Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirement. Upon the request of the Trust Administrator, the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 47 contracts
Samples: Pooling and Servicing Agreement (CSMC Mortgage Backed Trust Series 2007-1), Pooling and Servicing Agreement (CSMC Trust 2007-4), Pooling and Servicing Agreement (CSMC Trust 2007-4)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companiesa carrier generally acceptable under the Servicing Standard, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementServicer. Upon the request of the Trust AdministratorMaster Servicer, the related Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to the Trust Administrator such party a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerServicer, the Trustee and the NIMS Insurer.
Appears in 47 contracts
Samples: Securitization Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Bc4), Securitization Servicing Agreement (BNC Mortgage Loan Trust 2007-3), Securitization Servicing Agreement (Sasco 2007-Bnc1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMAthe Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide, unless the related Servicer has obtained a waiver of such requirementor as otherwise acceptable to Xxxxxx Mae and Xxxxxxx Mac. Upon the request of the Trust AdministratorMaster Servicer, the related Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to the Trust Administrator such party a certificate of insurance of the insurer for such fidelity bond and the surety including insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerServicer, the Trustee and the NIMS Insurer.
Appears in 39 contracts
Samples: Securitization Subservicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2006-Bc5), Securitization Subservicing Agreement (Sasco 2006-Bc4), Securitization Subservicing Agreement (Sail 2006-Bnc3)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMAthe Master Servicer in the Servicer's Guide, unless or, in the related Servicer has obtained a waiver absence of such requirement, the corresponding amounts required by Xxxxxx Xxx in the Xxxxxx Mae Mortgage-Backed Securities Selling and Servicing Guide and by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Trust AdministratorMaster Servicer, the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of Master Servicer certificates evidencing that such policy and bond is in effect and shall furnish to the insurer and the surety including Master Servicer a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerServicer.
Appears in 29 contracts
Samples: Correspondent Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-22), Correspondent Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-21), Correspondent Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-9a)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Trust AdministratorMaster Servicer or the NIMS Insurer, the related Servicer shall cause to be delivered to the Trust Administrator such party a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master serviceror the NIMS Insurer.
Appears in 26 contracts
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2002-Bc8), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc9), Securitization Servicing Agreement (Amortizing Residential Collateral Trust, Series 2004-1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to Xxxxxx Mae or Xxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 26 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Series 2004-3), Seller's Warranties and Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc1), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2002 Bc4)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Special Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Transferred Mortgage Loans (“Special 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 related Special Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Special Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Special Servicer against losses in connection with the release or satisfaction of a related Transferred Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Special Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Xxxxxx Mae in the related Servicer has obtained a waiver of such requirementXxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Trust AdministratorMaster Servicer or the Trustee, the related Special Servicer shall cause to be delivered to the Trust Administrator such party a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerServicer.
Appears in 18 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp. 2005-17), Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-10), Servicing Agreement (Lehman Mortgage Trust 2006-9)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal acceptable to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Mae or Xxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 17 contracts
Samples: Servicing Agreement (Lehman Xs Trust Series 2005-3), Master Seller's Warranties and Servicing Agreement (Banc of America Funding 2006-2 Trust), Seller's Warranties and Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-11h)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Master Servicer and each Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (in the case of a Servicer, “Servicer Employees,” and in the case of the Master Servicer, “Master Servicing 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 Master Servicer or the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the Master Servicer Employees, in the case of the Master Servicer, or such Servicer Employees, in the case of a Servicer. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Master Servicer and each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Master Servicer or a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirement. Upon the request of the Trust Administrator, the Master Servicer or the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 17 contracts
Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Certs Series 2003 Ar20), Pooling and Servicing Agreement (CSFB Mort Sec Corp Mort Backed Pass THR Certs Ser 2003 Ar5), Pooling and Servicing Agreement (CSFB Sec Corp CSFB Mort Backed Pass THR Certs Ser 2003 Ar18)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal acceptable to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Mae or Xxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 15 contracts
Samples: Servicing Agreement, Servicing Agreement, Seller's Warranties and Servicing Agreement (Sequoia Mortgage Trust 2007-4)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.14 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Xxxxxx Xxx in the related Servicer has obtained a waiver of such requirementXxxxxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Trust Administratorany Owner, the related Servicer shall cause to be delivered to the Trust Administrator such Owner a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without using commercially reasonable efforts to provide 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOwner.
Appears in 14 contracts
Samples: Master Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-11h), Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 01 16h), Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 01 16h)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.02(m) requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding coverage amounts required which are acceptable for the Servicer as determined by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Xxx and Xxxxxxx Mac. Upon the request of the Trust AdministratorMaster Servicer or the Indenture Trustee, the related Servicer shall cause to be delivered to the Trust Administrator such party a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerand the Indenture Trustee.
Appears in 14 contracts
Samples: Transfer and Servicing Agreement (Fieldstone Mortgage Investment Trust, Series 2006-2), Transfer and Servicing Agreement (New York Mortgage Trust 2005-3), Transfer and Servicing Agreement (SunTrust Mortgage Securitization, LLC)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Seller shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer "Seller Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Seller against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Seller from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Xxxxxx Mae in the related Servicer has obtained a waiver of such requirementXxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Trust AdministratorPurchaser, the related Servicer Seller shall cause to be delivered to the Trust Administrator Purchaser a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 12 contracts
Samples: Flow Interim Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust), Interim Servicing Agreement (Structured Asset Securities Corp), Interim Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Xxxxxx Xxx in the related Servicer has obtained a waiver of such requirementXxxxxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Trust AdministratorMaster Servicer, the related Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to the Trust Administrator such party a certificate certified true copy of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerpolicy.
Appears in 11 contracts
Samples: Securitization Servicing Agreement (Greenpoint Mortgage Funding Trust 2007-Ar1), Securitization Servicing Agreement (Lehman XS Trust Series 2007-15n), Securitization Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Ar8)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, acceptable to FNMA unless the related Servicer has obtained a waiver of such requirement. Upon the request of the Trust Administrator, the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 11 contracts
Samples: Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-7), Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-6a), Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-Ar8)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Master Servicer and each Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (in the case of a Servicer, “Servicer Employees,” and in the case of the Master Servicer, “Master 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 Master Servicer or the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the Master Servicer Employees, in the case of the Master Servicer, or such Servicer Employees, in the case of the Servicer. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Master Servicer and each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Master Servicer or a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirement. Upon the request of the Trust Administrator, the Master Servicer or the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 11 contracts
Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Certs Ser 2003-17), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Cert Ser 2002-30), Pooling and Servicing Agreement (Credit Suisse First Boston Mort Back Ps THR Cert Ser 2002-34)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Xxxxxx Xxx in the related Servicer has obtained a waiver of such requirementXxxxxx Mae Mortgage-Backed Securities Selling and Servicing Guide or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certified true copy of such fidelity bond and insurance policy, or a certificate of insurance of setting forth the insurer related coverage, and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 10 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-3), Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cer Se 2002-2), Seller's Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The Servicer shall maintain minimum coverage amounts under any such bond Fidelity Bond and insurance policy shall be at least equal Errors and Omissions Insurance Policy acceptable to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Mae and Xxxxxxx Mac. Upon the request of the Trust AdministratorOwner, the related Servicer shall cause to be delivered to the Trust Administrator Owner a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including a statement from the surety Errors and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOmissions Insurance Policy.
Appears in 10 contracts
Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-13), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Xxxxxx Mae in the related Servicer has obtained a waiver of such requirement. Upon Xxxxxx Xxx Guides or by Xxxxxxx Mac in the request of the Trust Administrator, the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerXxxxxxx Mac Guides.
Appears in 10 contracts
Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-10xs), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-14sl)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirement. Upon the request of the Trust Administrator, the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 10 contracts
Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Certs Ser 2003-Ar30), Pooling and Servicing Agreement (CSFB Mortgage Back Pass THR Cer Ser 2003-Ar2), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Certs Series 2003-25)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Seller shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer "Seller Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Seller against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Seller from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Xxxxxx Xxx in the related Servicer has obtained a waiver of such requirementXxxxxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Trust AdministratorPurchaser, the related Servicer Seller shall cause to be delivered to the Trust Administrator Purchaser a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 9 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cer Se 2002-2), Flow Interim Servicing Agreement (Sturctured Asset Securities Corp Mort Pass Thru Ser 2004-1), Flow Interim Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Fxxxxx Mxx in the related Servicer has obtained a waiver of such requirementFxxxxx Mae Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Trust AdministratorMaster Servicer, the related Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to the Trust Administrator such party a certificate certified true copy of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerpolicy.
Appears in 9 contracts
Samples: Securitization Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Ar6), Securitization Servicing Agreement (Lehman XS Trust Series 2006-Gp2), Securitization Servicing Agreement (Greenpoint Mortgage Funding Trust 2007-Ar2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Xxxxxx Xxx in the related Servicer has obtained a waiver of such requirementXxxxxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Trust AdministratorMaster Servicer, the related Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to the Trust Administrator such party a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerand, at its request, the NIMS Insurer.
Appears in 8 contracts
Samples: Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-7), Securitization Servicing Agreement (Fremont Home Loan Trust 2004-3), Securitization Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Bc2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Seller shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer "Seller Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Seller against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 5.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Seller from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Xxxxxx Mae in the related Servicer has obtained a waiver of such requirementXxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Trust AdministratorPurchaser, the related Servicer Seller shall cause to be delivered to the Trust Administrator such Purchaser a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 7 contracts
Samples: Flow Mortgage Loan Purchase, Warranties and Servicing Agreement (Structured Asset Sec Corp Mort Passthr Certs Ser 2003 40a), Mortgage Loan Purchase Agreement (Structured Adjustable Rate Mortgage Loan Rate), Mortgage Loan Purchase Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-34a)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlementembezzle-ment, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 2.11 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Xxxxxx Xxx in the related Xxxxxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx/Servicer has obtained a waiver of such requirementGuide. Upon the request of the Trust AdministratorOwner, the related Servicer shall cause to be delivered to the Trust Administrator Owner a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOwner.
Appears in 7 contracts
Samples: Servicing Agreement (GSR 2007-Oa2), Servicing Agreement (GSR Mortgage Loan Trust 2007-4f), Servicing Agreement (GSR Mortgage Loan Trust 2007-Oa1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal acceptable to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Mae or Xxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 7 contracts
Samples: Seller's Warranties and Servicing Agreement (STARM Mortgage Loan Trust 2007-3), Seller's Warranties and Servicing Agreement (MASTR Alternative Loan Trust 2007-1), Seller's Warranties and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer Company 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 related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to FNMA or FHLMC. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 7 contracts
Samples: Flow Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2006-8f), Flow Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2006-9f), Flow Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-Ar1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each (a) The Master Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all directors, officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Master Servicing 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 related Master Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Master Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Master Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 8.02 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Master Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Xxx or Freddie Mac. Upon the request of the Trust AdministratorSecurities Administrator or the Trustee, the related Master Servicer shall cause to be delivered to the Trust Securities Administrator or the Trustee a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Securities Administrator. The Master Servicer shall (i) require each Servicer to maintain an Errors and Omissions Insurance Policy and a Fidelity Bond in accordance with the provisions of the applicable Servicing Agreement, (ii) cause each Servicer to provide to the Master Servicer certificates evidencing that such policy and bond is in effect and to furnish to the Master Servicer any notice of cancellation, non-renewal or modification of the policy or bond received by it, as and to the extent provided in the applicable Servicing Agreement, and (iii) furnish copies of the certificates and notices referred to in clause (ii) to the Securities Administrator upon its request.
(b) The Master Servicer shall promptly report to the Securities Administrator and the Trustee any material changes that may occur in the Master Servicer Fidelity Bond or the Master Servicer Errors and Omissions Insurance Policy and shall furnish to the Securities Administrator and Trustee, on request, certificates evidencing that such bond and insurance policy are in full force and effect. The Master Servicer shall promptly report to the Securities Administrator and Trustee all cases of forgery, theft, embezzlement, fraud, errors or omissions, if such events involve funds relating to the Mortgage Loans. The total losses, regardless of whether claims are filed with the applicable insurer or surety, shall be disclosed in such reports together with the amount of such losses covered by insurance. If a bond or insurance claim report is filed with any of such bonding companies or insurers, the Master Servicer shall promptly furnish a copy of such report to the Securities Administrator and the Trustee. Any amounts generally acceptable relating to the Mortgage Loans collected by the Master Servicer under any such bond or policy shall be promptly remitted by the Master Servicer to the Securities Administrator for entities serving as master servicerdeposit into the Certificate Account. Any amounts relating to the Mortgage Loans collected by any Servicer under any such bond or policy shall be remitted to the Master Servicer to the extent provided in the applicable Servicing Agreement.
Appears in 7 contracts
Samples: Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2005-Ar3), Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2005-Ar2), Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2004-14)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companiescompanies that are acceptable to Xxxxxx Mae and Xxxxxxx Mac, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to Xxxxxx Mae or Xxxxxxx Mac. Upon the request of the Trust Administratorany Owner, the related Servicer shall cause to be delivered to the Trust Administrator such Owner a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOwner.
Appears in 6 contracts
Samples: Flow Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Ar7), Flow Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Ar6), Flow Servicing Agreement (Citigroup Mortgage Loan Trust 2007-10)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companiescompanies that would meet the requirements of Xxxxxx Mae, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the failure to maintain any insurance policies required pursuant to this agreement and the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Servicing Agreement. The minimum coverage under any Any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal comply with the applicable requirements from time to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver time of such requirementXxxxxx Xxx. Upon the request of the Trust Administratorrequest, the related Servicer shall cause to be delivered to the Trust Administrator Owner a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOwner.
Appears in 6 contracts
Samples: Flow Servicing Agreement (Pennymac Financial Services, Inc.), Flow Servicing Agreement (Pennymac Financial Services, Inc.), Flow Servicing Agreement (Pennymac Financial Services, Inc.)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, acceptable to FNMA unless the related Servicer has obtained a waiver of such requirement. Upon the request of the Trust Administrator, the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-1), Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2004-4), Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-10)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance PolicyPolicy that meets the requirements of Xxxxxx Xxx or Xxxxxxx Mac, 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 related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Mae or Xxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 6 contracts
Samples: Master Seller's Warranties and Servicing Agreement (Banc of America Funding 2006-3 Trust), Master Seller's Warranties and Servicing Agreement (Banc of America Funding 2006-2 Trust), Master Seller's Warranties and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-A4)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.16 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirement. Upon the request of the Trust Administrator, the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Adjustable Rate Mortgage Trust 2006-3), Pooling and Servicing Agreement (Adjustable Rate Mortgage Trust 2007-1), Pooling and Servicing Agreement (Adjustable Rate Mortgage Trust 2007-1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“"Servicer Employees”"). Any The amount of coverage under any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in at least equal to the form of the Mortgage Banker’s Blanket Bond and shall protect and insure coverage maintained by the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer against losses in connection with the release order to be acceptable to Fannie Mae or satisfaction of Xxxxxxe Xxc to xxxxxxe loans for it or otherwise in an amount as is commercially available at a related Mortgage Loan without having obtained payment in full of the indebtedness secured therebycost that is generally not regarded as excessive by industry standards. No provision of this Section 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementFannie Mae. Upon the Upxx xxx request of the Trust AdministratorTrustee, the related Servicer shall cause to be delivered to the Trust Administrator Trustee a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerTrustee.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (CSFB Home Equity Mortgage Pass Through Cert Series 2002-4), Pooling and Servicing Agreement (CSFB Mort Sec Corp Home Equity Mort Trust 2002-3), Pooling and Servicing Agreement (Credit Suisse First Boston Mort Sec Corp Ho Eq Mo Tr 2002-5)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each (a) The Master Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all directors, officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Master Servicing 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 related Master Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Master Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Master Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 8.02 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Master Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Xxx or Freddie Mac. Upon the request of the Trust Securities Administrator, the related Master Servicer shall cause to be delivered to the Trust Securities Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Securities Administrator. The Master Servicer shall (i) require each Servicer to maintain an Errors and Omissions Insurance Policy and a Fidelity Bond in accordance with the provisions of the applicable Servicing Agreement, (ii) cause each Servicer to provide to the Master Servicer certificates evidencing that such policy and bond is in effect and to furnish to the Master Servicer any notice of cancellation, non-renewal or modification of the policy or bond received by it, as and to the extent provided in the applicable Servicing Agreement, and (iii) furnish copies of the certificates and notices referred to in clause (ii) to the Securities Administrator upon its request.
(b) The Master Servicer shall promptly report to the Securities Administrator any material changes that may occur in the Master Servicer Fidelity Bond or the Master Servicer Errors and Omissions Insurance Policy and shall furnish to the Securities Administrator, on request, certificates evidencing that such bond and insurance policy are in full force and effect. The Master Servicer shall promptly report to the Securities Administrator, to the best of its knowledge, all cases of forgery, theft, embezzlement, fraud, errors or omissions, if such events involve funds relating to the Mortgage Loans. The total losses, regardless of whether claims are filed with the applicable insurer or surety, shall be disclosed in such reports together with the amount of such losses covered by insurance. If a bond or insurance claim report is filed with any of such bonding companies or insurers, the Master Servicer shall promptly furnish a copy of such report to the Securities Administrator. Any amounts generally acceptable relating to the Mortgage Loans collected by the Master Servicer under any such bond or policy shall be promptly remitted by the Master Servicer to the Securities Administrator for entities serving as master servicerdeposit into the Certificate Account. Any amounts relating to the Mortgage Loans collected by any Servicer under any such bond or policy shall be remitted to the Master Servicer to the extent provided in the applicable Servicing Agreement.
Appears in 6 contracts
Samples: Master Servicing and Trust Agreement (Gs Mortgage Securities Corp), Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2005-4f), Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2005-6f)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Special Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Transferred Mortgage Loans (“Special 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 related Special Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Special Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Special Servicer against losses in connection with the release or satisfaction of a related Transferred Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Special Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Fxxxxx Mae in the related Servicer has obtained a waiver of such requirementFxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Trust AdministratorMaster Servicer or the Trustee, the related Special Servicer shall cause to be delivered to the Trust Administrator such party a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerServicer.
Appears in 5 contracts
Samples: Servicing Agreement (Lehman Mortgage Trust 2007-9), Servicing Agreement (Lehman Mortgage Trust 2007-2), Servicing Agreement (Lehman Mortgage Trust 2006-7)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirement. Upon the request of the Trust AdministratorTrustee, the related Servicer shall cause to be delivered to the Trust Administrator Trustee a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerTrustee.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certs Series 2001 33), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal acceptable to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Mae or Xxxxxxx Mac. Upon the request of the Trust AdministratorOwner, the related Servicer shall cause to be delivered to the Trust Administrator Owner a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOwner.
Appears in 5 contracts
Samples: Servicing Agreement (Luminent Mortgage Trust 2007-2), Servicing Agreement (Banc of America Funding 2007-2 Trust), Servicing Agreement (Banc of America Funding 2006-8t2 Trust)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless Xxxxxx Mae in the related Servicer has obtained a waiver of such requirementXxxxxx Xxx Mortgage-Backed Securities Selling and Servicing Guide. Upon the request of the Trust AdministratorOwner, the related Servicer shall cause to be delivered to the Trust Administrator Owner a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including a statement from the surety Errors and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOmissions Insurance Policy.
Appears in 5 contracts
Samples: Servicing Agreement (GSR Mortgage Loan Trust 2006-3f), Servicing Agreement (GSR Mortgage Loan Trust 2006-1f), Servicing Agreement (GSR 2006-4f)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Fxxxxx Mae in the related Servicer has obtained a waiver of such requirement. Upon Fxxxxx Mxx Guides or by Fxxxxxx Mac in the request of the Trust Administrator, the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerFxxxxxx Mac Guides.
Appears in 5 contracts
Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-13), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set 45 forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to Xxxxxx Mae or Xxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 5 contracts
Samples: Flow Sale and Servicing Agreement (Banc of America Funding 2006-3 Trust), Flow Sale and Servicing Agreement (Banc of America Funding 2006-5 Trust), Flow Sale and Servicing Agreement (Banc of America Funding 2006-2 Trust)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all of its officers, employees or other persons acting in any capacity on behalf of the Servicer requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (the “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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable in accordance with Applicable Requirements. Upon the request of the Trust AdministratorIn any event, the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain such insurance in such amounts generally acceptable for entities serving as master serviceris required under Section 7.20 of the Loan Agreement.
Appears in 5 contracts
Samples: Loan Servicing Agreement (Franklin Credit Management Corp), Loan Servicing Agreement (Franklin Credit Management Corp), Loan Servicing Agreement (Franklin Credit Holding Corp/De/)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance PolicyPolicy that meets the requirements of Xxxxxx Mae or Xxxxxxx Mac, 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 related Mortgage Loans (“Servicer Company 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 related Servicer Company against losses, including forgery, theft, embezzlementembezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by FNMAXxxxxx Mae, unless the related Servicer has obtained a waiver of such requirementXxxxxxx Mac or GNMA, as applicable. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 5 contracts
Samples: Master Seller’s Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax), Master Seller’s Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), Master Seller’s Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.02(m) requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding coverage amounts required which are acceptable for the Servicer as determined by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Xxx and Freddie Mac. Upon the request of the Trust AdministratorMaster Servicer or the Indenture Trustee, the related Servicer shall cause to be delivered to the Trust Administrator such party a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerand the Indenture Trustee.
Appears in 5 contracts
Samples: Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP), Transfer and Servicing Agreement (Aames Mortgage Investment Trust 2006-1), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Fannie Mae in the related Servicer has obtained a waiver of such requirement. Upon Fannie Mae Guides or by Freddie Mac in the request of the Trust Administrator, the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerFrxxxxx Mac Guides.
Appears in 5 contracts
Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-3xs), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to FNMA or FHLMC. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 4 contracts
Samples: Master Servicing and Trust Agreement (GS Mortgage GSAA Home Eq. Trust 2004-7), Seller's Warranties and Servicing Agreement (Gs Mortgage Securities Corp), Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-3)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Master Servicer and each Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Master Servicer or the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the Master Servicer Employees, in the case of the Master Servicer, or such Servicer Employees, in the case of the Servicer. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Master Servicer and each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Master Servicer or a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirement. Upon the request of the Trust Administrator, the Master Servicer or the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Cert Series 2002-Ar8), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMAthe Fxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide, unless the related Servicer has obtained a waiver of such requirementor as otherwise acceptable to Fxxxxx Mae and Fxxxxxx Mac. Upon the request of the Trust AdministratorMaster Servicer, the related Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to the Trust Administrator such party a certificate of insurance of the insurer for such fidelity bond and the surety including insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerServicer, the Trustee and the NIMS Insurer.
Appears in 4 contracts
Samples: Securitization Subservicing Agreement (Sasco 2006-Bc2), Securitization Subservicing Agreement (Structured Asset Investment Loan Trust 2004-6), Securitization Subservicing Agreement (Sasco 2006-Bc3)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementFxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Trust AdministratorMaster Servicer, the related Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to the Trust Administrator such party a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerServicer, the Trustee and the NIMS Insurer.
Appears in 4 contracts
Samples: Securitization Servicing Agreement (First Franklin Mortgage Loan Trust 2006-Ff17), Securitization Servicing Agreement (First Franklin Mortgage Loan Trust 2006-Ff15), Securitization Servicing Agreement (First Franklin Mortgage Loan Trust 2006-FFB)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance PolicyPolicy acceptable to Xxxxxx Mae or Xxxxxxx Mac, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal acceptable to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Mae or Xxxxxxx Mac. Upon the request of the Trust AdministratorOwner, the related Servicer shall cause to be delivered to the Trust Administrator Owner a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOwner.
Appears in 4 contracts
Samples: Servicing Agreement (HSI Asset Securitization CORP Trust 2007-Nc1), Servicing Agreement (HSI Asset Securitization CORP Trust 2006-He1), Servicing Agreement (HASCO Trust 2007-He2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to Xxxxxx Mae or Xxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 4 contracts
Samples: Seller's Warranties and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar5), Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-Wf2), Servicing Agreement (Structured Asset Securities Corp 2005-Wf4)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Company 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 related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to Xxxxxx Mae or Xxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 4 contracts
Samples: Master Seller’s Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-10xs), Master Seller’s Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar), Master Seller’s Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-8xs)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal acceptable to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementFannie Mae or Freddie Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer shall cause to be Comxxxx xhall cauxx xx xe delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 4 contracts
Samples: Seller's Warranties and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-A2), Seller's Warranties and Servicing Agreement (Merrill Lynch Mortgage Backed Securities Trust, Series 2007-1), Seller's Warranties and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-A1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“"Servicer Employees”"). Any Except with respect to Ocwen Federal Bank FSB, any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Financial Institution Bond Form 22 - Fidelity Bond American International Specialty Lines Insurance Policy Form ("5713 5/93") Mortgage Banker’s Blanket Bond Banker Broker E&O and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such With respect to Ocwen Federal Bank FSB, such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Financial Institution Bond Form 24 Fidelity Bond American International Specialty Lines Insurance Policy form ("43350 12/90" ) or otherwise in a form acceptable to FNMA or FHMLC, and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the Servicer Employees. Each Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the related Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.19 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirement. Upon the request of the Trust Administrator, the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (CSFB Abs Trust Series 2001-He22), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (CSFB Mortgage Pass Through Certificates Series 2001-He1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companiescompanies that would meet the requirements of Xxxxxx Xxx, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the failure to maintain any insurance policies required pursuant to this agreement and the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any Any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal comply with the applicable requirements from time to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver time of such requirementXxxxxx Mae. Upon the request of the Trust Administratorrequest, the related Servicer shall cause to be delivered to the Trust Administrator Owner a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOwner.
Appears in 4 contracts
Samples: Flow Servicing Agreement (PennyMac Mortgage Investment Trust), Flow Servicing Agreement (Pennymac Financial Services, Inc.), Flow Servicing Agreement (PennyMac Mortgage Investment Trust)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Interim Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Loans. These policies shall insure the Interim Servicer Employees”)against losses resulting from dishonest or fraudulent acts committed by the Interim Servicer's personnel, any employees of outside firms that provide data processing services for the Interim Servicer, and temporary contract employees or student interns. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall also protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Interim Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Interim Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementAccepted Servicing Practices. Upon the request of the Trust AdministratorPurchaser, the related Interim Servicer shall cause to be delivered to the Trust Administrator Purchaser a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Sabr Trust 2005-Fr2), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He3), Pooling and Servicing Agreement (Sabr Trust 2005-Fr3)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companiescompanies that would meet the requirements of Xxxxxx Mae, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the failure to maintain any insurance policies required pursuant to this agreement and the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any Any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal comply with the applicable requirements from time to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver time of such requirementXxxxxx Xxx. Upon the request of the Trust Administratorrequest, the related Servicer shall cause to be delivered to the Trust Administrator Owner a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOwner.
Appears in 4 contracts
Samples: Flow Servicing Agreement (PennyMac Financial Services, Inc.), Flow Servicing Agreement, Flow Servicing Agreement (Pennymac Financial Services, Inc.)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Fannie Mae in the related Servicer has obtained a waiver of such requirement. Upon Fannie Mae Guides or by Freddie Mac in the request of the Trust Administrator, the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerFredxxx Xxc Guides.
Appears in 4 contracts
Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-6xs), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-8ar), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-16ax)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer Company 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 related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to Xxxxxx Mae or Xxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 3 contracts
Samples: Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-2f), Flow Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2006-Ar1), Flow Seller’s Warranties and Servicing Agreement (GSR 2006-Ar2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding coverage amounts required which are acceptable for the Servicer as determined by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Xxx and Xxxxxxx Mac. Upon the request of the Trust AdministratorMaster Servicer, the related Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to the Trust Administrator such party a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerServicer, the Trustee and the NIMS Insurer.
Appears in 3 contracts
Samples: Securitization Servicing Agreement (Fieldstone Mortgage Investment CORP), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc3), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlementembezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Trust AdministratorMaster Servicer, the related Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to the Trust Administrator such person a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in each such amounts generally acceptable for entities serving as master servicerperson.
Appears in 3 contracts
Samples: Securitization Servicing Agreement (Aames Mortgage Tr Mort Pas Thru Cert Sers 2003-1), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Ser 2003 S1), Securitization Servicing Agreement (Structured Asset Inv Loan Mort Pass Thru Cer Ser 2003-Bc7)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal acceptable to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Xxx or Xxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 3 contracts
Samples: Seller's Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-5), Seller's Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-6), Seller's Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-4)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to Xxxxxx Mae or Xxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 3 contracts
Samples: Servicing Agreement (Sail 2006-2), Servicing Agreement (Sasco 2006-Wf1), Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2006-Af1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer Company 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 related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal acceptable to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Mae or Xxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 3 contracts
Samples: Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-3f), Servicing Agreement (Thornburg Mortgage Securities Trust 2005-4), Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-1f)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companiescompanies that would meet the requirements of Xxxxxx Mae, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the failure to maintain any insurance policies required pursuant to this agreement and the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any Any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal comply with the applicable requirements from time to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver time of such requirementXxxxxx Xxx. Upon the request of the Trust AdministratorOwner, the related Servicer shall cause to be delivered to the Trust Administrator Owner a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ thirty (30) days prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOwner.
Appears in 3 contracts
Samples: Servicing Agreement (Deutsche Alt-B Securities Mortgage Loan Trust, Series 2006-Ab3), Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa2), Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Oa1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Subservicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer Subservicer 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 related Servicer Subservicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Subservicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Subservicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Subservicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Fxxxxx Mxx in the related Servicer has obtained a waiver of such requirementFxxxxx Mae Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx’ & Subservicers’ Guide. Upon the request of the Trust AdministratorServicer, the related Servicer Master Servicer, the Trustee or the NIMS Insurer, the Subservicer shall cause to be delivered to the Trust Administrator such party a certificate certified true copy of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerpolicy.
Appears in 3 contracts
Samples: Securitization Subservicing Agreement (Lehman XS Trust Series 2006-Gp2), Securitization Subservicing Agreement (Lehman XS Trust Series 2006-4n), Securitization Subservicing Agreement (Lehman XS Trust Series 2006-Gp1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Financial Institution Bond Form 24 - Fidelity Bond American International Specialty Lines Insurance Policy Form ("43350 12/90") Mortgage Banker’s Blanket Bond Banker Broker E&O and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementFannie Mae. Upon the request Upxx xxx xxxuest of the Trust AdministratorTrustee, the related Servicer shall cause to be delivered to the Trust Administrator Trustee a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerTrustee.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Pass Through Certificates Series 2002-2), Pooling and Servicing Agreement (Home Equity Mortgage Pass Through Certificates Series 2002-2), Pooling and Servicing Agreement (Credit Suisse First Boston Mor Sec Corp Series 2002-1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer Company 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 related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal acceptable to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementFxxxxx Mae or Fxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 3 contracts
Samples: Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-Ar2), Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-3f), Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-2f)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlementembezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 2.11 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Xxxxxx Mae in the related Servicer has obtained a waiver of such requirementXxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Mac Servicers’ & Servicers’ Guide. Upon the request of the Trust AdministratorOwner, the related Servicer shall cause to be delivered to the Trust Administrator Owner a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOwner.
Appears in 3 contracts
Samples: Servicing Agreement (GSR 2006-4f), Servicing Agreement (GSR Mortgage Loan Trust 2006-2f), Servicing Agreement (GSR 2006-5f)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to FNMA or FHLMC. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 3 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Pass THR Cert Ser 2002 Bc3), Servicing Agreement (Structured Asset Sec Corp Pass THR Cert Ser 2002 Bc3), Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Ce Se 2001-Bc3)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.14 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Xxxxxx Xxx in the related Servicer has obtained a waiver of such requirementXxxxxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Trust Administratorany Owner, the related Servicer shall cause to be delivered to the Trust Administrator such Owner a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOwner.
Appears in 3 contracts
Samples: Master Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2002 4h), Master Servicing Agreement (Structured Asset Securities Corp), Master Servicing Agreement (Structured Asset Securities Corp 2004-18h)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to Fannie Mae or Freddie Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer shall cause xxx Xxmpany shxxx xxxse to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 3 contracts
Samples: Seller's Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar), Seller's Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-5ar), Seller's Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-3ar)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer Company 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 related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to Xxxxxx Mae or Xxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 3 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-26), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc11), Servicing Agreement (Structured Asset Securities Corp Trust 2005-6)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Interim Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Interim 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 related Interim Servicer against losses, including forgery, theft, embezzlementembezzle-ment, fraud, errors and omissions and negligent acts of such Interim Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Interim Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Interim Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Fxxxxx Mae in the related Servicer has obtained a waiver of such requirementFxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Mac Interim Servicers’ & Servicers’ Guide. Upon the request of the Trust AdministratorPurchaser, the related Interim Servicer shall cause to be delivered to the Trust Administrator Purchaser a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 3 contracts
Samples: Interim Servicing Agreement (Lehman XS Trust Series 2006-Gp1), Interim Servicing Agreement (Lehman XS Trust Series 2006-4n), Interim Servicing Agreement (Lehman XS Trust Series 2006-Gp2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal acceptable to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementFannie Mae or Freddie Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer shall Compaxx xxxll cause to be xx xx delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 3 contracts
Samples: Trust Agreement (BCAP LLC Trust 2007-Aa4), Trust Agreement (BCAPB LLC Trust 2007-Ab1), Trust Agreement (BCAP LLC Trust 2007-Aa2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each (a) The Master Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all directors, officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Master Servicing 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 related Master Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Master Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Master Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 8.02 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Master Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Xxx or Xxxxxxx Mac. Upon the request of the Trust Securities Administrator, the related Master Servicer shall cause to be delivered to the Trust Securities Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Securities Administrator. The Master Servicer shall (i) require each Servicer to maintain an Errors and Omissions Insurance Policy and a Fidelity Bond in accordance with the provisions of the applicable Servicing Agreement, (ii) cause each Servicer to provide to the Master Servicer certificates evidencing that such policy and bond is in effect and to furnish to the Master Servicer any notice of cancellation, non-renewal or modification of the policy or bond received by it, as and to the extent provided in the applicable Servicing Agreement, and (iii) furnish copies of the certificates and notices referred to in clause (ii) to the Securities Administrator upon its request.
(b) The Master Servicer shall promptly report to the Securities Administrator any material changes that may occur in the Master Servicer Fidelity Bond or the Master Servicer Errors and Omissions Insurance Policy and shall furnish to the Securities Administrator, on request, certificates evidencing that such bond and insurance policy are in full force and effect. The Master Servicer shall promptly report to the Securities Administrator, to the best of its knowledge, all cases of forgery, theft, embezzlement, fraud, errors or omissions, if such events involve funds relating to the Mortgage Loans. The total losses, regardless of whether claims are filed with the applicable insurer or surety, shall be disclosed in such reports together with the amount of such losses covered by insurance. If a bond or insurance claim report is filed with any of such bonding companies or insurers, the Master Servicer shall promptly furnish a copy of such report to the Securities Administrator. Any amounts generally acceptable relating to the Mortgage Loans collected by the Master Servicer under any such bond or policy shall be promptly remitted by the Master Servicer to the Securities Administrator for entities serving as master servicerdeposit into the Certificate Account. Any amounts relating to the Mortgage Loans collected by any Servicer under any such bond or policy shall be remitted to the Master Servicer to the extent provided in the applicable Servicing Agreement.
Appears in 3 contracts
Samples: Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2004-6f), Master Servicing and Trust Agreement (Gs Mortgage Sec Corp Mortgage Pass THR Certs Ser 2004-2f), Master Servicing and Trust Agreement (Gs Mortgage Sec Corp Mort Pass THR Certs Ser 2004-3f)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to Fannie Mae or Freddie Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer shall Compaxx xxxll cause to be xx xx delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc Trust 2003-He2), Trust Agreement (Gs Mortgage Securities Corp Mort Pas THR Cert Se 2002 Wf), Trust Agreement (Gs Mortgage Securities Corp Mort Pas THR Cert Se 2002 Wf)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.16 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirement. Upon the request of the Trust Administrator, the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (CSMC Asset-Backed Trust 2007-Nc1), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-6), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-6)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond Bond”) and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), 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 related Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy may contain a deductible clause on terms substantially equivalent to those commercially available and maintained by comparable servicers. 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.06 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Xxx. Upon the request of the Trust AdministratorIndenture Trustee or the Insurer, the related Servicer shall cause to be delivered to the Trust Administrator Indenture Trustee or the Insurer a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicersurety.
Appears in 3 contracts
Samples: Sale and Servicing Agreement (IndyMac Home Equity Mortgage Loan Asset-Backed Trust, Series 2006-H4), Sale and Servicing Agreement (IndyMac Home Equity Mortgage Loan Asset-Backed Trust, Series 2006-H2), Sale and Servicing Agreement (IndyMac Home Equity Mortgage Loan Asset-Backed Trust, Series 2007-H1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Fannie Mae in the related Servicer has obtained a waiver of such requirement. Upon Fannie Mae Guides or by Freddie Mac in the request of the Trust Administrator, the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerFrexxxx Xac Guides.
Appears in 3 contracts
Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-1xs), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-11), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-2ax)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Special Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Transferred Mortgage Loans (“Special 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 related Special Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Special Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Special Servicer against losses in connection with the release or satisfaction of a related Transferred Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Special Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Fxxxxx Mxx in the related Servicer has obtained a waiver of such requirementFxxxxx Mae Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Trust AdministratorMaster Servicer or the Trustee, the related Special Servicer shall cause to be delivered to the Trust Administrator such party a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerServicer.
Appears in 2 contracts
Samples: Servicing Agreement (Lehman Mortgage Trust 2007-10), Servicing Agreement (Lehman Mortgage Trust 2007-5)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each (a) The Master Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all directors, officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Master Servicing 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 related Master Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Master Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Master Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 8.02 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Master Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Xxx or Freddie Mac. Upon the request of the Trust Securities Administrator, the related Master Servicer shall cause to be delivered to the Trust Securities Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days’ prior written notice to the Trust Securities Administrator. The Master Servicer shall (i) require each Servicer to maintain an Errors and Omissions Insurance Policy and a Fidelity Bond in accordance with the provisions of the applicable Servicing Agreement, (ii) cause each Servicer to provide to the Master Servicer certificates evidencing that such policy and bond is in effect and to furnish to the Master Servicer any notice of cancellation, non-renewal or modification of the policy or bond received by it, as and to the extent provided in the applicable Servicing Agreement, and (iii) furnish copies of the certificates and notices referred to in clause (ii) to the Securities Administrator upon its request.
(b) The Master Servicer shall promptly report to the Securities Administrator any material changes that may occur in the Master Servicer Fidelity Bond or the Master Servicer Errors and Omissions Insurance Policy and shall furnish to the Securities Administrator, on request, certificates evidencing that such bond and insurance policy are in full force and effect. The Master Servicer shall promptly report to the Securities Administrator, to the best of its knowledge, all cases of forgery, theft, embezzlement, fraud, errors or omissions, if such events involve funds relating to the Mortgage Loans. The total losses, regardless of whether claims are filed with the applicable insurer or surety, shall be disclosed in such reports together with the amount of such losses covered by insurance. If a bond or insurance claim report is filed with any of such bonding companies or insurers, the Master Servicer shall promptly furnish a copy of such report to the Securities Administrator. Any amounts generally acceptable relating to the Mortgage Loans collected by the Master Servicer under any such bond or policy shall be promptly remitted by the Master Servicer to the Securities Administrator for entities serving as master servicerdeposit into the Certificate Account. Any amounts relating to the Mortgage Loans collected by any Servicer under any such bond or policy shall be remitted to the Master Servicer to the extent provided in the applicable Servicing Agreement.
Appears in 2 contracts
Samples: Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2006-1f), Master Servicing and Trust Agreement (GSR 2006-Ar2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.16 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirement. Upon the request of the Trust AdministratorTrustee, the related Servicer shall cause to be delivered to the Trust Administrator Trustee a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerTrustee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (CSMC Asset-Backed Trust 2007-Nc1), Pooling and Servicing Agreement (CSMC Asset-Backed Trust 2007-Nc1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 2.11 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless Xxxxxx Xxx in the related Xxxxxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx/Servicer has obtained a waiver of such requirementGuide. Upon the request of the Trust AdministratorOwner, the related Servicer shall cause to be delivered to the Trust Administrator Owner a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOwner.
Appears in 2 contracts
Samples: Servicing Agreement (GSR Mortgage Loan Trust 2006-8f), Servicing Agreement (GSR Mortgage Loan Trust 2007-2f)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to Xxxxxx Mae or Xxxxxxx Mac. Upon the request of the Trust AdministratorTrustee, the related Servicer shall cause to be delivered to the Trust Administrator Trustee a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerTrustee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (First NLC Securitization, Inc.), Pooling and Servicing Agreement (FBR Securitization, Inc.)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to Fannie Mae or Freddie Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Xxxxxny shall cause xxxxx to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 2 contracts
Samples: Seller's Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-11), Seller's Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-13arx)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companiescompanies that are acceptable to Fxxxxx Mae and Fxxxxxx Mac, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to Fxxxxx Mae or Fxxxxxx Mac. Upon the request of the Trust Administratorany Owner, the related Servicer shall cause to be delivered to the Trust Administrator such Owner a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOwner.
Appears in 2 contracts
Samples: Flow Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Ar9), Sale and Servicing Agreement (Bear Stearns ARM Trust 2007-2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer Company 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 related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to Xxxxxx Xxx or Xxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 2 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-10), Servicing Agreement (Structured Asset Securities Corp. 2005-14)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be with a company acceptable to Fxxxxx Mae or Fxxxxxx Mac and in amounts at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to Fxxxxx Mae or Fxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 2 contracts
Samples: Master Seller's Warranties and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He3), Pooling and Servicing Agreement (Prime Mortgage Trust 2006-2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companiescompanies that would meet the requirements of Fxxxxx Mxx, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the failure to maintain any insurance policies required pursuant to this agreement and the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any Any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal comply with the applicable requirements from time to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver time of such requirementFxxxxx Mxx. Upon the request of the Trust Administratorrequest, the related Servicer shall cause to be delivered to the Trust Administrator Owner a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOwner.
Appears in 2 contracts
Samples: Flow Servicing Agreement (PennyMac Financial Services, Inc.), Flow Servicing Agreement (PennyMac Financial Services, Inc.)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Financial Institution Bond Form 22 - Fidelity Bond American International Specialty Lines Insurance Policy Form ("5713 5/93") Mortgage Banker’s Blanket Bond Banker Broker E&O and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirement. Upon the request of the Trust AdministratorTrustee, the related Servicer shall cause to be delivered to the Trust Administrator Trustee a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerTrustee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (CSFB Mortgage Pass Through Certificates Series 2001-S23)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Master Servicer and each Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Master Servicer or the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the Master Servicer or such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Master Servicer and each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Master Servicer or a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirement. Upon the request of the Trust Administrator, the Master Servicer or the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (Credit Suisse First Boston Mort Accept Corp Series 2002-5)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable to Fannie Mae or Freddie Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Xxxxxxy shall cause to xxxxx xo be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 2 contracts
Samples: Seller's Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-12xs), Seller's Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-8ar)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer Seller shall maintain with responsible companiesmaintain, at its own expense, a blanket Fidelity Bond and an Errors errors and Omissions Insurance Policyomissions insurance policy, 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 related Mortgage Loans (“Servicer Employees”)Loans. Any such These policies must insure Seller against losses resulting from theft, errors, omissions, negligence, dishonest or fraudulent acts committed by Seller’s personnel, any employees of outside firms that provide data processing services for Seller, and temporary contract employees or student interns. The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall also protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer Seller against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 11.12 requiring such Fidelity Bond and Errors errors and Omissions Insurance Policy omissions insurance shall diminish or relieve a Servicer Seller from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy shall be at least equal to the corresponding amounts amounts, including deductible requirements, required by FNMAthe Agency in the Servicing Guidelines, unless the related Servicer has obtained a as amended or restated from time to time, or in an amount as may be permitted to Seller by express waiver of such requirementthe Agency. Upon the request of the Trust AdministratorPurchaser, the related Servicer Seller shall cause to be delivered to the Trust Administrator Purchaser a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that evidencing such fidelity bond Fidelity Bond and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerpolicy.
Appears in 2 contracts
Samples: Master Mortgage Loan Sale and Servicing Agreement (Sequoia Mortgage Trust 2007-1), Master Mortgage Loan Sale and Servicing Agreement (Sequoia Mortgage Trust 2006-1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companiescompanies that would meet the requirements of Fxxxxx Mae, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the failure to maintain any insurance policies required pursuant to this agreement and the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any Any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal comply with the applicable requirements from time to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver time of such requirementFxxxxx Mxx. Upon the request of the Trust Administratorrequest, the related Servicer shall cause to be delivered to the Trust Administrator Owner a certificate certified true copy of insurance of the insurer such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOwner.
Appears in 2 contracts
Samples: Servicing Agreement (PennyMac Mortgage Investment Trust), Flow Servicing Agreement (PennyMac Financial Services, Inc.)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company or its corporate parent shall maintain on behalf of the Company with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless FNMA in the related Servicer has obtained a waiver of such requirementFNMA Mortgage-Backed Securities Selling and Servicing Guide or by FHLMC in the FHLMC Sellers' & Servicers' Guide. Upon the request of the Trust AdministratorPurchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator Purchaser a certificate certified true copy of such fidelity bond and insurance of the insurer policy and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 2 contracts
Samples: Mortgage Loan Sale, Warranties and Servicing Agreement (Structured Asset Securities Corp), Mortgage Loan Sale, Warranties and Servicing Agreement (Structured Asset Securities Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each Servicer The Company shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall 50 protect and insure each Servicer the Company against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a Servicer the Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal acceptable to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Xxx or Xxxxxxx Mac. Upon the request of the Trust Administratorany Purchaser, the related Servicer Company shall cause to be delivered to the Trust Administrator such Purchaser a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerPurchaser.
Appears in 2 contracts
Samples: Master Seller's Warranties and Servicing Agreement (Banc of America Funding Corp), Master Seller's Warranties and Servicing Agreement (Banc of America Funding Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related 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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementXxxxxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Trust AdministratorMaster Servicer or the Trustee, the related Servicer shall cause to be delivered to the Trust Administrator such party a certificate of insurance of the insurer for such fidelity bond and the surety including insurance policy and a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerand the Trustee.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (Wells Fargo Home Equity Trust Mort Pass Thru Cert Ser 2004-1), Securitization Servicing Agreement (Wells Fargo Home Equity Trust Mort Pass Thru Cert Ser 2004-1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all of its officers, employees or other persons acting in any capacity on behalf of the Servicer requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (the “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 related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure each the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve a the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirementacceptable in accordance with Applicable Requirements. Upon the request of the Trust AdministratorOwner, the related Servicer shall cause to be delivered to the Trust Administrator Owner a certificate of insurance of the insurer for such Fidelity Bond and the surety including Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall in no event be terminated or materially modified without 30 thirty (30) days’ prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicerOwner.
Appears in 2 contracts
Samples: Loan Servicing Agreement (Franklin Credit Management Corp), Loan Servicing Agreement (Franklin Credit Management Corp/De/)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. Each The Master Servicer and each Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, 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 related Mortgage Loans (“in the case of a Servicer, "Servicer Employees”," and in the case of the Master Servicer, "Master Servicing Employees"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Master Servicer or the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of the Master Servicer Employees, in the case of the Master Servicer, or such Servicer Employees, in the case of the Servicer. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Master Servicer and each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Master Servicer or a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the related Servicer has obtained a waiver of such requirement. Upon the request of the Trust Administrator, the Master Servicer or the related Servicer shall cause to be delivered to the Trust Administrator a certificate of insurance of the insurer and the surety including a statement from the surety and the insurer that such fidelity bond and insurance policy shall in no event be terminated or materially modified without 30 days’ ' prior written notice to the Trust Administrator. The Master Servicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certificates Ser 2002 10), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)