Common use of Maintenance of LPMI Policy Clause in Contracts

Maintenance of LPMI Policy. The Servicer shall take all such actions as are necessary to service, maintain and administer the LPMI Loans in accordance with the LPMI Policy and to perform and enforce the rights of the insured under such LPMI Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Trust Fund to do anything it reasonably deems appropriate or desirable in connection with the servicing, maintenance and administration of the LPMI Policy. The Servicer shall not modify or assume a Mortgage Loan covered by the LPMI Policy or take any other action with respect to the Mortgage Loan which would result in non-coverage under the LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. If the LPMI insurer fails to pay a claim under the LPMI Policy as a result of breach by the Servicer of its obligations hereunder or under the LPMI Policy, the Servicer shall be required to deposit in the related Collection Account on or prior to the next succeeding Remittance Date an amount equal to such unpaid claim from its own funds without any right to reimbursement from the Trust Fund. The Servicer shall cooperate with the LPMI insurer and shall use its best efforts to furnish all reasonable aid, evidence and information in the possession of the Servicer to which such Servicer has access with respect to any LPMI Loan. None of the Servicing Administrator, the Backup Servicer, the Trustee or the Securities Administrator will under any circumstances be responsible for the servicing, maintenance or administration of the LPMI Policy or the payment of any fees or premiums in connection therewith.

Maintenance of LPMI Policy. The Each Servicer shall take all such actions as are necessary to service, maintain and administer the LPMI Loans in accordance with the LPMI Policy and to perform and enforce the rights of the insured under such LPMI Policy. Except as expressly set forth herein, the a Servicer shall have full authority on behalf of the Trust Fund to do anything it reasonably deems appropriate or desirable in connection with the servicing, maintenance and administration of the LPMI Policy. The Such Servicer shall not modify or assume a Mortgage Loan covered by the LPMI Policy or take any other action with respect to the such Mortgage Loan which would result in non-coverage under the LPMI Policy of any loss which, but for the actions of the such Servicer, would have been covered thereunder. If the LPMI insurer fails to pay a claim under the LPMI Policy as a result of breach by the such Servicer of its obligations hereunder or under the LPMI Policy, the such Servicer shall be required to deposit in the related Collection Account on or prior to the next succeeding Remittance Date an amount equal to such unpaid claim from its own funds without any right to reimbursement from the Trust Fund. The A Servicer shall cooperate with the LPMI insurer and shall use its best efforts to furnish all reasonable aid, evidence and information in the possession of the such Servicer to which such Servicer has access with respect to any LPMI Loan. None of the Servicing Administrator, the Backup Servicer, the Trustee or the Securities Administrator will under any circumstances be responsible for the servicing, maintenance or administration of the LPMI Policy or the payment of any fees or premiums in connection therewith.

Maintenance of LPMI Policy. The Servicer shall take all such actions as are necessary to service, maintain and administer the LPMI Loans in accordance with the LPMI Policy and to perform and enforce the rights of the insured under such LPMI Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Trust Fund to do anything it reasonably deems appropriate or desirable in connection with the servicing, maintenance and administration of the LPMI Policy. The Servicer shall not modify or assume a Mortgage Loan covered by the LPMI Policy or take any other action with respect to the such Mortgage Loan which would result in non-coverage under the LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. If the LPMI insurer fails to pay a claim under the LPMI Policy as a result of breach by the Servicer of its obligations hereunder or under the LPMI Policy, the Servicer shall be required to deposit in the related Collection Account on or prior to the next net succeeding Remittance Date an amount equal to such unpaid claim from its own funds without any right to reimbursement from the Trust Fund. The Servicer shall cooperate with the LPMI insurer and shall use its best efforts to furnish all reasonable aid, evidence and information in the possession of the Servicer to which such the Servicer has access with respect to any LPMI Loan. None of the Servicing Administrator, the Backup Servicer, the Trustee or the Securities Administrator will under any circumstances be responsible for the servicing, maintenance or administration of the LPMI Policy or the payment of any fees or premiums in connection therewith.

Maintenance of LPMI Policy. The Servicer shall take all such actions as are necessary to service, maintain and administer the LPMI Loans in accordance with the LPMI Policy and to perform and enforce the rights of the insured under such LPMI Policy. Except as expressly set forth herein, the Servicer shall have full authority on behalf of the Trust Fund to do anything it reasonably deems appropriate or desirable in connection with the servicing, maintenance and administration of the LPMI Policy. The Servicer shall not modify or assume a Mortgage Loan covered by the LPMI Policy or take any other action with respect to the such Mortgage Loan which would result in non-coverage under the LPMI Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. If the LPMI insurer fails to pay a claim under the LPMI Policy as a result of breach by the Servicer of its obligations hereunder or under the LPMI Policy, the Servicer shall be required to deposit in the related Collection Account on or prior to the next net succeeding Remittance Date an amount equal to such unpaid claim from its own funds without any right to reimbursement from the Trust Fund. The Servicer shall cooperate with the LPMI insurer and the Master Servicer and shall use its best efforts to furnish all reasonable aid, evidence and information in the possession of the Servicer to which such the Servicer has access with respect to any LPMI Loan. None of the Servicing Administrator, the Backup Servicer, the Trustee or the Securities Administrator will under any circumstances be responsible for the servicing, maintenance or administration of the LPMI Policy or the payment of any fees or premiums in connection therewith.