Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standard, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the Servicer. Upon the request of the Master Servicer, the Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS Insurer.
Appears in 47 contracts
Samples: Securitization Servicing Agreement (Sasco 2007-Bnc1), Securitization Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Osi), Securitization Servicing Agreement (BNC Mortgage Loan Trust 2007-1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Each Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the Servicerrelated Servicer has obtained a waiver of such requirement. Upon the request of the Master ServicerTrust Administrator, the Trustee or the NIMS Insurer, the related Servicer shall cause to be delivered to such party the Trust 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 days’ prior written notice to the Trust Administrator. The Master Servicer, the Trustee and the NIMS InsurerServicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 47 contracts
Samples: Pooling and Servicing Agreement (CSMC Trust 2007-4), Pooling and Servicing Agreement (CSMC Mortgage Backed Trust Series 2007-1), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-7)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerXxxxxx 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 Master Servicer, the Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such 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 Master Servicer, the Trustee and the NIMS Insurer.
Appears in 39 contracts
Samples: Securitization Subservicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Bc3), Securitization Subservicing Agreement (BNC Mortgage Loan Trust 2006-1), Securitization Subservicing Agreement (Structured Asset Investment Loan Trust 2006-1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer Company shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer 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 3.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer 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 the Serviceracceptable to Xxxxxx Mae or Xxxxxxx Mac. Upon the request of the Master Servicerany Purchaser, the Trustee or the NIMS Insurer, the Servicer Company shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 26 contracts
Samples: Seller's Warranties and Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc1), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2002 Bc4), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Series 2004-3)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Special Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 Transferred Mortgage Loans (“Special Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Special Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Special Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Special Servicer against losses in connection with the release or satisfaction of a Transferred Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Special Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Xxxxxx Mae in the ServicerXxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Master ServicerServicer or the Trustee, the Trustee or the NIMS Insurer, the Special Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS Insurer.
Appears in 18 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp. 2005-16), Servicing Agreement (Lehman Mortgage Trust 2005-2), Servicing Agreement (Lehman Mortgage Trust 2008-2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 4.02(m) requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding coverage amounts required which are acceptable for the Servicer as determined by the ServicerXxxxxx Xxx and Xxxxxxx Mac. Upon the request of the Master Servicer, the Trustee Servicer or the NIMS InsurerIndenture Trustee, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee Servicer and the NIMS InsurerIndenture Trustee.
Appears in 14 contracts
Samples: Transfer and Servicing Agreement (NYMT Securities CORP), Transfer and Servicing Agreement (New York Mortgage Trust 2005-3), Transfer and Servicing Agreement (Fieldstone Mortgage Investment Trust, Series 2006-2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Each Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by acceptable to FNMA unless the Servicerrelated Servicer has obtained a waiver of such requirement. Upon the request of the Master ServicerTrust Administrator, the Trustee or the NIMS Insurer, the related Servicer shall cause to be delivered to such party the Trust 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 days’ prior written notice to the Trust Administrator. The Master Servicer, the Trustee and the NIMS InsurerServicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 11 contracts
Samples: Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-7), Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-6a), Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-4)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Each Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerFNMA. Upon the request of the Master ServicerTrust Administrator, the Trustee or the NIMS Insurer, the related Servicer shall cause to be delivered to such party the Trust 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 days’ prior written notice to the Trust Administrator. The Master Servicer, the Trustee and the NIMS InsurerServicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 10 contracts
Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Certs Series 2003-25), Pooling and Servicing Agreement (CSFB Mortgage Back Pass THR Cer Ser 2003-Ar2), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Certs Ser 2004-Ar1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer Company shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance PolicyPolicy that meets the requirements of Xxxxxx Xxx or Xxxxxxx Mac, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer 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 3.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by the ServicerXxxxxx Mae or Xxxxxxx Mac. Upon the request of the Master Servicerany Purchaser, the Trustee or the NIMS Insurer, the Servicer Company shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 6 contracts
Samples: Master Seller's Warranties and Servicing Agreement (Banc of America Funding 2006-2 Trust), Master Seller's Warranties and Servicing Agreement (Banc of America Funding 2006-3 Trust), Master Seller's Warranties and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-A3)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Each Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.16 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the Servicerrelated Servicer has obtained a waiver of such requirement. Upon the request of the Master ServicerTrust Administrator, the Trustee or the NIMS Insurer, the related Servicer shall cause to be delivered to such party the Trust 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 days’ ' prior written notice to the Trust Administrator. The Master Servicer, the Trustee and the NIMS InsurerServicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Adjustable Rate Mortgage Trust 2006-3), Pooling and Servicing Agreement (Adjustable Rate Mortgage Trust 2007-1), Pooling and Servicing Agreement (Adjustable Rate Mortgage Trust 2006-2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. (a) The Master Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all directors, officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Master Servicing Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Master Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Master Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Master Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 8.02 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Master Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerXxxxxx Xxx or Freddie Mac. Upon the request of the Master ServicerSecurities Administrator, the Trustee or the NIMS Insurer, the Master Servicer shall cause to be delivered to such party 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 days’ prior written notice to the Securities Administrator. The Master ServicerServicer shall (i) require each Servicer to maintain an Errors and Omissions Insurance Policy and a Fidelity Bond in accordance with the provisions of the applicable Servicing Agreement, (ii) cause each Servicer to provide to the Master Servicer certificates evidencing that such policy and bond is in effect and to furnish to the Master Servicer any notice of cancellation, non-renewal or modification of the policy or bond received by it, as and to the extent provided in the applicable Servicing Agreement, and (iii) furnish copies of the certificates and notices referred to in clause (ii) to the Securities Administrator upon its request.
(b) The Master Servicer shall promptly report to the Securities Administrator any material changes that may occur in the Master Servicer Fidelity Bond or the Master Servicer Errors and Omissions Insurance Policy and shall furnish to the Securities Administrator, on request, certificates evidencing that such bond and insurance policy are in full force and effect. The Master Servicer shall promptly report to the Securities Administrator, to the best of its knowledge, all cases of forgery, theft, embezzlement, fraud, errors or omissions, if such events involve funds relating to the Mortgage Loans. The total losses, regardless of whether claims are filed with the applicable insurer or surety, shall be disclosed in such reports together with the amount of such losses covered by insurance. If a bond or insurance claim report is filed with any of such bonding companies or insurers, the Trustee and Master Servicer shall promptly furnish a copy of such report to the NIMS InsurerSecurities Administrator. Any amounts relating to the Mortgage Loans collected by the Master Servicer under any such bond or policy shall be promptly remitted by the Master Servicer to the Securities Administrator for deposit into the Certificate Account. Any amounts relating to the Mortgage Loans collected by any Servicer under any such bond or policy shall be remitted to the Master Servicer to the extent provided in the applicable Servicing Agreement.
Appears in 6 contracts
Samples: Master Servicing and Trust Agreement (Gs Mortgage Securities Corp), Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2005-6f), Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2005-3f)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally responsible companies that are acceptable under the Servicing Standardto Xxxxxx Mae and Xxxxxxx Mac, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by the Serviceracceptable to Xxxxxx Mae or Xxxxxxx Mac. Upon the request of the Master Servicer, the Trustee or the NIMS Insurerany Owner, the Servicer shall cause to be delivered to such party Owner 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 Master Servicer, the Trustee and the NIMS InsurerOwner.
Appears in 6 contracts
Samples: Flow Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Ar6), Flow Servicing Agreement (Citigroup Mortgage Loan Trust Inc., Series 2006-Ar3), Flow Servicing Agreement (Citigroup Mortgage Loan Trust 2007-2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Each Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by acceptable to FNMA unless the Servicerrelated Servicer has obtained a waiver of such requirement. Upon the request of the Master ServicerTrust Administrator, the Trustee or the NIMS Insurer, the related Servicer shall cause to be delivered to such party the Trust 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 days’ ' prior written notice to the Trust Administrator. The Master Servicer, the Trustee and the NIMS InsurerServicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2004-4), Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-1), Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-10)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Each Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerFNMA. Upon the request of the Master ServicerTrustee, the Trustee or the NIMS Insurer, the related Servicer shall cause to be delivered to such party the Trustee 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 days’ ' prior written notice to the Master Servicer, the Trustee and the NIMS InsurerTrustee.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“"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 Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fannie Mae in the Servicer. Upon Fannie Mae Guides or by Freddie Mac in the request of the Master Servicer, the Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerFrxxxxx Mac Guides.
Appears in 5 contracts
Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-2), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-5ar)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Special Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 Transferred Mortgage Loans (“Special Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Special Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Special Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Special Servicer against losses in connection with the release or satisfaction of a Transferred Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Special Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the ServicerFxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Master ServicerServicer or the Trustee, the Trustee or the NIMS Insurer, the Special Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS Insurer.
Appears in 5 contracts
Samples: Servicing Agreement (Lehman Mortgage Trust 2006-8), Servicing Agreement (Lehman Mortgage Trust 2006-7), Servicing Agreement (Lehman Mortgage Trust 2007-2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 4.02(m) requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding coverage amounts required which are acceptable for the Servicer as determined by the ServicerXxxxxx Xxx and Freddie Mac. Upon the request of the Master Servicer, the Trustee Servicer or the NIMS InsurerIndenture Trustee, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee Servicer and the NIMS InsurerIndenture Trustee.
Appears in 5 contracts
Samples: Transfer and Servicing Agreement (Aames Mortgage Investment Trust 2006-1), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer Company shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance PolicyPolicy that meets the requirements of Xxxxxx Mae or Xxxxxxx Mac, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“Servicer Company Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer Company against losses, including forgery, theft, embezzlementembezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer 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 3.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by the ServicerXxxxxx Mae, Xxxxxxx Mac or GNMA, as applicable. Upon the request of the Master Servicerany Purchaser, the Trustee or the NIMS Insurer, the Servicer Company shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 5 contracts
Samples: Master Seller’s Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), Master Seller’s Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax), Master Seller’s Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all of its officers, employees or other persons acting in any capacity on behalf of the Servicer requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (the “Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by the Serviceracceptable in accordance with Applicable Requirements. Upon the request of the Master Servicer, the Trustee or the NIMS InsurerIn any event, the Servicer shall cause to be delivered to maintain such party a certified true copy insurance as is required under Section 7.20 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 Master Servicer, the Trustee and the NIMS InsurerLoan Agreement.
Appears in 5 contracts
Samples: Loan Servicing Agreement (Franklin Credit Management Corp), Loan Servicing Agreement (Franklin Credit Management Corp), Loan Servicing Agreement (Franklin Credit Holding Corp/De/)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“"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 Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fannie Mae in the Servicer. Upon Fannie Mae Guides or by Freddie Mac in the request of the Master Servicer, the Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerFredxxx Xxc Guides.
Appears in 4 contracts
Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-16ax), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-7), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-8ar)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“"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 Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fannie Mae in the Servicer. Upon Fannie Mae Guides or by Freddie Mac in the request of the Master Servicer, the Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerFrexxxx Xac Guides.
Appears in 3 contracts
Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-2ax), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-11), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-1xs)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Interim Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“Interim Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Interim Servicer against losses, including forgery, theft, embezzlementembezzle-ment, fraud, errors and omissions and negligent acts of such Interim Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the 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 3.13 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Interim Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the ServicerFxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Mac Interim Servicers’ & Servicers’ Guide. Upon the request of the Master ServicerPurchaser, the Trustee or the NIMS Insurer, the Interim Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 3 contracts
Samples: Interim Servicing Agreement (Lehman XS Trust Series 2006-Gp2), Interim Servicing Agreement (Lehman XS Trust Series 2006-4n), Interim Servicing Agreement (Lehman XS Trust Series 2006-Gp1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Each Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.16 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the Servicerrelated Servicer has obtained a waiver of such requirement. Upon the request of the Master ServicerTrust Administrator, the Trustee or the NIMS Insurer, the related Servicer shall cause to be delivered to such party the Trust 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 days’ prior written notice to the Trust Administrator. The Master Servicer, the Trustee and the NIMS InsurerServicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (CSMC Asset-Backed Trust 2007-Nc1), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-6), Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-6)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. (a) The Master Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all directors, officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Master Servicing Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Master Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Master Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Master Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 8.02 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Master Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerXxxxxx Xxx or Xxxxxxx Mac. Upon the request of the Master ServicerSecurities Administrator, the Trustee or the NIMS Insurer, the Master Servicer shall cause to be delivered to such party 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 days’ prior written notice to the Securities Administrator. The Master ServicerServicer shall (i) require each Servicer to maintain an Errors and Omissions Insurance Policy and a Fidelity Bond in accordance with the provisions of the applicable Servicing Agreement, (ii) cause each Servicer to provide to the Master Servicer certificates evidencing that such policy and bond is in effect and to furnish to the Master Servicer any notice of cancellation, non-renewal or modification of the policy or bond received by it, as and to the extent provided in the applicable Servicing Agreement, and (iii) furnish copies of the certificates and notices referred to in clause (ii) to the Securities Administrator upon its request.
(b) The Master Servicer shall promptly report to the Securities Administrator any material changes that may occur in the Master Servicer Fidelity Bond or the Master Servicer Errors and Omissions Insurance Policy and shall furnish to the Securities Administrator, on request, certificates evidencing that such bond and insurance policy are in full force and effect. The Master Servicer shall promptly report to the Securities Administrator, to the best of its knowledge, all cases of forgery, theft, embezzlement, fraud, errors or omissions, if such events involve funds relating to the Mortgage Loans. The total losses, regardless of whether claims are filed with the applicable insurer or surety, shall be disclosed in such reports together with the amount of such losses covered by insurance. If a bond or insurance claim report is filed with any of such bonding companies or insurers, the Trustee and Master Servicer shall promptly furnish a copy of such report to the NIMS InsurerSecurities Administrator. Any amounts relating to the Mortgage Loans collected by the Master Servicer under any such bond or policy shall be promptly remitted by the Master Servicer to the Securities Administrator for deposit into the Certificate Account. Any amounts relating to the Mortgage Loans collected by any Servicer under any such bond or policy shall be remitted to the Master Servicer to the extent provided in the applicable Servicing Agreement.
Appears in 3 contracts
Samples: Master Servicing and Trust Agreement (Gs Mortgage Sec Corp Mortgage Pass THR Certs Ser 2004-2f), Master Servicing and Trust Agreement (Gs Mortgage Sec Corp Mort Pass THR Certs Ser 2004-3f), Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2004-6f)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer Subservicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“Servicer Subservicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer Subservicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Subservicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer Subservicer 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 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer Subservicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mxx in the ServicerFxxxxx Mae Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx’ & Subservicers’ Guide. Upon the request of the Servicer, the Master Servicer, the Trustee or the NIMS Insurer, the Servicer Subservicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS Insurerpolicy.
Appears in 3 contracts
Samples: Securitization Subservicing Agreement (Lehman XS Trust Series 2006-4n), Securitization Subservicing Agreement (Lehman XS Trust Series 2006-Gp1), Securitization Subservicing Agreement (Lehman XS Trust Series 2006-Gp2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Special Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 Transferred Mortgage Loans (“Special Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Special Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Special Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Special Servicer against losses in connection with the release or satisfaction of a Transferred Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Special Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mxx in the ServicerFxxxxx Mae Guides or by Fxxxxxx Mac in the Fxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Master ServicerServicer or the Trustee, the Trustee or the NIMS Insurer, the Special Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS Insurer.
Appears in 2 contracts
Samples: Servicing Agreement (Lehman Mortgage Trust 2007-10), Servicing Agreement (Lehman Mortgage Trust 2007-5)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under responsible companies that would meet the Servicing Standardrequirements of Fxxxxx Mae, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the failure to maintain any insurance policies required pursuant to this agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any Any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal comply with the applicable requirements from time to the corresponding amounts required by the Servicertime of Fxxxxx Mxx. Upon the request of the Master Servicer, the Trustee or the NIMS Insurerrequest, the Servicer shall cause to be delivered to such party 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 thirty (30) days’ prior written notice to the Master Servicer, the Trustee and the NIMS InsurerOwner.
Appears in 2 contracts
Samples: Servicing Agreement (PennyMac Mortgage Investment Trust), Flow Servicing Agreement (PennyMac Financial Services, Inc.)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Interim Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“"Interim 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 Interim Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Interim Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the 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 3.13 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Interim Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Xxxxxx Xxx in the ServicerXxxxxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Mac Interim Servicers' & Servicers' Guide. Upon the request of the Master ServicerPurchaser, the Trustee or the NIMS Insurer, the Interim Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 2 contracts
Samples: Interim Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Cer Ser 2002-8a), Interim Servicing Agreement (Structured Asset Securities Corp Mort Pas-THR Cert Ser 2002-)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all of its officers, employees or other persons acting in any capacity on behalf of the Servicer requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (the “Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by the Serviceracceptable in accordance with Applicable Requirements. Upon the request of the Master Servicer, the Trustee or the NIMS InsurerOwner, the Servicer shall cause to be delivered to the Owner a certificate of insurance for such party 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 Master Servicer, the Trustee and the NIMS InsurerOwner.
Appears in 2 contracts
Samples: Loan Servicing Agreement (Franklin Credit Management Corp), Loan Servicing Agreement (Franklin Credit Management Corp/De/)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“"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 Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fannie Mae in the Servicer. Upon Fannie Mae Guides or by Freddie Mac in the request of the Master Servicer, the Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerFreddxx Xxx Guides.
Appears in 2 contracts
Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-12xs), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-15xs)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Each Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Financial Institution Bond Form 22 - Fidelity Bond American International Specialty Lines Insurance Policy Form ("5713 5/93") Mortgage Banker’s Blanket Bond Banker Broker E&O and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerFNMA. Upon the request of the Master ServicerTrustee, the Trustee or the NIMS Insurer, the related Servicer shall cause to be delivered to such party the Trustee 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 days’ ' prior written notice to the Master Servicer, the Trustee and the NIMS InsurerTrustee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (CSFB Mortgage Pass Through Certificates Series 2001-S23)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.16 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the ServicerServicer has obtained a waiver of such requirement. Upon the request of the Master Servicer, the Trustee or the NIMS InsurerTrustee, the Servicer shall cause to be delivered to such party the Trustee 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 days’ prior written notice to the Master Servicer, the Trustee and the NIMS InsurerTrustee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (CSMC Asset-Backed Trust 2007-Nc1), Pooling and Servicing Agreement (CSMC Asset-Backed Trust 2007-Nc1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer NYMT Servicing shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 NYMC Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer NYMT Servicing against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer NYMT Servicing 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 3.13 4.02(m) requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer NYMT Servicing from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding coverage amounts required which are acceptable for NYMT Servicing as determined by the ServicerXxxxxx Xxx and Xxxxxxx Mac. Upon the request of the Master Servicer, the Trustee Servicer or the NIMS InsurerTrustee, the Servicer NYMT Servicing shall cause to be delivered to such party 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 Master Servicer, the Trustee Servicer and the NIMS InsurerTrustee.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (NYMT Securities CORP)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally companies reasonably acceptable under to the Servicing StandardAdministrator, 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 and REO Properties (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal in an amount reasonably acceptable to the corresponding amounts required by the ServicerAdministrator. Upon the request of the Master Servicer, the Trustee Owner or the NIMS InsurerAdministrator, the Servicer shall cause to be delivered to such party the Owner and the Administrator 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 Master Servicer, . The Servicer shall provide a copy of any such notice to the Trustee and the NIMS InsurerAdministrator within five (5) Business Days of receipt.
Appears in 1 contract
Samples: Servicing Agreement (Franklin Credit Holding Corp/De/)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardmaintain, 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 (“"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 Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts that the Servicer is required by to carry pursuant to the Servicer-s agreement with FNMA or FHLMC. Upon the request of the Master Servicer, the Trustee or the NIMS InsurerPurchaser, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 1 contract
Samples: Mortgage Loan Sale and Servicing Agreement (Structured Asset Securities Corporation)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 Eligible Mortgage Loans (“Servicer Company Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a an Eligible Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerGuidelines. Upon the request of the Master Servicer, the Trustee or the NIMS InsurerAgent, the Servicer shall cause to be delivered to such party the Agent 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 Master Servicer, the Trustee and the NIMS Insurerpolicy.
Appears in 1 contract
Samples: Servicing Agreement (PHH Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Special Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 Transferred Mortgage Loans (“Special Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Special Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Special Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Special Servicer against losses in connection with the release or satisfaction of a Transferred Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Special Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Xxxxxx Mae in the ServicerXxxxxx Xxx Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Master ServicerServicer or the Trustee, the Trustee or the NIMS Insurer, the Special Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee Servicer and the NIMS InsurerTrustee.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Securities Corp Trust 2005-6)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. (a) The Master Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all directors, officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Master Servicing Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Master Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Master Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Master Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 8.02 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Master Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerXxxxxx Xxx or Freddie Mac. Upon the request of the Master ServicerSecurities Administrator, the Trustee or the NIMS Insurer, the Master Servicer shall cause to be delivered to such party 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 days’ prior written notice to the Securities Administrator. The Master ServicerServicer shall (i) require each Servicer to maintain an Errors and Omissions Insurance Policy and a Fidelity Bond in accordance with the provisions of the applicable Servicing Agreement, (ii) cause each Servicer to provide to the Master Servicer certificates evidencing that such policy and bond is in effect and to furnish to the Master Servicer any notice of cancellation, non-renewal or modification of the policy or bond received by it, as and to the extent provided in the applicable Servicing Agreement, and (iii) furnish copies of the certificates and notices referred to in clause (ii) to the Securities Administrator upon its request.
(b) The Master Servicer shall promptly report to the Securities Administrator any material changes that may occur in the Master Servicer Fidelity Bond or the Master Servicer Errors and Omissions Insurance Policy and shall furnish to the Securities Administrator, on request, certificates evidencing that such bond and insurance policy are in full force and effect. The Master Servicer shall promptly report to the Securities Administrator all cases of forgery, theft, embezzlement, fraud, errors or omissions, if such events involve funds relating to the Mortgage Loans. The total losses, regardless of whether claims are filed with the applicable insurer or surety, shall be disclosed in such reports together with the amount of such losses covered by insurance. If a bond or insurance claim report is filed with any of such bonding companies or insurers, the Trustee and Master Servicer shall promptly furnish a copy of such report to the NIMS InsurerSecurities Administrator. Any amounts relating to the Mortgage Loans collected by the Master Servicer under any such bond or policy shall be promptly remitted by the Master Servicer to the Securities Administrator for deposit into the Certificate Account. Any amounts relating to the Mortgage Loans collected by any Servicer under any such bond or policy shall be remitted to the Master Servicer to the extent provided in the applicable Servicing Agreement.
Appears in 1 contract
Samples: Master Servicing and Trust Agreement (GS Mortgage GSR Loan Trust 2004-9)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer Company shall maintain with a carrier generally acceptable under responsible companies that meet the Servicing Standardrequirements of Xxxxxx Mae or Xxxxxxx Mac, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons Persons acting in any capacity requiring such persons Persons to handle funds, money, documents or papers relating to the Mortgage Loans (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer 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 3.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer 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 the Serviceracceptable to Xxxxxx Mae or Xxxxxxx Mac. Upon the request of the Master Servicerany Purchaser, the Trustee or the NIMS Insurer, the Servicer Company shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 1 contract
Samples: Seller's Warranties and Servicing Agreement (RBSGC 2007-A)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standard, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the Servicer. Upon the request of the Master Servicer, the Trustee Servicer or the NIMS InsurerTrustee, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee Servicer and the NIMS InsurerTrustee.
Appears in 1 contract
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 employees including full-time and part-time employees acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“Servicer 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 Servicer against losseslosses resulting from dishonest or fraudulent acts committed by the Servicer's directors, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employeesofficers or employees. Such The Fidelity Bond and Errors and Omissions Insurance Policy shall also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 2.14 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy shall be at least equal to the corresponding amounts required by Fannie Mae in the ServicerFannie Mae Servicing Guide or by Freddie Mac in the Fxxxxxx Mac Servicexx' Xxixx or in an amount as may xx xxxxitted to the Xxxxxxer by express waiver of Fannie Mae or Freddie Mac. Upon the request of the Master ServicerPurchaser, the Trustee or the NIMS Insurer, the Servicer shall cause to be Servixxx xxall causx xx xx delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Sabr Trust 2005-Fr2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Each Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the Servicerrelated Servicer has obtained a waiver of such requirement. Upon the request of the Master ServicerTrust Administrator, the Trustee or the NIMS Insurer, the related Servicer shall cause to be delivered to such party the Trust 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 days’ ' prior written notice to the Trust Administrator. The Master Servicer, the Trustee and the NIMS InsurerServicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-11)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer Company shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance PolicyPolicy that meets the requirements of Fannie Mae or Frexxxx Xax, with broad xxxxx coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“Servicer Employees”"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 Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer 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 3.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by the ServicerFannie Mae or Frexxxx Xac. Upon the request xxx xxquest of the Master Servicerany Purchaser, the Trustee or the NIMS Insurer, the Servicer Company shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Salomon Brots Mort Sec Vii Inc Citigroup Mort Ln Tr 03 Hyb1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Each Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the Serviceracceptable to FNMA. Upon the request of the Master ServicerTrust Administrator, the Trustee or the NIMS Insurer, the related Servicer shall cause to be delivered to such party the Trust 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 days’ prior written notice to the Trust Administrator. Each Master Servicer, the Trustee and the NIMS InsurerServicer shall maintain insurance in such amounts generally acceptable for entities serving as master servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (CSFB Mort Sec Corp Mort Backed Pass THR Certs Ser 2003 Ar5)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond Bond”) and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.06 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerFxxxxx Mxx. Upon the request of the Master Servicer, the Indenture Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such party 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 and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Master Servicer, the Trustee and the NIMS Insurersurety.
Appears in 1 contract
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under responsible companies that would meet the Servicing Standardrequirements of Fxxxxx Mxx, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the failure to maintain any insurance policies required pursuant to this agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any Any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal comply with the applicable requirements from time to the corresponding amounts required by the Servicertime of Fxxxxx Mae. Upon the request of the Master Servicer, the Trustee or the NIMS Insurerrequest, the Servicer shall cause to be delivered to such party 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 thirty (30) days’ prior written notice to the Master Servicer, the Trustee and the NIMS InsurerOwner.
Appears in 1 contract
Samples: Flow Servicing Agreement (PennyMac Mortgage Investment Trust)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Financial Institution Bond Form 22 - Fidelity Bond American International Specialty Lines Insurance Policy Form ("5713 5/93") Mortgage Banker’s Blanket Bond Banker Broker E&O and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerFNMA. Upon the request of the Master ServicerTrustee, the Trustee or the NIMS Insurer, the related Servicer shall cause to be delivered to such party the Trustee 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 days’ ' prior written notice to the Master Servicer, the Trustee and the NIMS InsurerTrustee.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The REIT Servicer shall maintain with a carrier generally acceptable under the Servicing Standardmaintain, 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 (“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 REIT Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the REIT 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 3.13 4.11 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the REIT 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 the Servicer. Upon the request of the Master Servicer, the Trustee or the NIMS Insurer, the REIT Servicer shall cause to be delivered to such party deliver 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 Master Servicer, the Trustee REIT Sub-Trust and the NIMS InsurerUBS upon request.
Appears in 1 contract
Samples: Reit Servicing Agreement (MortgageIT Holdings, Inc.)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standard, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the Servicer. Upon the request of the Master Servicer, the Trustee Servicer or the NIMS InsurerIndenture Trustee, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee Servicer and the NIMS InsurerIndenture Trustee.
Appears in 1 contract
Samples: Securitization Servicing Agreement (SASCO Mortgage Loan Trust 2004-Gel3)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Interim Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“"Interim 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 Interim Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Interim Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the 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 3.13 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Interim Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fannie Mae in the ServicerFannie Xxx Xxixxx or by Fxxxxxx Mac in the Freddix Xxx Xnterim Servixxxx' & Servicers' Guide. Upon the request of the Master ServicerPurchaser, the Trustee or the NIMS Insurer, the Interim Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 1 contract
Samples: Interim Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Cer Se 2002-1a)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of have coverage at least as broad as the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlementembezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the Servicer$100,000,000. Upon the request of the Master Servicer, the Trustee or the NIMS InsurerPurchaser, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002 Hf1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Special Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 Transferred Mortgage Loans (“Special Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Special Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Special Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Special Servicer against losses in connection with the release or satisfaction of a Transferred Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Special Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fannie Mxx xx txx Fannie Mxx Xxxdes or by Freddie Xxx xx the ServicerFreddie Xxx Xxxxxxx’ & Xxxxicers’ Guide. Upon the request of the Master ServicerServicer or the Trustee, the Trustee or the NIMS Insurer, the Special Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS Insurer.
Appears in 1 contract
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“"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 Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 4.02(m) requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding coverage amounts required which are acceptable for the Servicer as determined by the ServicerXxxxxx Xxx and Freddie Mac. Upon the request of the Master Servicer, the Trustee Servicer or the NIMS InsurerIndenture Trustee, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee Servicer and the NIMS InsurerIndenture Trustee.
Appears in 1 contract
Samples: Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Interim Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“"Interim 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 Interim Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Interim Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the 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 3.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Interim Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fannie Mae in the ServicerFannie Mae Guides or by Freddie Mac in the Freddie Mac Xxxxxxs' & Servicexx' Xxixx. Upon the request of requxxx xx the Master ServicerPurchasex, the Trustee or the NIMS Insurer, the Servicer xxx Xxxxxxx Xxxxicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 1 contract
Samples: Master Interim Servicing Agreement (Structured Asset Sec Corp Mor Pass Thru Cer Ser 2002-10h)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer Seller shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“Servicer "Seller Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer 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 3.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer Seller from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FNMA in the ServicerFNMA Mortgage-Backed Securities Selling and Servicing Guide or by FHLMC in the FHLMC Guide. Upon the request of the Master ServicerPurchaser, the Trustee or the NIMS Insurer, the Servicer Seller shall cause to be delivered to such party 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 Master ServicerPurchaser. In the event that the surety or insurer charges the Seller a fee for providing such evidence, the Trustee and Purchaser shall reimburse the NIMS InsurerSeller 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 Servicer Company shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer 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 3.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer 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 acceptable to the ServicerAgencies. Upon the request of the Master Servicerany Purchaser, the Trustee or the NIMS Insurer, the Servicer Company shall cause to be delivered to such party Purchaser 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 1 contract
Samples: Assignment and Assumption Agreement (Bear Stearns Asset Backed Securities Trust 2003-Sd1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“"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 Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fannie Mae in the Servicer. Upon Fannie Mae Guides or by Freddie Mac in the request of the Master Servicer, the Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerFxxxxxx Mac Guides.
Appears in 1 contract
Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-17xs)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 Eligible Loans (“Servicer Employees”"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 Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage an Eligible Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 SECTION 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerGuidelines. Upon the request of the Master Servicer, the Trustee or the NIMS InsurerPurchaser, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS Insurerpolicy.
Appears in 1 contract
Samples: Mortgage Loan Purchase and Servicing Agreement (PHH Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally responsible companies that are acceptable under the Servicing Standardto Fannie Mae and Freddie Mac, at its own expense, a blanket Fidelity Bond and Boxx xxx an Errors and Omissions Errorx xxx Xmissions 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 (“"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 Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by the Serviceracceptable to Fannie Mae or Freddie Mac. Upon the request of the Master Servicerany Owner, the Trustee or the NIMS Insurer, the Servicer shall Servicex xxxxl cause to be delivered xx xx xelivered to such party Owner 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 Master Servicer, the Trustee and the NIMS InsurerOwner.
Appears in 1 contract
Samples: Servicing Agreement (Thornburg Mortgage Securities Trust 2006-5)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Interim Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“Interim Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Interim Servicer against losses, including forgery, theft, embezzlementembezzle-ment, fraud, errors and omissions and negligent acts of such Interim Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the 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 3.13 2.11 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Interim Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Xxxxxx Xxx in the ServicerXxxxxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Master ServicerPurchaser, the Trustee or the NIMS Insurer, the Interim Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 1 contract
Samples: Interim Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Oh1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The TRS Servicer shall maintain with a carrier generally acceptable under the Servicing Standardmaintain, 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 (“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 TRS Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the TRS 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 3.13 4.11 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the TRS 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 the Servicer. Upon the request of the Master Servicer, the Trustee or the NIMS Insurer, the TRS Servicer shall cause to be delivered to such party deliver 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 Master Servicer, the Trustee TRS Sub-Trust and the NIMS InsurerUBS upon request.
Appears in 1 contract
Samples: TRS Servicing Agreement (MortgageIT Holdings, Inc.)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Each Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Financial Institution Bond Form 24 - Fidelity Bond American International Specialty Lines Insurance Policy Form ("43350 12/90") Mortgage Banker’s Blanket Bond Banker Broker E&O and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerFNMA. Upon the request of the Master ServicerTrustee, the Trustee or the NIMS Insurer, the related Servicer shall cause to be delivered to such party the Trustee 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 days’ ' prior written notice to the Master Servicer, the Trustee and the NIMS InsurerTrustee.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 4.02(m) requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding coverage amounts required which are acceptable for the Servicer as determined by the ServicerXxxxxx Xxx and Xxxxxxx Mac. Upon the request of the Master Servicer, the Trustee or the NIMS InsurerIndenture Trustee, the Servicer shall cause to be delivered to such party a certified true copy of such fidelity bond and insurance policy and a statement from the surety and the insurer that the surety and insurer shall endeavor to notify the Indenture Trustee within 30 days prior to such fidelity bond bond’s and errors and omissions insurance policy shall in no event be terminated policy’s termination or materially modified without 30 days’ prior written notice to the Master Servicer, the Trustee and the NIMS Insurermaterial modification.
Appears in 1 contract
Samples: Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer Company shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance PolicyPolicy that meets the requirements of Xxxxxx Xxx or Xxxxxxx Mac, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“Servicer Company Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer Company against losses, including forgery, theft, embezzlementembezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer 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 3.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by the ServicerXxxxxx Mae or Xxxxxxx Mac. Upon the request of the Master Servicerany Purchaser, the Trustee or the NIMS Insurer, the Servicer Company shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 1 contract
Samples: Master Seller’s Warranties and Servicing Agreement (MASTR Asset Securitization Trust 2007-1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer Subservicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“Servicer Subservicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer Subservicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Subservicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer Subservicer 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 3.13 2.30 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer Subservicer 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 the Serviceracceptable to FNMA or FHLMC. Upon the request of the Master Servicer, the Trustee or the NIMS Insurer, the Servicer Subservicer shall cause to be delivered to the Servicer a certificate of insurance for such party 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 Master Servicer, the Trustee and the NIMS Insurer.
Appears in 1 contract
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Special Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 Transferred Mortgage Loans (“Special Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Special Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Special Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Special Servicer against losses in connection with the release or satisfaction of a Transferred Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Special Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Xxxxxx Xxx in the ServicerXxxxxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Master ServicerServicer or the Trustee, the Trustee or the NIMS Insurer, the Special Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS Insurer.
Appears in 1 contract
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain maintain, directly or indirectly through an Affiliate, with a carrier generally acceptable under the Servicing Standardresponsible 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 (“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 the Fidelity Bond and Errors and Omissions Insurance Policy shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 4.03 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by the Serviceracceptable to Xxxxxx Mae or Xxxxxxx Mac. Upon the request of the Master Servicer, the Trustee or the NIMS InsurerPurchaser, the Servicer shall cause to be delivered to the Purchaser a certificate of insurance for such party a certified true copy of such fidelity bond Fidelity Bond and insurance policy Errors 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 Master Servicer, the Trustee and the NIMS InsurerOmissions Insurance Policy.
Appears in 1 contract
Samples: Master Bulk Sale and Servicing Agreement (Banc of America Funding Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Interim Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“"Interim 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 Interim Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Interim Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the 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 3.13 2.11 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Interim Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fannie Mae in the ServicerFannie Mae Guides or by Freddie Mac in the Freddxx Xxx Xxxlers' & Xxxxxxers' Guide. Upon the request txx xxxxest of the Master ServicerPxxxxxxxx, the Trustee or the NIMS Insurer, the xxx Xxxxxim Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 1 contract
Samples: Trust Agreement (New Century Alternative Mortgage Loan Trust 2006-Alt2)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Interim Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance PolicyPolicy that meets the requirements of Fannie Mae or Freddie Mac, with broad coverage on all officers, employees xxxxxyees or other persons xxxxx xersons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“"Interim Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Interim Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Interim Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the 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 3.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Interim Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by the ServicerFannie Mae, Freddie Mac or GNMA, as applicable. Upon the request of the Master Servicerrequesx xx xhe Purxxxxxx, the Trustee or the NIMS Insurer, the Interim Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 1 contract
Samples: Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. (a) The Master Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all directors, officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Master Servicing Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Master Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Master Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Master Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 8.02 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Master Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerXxxxxx Xxx or Xxxxxxx Mac. Upon the request of the Master ServicerSecurities Administrator, the Trustee or the NIMS Insurer, the Master Servicer shall cause to be delivered to such party 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 days’ prior written notice to the Securities Administrator. The Master ServicerServicer shall (i) require each Servicer to maintain an Errors and Omissions Insurance Policy and a Fidelity Bond in accordance with the provisions of the applicable Servicing Agreement, (ii) cause each Servicer to provide to the Master Servicer certificates evidencing that such policy and bond is in effect and to furnish to the Master Servicer any notice of cancellation, non-renewal or modification of the policy or bond received by it, as and to the extent provided in the applicable Servicing Agreement, and (iii) furnish copies of the certificates and notices referred to in clause (ii) to the Securities Administrator upon its request.
(b) The Master Servicer shall promptly report to the Securities Administrator any material changes that may occur in the Master Servicer Fidelity Bond or the Master Servicer Errors and Omissions Insurance Policy and shall furnish to the Securities Administrator, on request, certificates evidencing that such bond and insurance policy are in full force and effect. The Master Servicer shall promptly report to the Securities Administrator all cases of forgery, theft, embezzlement, fraud, errors or omissions, if such events involve funds relating to the Mortgage Loans. The total losses, regardless of whether claims are filed with the applicable insurer or surety, shall be disclosed in such reports together with the amount of such losses covered by insurance. If a bond or insurance claim report is filed with any of such bonding companies or insurers, the Trustee and Master Servicer shall promptly furnish a copy of such report to the NIMS InsurerSecurities Administrator. Any amounts relating to the Mortgage Loans collected by the Master Servicer under any such bond or policy shall be promptly remitted by the Master Servicer to the Securities Administrator for deposit into the Certificate Account. Any amounts relating to the Mortgage Loans collected by any Servicer under any such bond or policy shall be remitted to the Master Servicer to the extent provided in the applicable Servicing Agreement.
Appears in 1 contract
Samples: Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2004-11)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“"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 Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fannie Mae in the Servicer. Upon Fannie Mae Guides or by Freddie Mac in the request of the Master Servicer, the Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerFreddix Xxx Guides.
Appears in 1 contract
Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-13arx)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.18 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerFNMA. Upon the request of the Master Servicer, the Trustee or the NIMS InsurerTrustee, the Servicer shall cause to be delivered to such party the Trustee 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 days’ prior written notice to the Master Servicer, the Trustee and the NIMS InsurerTrustee.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (CSFB Mortgage Acceptance Corp Mort Pa THR Cert Ser 2002-Ftb1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Special Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 Transferred Mortgage Loans (“Special Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Special Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Special Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Special Servicer against losses in connection with the release or satisfaction of a Transferred Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Special Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fanxxx Xxe in the ServicerFanxxx Xxe Xxides or by Frexxxx Xxc in the Frexxxx Xxx Xxxxxxx’ & Servicers’ Guide. Upon the request of the Master ServicerServicer or the Trustee, the Trustee or the NIMS Insurer, the Special Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS Insurer.
Appears in 1 contract
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“"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 Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by in the ServicerFNMA Guides. Upon the request of the Master Servicer, the Trustee or the NIMS InsurerPurchaser, the Servicer shall cause to be delivered to such party 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 Master ServicerPurchaser. In the event that the surety or insurer charges the Servicer a fee for providing such evidence, the Trustee and Purchaser shall reimburse the NIMS InsurerServicer for the reasonable expense incurred by the Servicer in furnishing such evidence.
Appears in 1 contract
Samples: Servicing Agreement (Chevy Chase Preferred Capital Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standard, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the Servicer. Upon the request of the Master Servicer, the Trustee Servicer or the NIMS InsurerTrustee, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee Servicer and the NIMS InsurerTrustee.
Appears in 1 contract
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardmaintain, at its own expense, a Fidelity Bond, which is also known as a blanket Fidelity Bond fidelity bond under the Fannie Mae Guides, and an Errors and Omissions Insurance errors xxx xmxxxions insurance policy (an "E&O 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 (“Servicer 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 bond and shall protect and insure the 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 Servicer Employeespersons. Such Fidelity Bond and Errors and Omissions Insurance E&O Policy shall also shall protect and insure the Servicer against losses in connection with the failure to maintain any insurance policies required pursuant to this Agreement and the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 4.12 requiring such the Fidelity Bond and Errors and Omissions Insurance or E&O Policy shall diminish or relieve the 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 Fannie Mae in the ServicerFannie Mae Guixxx xx by Freddie Xxx xx xxx Freddie Mac Gxxxxx. Upon The Servicer xxxxx deliver to the request Purchaser a certificate from the surety and the insurer as to the existence of the Master Servicer, the Trustee or the NIMS Insurer, the Servicer Fidelity Bond and E&O Policy and shall cause to be delivered to such party 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 Master ServicerPurchaser. 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 Fannie Mae Guides, on the Fidelixx Xxxd and as additional insured on the E&O Policy. Upon request by the Purchaser, the Trustee Servicer shall provide the Purchaser with an insurance certificate certifying coverage under this Section 4.12, and the NIMS Insurerwill provide an update to such certificate upon request, or upon renewal or material modification of coverage.
Appears in 1 contract
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer Seller shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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, funds,.........................................................12 Section 2.13 money, documents or papers relating to the Mortgage Loans (“Servicer "Seller Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer Seller against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Seller Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer 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 3.13 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer 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 Xxx in the ServicerXxxxxx Mae Guides or by Xxxxxxx Mac in the Xxxxxxx Xxx Xxxxxxx' & Servicers' Guide. Upon the request of the Master ServicerPurchaser, the Trustee or the NIMS Insurer, the Servicer Seller shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS Insurer.Purchaser............................13
Appears in 1 contract
Samples: Interim Servicing Agreement (Mortgage Pass-Through Certificates Series 2003-37a)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standard, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the Servicer. Upon the request of the Master Servicer, the Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such party 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 Master Servicer, Servicer and the Trustee and the NIMS Insurer.
Appears in 1 contract
Samples: Securitization Servicing Agreement (BNC CORP Mortgage Loan Trust 2007-Bnc4)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket fidelity bond (“Fidelity Bond Bond”) and an errors and omissions insurance policy (“Errors and Omissions Insurance Policy”), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.06 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerFNMA. Upon the request of the Master Servicer, the Indenture Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerIndenture 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 Servicer Company shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance PolicyPolicy that meets the requirements of Xxxxxx Xxx or Xxxxxxx Mac, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“Servicer Company Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer Company against losses, including forgery, theft, embezzlementembezzle-ment, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer 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 3.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer Company from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal acceptable to the corresponding amounts required by the ServicerXxxxxx Mae or Xxxxxxx Mac. Upon the request of the Master Servicerany Purchaser, the Trustee or the NIMS Insurer, the Servicer Company shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 1 contract
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Each Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the related Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the each Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.16 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the a Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by FNMA, unless the Servicerrelated Servicer has obtained a waiver of such requirement. Upon the request of the Master ServicerTrust Administrator, the Trustee or the NIMS Insurer, the related Servicer shall cause to be delivered to such party the Trust 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 days’ ' prior written notice to the Master Servicer, the Trustee and the NIMS InsurerTrust Administrator.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Credit Suisse Adjustable Rate Mortgage Trust 2006-1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer Company shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“Servicer "Company Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Financial Institution Bond Form 22 - Fidelity Bond American International Specialty Lines Insurance Policy Form ("5713) 5/93") Mortgage Banker’s Blanket Bond Banker Broker E&O and shall protect and insure the Servicer Company against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer 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 3.13 4.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer 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 the ServicerFNMA. Upon the request of the Master Servicerany Purchaser, the Trustee or the NIMS Insurer, the Servicer Company shall cause to be delivered to such party Purchaser 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 days’ ' prior written notice to the Master Servicer, the Trustee and the NIMS InsurerPurchaser.
Appears in 1 contract
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible companies, at its own expense, a blanket fidelity bond ("Fidelity Bond Bond") and an errors and omissions insurance policy ("Errors and Omissions Insurance Policy"), with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the related Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy may contain a deductible clause on terms substantially equivalent to to those commercially available and maintained by comparable servicers. If such Fidelity Bond and Errors and Omissions Insurance Policy contains a deductible clause, the Servicer shall, in the event that there shall not have been maintained on the related Mortgage Property an insurance policy comply with this Section, and there shall have been a loss that would have been covered by such insurance policy, deposit into the Collection Account the amount not otherwise payable under such insurance policy because of such deductible clause. 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 Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such the Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a related Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 3.06 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerXxxxxx Xxx. Upon the request of the Master Servicer, the Indenture Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such party 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 and insurance policy shall in no event be terminated or materially modified without 30 days’ prior written notice to the Master Servicer, the Trustee and the NIMS Insurersurety.
Appears in 1 contract
Samples: Sale and Servicing Agreement (IndyMac Home Equity Mortgage Loan Asset-Backed Trust, Series 2006-H1)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“"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 Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 4.02(m) requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding coverage amounts required which are acceptable for the Servicer as determined by the ServicerXxxxxx Xxx and Xxxxxxx Mac. Upon the request of the Master Servicer, the Trustee Servicer or the NIMS InsurerIndenture Trustee, the Servicer shall cause to be delivered to such party 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 [30] days’ ' prior written notice to the Master Servicer, the Trustee Servicer and the NIMS InsurerIndenture Trustee.
Appears in 1 contract
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Interim Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“Interim Servicer Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Interim Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Interim Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the 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 3.13 2.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Interim Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by Fxxxxx Mae in the ServicerFxxxxx Mxx Guides or by Fxxxxxx Mac in the Fxxxxxx Mac Interim Servicers’ & Servicers’ Guide. Upon the request of the Master ServicerPurchaser, the Trustee or the NIMS Insurer, the Interim Servicer shall cause to be delivered to such party 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 Master Servicer, the Trustee and the NIMS InsurerPurchaser.
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Samples: Interim Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-12)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 (“"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 Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by FLEA in the ServicerFNMA Mortgage-Backed Securities Selling and Servicing Guide or by FHLMC in the FHLMC Guide. Upon the request of the Master Servicer, the Trustee or the NIMS InsurerPurchaser, the Servicer shall cause to be delivered to such party 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 Master ServicerPurchaser. In the event that the surety or insurer charges the Servicer a fee for providing such evidence, the Trustee and Purchaser shall reimburse the NIMS InsurerServicer for the reasonable expense incurred by the Servicer in furnishing such evidence.
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Samples: Servicing Agreement (Chevy Chase Preferred Capital Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally acceptable under the Servicing Standardresponsible 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 Eligible Mortgage Loans (“Servicer Company Employees”). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Company Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a an Eligible Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 4.13 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond and insurance policy shall be at least equal to the corresponding amounts required by the ServicerGuidelines. Upon the request of the Master Servicer, the Trustee or the NIMS InsurerAgent, the Servicer shall cause to be delivered to such party the Agent 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 Master Servicer, the Trustee and the NIMS Insurerpolicy.
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Samples: Servicing Agreement (PHH Corp)
Maintenance of Fidelity Bond and Errors and Omissions Insurance. The Servicer shall maintain with a carrier generally an insurer acceptable under the Servicing Standardto Xxxxxx Xxx and Xxxxxxx Mac, at its own expense, a blanket Fidelity Bond and an Errors and Omissions Insurance Policy, with broad coverage on all officers, employees or other persons acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Mortgage Loans (“"Servicer Employees”"). Any such Fidelity Bond and Errors and Omissions Insurance Policy shall be in the form of the Mortgage Banker’s 's Blanket Bond and shall protect and insure the Servicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such Servicer Employees. Such Fidelity Bond and Errors and Omissions Insurance Policy also shall protect and insure the Servicer against losses in connection with the release or satisfaction of a Mortgage Loan without having obtained payment in full of the indebtedness secured thereby. No provision of this Section 3.13 2.12 requiring such Fidelity Bond and Errors and Omissions Insurance Policy shall diminish or relieve the Servicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such bond Fidelity Bond and insurance policy Errors and Omissions Insurance Policy shall be at least equal to the corresponding amounts required by Xxxxxx Mae in the ServicerXxxxxx Xxx Mortgage-Backed Securities Selling and Servicing Guide. Upon the request of the Master Servicer, the Trustee or the NIMS InsurerOwner, the Servicer shall cause to be delivered to such party the Owner a certified true copy of such fidelity bond Fidelity Bond and insurance policy Errors 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 Master Servicer, the Trustee and the NIMS InsurerOmissions Insurance Policy.
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Samples: Flow Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-Sl2)