Common use of Maintenance of Mortgage Impairment Insurance Clause in Contracts

Maintenance of Mortgage Impairment Insurance. If Servicer obtains and maintains a blanket policy insuring against hazard losses on all of the Mortgage Loans issued by an issuer that has a Best rating of A:V, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 5.10 and otherwise complies with all other requirements of Section 5.10, Servicer shall conclusively be deemed to have satisfied its obligations as set forth in Section 5.10. If such blanket policy contains a deductible clause and there shall not have been maintained on the related Mortgaged Property or REO Property an additional individual policy complying with Section 5.10, upon the occurrence of a loss that would have been covered by such individual policy, Servicer shall deposit in the Custodial Account the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as servicer of the Mortgage Loans, Servicer agrees to prepare and present, on behalf of the Seller, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Mortgage Impairment Insurance. If Servicer obtains and maintains a blanket policy insuring against hazard losses on all of the Mortgage Loans issued by an issuer acceptable to Xxxxxx Xxx, and that has a Best rating of A:VV or better, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 5.10 and otherwise complies with all other requirements of Section 5.10, Servicer shall conclusively be deemed to have satisfied its obligations as set forth in Section 5.10. If such blanket policy contains a deductible clause and there shall not have been maintained on the related Mortgaged Property or REO Property an additional individual policy complying with Section 5.10, upon the occurrence of a loss that would have been covered by such individual policy, Servicer shall deposit in the Custodial Account the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as servicer of the Mortgage Loans, Servicer agrees to prepare and present, on behalf of the Seller, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Mortgage Impairment Insurance. If Servicer Countrywide obtains and maintains a blanket policy insuring against hazard losses on all of the Mortgage Loans issued by an issuer that has a Best rating of A:V, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 5.10 4.10 and otherwise complies with all other requirements of Section 5.104.10, Servicer Countrywide shall conclusively be deemed to have satisfied its obligations as set forth in Section 5.104.10. If such blanket policy contains a deductible clause and there shall not have been maintained on the related Mortgaged Property or REO Property an additional individual policy complying with Section 5.104.10, upon the occurrence of a loss that would have been covered by such individual policy, Servicer Countrywide shall deposit in the Custodial Account the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as servicer of the Mortgage Loans, Servicer Countrywide agrees to prepare and present, on behalf of the SellerPurchaser, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Mortgage Impairment Insurance. If Servicer Countrywide obtains and maintains a blanket policy insuring against hazard losses on all of the Mortgage Loans issued by an issuer that has a Best rating of A:V, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 5.10 4.10 and otherwise complies with all other requirements of Section 5.104.10, Servicer Countrywide shall conclusively be deemed to have satisfied its obligations as set forth in Section 5.104.10. If such blanket policy contains a deductible clause and there shall not have been maintained on the related Mortgaged Property or REO Property an additional individual policy complying with Section 5.104.10, upon the occurrence of a loss that would have been covered by such individual policy, Servicer Countrywide shall deposit in the Custodial Account the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as servicer of the Mortgage Loans, Servicer Countrywide agrees to prepare and present, on behalf of the Sellerrelated Purchaser, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.

Maintenance of Mortgage Impairment Insurance. If Servicer Countrywide obtains and maintains a blanket policy insuring against hazard losses on all of the Mortgage Loans issued by an issuer that has a Best rating of A:V, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 5.10 4.10 and otherwise complies with all other requirements of Section 5.104.10, Servicer Countrywide shall conclusively be deemed to have satisfied its obligations as set forth in Section 5.104.10. If such blanket policy contains a deductible clause and there shall not have been maintained on the related Mortgaged Property or REO Property an additional individual policy complying with Section 5.104.10, upon the occurrence of a loss that would have been covered by such individual policy, Servicer Countrywide shall deposit in the Custodial Account the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as servicer of the Mortgage Loans, Servicer Countrywide agrees to prepare and present, on behalf of the SellerPurchaser, claims under any such blanket policy in a timely fashion in accordance with the terms of such policy.