Common use of Maintenance of Fidelity Bond and Errors and Omissions Insurance Clause in Contracts

Maintenance of Fidelity Bond and Errors and Omissions Insurance. 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 Mortgage Loans ("Seller 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 Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond and 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 Purchaser.

Appears in 7 contracts

Samples: Warranties and Servicing Agreement (Structured Asset Sec Corp Mort Passthr Certs Ser 2003 40a), Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-17), Servicing Agreement (Sturctured Asset Securities Corp Mort Pass Thru Ser 2004-1)

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Maintenance of Fidelity Bond and Errors and Omissions Insurance. The 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 with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond a mortgage banker’s blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The errors and omissions insurance shall protect and insure the Seller against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac Guides. Upon The Seller shall deliver to the request Purchaser a certificate from the surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. Upon request by the Purchaser, the Seller shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 7 contracts

Samples: Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-12), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companiesmaintain, at its own expense, a blanket Fidelity Bond fidelity bond and an Errors errors and Omissions Insurance Policyomissions insurance policy, with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loan to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loan. Any such The Servicer 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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The Servicer Errors and Omissions Insurance Policy shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond and Servicer Errors and Omissions Insurance Policy shall also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.02(l) requiring such the Servicer Fidelity Bond and or the Servicer Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideGuides. Upon the request of the PurchaserMaster Servicer or the Indenture Trustee, the Seller Servicer shall cause deliver to be delivered the Master Servicer and the Indenture Trustee a certificate from the surety and the insurer as to such Purchaser a certified true copy the existence of such fidelity bond the Servicer Fidelity Bond and insurance policy the Servicer Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such fidelity bond Servicer Fidelity Bond or Servicer Errors and insurance policy Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days' thirty (30) days prior written notice to the PurchaserMaster Servicer. The Servicer shall notify the Master Servicer and the Indenture Trustee within five (5) business days of receipt of notice that such Servicer Fidelity Bond or Servicer Errors and Omissions Insurance Policy will be, or has been, materially modified or terminated. The Issuer must be named as a loss payee on the Servicer Fidelity Bond and as an additional insured on the Servicer Errors and Omissions Insurance Policy. Upon request by the Master Servicer, the Servicer shall provide the Master Servicer with an insurance certificate certifying coverage under this Section 4.02(l), and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 5 contracts

Samples: Transfer and Servicing Agreement (HomeBanc Mortgage Trust 2006-2), Transfer and Servicing Agreement (HomeBanc Mortgage Trust 2005-3), Transfer and Servicing Agreement (HomeBanc Mortgage Trust 2005-2)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. (a) The Seller 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 persons acting in any capacity requiring such Persons persons to handle funds, money, documents or papers relating to the related Mortgage Loans ("Seller “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 or the Financial Institution Bond and shall protect and insure the Seller Master Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller the Master Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller 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 5.13 8.02 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides Fxxxxx Mxx or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideFxxxxxx Mac. Upon the request of the PurchaserSecurities Administrator, the Seller Master Servicer shall cause to be delivered to such Purchaser the Securities Administrator a certified true copy certificate of such fidelity bond insurance of the insurer and insurance 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 PurchaserSecurities 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.

Appears in 4 contracts

Samples: Master Servicing (GSR Mortgage Loan Trust 2006-8f), Trust Agreement (GSR Mortgage Loan Trust 2007-2f), Master Servicing (GSR Mortgage Loan Trust 2007-Ar2)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companiesmaintain, at its own expense, a blanket Fidelity Bond fidelity bond and an Errors errors and Omissions Insurance Policyomissions insurance policy, with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond a mortgage banker’s blanket bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The errors and omissions insurance shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac Guides. Upon The Servicer shall deliver to the request Purchaser a certificate from the surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. The Seller shall notify the Purchaser within five (5) business days of receipt of notice that such Fidelity Bond or insurance policy will be, or has been, materially modified or terminated. The Purchaser (or any party having the status of Purchaser hereunder) and any subsidiary thereof and their successors or assigns as their interests may appear must be named as loss payees on the Fidelity Bond and as additional insured on the errors and omissions policy. Upon request by the Purchaser, the Servicer shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2005-1), Assignment Agreement (Terwin Securitization LLC), Assumption and Recognition Agreement (MASTR Asset Securitization Trust 2006-3)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller “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 Seller Servicer against losses, including forgery, theft, embezzlementembezzle­ment, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the PurchaserMaster Servicer, the Seller Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such Purchaser person a certified true copy of such fidelity bond and 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 Purchasereach such person.

Appears in 3 contracts

Samples: Securitization Servicing Agreement (Aames Mortgage Tr Mort Pas Thru Cert Sers 2003-1), Securitization Servicing Agreement (Structured Asset Inv Loan Mort Pass Thru Cer Ser 2003-Bc7), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Ser 2003 S1)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 persons acting in any capacity requiring such Persons persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such These policies shall insure the Interim Servicer 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. 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 Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Interim Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideAccepted Servicing Practices. Upon the request of the Purchaser, the Seller Interim Servicer shall cause to be delivered to such the Purchaser a certified true copy of such fidelity bond Fidelity Bond and insurance policy 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 Purchaser.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-He3), Pooling and Servicing Agreement (Sabr Trust 2005-Fr3), Indemnification and Contribution Agreement (Sabr Trust 2005-Fr2)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The 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 with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Bankera mortgage banker's Blanket Bond blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The errors and omissions insurance shall protect and insure the Seller against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve 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 Xxxxxx Fannie Mae in the Xxxxxx Xxx Fannie Mae Guides or by Xxxxxxx Freddie Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideFrexxxx Xac Guides. Upon Txx Xxxlxx shall deliver xx xxx Purchaser a xxxxxxxcate from the request surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. Upon request by the Purchaser, the Seller shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 3 contracts

Samples: Assignment Agreement (Morgan Stanley Mortgage Loan Trust 2007-2ax), Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-9ar), And Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2007-1xs)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 persons acting in any capacity requiring such Persons persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 time of Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideXxx. Upon the request of the PurchaserOwner, the Seller Servicer shall cause to be delivered to such Purchaser the Owner a certified true copy of such fidelity bond Fidelity Bond and insurance policy 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 PurchaserOwner.

Appears in 3 contracts

Samples: Flow Servicing Agreement (Deutsche Alt-B Securities Mortgage Loan Trust, Series 2006-Ab3), Flow Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Oa1), Flow Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa2)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expenseexpense without reimbursement thereof, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all of its officers, employees or other Persons persons acting in any capacity on behalf of the Servicer requiring such Persons persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller the “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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guidegenerally acceptable to mortgage lending institutions. Upon the execution of this Agreement and any other time upon the request of the PurchaserOwners, the Seller Servicer shall cause to be delivered to the Owners a certificate of insurance for such Purchaser a certified true copy of such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy and shall request 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 PurchaserOwners.

Appears in 3 contracts

Samples: Loan Servicing Agreement (Franklin Credit Management Corp), Loan Servicing Agreement (Franklin Credit Holding Corp/De/), Loan Servicing Agreement (Franklin Credit Holding Corp/De/)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. 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 Mortgage Loans ("Seller 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 Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Purchaser, the Seller shall cause to be delivered to such the Purchaser a certified true copy of such fidelity bond Fidelity Bond and insurance policy 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 Purchaser. In the event that the surety or insurer charges the Seller a fee for providing such evidence, the Purchaser shall reimburse the Seller for the reasonable expense incurred by the Seller in furnishing such evidence.

Appears in 3 contracts

Samples: Commercial Servicing Agreement (Peoples Preferred Capital Corp), Commercial Servicing Agreement (Peoples Preferred Capital Corp), Servicing Agreement (Franklin Finance Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The 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 with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Bankera mortgage banker's Blanket Bond blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The errors and omissions insurance shall protect and insure the Seller against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve 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 Xxxxxx Fannie Mae in the Xxxxxx Xxx Fannie Mae Guides or by Xxxxxxx Freddie Mac in the Xxxxxxx Freddxx Xxx Xxxxxxx' & Servicers' GuideGuides. Upon The Xxxxxr xxall deliver to xxx Xxrchaser a cexxxxxxxte from the request surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. Upon request by the Purchaser, the Seller shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 3 contracts

Samples: Mortgage Loan Sale and Servicing Agreement (GSAA Home Equity Trust 2006-16), Assignment Agreement (Morgan Stanley Mortgage Loan Trust 2006-7), Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-13arx)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller 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 Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to such Purchaser a certified true copy certificate of insurance for such fidelity bond Fidelity Bond and insurance policy 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 Purchaser.

Appears in 3 contracts

Samples: Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-6), Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-5), Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-4)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The 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 with responsible companies on all officers, employees or other Persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond a mortgage banker’s blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such Persons. The errors and omissions insurance shall protect and insure the Seller against losses arising out of errors and omissions and negligent acts of such Seller EmployeesPersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.11 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac Guides. Upon The Seller shall deliver to the request Purchaser a certificate from the surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. Upon request by the Purchaser, the Seller shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.11, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 3 contracts

Samples: And Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-11ar), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax), Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2007-11ar)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The 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 with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Bankera mortgage banker's Blanket Bond blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The errors and omissions insurance shall protect and insure the Seller against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve 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 Xxxxxx Fannie Mae in the Xxxxxx Xxx Fannie Mae Guides or by Xxxxxxx Freddie Mac in the Xxxxxxx Fxxxxxx Mac Guides. Xxx Xxxxxxx' & Servicers' Guide. Upon Xexxxr shall delivex xx xxe Purchaser x xxxxxficate from the request surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. Upon request by the Purchaser, the Seller shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 3 contracts

Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-3ar), Assignment Agreement (Morgan Stanley Mortgage Loan Trust 2006-17xs), Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-5ar)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. 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 Mortgage Loans ("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 Seller against losses, including forgery, theft, embezzlementembezzle-ment, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve 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 Xxxxxx Fxxxxx Mae in the Xxxxxx Xxx Fxxxxx Mxx Guides or by Xxxxxxx Fxxxxxx Mac in the Xxxxxxx Fxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Purchaser, the Seller shall cause to be delivered to such the Purchaser a certified true copy of such fidelity bond and 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 Purchaser.

Appears in 2 contracts

Samples: Flow Interim Servicing Agreement (Lehman XS Trust Series 2006-Gp2), Flow Interim Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Ar4)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. 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 Mortgage Loans ("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 Seller against losses, including forgery, theft, embezzlementembezzle-ment, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Purchaser, the Seller shall cause to be delivered to such the Purchaser a certified true copy of such fidelity bond and 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 Purchaser.

Appears in 2 contracts

Samples: Flow Interim Servicing Agreement (Lehman XS Trust Series 2007-15n), Flow Interim Servicing Agreement (Lehman XS Trust Series 2006-Gp3)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 persons acting in any capacity requiring such Persons persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller 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 Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae FNMA in the Xxxxxx Xxx Guides FNMA Mortgage-Backed Securities Selling and Servicing Guide or by Xxxxxxx Mac FHLMC in the Xxxxxxx Xxx XxxxxxxFHLMC Sellers' & Servicers' Guide. Upon the request of the Purchaser, the Seller Company shall cause to be delivered to such the Purchaser a certified true copy of such fidelity bond and 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 Purchaser.

Appears in 2 contracts

Samples: Warranties and Servicing Agreement (Structured Asset Securities Corp), 1998 Agreement (Structured Asset Securities Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, 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 persons acting in any capacity requiring such Persons persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Servicer Employees"). Any such Fidelity Bond and Errors errors and Omissions Insurance Policy omissions insurance policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors errors and Omissions Insurance Policy omissions insurance policy also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 3.13 requiring such Fidelity Bond and Errors errors and Omissions Insurance Policy omissions insurance policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide, or as otherwise acceptable to Xxxxxx Mae and Xxxxxxx Mac. Upon the request of the PurchaserMaster Servicer, the Seller Servicer shall cause to be delivered to such Purchaser party a certified true copy certificate of insurance for such fidelity bond and 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 PurchaserMaster Servicer and the Trustee. The Servicer shall notify the Master Servicer and the Trustee within five business days of receipt of notice that such Fidelity Bond or insurance policy will be, or has been, materially modified or terminated. The Master Servicer and the Trustee shall be named as loss payees on the Fidelity Bond and as additional insured on the errors and omissions policy.

Appears in 2 contracts

Samples: Securitization Servicing Agreement (TBW 2006-2), Securitization Servicing Agreement (TBW 2006-1)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller 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 Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall 50 protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to such Purchaser a certified true copy certificate of insurance for such fidelity bond Fidelity Bond and insurance policy 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 Purchaser.

Appears in 2 contracts

Samples: Assumption and Recognition Agreement (Banc of America Funding 2006-2 Trust), Assumption and Recognition Agreement (Banc of America Funding 2006-3 Trust)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 persons acting in any capacity requiring such Persons persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Servicer Employees"). Any such Fidelity Bond shall be in the form of the Mortgage Banker’s Blanket Bond and 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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by and Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac. Upon the request of the PurchaserOwner, the Seller Servicer shall cause to be delivered to such Purchaser the Owner a certified true copy of such fidelity bond Fidelity Bond and insurance policy 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 days prior written notice to the PurchaserOwner. The Servicer shall notify the Owner within five (5) Business Days of receipt of notice that such Fidelity Bond and Errors and Omissions Insurance Policy will be, or has been, materially modified or terminated.

Appears in 2 contracts

Samples: Servicing Agreement (Deutsche Alt-B Securities Mortgage Loan Trust, Series 2007-Ab1), Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-1)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companiesmaintain, at its own expense, a blanket Fidelity Bond fidelity bond and an Errors errors and Omissions Insurance Policyomissions insurance policy, with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loan to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loan. Any such The Servicer 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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The Servicer Errors and Omissions Insurance Policy shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond and Servicer Errors and Omissions Insurance Policy shall also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.02(l) requiring such the Servicer Fidelity Bond and or the Servicer Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideGuides. Upon the request of the PurchaserMaster Servicer or the Trustee, the Seller Servicer shall cause deliver to be delivered the Master Servicer and the Trustee a certificate from the surety and the insurer as to such Purchaser a certified true copy the existence of such fidelity bond the Servicer Fidelity Bond and insurance policy the Servicer Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such fidelity bond Servicer Fidelity Bond or Servicer Errors and insurance policy Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days' thirty (30) days prior written notice to the PurchaserMaster Servicer. The Servicer shall notify the Master Servicer and the Trustee within five (5) business days of receipt of notice that such Servicer Fidelity Bond or Servicer Errors and Omissions Insurance Policy will be, or has been, materially modified or terminated. The Trustee on behalf of the Trust must be named as a loss payee on the Servicer Fidelity Bond and as an additional insured on the Servicer Errors and Omissions Insurance Policy. Upon request by the Master Servicer, the Servicer shall provide the Master Servicer with an insurance certificate certifying coverage under this Section 4.02(l), and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (HomeBanc 2007-1), Pooling and Servicing Agreement (HomeBanc 2006-1)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller 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 Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall 50 protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to such Purchaser a certified true copy certificate of insurance for such fidelity bond Fidelity Bond and insurance policy 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 Purchaser.

Appears in 2 contracts

Samples: Assumption and Recognition Agreement (Banc of America Funding Corp), Assumption and Recognition Agreement (Banc of America Funding Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companiesmaintain, at its own expense, a blanket Fidelity Bond fidelity bond and an Errors errors and Omissions Insurance Policyomissions insurance policy, with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond a mortgage banker’s blanket bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The errors and omissions insurance shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac Guides. Upon The Servicer shall deliver to the request of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond and insurance policy and a statement certificate from the surety and the insurer that such fidelity bond as to the existence of the Fidelity Bond and errors and omissions insurance policy and shall in no event be terminated not terminate or materially modified modify such Fidelity Bond or errors and omissions insurance policy without 30 thirty (30) days' prior written notice to the Purchaser. The Seller shall notify the Purchaser within five (5) business days of receipt of notice that such Fidelity Bond or insurance policy will be, or has been, materially modified or terminated. The Purchaser (or any party having the status of Purchaser hereunder) and any subsidiary thereof and their successors or assigns as their interests may appear must be named as loss payees on the Fidelity Bond and as additional insured on the errors and omissions policy. Upon request by the Purchaser, the Servicer shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 2 contracts

Samples: Assumption and Recognition Agreement (CSMC Mortgage Backed Trust Series 2007-1), Assumption and Recognition Agreement (CSMC Trust 2007-4)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller 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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae FNMA in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' FNMA Mortgage-Backed Securities Selling and Servicing Guide. Upon the request of the Purchaser, the Seller Servicer shall cause to be delivered to such the Purchaser a certified true copy of such fidelity bond Fidelity Bond and insurance policy 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 Purchaser. In the event that the surety or insurer charges the Servicer a fee for providing such evidence, the Purchaser shall reimburse the Servicer for the reasonable expense incurred by the Servicer in furnishing such evidence.

Appears in 2 contracts

Samples: Servicing Agreement (California Federal Preferred Capital Corpation), Servicing Agreement (First Nationwide Preferred Capital Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller “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 Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae Fxxxxx Mxx in the Xxxxxx Xxx Guides Fxxxxx Mae Mortgage-Backed Securities Selling and Servicing Guide or by Xxxxxxx Fxxxxxx Mac in the Xxxxxxx Fxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond and insurance policy policy, or a certificate of insurance setting forth the related coverage, 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 Purchaser.

Appears in 2 contracts

Samples: Reconstituted Servicing Agreement (LXS 2007-3), Warranties and Servicing Agreement (Lehman XS Trust Series 2006-12n)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The 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 with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Bankera mortgage banker's Blanket Bond blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The errors and omissions insurance shall protect and insure the Seller against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve 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 Xxxxxx Fannie Mae in the Xxxxxx Xxx Fannie Mae Guides or by Xxxxxxx Freddie Mac in the Xxxxxxx Freddix Xxx Xxxxxxx' & Servicers' GuideGuides. Upon The Xxxxxx xxxll deliver to xxx Xxxchaser a cerxxxxxxxe from the request surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. Upon request by the Purchaser, the Seller shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 2 contracts

Samples: Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-8ar), Servicing Agreement (GSAA Home Equity Trust 2006-14)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The 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 with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond a mortgage banker’s blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The errors and omissions insurance shall protect and insure the Seller against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve 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 Xxxxxx Fxxxxx Mae in the Xxxxxx Xxx Fxxxxx Mxx Guides or by Xxxxxxx Fxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideFxxxxxx Mac Guides. Upon The Seller shall deliver to the request Purchaser a certificate from the surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. Upon request by the Purchaser, the Seller shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 2 contracts

Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax), Assignment, Assumption and Recognition Agreement (Prime Mortgage Trust 2007-1)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companiesmaintain, at its own expense, a blanket Fidelity Bond fidelity bond and an Errors errors and Omissions Insurance Policyomissions insurance policy, with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loan to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loan. Any such The Servicer 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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The Servicer Errors and Omissions Insurance Policy shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond and Servicer Errors and Omissions Insurance Policy shall also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.02(l) requiring such the Servicer Fidelity Bond and or the Servicer Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideGuides. Upon the request of the PurchaserMaster Servicer or the Indenture Trustee, the Seller Servicer shall cause deliver to be delivered the Master Servicer and the Indenture Trustee a certificate from the surety and the insurer as to such Purchaser a certified true copy the existence of such fidelity bond the Servicer Fidelity Bond and insurance policy the Servicer Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such fidelity bond Servicer Fidelity Bond or Servicer Errors and insurance policy Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days' thirty (30) days prior written notice to the PurchaserMaster Servicer. The Servicer shall notify the Master Servicer and the Indenture Trustee within five (5) business days of receipt of notice that such Servicer Fidelity Bond or Servicer Errors and Omissions Insurance Policy will be, or has been, materially modified or terminated. The Issuer must be named as a loss payee on the Servicer Fidelity Bond and as an additional insured on the Servicer Errors and Omissions Insurance Policy. Upon request by the Master Servicer, the Servicer shall provide the Master Servicer with an insurance certificate certifying coverage under this Section 4.02(l), and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 2 contracts

Samples: Transfer and Servicing Agreement (Homebanc Corp), Transfer and Servicing Agreement (Homebanc Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller 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 Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 5.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Fannie Mae in the Xxxxxx Xxx Fannie Mae Guides or by Xxxxxxx Freddie Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideFreddie Mac Xxxxxs. Upon Xpon the request xxxxxxt of the Purchaser, the Seller xxx Xompany shall cause xxxxx to be delivered to such Purchaser a certified true copy of such fidelity bond and 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 Purchaser. Upon request of the Purchaser, the Company shall cause to be delivered to the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to the Purchaser.

Appears in 1 contract

Samples: Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-23)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. 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 Mortgage Loans ("Seller 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 Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve 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 Xxxxxx Mae Xxx in the Xxxxxx Xxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond and 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 Purchaser.

Appears in 1 contract

Samples: Warranties and Servicing Agreement (Lehman Sarm 2005-5)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The 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 with responsible companies that would meet the requirements of Xxxxxx Mae or Xxxxxxx Mac on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Bankera mortgage banker's Blanket Bond blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The errors and omissions insurance shall protect and insure the Seller against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac Guides. Upon The Seller shall deliver to the request Purchaser a certificate from the surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. Upon request by the Purchaser, the Seller shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Merrill Lynch Alternative Note Asset Trust, Series 2007-F1

Maintenance of Fidelity Bond and Errors and Omissions Insurance. 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 Mortgage Loans ("Seller 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 Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae FNMA in the Xxxxxx Xxx Guides FNMA Mortgage-Backed Securities Selling and Servicing Guide or by Xxxxxxx Mac FHLMC in the Xxxxxxx Xxx Xxxxxxx' & Servicers' FHLMC Guide. Upon the request of the Purchaser, the Seller shall cause to be delivered to such the Purchaser a certified true copy of such fidelity bond Fidelity Bond and insurance policy 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 Purchaser. In the event that the surety or insurer charges the Seller a fee for providing such evidence, the Purchaser shall reimburse the Seller for the reasonable expense incurred by the Seller in furnishing such evidence.

Appears in 1 contract

Samples: Residential Servicing Agreement (Peoples Preferred Capital Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller 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 Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Fannie Mae or Freddix Xxx and in axxxxxx at least equal to the corresponding amounts required by Xxxxxx acceptable to Fannie Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideFreddix Xxx. Upon the request thx xxxxxst of the any Purchaser, the Seller Company shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond and 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 Purchaser.

Appears in 1 contract

Samples: Distribution Instructions (Bear Stearns Asset Backed Securities I Trust 2006-Ac2)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller “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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac. Upon the request of the PurchaserOwner, the Seller Servicer shall cause to be delivered to the Owner a certificate of insurance for such Purchaser a certified true copy of such fidelity bond Fidelity Bond and insurance policy 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 PurchaserOwner.

Appears in 1 contract

Samples: Servicing Agreement (Banc of America Funding Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller 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 Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to such Purchaser a certified true copy certificate of insurance for such fidelity bond Fidelity Bond and insurance policy 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 Purchaser.

Appears in 1 contract

Samples: Indemnification Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-A4)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller “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 Seller Company against losses, including forgery, theft, embezzlementembezzle-ment, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 5.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac Guides. Upon the request of the Purchaser, the Seller Company shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond and 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 Purchaser. Upon request of the Purchaser, the Company shall cause to be delivered to the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Purchaser.

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman Mortgage Trust 2007-5)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companiesmaintain, at its own expense, a blanket Fidelity Bond fidelity bond and an Errors errors and Omissions Insurance Policyomissions insurance policy, with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loan to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loan. Any such The Servicer 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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The Servicer Errors and Omissions Insurance Policy shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond and Servicer Errors and Omissions Insurance Policy shall also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.02(l) requiring such the Servicer Fidelity Bond and or the Servicer Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideGuides. Upon the request of the PurchaserMaster Servicer or the Indenture Trustee, the Seller Servicer shall cause deliver to be delivered the Master Servicer and the Indenture Trustee a certificate from the surety and the insurer as to such Purchaser a certified true copy the existence of such fidelity bond the Servicer Fidelity Bond and insurance policy the Servicer Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such fidelity bond Servicer Fidelity Bond or Servicer Errors and insurance policy Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days' thirty (30) days prior written notice to the PurchaserMaster Servicer. The Servicer shall notify the Master Servicer and the Indenture Trustee within five (5) business days of receipt of notice that such Servicer Fidelity Bond or Servicer Errors and Omissions Insurance Policy will be, or has been, materially modified or terminated. The Issuer must be named as a loss payee on the Servicer Fidelity Bond and as an additional insured on the Servicer Errors and Omissions Insurance Policy. Upon request by the Master Servicer, the Servicer shall provide the Master Servicer with an insurance certificate certifying coverage under Transfer and Servicing Agreement this Section 4.02(l), and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Homebanc Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller 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 Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to such Purchaser a certified true copy certificate of insurance for such fidelity bond Fidelity Bond and insurance policy 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 Purchaser.

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (Banc of America Funding 2006-3 Trust)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companiesmaintain, at its own expense, a blanket Fidelity Bond fidelity bond and an Errors errors and Omissions Insurance Policyomissions insurance policy, with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loan to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loan. Any such The Servicer 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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The Servicer Errors and Omissions Insurance Policy shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond and Servicer Errors and Omissions Insurance Policy shall also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.02(l) requiring such the Servicer Fidelity Bond and or the Servicer Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae Xxx in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMae Guides. Upon the request of the PurchaserMaster Servicer or the Indenture Trustee, the Seller Servicer shall cause deliver to be delivered the Master Servicer and the Indenture Trustee a certificate from the surety and the insurer as to such Purchaser a certified true copy the existence of such fidelity bond the Servicer Fidelity Bond and insurance policy the Servicer Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such fidelity bond Servicer Fidelity Bond or Servicer Errors and insurance policy Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days' thirty (30) days prior written notice to the PurchaserMaster Servicer. The Servicer shall notify the Master Servicer and the Indenture Trustee within five (5) business days of receipt of notice that such Servicer Fidelity Bond or Servicer Errors and Omissions Insurance Policy will be, or has been, materially modified or terminated. The Issuer must be named as a loss payee on the Servicer Fidelity Bond and as an additional insured on the Servicer Errors and Omissions Insurance Policy. Upon request by the Master Servicer, the Servicer shall provide the Master Servicer with an insurance certificate certifying coverage under this Section 4.02(l), and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Homebanc Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller shall maintain continue to maintain, for Seller and its Subsidiaries, 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 (“Seller Employees”) acting in any capacity requiring such Persons persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller Employees")Loans, with respect to any claims made in connection with all or any portion of the Purchased Assets. Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the standard form of the Mortgage Banker's Blanket Bond mortgage banker’s blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 section requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideRequired Insurance Amount. Upon the request of the PurchaserBuyer, the Seller shall cause to be delivered to the Buyer a certificate of insurance for such Purchaser a certified true copy of such fidelity bond Fidelity Bond and insurance policy 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 PurchaserBuyer. If requested by Buyer, the Seller shall ensure that Buyer is granted the ability to make direct claims under each of the Fidelity Bond and Errors and Omissions Insurance Policy.

Appears in 1 contract

Samples: Master Repurchase Agreement (loanDepot, Inc.)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. 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 Mortgage Loans ("Seller Employees")Loans. Any such Fidelity Bond and Errors and Omissions Insurance Policy These policies shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller against losseslosses resulting from dishonest or fraudulent acts committed by the Seller's personnel, including forgeryany employees of outside firms that provide data processing services for the Seller, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employeestemporary contract employees or student interns. Such The Fidelity Bond and Errors and Omissions Insurance Policy shall also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the 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 required by Xxxxxx Fannie Mae in the Xxxxxx Xxx Guides Fannie Mae Servicing Guide or by Xxxxxxx Freddie Mac in the Xxxxxxx Fxxxxxx Xxx XxxxxxxServicexx' & Servicers' GuideXxide or in an amount as may xx xxxxitted to the Xxxxxx by express waiver of Fannie Mae or Freddie Mac. Upon the request of the Purchaser, the Seller shall cause Sellex xxxxl xxuse xx xx xelivered to be delivered to such the Purchaser a certified true copy of such fidelity bond Fidelity Bond and insurance policy 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 Purchaser.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (BCAP LLC Trust 2008-Ind1)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companiesmaintain, at its own expense, a blanket Fidelity Bond fidelity bond and an Errors errors and Omissions Insurance Policyomissions insurance policy, with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loan to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loan. Any such The Servicer 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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The Servicer Errors and Omissions Insurance Policy shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond and Servicer Errors and Omissions Insurance Policy shall also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.02(l) requiring such the Servicer Fidelity Bond and or the Servicer Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideGuides. Upon the request of the PurchaserMaster Servicer or the Trustee, the Seller Servicer shall cause deliver to be delivered the Master Servicer and the Trustee a certificate from the surety and the insurer as to such Purchaser a certified true copy the existence of such fidelity bond the Servicer Fidelity Bond and insurance policy the Servicer Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such fidelity bond Servicer Fidelity Bond or Servicer Errors and insurance policy Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days' thirty (30) days prior written notice to the PurchaserMaster Servicer. The Servicer shall notify the Master Servicer and the Trustee within five (5) business days of receipt of notice that such Servicer Fidelity Bond or Servicer Errors and Omissions Insurance Policy will be, or has been, materially modified or terminated. The Trustee on behalf of the Trust must be named as a loss payee on the Servicer Fidelity Bond and as an additional insured on the Servicer Errors and Omissions Insurance Policy. Upon request by the Master Servicer, the Servicer shall provide the Master Servicer with an insurance certificate certifying coverage under this Section 4.02(l), and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Homebanc Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The 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 with responsible companies on all officers, employees or other Persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Bankera mortgage banker's Blanket Bond blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such Persons. The errors and omissions insurance shall protect and insure the Seller against losses arising out of errors and omissions and negligent acts of such Seller EmployeesPersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.11 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve 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 Xxxxxx Fannie Mae in the Xxxxxx Xxx Fannie Mae Guides or by Xxxxxxx Freddie Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideFredxxx Xxc Guides. Upon Thx Xxxxex xhall deliver tx xxx Xurchaser a cxxxxxxxate from the request surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. Upon request by the Purchaser, the Seller shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.11, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Assignment Agreement (Morgan Stanley Mortgage Loan Trust 2007-2ax)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. 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 Mortgage Loans ("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 Seller against losses, including forgery, theft, embezzlementembezzle­ment, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac Guides. Upon the reasonable request of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond and 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 Purchaser.

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-10)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. 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 Mortgage Loans ("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 Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve 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 Xxxxxx Mae Xxx in the Xxxxxx Xxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Purchaser, the Seller shall cause to be delivered to such the Purchaser a certified true copy of such fidelity bond and 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 Purchaser.

Appears in 1 contract

Samples: Flow Interim Servicing Agreement (Lehman XS Trust Series 2007-15n)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. 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 Mortgage Loans ("Seller Employees")Loans. Any such Fidelity Bond and Errors and Omissions Insurance Policy These policies shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Seller against losseslosses resulting from dishonest or fraudulent acts committed by the Seller's personnel, including forgeryany employees of outside firms that provide data processing services for the Seller, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employeestemporary contract employees or student interns. Such The Fidelity Bond and Errors and Omissions Insurance Policy shall also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the 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 required by Xxxxxx Fannie Mae in the Xxxxxx Xxx Guides Fannie Mae Servicing Guide or by Xxxxxxx Freddie Mac in the Xxxxxxx Xxx XxxxxxxFrxxxxx Mac Servicerx' & Servicers' GuideXxxdx xr in an amount as may bx xxxxxtted to the Xxxxxx by express waiver of Fannie Mae or Freddie Mac. Upon the request of the Purchaser, the Seller shall xxxxx cause tx xx xxlivered to be delivered to such the Purchaser a certified true copy of such fidelity bond Fidelity Bond and insurance policy 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 Purchaser.

Appears in 1 contract

Samples: Assignment and Recognition Agreement (BCAP LLC Trust 2007-Aa1)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companiesmaintain, at its own expense, a blanket Fidelity Bond fidelity bond and an Errors errors and Omissions Insurance Policyomissions insurance policy, with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Bankera mortgage banker's Blanket Bond blanket bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The errors and omissions insurance shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac Guides. Upon The Servicer shall deliver to the request Purchaser a certificate from the surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. The Seller shall notify the Purchaser within five (5) business days of receipt of notice that such Fidelity Bond or insurance policy will be, or has been, materially modified or terminated. The Purchaser (or any party having the status of Purchaser hereunder) and any subsidiary thereof and their successors or assigns as their interests may appear must be named as loss payees on the Fidelity Bond and as additional insured on the errors and omissions policy. Upon request by the Purchaser, the Servicer shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Servicing Agreement (E Loan Inc)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The 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 officerswith responsible companies that would meet the requirements of Fannie Mae or Frexxxx Xax xn alx xxxxxers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Bankera mortgage banker's Blanket Bond blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The errors and omissions insurance shall protect and insure the Seller against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve 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 Xxxxxx Fannie Mae in the Xxxxxx Xxx thx Xxxnie Mae Guides or by Xxxxxxx xx xx Xxxddie Mac in thx Xxxxxie Mac Guidex. Xxx Seller shall deliver to the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon Purchaser a certificate from the request surety and the insurer as to the existence of the Purchaser, the Seller Fidelity Bond and errors and omissions insurance policy and shall cause to be delivered to such the Purchaser a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. Upon request by the Purchaser, the Seller shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (HSI Asset Loan Obligation Trust 2006-2)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller 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 Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae Xxx in the Xxxxxx Xxx Guides Mae Mortgage-Backed Securities - 43 - Selling and Servicing Guide or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond and insurance policy policy, or a certificate of insurance setting forth the related coverage, 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 Purchaser.

Appears in 1 contract

Samples: Warranties and Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2003 26a)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller 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 Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Fxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideFxxxxxx Mac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to such Purchaser a certified true copy certificate of insurance for such fidelity bond Fidelity Bond and insurance policy 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 Purchaser.. 50

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (LXS 2007-3)

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Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companiesmaintain, at its own expense, a Fidelity Bond, which is also known as a blanket Fidelity Bond fidelity bond under the Xxxxxx Mae Guides, and an Errors errors and Omissions Insurance omissions insurance policy (an "E&O Policy"), with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Bankera mortgage banker's Blanket Bond bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The E&O Policy shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond and Errors and Omissions Insurance E&O Policy shall also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond and Errors and Omissions Insurance or E&O Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy E&O Policy shall be at least equal to the corresponding amounts required by Xxxxxx Mae Xxx in the Xxxxxx Xxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac Guides. Upon The Servicer shall deliver to the request Purchaser a certificate from the surety and the insurer as to the existence of the Purchaser, the Seller Fidelity Bond and E&O Policy and shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond and insurance policy and obtain a statement from the surety and the insurer that such fidelity bond and insurance policy Fidelity Bond or E&O Policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. The Seller shall notify the Purchaser within five (5) business days of receipt of notice that such Fidelity Bond or E&O Policy will be, or has been, materially modified or terminated. The Purchaser (or any party having the status of Purchaser hereunder) and any subsidiary thereof and their successors or assigns as their interests may appear must be named as certificate holder, which is also known as loss payee under the Xxxxxx Xxx Guides, on the Fidelity Bond and as additional insured on the E&O Policy. Upon request by the Purchaser, the Servicer shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Warranties and Servicing Agreement (Gs Mortgage Securities Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, 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 persons acting in any capacity requiring such Persons persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Servicer Employees"). Any such Fidelity Bond and Errors errors and Omissions Insurance Policy omissions insurance policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors errors and Omissions Insurance Policy omissions insurance policy also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 3.13 requiring such Fidelity Bond and Errors errors and Omissions Insurance Policy omissions insurance policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide, or as otherwise acceptable to Xxxxxxx Mac. Upon the request of the PurchaserMaster Servicer, the Seller Servicer shall cause to be delivered to such Purchaser party a certified true copy certificate of insurance for such fidelity bond and 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 PurchaserMaster Servicer and the Trustee. The Servicer shall notify the Master Servicer and the Trustee within five business days of receipt of notice that such Fidelity Bond or insurance policy will be, or has been, materially modified or terminated. The Master Servicer and the Trustee shall be named as loss payees on the Fidelity Bond and as additional insured on the errors and omissions policy.

Appears in 1 contract

Samples: Securitization Servicing Agreement (TBW 2006-3)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller 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 Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx acceptable to Fannie Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideFreddie Mac. Upon the request of the Purchaser, the Seller Coxxxxx shall cause to caxxx xx be delivered to such the Purchaser a certified true copy certificate of insurance for such fidelity bond Fidelity Bond and insurance policy 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 in any manner which would cause a reduction of coverage without 30 days' prior written notice to the Purchaser.

Appears in 1 contract

Samples: Sale and Servicing Agreement (ABFC 2006-Opt3 Trust)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The 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 with responsible companies on all officers, employees or other Persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Bankera mortgage banker's Blanket Bond blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such Persons. The errors and omissions insurance shall protect and insure the Seller against losses arising out of errors and omissions and negligent acts of such Seller EmployeesPersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.11 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve 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 Xxxxxx Fannie Mae in the Xxxxxx Xxx Fannie Mae Guides or by Xxxxxxx Freddie Mac in the Xxxxxxx Freddix Xxx Xxxxxxx' & Servicers' GuideGuides. Upon The Xxxxxx xxxll deliver to xxx Xxxchaser a cerxxxxxxxe from the request surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. Upon request by the Purchaser, the Seller shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.11, and will -44- provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Assignment Agreement (Morgan Stanley Mortgage Loan Trust 2006-9ar)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The 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 with responsible companies on all officers, employees or other Persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Bankera mortgage banker's Blanket Bond blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such Persons. The errors and omissions insurance shall protect and insure the Seller against losses arising out of errors and omissions and negligent acts of such Seller EmployeesPersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.11 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve 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 Xxxxxx Fannie Mae in the Xxxxxx Xxx Fannie Mae Guides or by Xxxxxxx Freddie Mac in the Xxxxxxx Freddix Xxx Xxxxxxx' & Servicers' GuideGuides. Upon The Xxxxxx xxxll deliver to xxx Xxxchaser a cerxxxxxxxe from the request surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. Upon request by the Purchaser, the Seller shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.11, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Assignment Agreement (Morgan Stanley Mortgage Loan Trust 2006-8ar)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller 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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Fannie Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideFreddie Mac. Upon the request of the PurchaserOwner, the Seller shall cause to be Servxxxx xhall cauxx xx xe delivered to the Owner a certificate of insurance for such Purchaser a certified true copy of such fidelity bond Fidelity Bond and insurance policy 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 PurchaserOwner.

Appears in 1 contract

Samples: Servicing Agreement (Banc of America Funding 2006-5 Trust)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, 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 persons acting in any capacity requiring such Persons persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Servicer Employees"). Any such Fidelity Bond and Errors errors and Omissions Insurance Policy omissions insurance policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors errors and Omissions Insurance Policy omissions insurance policy also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 3.14 requiring such Fidelity Bond and Errors errors and Omissions Insurance Policy omissions insurance policy shall diminish or relieve the Seller 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 Xxxxxx Mae Frexxxx Xxc in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Frexxxx Xxx Xxxxxxx' & Servicers' Guide, or as otherwise acceptable to Frexxxx Xxc. Upon the request of the PurchaserMaster Servicer, the Seller Servicer shall cause to be delivered to such Purchaser party a certified true copy certificate of insurance for such fidelity bond and 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 PurchaserMaster Servicer and the Trustee. The Servicer shall notify the Master Servicer and the Trustee within five Business Days of receipt of notice that such Fidelity Bond or insurance policy will be, or has been, materially modified or terminated. The Master Servicer and the Trustee shall be named as loss payees on the Fidelity Bond and as additional insured on the errors and omissions policy.

Appears in 1 contract

Samples: Securitization Servicing Agreement (TBW Mortgage-Backed Trust Series 2006-4)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. 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 Mortgage Loans ("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 Seller against losses, including forgery, theft, embezzlementembezzle-ment, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve 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 Xxxxxx Mae Xxx in the Xxxxxx Xxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Purchaser, the Seller shall cause to be delivered to such the Purchaser a certified true copy of such fidelity bond and 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 Purchaser.

Appears in 1 contract

Samples: Flow Interim Servicing Agreement (Lehman XS Trust Series 2007-12n)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. 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 Mortgage Loans ("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 Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond and 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 Purchaser.

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates 2004-11xs)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companiesmaintain, at its own expense, a blanket Fidelity Bond fidelity bond and an Errors errors and Omissions Insurance Policyomissions insurance policy, with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loan to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loan. Any such The Servicer 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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The Servicer Errors and Omissions Insurance Policy shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond and Servicer Errors and Omissions Insurance Policy shall also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.02(l) requiring such the Servicer Fidelity Bond and or the Servicer Errors and Omissions Insurance Policy shall diminish or relieve the Seller Servicer from its 217412 HomeBanc 2007-1 Pooling and Servicing Agreement 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideGuides. Upon the request of the PurchaserMaster Servicer or the Trustee, the Seller Servicer shall cause deliver to be delivered the Master Servicer and the Trustee a certificate from the surety and the insurer as to such Purchaser a certified true copy the existence of such fidelity bond the Servicer Fidelity Bond and insurance policy the Servicer Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such fidelity bond Servicer Fidelity Bond or Servicer Errors and insurance policy Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days' thirty (30) days prior written notice to the PurchaserMaster Servicer. The Servicer shall notify the Master Servicer and the Trustee within five (5) business days of receipt of notice that such Servicer Fidelity Bond or Servicer Errors and Omissions Insurance Policy will be, or has been, materially modified or terminated. The Trustee on behalf of the Trust must be named as a loss payee on the Servicer Fidelity Bond and as an additional insured on the Servicer Errors and Omissions Insurance Policy. Upon request by the Master Servicer, the Servicer shall provide the Master Servicer with an insurance certificate certifying coverage under this Section 4.02(l), and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Homebanc Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller shall maintain continue to maintain, for Seller and its Affiliates (or such Affiliates shall cause to be maintained), with responsible companies, at its or their, as applicable, own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other Persons persons (“Seller Employees”) acting in any capacity requiring such Persons persons to handle funds, money, documents or papers relating to the Purchased Mortgage Loans ("Seller Employees")Loans, with respect to any claims made in connection with all or any portion of the Purchased Assets. Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the standard form of the Mortgage Banker's Blanket Bond mortgage banker’s blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Purchased Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideRequired Insurance Amount. Upon the request of the PurchaserBuyer, the Seller shall cause to be delivered to Buyer a certificate of insurance for such Purchaser a certified true copy of such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy shall Errors and Omissions Insurance Policy shall, to the extent commercially available, in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to Buyer. Seller shall ensure that Buyer is added as an additional loss payee under each of the PurchaserFidelity Bond and Errors and Omissions Insurance Policy.

Appears in 1 contract

Samples: Master Repurchase Agreement and Securities Contract (Sachem Capital Corp.)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller [The/Each] Servicer shall maintain with responsible companiesmaintain, at its own expense, a blanket Fidelity Bond fidelity bond and an Errors errors and Omissions Insurance Policyomissions insurance policy, with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loan to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loan. Any such The Servicer 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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The Servicer Errors and Omissions Insurance Policy shall protect and insure the Servicer[s] against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond and Servicer Errors and Omissions Insurance Policy shall also shall protect and insure the Seller Servicer[s] against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.02(l) requiring such the Servicer Fidelity Bond and or the Servicer Errors and Omissions Insurance Policy shall diminish or relieve the Seller [related] 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideGuides. Upon the request of the PurchaserMaster Servicer or the Trustee, the Seller Servicer[s] shall cause deliver to be delivered the Master Servicer and the Trustee a certificate from the surety and the insurer as to such Purchaser a certified true copy the existence of such fidelity bond the Servicer Fidelity Bond and insurance policy the Servicer Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such fidelity bond Servicer Fidelity Bond or Servicer Errors and insurance policy Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days' thirty (30) days prior written notice to the PurchaserMaster Servicer. The [related] Servicer shall notify the Master Servicer and the Trustee within five (5) business days of receipt of notice that such Servicer Fidelity Bond or Servicer Errors and Omissions Insurance Policy will be, or has been, materially modified or terminated. The Trustee on behalf of the Trust Fund must be named as a loss payee on the Servicer Fidelity Bond and as an additional insured on the Servicer Errors and Omissions Insurance Policy. Upon request by the Master Servicer, the Servicer[s] shall provide the Master Servicer with an insurance certificate certifying coverage under this Section 4.02(l), and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (TBALT Corp.)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 persons acting in any capacity requiring such Persons persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. .Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No xxxxxxx.Xx provision of this Section 5.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by and Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Mac.Upon the request of the PurchaserOwner, the Seller Servicer shall cause to be delivered to such Purchaser the Owner a certified true copy of such fidelity bond Fidelity Bond and insurance policy 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 days prior written notice to the PurchaserOwner.The Servicer shall notify the Owner within five Business Days of receipt of notice that such Fidelity Bond and Errors and Omissions Insurance Policy will be, or has been, materially modified or terminated.

Appears in 1 contract

Samples: Servicing Agreement (Deutsche Alt-a Securities Inc)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The 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 with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond a mortgage banker’s blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The errors and omissions insurance shall protect and insure the Seller against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve 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 Xxxxxx Mae Xxx in the Xxxxxx Xxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac Guides. Upon The Seller shall deliver to the request Purchaser a certificate from the surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. Upon request by the Purchaser, the Seller shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. 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, funds,.........................................................12 Section 2.13 money, documents or papers relating to the Mortgage Loans ("Seller 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 Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve 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 Xxxxxx Mae Xxx in the Xxxxxx Xxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Purchaser, the Seller shall cause to be delivered to such the Purchaser a certified true copy of such fidelity bond and 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 Purchaser.............................13

Appears in 1 contract

Samples: Flow Interim Servicing Agreement (Mortgage Pass-Through Certificates Series 2003-37a)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The 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 with responsible companies that would meet the requirements of Xxxxxx Mae and Xxxxxxx Mac on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker's Blanket Bond a mortgage banker’s blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The errors and omissions insurance shall protect and insure the Seller against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac Guides. Upon The Seller shall deliver to the request Purchaser a certificate from the surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. Upon request by the Purchaser, the Seller shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Warranties and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-6)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companiesmaintain, at its own expense, a Fidelity Bond, which is also known as a blanket Fidelity Bond fidelity bond under the Xxxxxx Xxx Guides, and an Errors errors and Omissions Insurance omissions insurance policy (an "E&O Policy"), with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Bankera mortgage banker's Blanket Bond bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The E&O Policy shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond and Errors and Omissions Insurance E&O Policy shall also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond and Errors and Omissions Insurance or E&O Policy shall diminish or relieve the Seller Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy E&O Policy shall be at least equal to the corresponding amounts required by Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac Guides. Upon The Servicer shall deliver to the request Purchaser a certificate from the surety and the insurer as to the existence of the Purchaser, the Seller Fidelity Bond and E&O Policy and shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond and insurance policy and obtain a statement from the surety and the insurer that such fidelity bond and insurance policy Fidelity Bond or E&O Policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. The Seller shall notify the Purchaser within five (5) business days of receipt of notice that such Fidelity Bond or E&O Policy will be, or has been, materially modified or terminated. The Purchaser (or any party having the status of Purchaser hereunder) and any subsidiary thereof and their successors or assigns as their interests may appear must be named as certificate holder, which is also known as loss payee under the Xxxxxx Mae Guides, on the Fidelity Bond and as additional insured on the E&O Policy. Upon request by the Purchaser, the Servicer shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (Gs Mortgage Securities Corp)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller “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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae FNMA in the Xxxxxx Xxx Guides FNMA Selling and Servicing Guide or by Xxxxxxx Mac FHLMC in the Xxxxxxx Xxx Xxxxxxx' FHLMC Sellers’ & Servicers' Guide. Upon the request of the PurchaserOwner, the Seller Servicer shall cause to be delivered to such Purchaser the Owner a certified true copy of such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and Errors and Omissions insurance policy Policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the PurchaserOwner.

Appears in 1 contract

Samples: Assumption and Recognition Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-26)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller shall continue to maintain or cause to be maintained for itself and its Affiliates (or such Affiliates shall cause to be maintained), with responsible companies, at its or their, as applicable, own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other Persons persons (“Seller Employees”) acting in any capacity requiring such Persons persons to handle funds, money, documents or papers relating to the Purchased Mortgage Loans ("Seller Employees")Loans, with respect to any claims made in connection with all or any portion of the Purchased Assets. Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the standard form of the Mortgage Banker's Blanket Bond mortgage banker’s blanket bond and shall protect and insure the Seller it against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller its Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Purchased Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 13(e) requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideRequired Insurance Amount. Upon the request of the PurchaserBxxxx, the Seller shall cause to be delivered to Buyer a certificate of insurance for such Purchaser a certified true copy of such fidelity bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy and a statement from the surety and the insurer that such fidelity bond Fidelity Bond and insurance policy shall Errors and Omissions Insurance Policy shall, to the extent commercially available, in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to Buyer. Seller shall ensure that Buyer is added as an additional insured under each of the Purchaser.Fidelity Bond and Errors and Omissions Insurance Policy. [Redacted to remove confidential information]

Appears in 1 contract

Samples: Master Repurchase Agreement and Securities Contract (Korth Direct Mortgage Inc.)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The 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 with responsible companies on all officers, employees or other Persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Bankera mortgage banker's Blanket Bond blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such Persons. The errors and omissions insurance shall protect and insure the Seller against losses arising out of errors and omissions and negligent acts of such Seller EmployeesPersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.11 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve 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 Xxxxxx Fannie Mae in the Xxxxxx Xxx Fannie Mae Guides or by Xxxxxxx Freddie Mac in the Xxxxxxx Freddxx Xxx Xxxxxxx' & Servicers' GuideGuides. Upon The Xxxxxr xxall deliver to xxx Xxrchaser a cexxxxxxxte from the request surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. Upon request by the Purchaser, the Seller shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.11, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Assignment Agreement (Morgan Stanley Mortgage Loan Trust 2006-13arx)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The 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 with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Bankera mortgage banker's Blanket Bond blanket bond and shall protect and insure the Seller against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The errors and omissions insurance shall protect and insure the Seller against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve 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 Xxxxxx Fannie Mae in the Xxxxxx Xxx Fannie Mae Guides or by Xxxxxxx Freddie Mac in the Xxxxxxx Frxxxxx Mac Guides. Xxx Xxxxxxx' & Servicers' Guide. Upon Xxlxxx shall deliver xx xxx Purchaser a xxxxxxicate from the request surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. Upon request by the Purchaser, the Seller shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-2)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller “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 Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides Fanxxx Xxe or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideFrexxxx Xxc. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to such Purchaser a certified true copy certificate of insurance for such fidelity bond Fidelity Bond and insurance policy 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 Purchaser.

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (Thornburg Mortgage Securities Trust 2006-1)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller 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 Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to such Purchaser a certified true copy certificate of insurance for such fidelity bond Fidelity Bond and insurance policy 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 Purchaser.. 50

Appears in 1 contract

Samples: Warranties and Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Wf2)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companiesmaintain, at its own expense, a blanket Fidelity Bond fidelity bond and an Errors errors and Omissions Insurance Policyomissions insurance policy, with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loan to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loan. Any such The Servicer 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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The Servicer Errors and Omissions Insurance Policy shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond and Servicer Errors and Omissions Insurance Policy shall also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.02(l) requiring such the Servicer Fidelity Bond and or the Servicer Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae Xxx in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideMae Guides. Upon the request of the PurchaserMaster Servicer or the Indenture Trustee, the Seller Servicer shall cause deliver to be delivered the Master Servicer and the Indenture Trustee a certificate from the surety and the insurer as to such Purchaser a certified true copy the existence of such fidelity bond the Servicer Fidelity Bond and insurance policy the Servicer Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such fidelity bond Servicer Fidelity Bond or Servicer Errors and insurance policy Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days' thirty (30) days prior written notice to the PurchaserMaster Servicer. The Servicer shall notify the Master Servicer and the Indenture Trustee within five (5) business days of receipt of notice that such Servicer Fidelity Bond or Servicer Errors and Omissions Insurance Policy will be, or has been, materially modified or terminated. The Issuer must be named as a loss payee on the Servicer Fidelity Bond and as an additional insured on the Servicer Errors and Omissions Insurance Policy. Upon request by the Master Servicer, the Servicer shall provide the Master Servicer with an insurance certificate certifying coverage under this Section 4.02(l), and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (HMB Acceptance Corp.)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companiesmaintain, at its own expense, a blanket Fidelity Bond fidelity bond and an Errors errors and Omissions Insurance Policyomissions insurance policy, with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loans to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loans. Any such The Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Bankera mortgage banker's Blanket Bond blanket bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The errors and omissions insurance shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond errors and Errors and Omissions Insurance Policy omissions insurance shall also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such the Fidelity Bond or errors and Errors and Omissions Insurance Policy omissions insurance shall diminish or relieve the Seller 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 Xxxxxx Fannie Mae in the Xxxxxx Xxx Fannie Mae Guides or by Xxxxxxx Freddie Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideFreddie Max Xxxxex. Upon The Servxxxx xhall deliver to thx Xxxxxaser a certixxxxxx from the request surety and the insurer as to the existence of the Purchaser, the Seller shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond Fidelity Bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond and Fidelity Bond or insurance policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to the Purchaser. The Seller shall notify the Purchaser within five (5) business days of receipt of notice that such Fidelity Bond or insurance policy will be, or has been, materially modified or terminated. The Purchaser (or any party having the status of Purchaser hereunder) and any subsidiary thereof and their successors or assigns as their interests may appear must be named as loss payees on the Fidelity Bond and as additional insured on the errors and omissions policy. Upon request by the Purchaser, the Servicer shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Custodial Agreement (SunTrust Alternative Loan Trust, Series 2005-1f)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 persons acting in any capacity requiring such Persons persons to handle funds, money, documents or papers relating to the related Mortgage Loans ("Seller “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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller 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 5.13 3.06 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideFNMA. Upon the request of the PurchaserIndenture Trustee or the Insurer, the Seller Servicer shall cause to be delivered to such Purchaser the Indenture Trustee or the Insurer a certified true copy certificate of such fidelity bond insurance of the insurer and insurance policy and the surety including 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 PurchaserIndenture Trustee.

Appears in 1 contract

Samples: Sale and Servicing Agreement (First Horizon Asset Securities Inc)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance PolicyPolicy acceptable to Fannie Mae or Freddie Mac, with xxxx broad coverage cxxxxxxx on all officers, employees or other Persons acting in any capacity requiring such Persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller 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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Fannie Mae or Freddie Mac. Xxxx the corresponding amounts required by Xxxxxx Mae in reqxxxx xx the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the PurchaserOwner, the Seller Servicer shall cause to be delivered to the Owner a certificate of insurance for such Purchaser a certified true copy of such fidelity bond Fidelity Bond and insurance policy 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 PurchaserOwner.

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (HSI Asset Loan Obligation Trust 2006-2)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller 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 Mortgage Loans ("Seller “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 Seller Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller Company against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides Mortgage-Backed Securities Selling and Servicing Guide or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide, or in an amount as may be permitted to the Company by express waiver of Xxxxxx Mae or Xxxxxxx Mac. Upon the request of the any Purchaser, the Seller Company shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond and 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 Purchaser.

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 03 4)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. 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 Mortgage Loans ("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 Seller against losses, including forgery, theft, embezzlementembezzle-ment, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve 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 Xxxxxx Mae Fxxxxx Mxx in the Xxxxxx Xxx Fxxxxx Mae Guides or by Xxxxxxx Fxxxxxx Mac in the Xxxxxxx Fxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Purchaser, the Seller shall cause to be delivered to such the Purchaser a certified true copy of such fidelity bond and 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 Purchaser.

Appears in 1 contract

Samples: Flow Interim Servicing Agreement (Greenpoint Mortgage Funding Trust 2007-Ar2)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companies, 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 persons acting in any capacity requiring such Persons persons to handle funds, money, documents or papers relating to the Mortgage Loans ("Seller “Servicer Employees"). Any such Fidelity Bond and Errors errors and Omissions Insurance Policy omissions insurance policy shall be in the form of the Mortgage Banker's ’s Blanket Bond and shall protect and insure the Seller Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Servicer Employees. Such Fidelity Bond and Errors errors and Omissions Insurance Policy omissions insurance policy also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 3.14 requiring such Fidelity Bond and Errors errors and Omissions Insurance Policy omissions insurance policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Fxxxxxx Mac in the Xxxxxxx Fxxxxxx Xxx Xxxxxxx' & Servicers' Guide, or as otherwise acceptable to Fxxxxxx Mac. Upon the request of the PurchaserMaster Servicer, the Seller Servicer shall cause to be delivered to such Purchaser party a certified true copy certificate of insurance for such fidelity bond and 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 PurchaserMaster Servicer and the Trustee. The Servicer shall notify the Master Servicer and the Trustee within five Business Days of receipt of notice that such Fidelity Bond or insurance policy will be, or has been, materially modified or terminated. The Master Servicer and the Trustee shall be named as loss payees on the Fidelity Bond and as additional insured on the errors and omissions policy.

Appears in 1 contract

Samples: Securitization Servicing Agreement (TBW Mortgage-Backed Trust Series 2007-2)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companiesmaintain, at its own expense, a blanket Fidelity Bond fidelity bond and an Errors errors and Omissions Insurance Policyomissions insurance policy, with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loan to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loan. Any such The Servicer 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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The Servicer Errors and Omissions Insurance Policy shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond and Servicer Errors and Omissions Insurance Policy shall also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.02(l) requiring such the Servicer Fidelity Bond and or the Servicer Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Fannie Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideFannie Mae Guides. Upon the request of the PurchaserMaster Servicer ox xxx Indenture Trxxxxx, xxx Servicer shall deliver to the Seller Master Servicer and the Indenture Trustee a certificate from the surety and the insurer as to the existence of the Servicer Fidelity Bond and the Servicer Errors and Omissions Insurance Policy and shall cause to be delivered to such Purchaser a certified true copy of such fidelity bond and insurance policy and obtain a statement from the surety and the insurer that such fidelity bond Servicer Fidelity Bond or Servicer Errors and insurance policy Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days' thirty (30) days prior written notice to the PurchaserMaster Servicer. The Servicer shall notify the Master Servicer and the Indenture Trustee within five (5) business days of receipt of notice that such Servicer Fidelity Bond or Servicer Errors and Omissions Insurance Policy will be, or has been, materially modified or terminated. The Issuer must be named as a loss payee on the Servicer Fidelity Bond and as an additional insured on the Servicer Errors and Omissions Insurance Policy. Upon request by the Master Servicer, the Servicer shall provide the Master Servicer with an insurance certificate certifying coverage under this Section 4.02(l), and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (HomeBanc Mortgage Trust 2005-4)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. 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 Mortgage Loans ("Seller 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 Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Seller against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve 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 Xxxxxx Fannie Mae in the Xxxxxx Xxx Fannie Mae Guides or by Xxxxxxx Freddie Mac in the Xxxxxxx Freddie Xxx XxxxxxxXxllers' & ServicersSerxxxxxx' GuideXxide. Upon the request xxxxxxx of the PurchaserPurcxxxxx, the Seller shall xxx Xxxxxx xhall cause to be delivered to such the Purchaser a certified true copy of such fidelity bond and 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 Purchaser.

Appears in 1 contract

Samples: Flow Interim Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-34a)

Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Seller Servicer shall maintain with responsible companiesmaintain, at its own expense, a blanket Fidelity Bond fidelity bond and an Errors errors and Omissions Insurance Policyomissions insurance policy, with broad coverage with responsible companies on all officers, employees or other Persons persons acting in any capacity requiring such Persons with regard to the Mortgage Loan to handle funds, money, documents or and papers relating to the Mortgage Loans ("Seller Employees")Loan. Any such The Servicer 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 Seller Servicer against losses, including forgery, theft, embezzlement, fraud, embezzlement and fraud of such persons. The Servicer Errors and Omissions Insurance Policy shall protect and insure the Servicer against losses arising out of errors and omissions and negligent acts of such Seller Employeespersons. Such Fidelity Bond and Servicer Errors and Omissions Insurance Policy shall also shall protect and insure the Seller 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 Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 5.13 4.02(l) requiring such the Servicer Fidelity Bond and or the Servicer Errors and Omissions Insurance Policy shall diminish or relieve the Seller 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 Xxxxxx Mae in the Xxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' GuideGuides. Upon the request of the PurchaserMaster Servicer or the Trustee, the Seller Servicer shall cause deliver to be delivered the Master Servicer and the Trustee a certificate from the surety and the insurer as to such Purchaser a certified true copy the existence of such fidelity bond the Servicer Fidelity Bond and insurance policy the Servicer Errors and Omissions Insurance Policy and shall obtain a statement from the surety and the insurer that such fidelity bond Servicer Fidelity Bond or Servicer Errors and insurance policy Omissions Insurance Policy shall in no event be terminated or materially modified without 30 days' thirty (30) days prior written notice to the PurchaserMaster Servicer. The Servicer shall notify the Master Servicer and the Trustee within five (5) business days of receipt of notice that such Servicer Fidelity Bond or Servicer Errors and Omissions Insurance Policy will be, or has been, materially modified or terminated. The Trustee on behalf of the Trust Fund must be named as a loss payee on the Servicer Fidelity Bond and as an additional insured on the Servicer Errors and Omissions Insurance Policy. Upon request by the Master Servicer, the Servicer shall provide the Master Servicer with an insurance certificate certifying coverage under this Section 4.02(l), and will provide an update to such certificate upon request, or upon renewal or material modification of coverage.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (HMB Acceptance Corp.)

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