity bond and errors and omissions insurance in respect of their respective officers, employees or agents. Such bond and insurance shall comply with the requirements from time to time of Fannie Mae for Persons performing servicing for mortgage loans purchasxx xx sxxx association.
Maintenance of Fidelity Bond. The Master Servicer and the Backup Servicer shall each, during the term of its service as Master Servicer and Backup Servicer, respectively, maintain in force a fidelity bond and errors and omissions insurance in respect of their respective officers, employees or agents. Such bond and insurance shall comply with the requirements from time to time of Xxxxxx Xxx for Persons performing servicing for mortgage loans purchased by such association.
Maintenance of Fidelity Bond. The Servicer shall during the term of its service as servicer maintain in force a fidelity bond and errors and omissions insurance in respect of its officers, employees or agents. Such bond and insurance shall comply with the requirements from time to time of the Federal National Mortgage Association for Persons performing servicing for mortgage loans purchased by such association.
Maintenance of Fidelity Bond. The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Servicer Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 2.11 requiring such Fidelity Bond shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such Fidelity Bond shall be at least equal to the corresponding amounts required by Accepted Servicing Practices. Upon the request of the Company, the Servicer shall cause to be delivered to the Company a certified true copy of such Fidelity Bond and a statement from the surety that such Fidelity Bond shall in no event be terminated or materially modified without thirty (30) days' prior written notice to the Company. In the event that the surety charges the Servicer a fee for providing such evidence, the Company shall reimburse the Servicer for the reasonable expense incurred by the Servicer in furnishing such evidence.
Maintenance of Fidelity Bond. Underwriter shall maintain a fidelity bond covering larceny and embezzlement and an insurance policy with respect to directors and officers errors and omissions coverage in amounts that are appropriate in light of its duties and responsibilities hereunder. Upon the request of the Trust, Underwriter shall provide evidence that coverage is in place. Underwriter shall notify the Trust should its insurance coverage with respect to professional liability or errors and omissions coverage be canceled. Such notification shall include the date of cancellation and the reasons therefore. Underwriter shall notify the Trust of any material claims against it with respect to services performed under this Agreement, whether or not they may be covered by insurance, and shall notify the Trust should the total outstanding claims made by Underwriter under its insurance coverage materially impair, or threaten to materially impair, the adequacy of its coverage.
Maintenance of Fidelity Bond. Beacon Hill shall maintain a fidelity bond covering larceny and embezzlement and an insurance policy with respect to directors and officers errors and omissions coverage in amounts that are appropriate in light of its duties and responsibilities hereunder. Upon the request of the Trust, Beacon Hill shall provide evidence that coverage is in place. Beacon Hill shall notify the Trust should its insurance coverage with respect to professional liability or errors and omissions coverage be canceled. Such notification shall include the date of cancellation and the reasons therefore. Beacon Hill shall notify the Trust of any material claims against it with respect to services performed under this Agreement, whether or not they may be covered by insurance, and shall notify the Trust should the total outstanding claims made by Beacon Hill under its insurance coverage materially impair, or threaten to materially impair, the adequacy of its coverage.
Maintenance of Fidelity Bond. The Servicer shall, at its own cost and expense, during the term of its service as Servicer maintain in force a fidelity bond in respect of its officers and employees. Such fidelity bond shall protect against losses, including forgery, theft, embezzlement and fraud and shall have such deductibles and be in such form and amount as is generally customary among Persons which service a portfolio of recreational vehicle installment sale contracts having an aggregate principal amount of $100,000,000 or more and which are generally regarded as servicers acceptable to institutional investors, but in no case shall such fidelity bond be less than $5,000,000. Regardless of any provisions contained in this Agreement which require the Servicer to maintain fidelity bond coverage, the Servicer shall not be relieved of and from its accountability and responsibility to the Issuer, the Sellers, the Holders and the Trustees for the proper performance under this Agreement of the duties and obligations to be performed hereunder by the Servicer.
Maintenance of Fidelity Bond. Distributor shall maintain a fidelity bond covering larceny and embezzlement and an insurance policy with respect to directors and officers errors and omissions coverage in amounts that are appropriate in light of its duties and responsibilities hereunder. Upon the request of the Funds, Distributor shall provide evidence that coverage is in place. Distributor shall notify the Funds should the insurance coverage with respect to professional liability or errors and omissions coverage be cancelled. Such notification shall include the date of cancellation and the reasons therefore. Distributor shall notify the Trust of any material claims against it in connection with its services under this Agreement, whether or not they may be covered by insurance, and shall notify the Trust should the total outstanding claims made by Distributor under the insurance coverage materially impair, or threaten to materially impair, the adequacy of the coverage.
Maintenance of Fidelity Bond. The Servicer shall during the term of its service as Servicer maintain in force a financial institutions bond with fidelity coverage in respect of its officers, employees or agents. Such bond shall be in an amount as is commercially available at a cost that is not generally regarded as excessive by industry standards.
