Common use of Maintenance of the Insurance Policies Clause in Contracts

Maintenance of the Insurance Policies. (a) The Master Servicer shall enforce any provision under the Servicing Agreement prohibiting the Servicer from taking any action that would result in noncoverage under any applicable Insurance Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to enforce any obligation of the Servicer under the Servicing Agreement to keep in force and effect (to the extent that the HELOC requires the Mortgagor to maintain such insurance), insurance applicable to each HELOC in accordance with the provisions of this Agreement and the Servicing Agreement. The Master Servicer shall enforce any provision under the Servicing Agreement prohibiting the Servicer from canceling or refusing to renew any such Insurance Policy that is in effect at the date of the initial issuance of the HELOC and is required to be kept in force thereunder except in accordance with the provisions of the Servicing Agreement.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (Saco I Trust 2005-Gp1), Sale and Servicing Agreement (Saco I Trust 2005-Gp1), Sale and Servicing Agreement (Greenpoint Mortgage Funding Trust 2007-He1)

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Maintenance of the Insurance Policies. (a) The Master Servicer shall enforce any provision under the Servicing Agreement or this Agreement, as applicable, prohibiting the Servicer Servicers from taking any action that would result in noncoverage under any applicable Insurance Policy of any loss which, but for the actions of the ServicerServicers, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to enforce any obligation of the related Servicer under the Servicing Agreement or this Agreement, as applicable, to keep in force and effect (to the extent that the HELOC requires the Mortgagor to maintain such insurance), insurance applicable to each HELOC in accordance with the provisions of this Agreement and the Servicing Agreement. The Master Servicer shall enforce any provision under the Servicing Agreement or this Agreement prohibiting the Servicer Servicers from canceling or refusing to renew any such Insurance Policy that is in effect at the date of the initial issuance of the HELOC and is required to be kept in force thereunder except in accordance with the provisions of the Servicing Agreement or this Agreement.

Appears in 2 contracts

Samples: Mortgage Loan Purchase Agreement (SACO I Trust 2006-8), Sale and Servicing Agreement (SACO I Trust 2006-1)

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Maintenance of the Insurance Policies. (a) The Master Servicer shall enforce any provision under the Servicing Agreement this Agreement, prohibiting the Servicer from taking any action that would result in noncoverage under any applicable Insurance Policy of any loss which, but for the actions of the Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to enforce any obligation of the Servicer under the Servicing Agreement this Agreement, to keep in force and effect (to the extent that the HELOC requires the Mortgagor to maintain such insurance), insurance applicable to each HELOC in accordance with the provisions of this Agreement and the Servicing Agreement. The Master Servicer shall enforce any provision under the Servicing this Agreement prohibiting the Servicer from canceling or refusing to renew any such Insurance Policy that is in effect at the date of the initial issuance of the HELOC and is required to be kept in force thereunder except in accordance with the provisions of the Servicing this Agreement.

Appears in 1 contract

Samples: Sale and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Gp1)

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