Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any Servicer (consistent with the applicable Servicing Agreement) to take, any action that would result in non-coverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of such Master Servicer or Servicer, would have been covered thereunder. To the extent that coverage is available, the Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each Servicer to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit any Servicer to, cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. (b) The Master Servicer agrees to present, or to cause each Servicer to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 4.02.
Appears in 57 contracts
Samples: Trust Agreement (Lehman Mortgage Trust 2007-6), Trust Agreement (Lehman Mortgage Trust 2007-3), Trust Agreement (Lehman Mortgage Trust 2008-2)
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any Servicer (consistent with the applicable Servicing Agreement) to take, any action that would result in non-coverage noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of such Master Servicer or such Servicer, would have been covered thereunder. To the extent that coverage is available, the Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each Servicer to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not knowingly permit any Servicer to, cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.
(b) The Master Servicer agrees agrees, to presentthe extent provided in each Servicing Agreement, or to cause each Servicer to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 4.02.
Appears in 37 contracts
Samples: Trust Agreement (Lehman XS Trust 2006-1), Trust Agreement (Lehman XS Trust 2006-20), Trust Agreement (LXS 2007-8h)
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any Servicer (consistent with the applicable Servicing Agreement) to take, any action that would result in non-coverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of such Master Servicer or Servicer, would have been covered thereunder. To the extent that coverage is available, the Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each Servicer to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit any Servicer to, cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder except as required by a applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.
(b) The Master Servicer agrees to present, or to cause each Servicer to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 4.02.
Appears in 26 contracts
Samples: Trust Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-3), Trust Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-3), Trust Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2008-1)
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any Servicer (consistent with the applicable Servicing Agreement) to take, any action that would result in non-coverage noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of such Master Servicer or such Servicer, would have been covered thereunder. To the extent that coverage is available, the Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each Servicer to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related applicable Servicing Agreement, as applicable. The Master Servicer shall not, and shall not knowingly permit any Servicer to, cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related applicable Servicing Agreement, as applicable.
(b) The Master Servicer agrees agrees, to presentthe extent provided in the related Servicing Agreement, or to cause each Servicer to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 4.02.
Appears in 20 contracts
Samples: Trust Agreement (Lehman XS Trust Series 2007-15n), Trust Agreement (Lehman XS Trust Series 2007-20n), Trust Agreement (GreenPoint Mortgage Funding Trust 2006-Ar4)
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any Servicer (consistent with to the extent such action is prohibited under the applicable Servicing Agreement) to take, any action that would result in non-coverage noncoverage under any applicable Primary Mortgage Insurance Policy of primary mortgage insurance policy or any loss which, but for the actions of such Master Servicer or Servicer, would have been covered thereunder. To the extent that coverage is available, the The Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each Servicer (to the extent required under the related Servicing Agreement) to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), ) primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit any Servicer (to the extent required under the related Servicing Agreement) to, cancel or refuse to renew any such Primary Mortgage Insurance Policy primary mortgage insurance policy that is in effect at the date of the initial issuance of the Certificates Mortgage Note and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.
(b) The Master Servicer agrees to present, or to cause each Servicer (to the extent required under the related Servicing Agreement) to present, on behalf of the Trustee and the related Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies primary mortgage insurance policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies primary mortgage insurance policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01Sections 3.22 and 3.23, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies primary mortgage insurance policies shall be deposited by the related Servicer in its Protected Account or by the Master Servicer in the Collection Distribution Account, subject to withdrawal pursuant to Section 4.023.22 or 3.24, as applicable.
Appears in 8 contracts
Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-4), Pooling and Servicing Agreement (Deutsche Mortgage Securities Inc), Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-Ar1)
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any Servicer (consistent with to the extent such action is prohibited under the applicable Servicing Agreement) to take, any action that would result in non-coverage noncoverage under any applicable Primary Mortgage Insurance Policy primary mortgage insurance policy of any loss which, but for the actions of such Master Servicer or Servicer, would have been covered thereunder. To the extent that coverage is available, the The Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each Servicer (to the extent required under the related Servicing Agreement) to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit any Servicer (to the extent required under the related Servicing Agreement) to, cancel or refuse to renew any such Primary Mortgage Insurance Policy primary mortgage insurance policy that is in effect at the date of the initial issuance of the Certificates Mortgage Note and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.
(b) The Master Servicer agrees to present, or to cause each Servicer (to the extent required under the related Servicing Agreement) to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies primary mortgage insurance policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies primary mortgage insurance policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01Sections 3.22 and 3.23, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies primary mortgage insurance policies shall be deposited in the Master Servicer Collection Account, subject to withdrawal pursuant to Section 4.02Sections 3.24 and 3.26.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Ace Securities Corp), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp), Pooling and Servicing Agreement (Ace Securities Corp Home Equity Loan Trust 2002- He1)
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any Servicer (consistent with to the extent such action is prohibited under the applicable Servicing Agreement) to take, any action that would result in non-coverage noncoverage under any applicable Primary Mortgage Insurance Policy of primary mortgage insurance policy or any loss which, but for the actions of such Master Servicer or Servicer, would have been covered thereunder. To the extent that coverage is available, the The Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each Servicer (to the extent required under the related Servicing Agreement) to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit any Servicer (to the extent required under the related Servicing Agreement) to, cancel or refuse to renew any such Primary Mortgage Insurance Policy primary mortgage insurance policy that is in effect at the date of the initial issuance of the Certificates Mortgage Note and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.
(b) The Master Servicer agrees to present, or to cause each Servicer (to the extent required under the related Servicing Agreement) to present, on behalf of the Trustee and the related Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies primary mortgage insurance policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies primary mortgage insurance policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01Sections 3.22 and 3.23, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies primary mortgage insurance policies shall be deposited by the related Servicer in its Protected Account or by the Master Servicer in the Collection Distribution Account, subject to withdrawal pursuant to Section 4.023.22 or 3.24, as applicable.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-3), Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-1)
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any Servicer (consistent with to the extent such action is prohibited under the applicable Servicing Agreement) to take, any action that would result in non-coverage noncoverage under any applicable Primary Mortgage Insurance Policy of primary mortgage insurance policy or any loss which, but for the actions of such Master Servicer or Servicer, would have been covered thereunder. To the extent that coverage is available, the The Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each Servicer (to the extent required under the related Servicing Agreement) to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit any Servicer (to the extent required under the related Servicing Agreement) to, cancel or refuse to renew any such Primary Mortgage Insurance Policy primary mortgage insurance policy that is in effect at the date of the initial issuance of the Certificates Mortgage Note and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.
(b) The Master Servicer agrees to present, or to cause each Servicer (to the extent required under the related Servicing Agreement) to present, on behalf of the Trustee Trustee, the Certificateholders and the CertificateholdersCertificate Insurer, claims to the insurer under any Primary Mortgage Insurance Policies primary mortgage insurance policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies primary mortgage insurance policies respecting defaulted Mortgage Loans. Pursuant to Section 4.013.23 and 3.24, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies primary mortgage insurance policies shall be deposited by the related Servicer in its Protected Account or by the Master Servicer in the Collection Distribution Account, subject to withdrawal pursuant to Section 4.02Sections 3.23 or 3.25, as applicable.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Deutsche Alt-B Securities, Inc. Mortgage Loan Trust, Series 2006-Ab2), Pooling and Servicing Agreement (Deutsche Alt-B Securities Mortgage Loan Trust, Series 2006-Ab1)
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly (to the extent within its control) permit any a Servicer (consistent with to the applicable extent such action is prohibited under this Agreement or the Servicing Agreement, as applicable) to take, any action that would result in non-coverage noncoverage under any applicable Primary Mortgage Insurance Policy of primary mortgage insurance policy or any loss which, but for the actions of such the Master Servicer or such Servicer, would have been covered thereunder. To the extent that coverage is available, the The Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause enforce each Servicer Servicer’s obligation to keep in force and effect (to the extent that the related Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and or the related Servicing Agreement, as applicable. The Master Servicer shall not, and (to the extent within its control) shall not permit any a Servicer to, cancel or refuse to renew any such Primary Mortgage Insurance Policy primary mortgage insurance policy that is in effect at the date of the initial issuance of the Certificates Mortgage Note and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and or the related Servicing Agreement, as applicable.
(b) . The Master Servicer agrees to present, or to cause enforce each Servicer Servicer’s obligation to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies primary mortgage insurance policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies primary mortgage insurance policies respecting defaulted Mortgage Loans. Pursuant to Section 4.013.31 of this Agreement or pursuant to the Servicing Agreement, as applicable, any amounts collected by the Master Servicer or any the related Servicer under any Primary Mortgage Insurance Policies primary mortgage insurance policies shall be deposited by the related Servicer or by the Master Servicer in the Collection Distribution Account, subject to withdrawal pursuant to Section 4.023.32.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2007-2), Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2007-3)
Maintenance of the Primary Mortgage Insurance Policies. 143
(a) The Master Servicer shall not take, or knowingly permit any Servicer (consistent with the applicable Servicing Agreement) to take, any action that would result in non-coverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of such Master Servicer or Servicer, would have been covered thereunder. To the extent that coverage is available, the Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each Servicer to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit any Servicer to, cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.
(b) The Master Servicer agrees to present, or to cause each Servicer to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 4.02.
Appears in 1 contract
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any Servicer (consistent with to the extent such action is prohibited under the applicable Servicing Agreement) to take, any action that would result in non-coverage noncoverage under any applicable Primary Mortgage Insurance Policy primary mortgage insurance policy of any loss which, but for the actions of such Master Servicer or Servicer, would have been covered thereunder. To the extent that coverage is available, the The Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each Servicer (to the extent required under the related Servicing Agreement) to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit any Servicer (to the extent required under the related Servicing Agreement) to, cancel or refuse to renew any such Primary Mortgage Insurance Policy primary mortgage insurance policy that is in effect at the date of the initial issuance of the Certificates Mortgage Note and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.
(b) The Master Servicer agrees to present, or to cause each Servicer (to the extent required under the related Servicing Agreement) to present, on behalf of the Trustee Trustee, the Certificateholders and the CertificateholdersMBIA, claims to the insurer under any Primary Mortgage Insurance Policies primary mortgage insurance policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies primary mortgage insurance policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01Sections 3.22 and 3.23, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies primary mortgage insurance policies shall be deposited in the Master Servicer Collection Account, subject to withdrawal pursuant to Section 4.02Sections 3.24 and 3.26.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ace Securities Corp Home Equity Loan Trust Series 2002-He2)
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any Servicer (consistent with the applicable Servicing Agreement) to take, any action that would result in non-coverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of such Master Servicer or Servicer, would have been covered thereunder. To the extent that coverage is available, the Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each the Servicer to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit any Servicer to, cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.
(b) The Master Servicer agrees to present, or to cause each the Servicer to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 4.02.
Appears in 1 contract
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any Servicer (consistent with the applicable Servicing Agreement) to take, any action that would result in non-coverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of such Master Servicer or Servicer, would have been covered thereunder. To the extent that coverage is available, the Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each Servicer to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit any Servicer to, cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder except as required by a applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.
(b) The Master Servicer agrees to present, or to cause each Servicer to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 4.02.. 101
Appears in 1 contract
Samples: Trust Agreement (Structured Asset Secs Corp Mort Pass-Thru Cert Sers 2004-2ac)
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly (to the extent within its control) permit any a Servicer (consistent with to the applicable extent such action is prohibited under this Agreement or the Servicing Agreement, as applicable) to take, any action that would result in non-coverage noncoverage under any applicable Primary Mortgage Insurance Policy of primary mortgage insurance policy or any loss which, but for the actions of such Master Servicer or the related Servicer, would have been covered thereunder. To the extent that coverage is available, the The Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each the related Servicer to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and or the related Servicing Agreement, as applicable. The Master Servicer shall not, and (to the extent within its control) shall not permit any the related Servicer to, cancel or refuse to renew any such Primary Mortgage Insurance Policy primary mortgage insurance policy that is in effect at the date of the initial issuance of the Certificates Mortgage Note and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and or the related Servicing Agreement, as applicable.
(b) . The Master Servicer agrees to present, or to cause each the related Servicer to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies primary mortgage insurance policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies primary mortgage insurance policies respecting defaulted Mortgage Loans. Pursuant to Section 4.013.31 of this Agreement or pursuant to the Servicing Agreement, as applicable, any amounts collected by the related Master Servicer or any the related Servicer under any Primary Mortgage Insurance Policies primary mortgage insurance policies shall be deposited by the related Servicer or by the Master Servicer in the Collection Distribution Account, subject to withdrawal pursuant to Section 4.023.32.
Appears in 1 contract
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any Servicer (consistent with the applicable Servicing Agreement) to take, any action that would result in non-coverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of such Master Servicer or Servicer, would have been covered thereunder. To the extent that coverage is available, the Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each Servicer to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable 109 to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit any Servicer to, cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.
(b) The Master Servicer agrees to present, or to cause each Servicer to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 4.02.
Appears in 1 contract
Samples: Trust Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-2)
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any Servicer (consistent with to the extent such action is prohibited under the applicable Servicing Agreement) to take, any action that would result in non-coverage noncoverage under any applicable Primary Mortgage Insurance Policy of primary mortgage insurance policy or any loss which, but for the actions of such Master Servicer or Servicer, would have been covered thereunder. To the extent that coverage is available, the The Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each Servicer (to the extent required under the related Servicing Agreement) to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit any Servicer (to the extent required under the related Servicing Agreement) to, cancel or refuse to renew any such Primary Mortgage Insurance Policy primary mortgage insurance policy that is in effect at the date of the initial issuance of the Certificates Mortgage Note and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.
(b) The Master Servicer agrees to present, or to cause each Servicer (to the extent required under the related Servicing Agreement) to present, on behalf of the Trustee Trustee, the Certificateholders and the CertificateholdersCertificate Insurer, claims to the insurer under any Primary Mortgage Insurance Policies primary mortgage insurance policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies primary mortgage insurance policies respecting defaulted Mortgage Loans. Pursuant to Section 4.013.23 and 3.24, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies primary mortgage insurance policies shall be deposited by the related Servicer in its Protected Account or by the Master Servicer in the Collection Distribution Account, subject to withdrawal pursuant to Section 4.02Sections 3.23 or 3.24, as applicable.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Deutsche Alt-B Securities Mortgage Loan Trust, Series 2006-Ab3)
Maintenance of the Primary Mortgage Insurance Policies. (a) The Neither Master Servicer shall not take, or knowingly permit any Servicer (consistent with the applicable Servicing Agreement) to take, any action that would result in non-coverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of such Master Servicer or Servicer, would have been covered thereunder. To the extent that coverage is available, the each Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each Servicer to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer Servicers shall not, and shall not permit any Servicer to, cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable; provided, however, that the Primary Mortgage Insurance Policy for each Mortgage Loan, for purposes of this Section 9.18, be deemed to have been originated after July 29, 1999.
(b) The Each Master Servicer agrees to present, or to cause each Servicer to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01, any amounts collected by the a Master Servicer or any Servicer under any Primary Mortgage Insurance Policies shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 4.02.
Appears in 1 contract
Samples: Trust Agreement (Structured Asset Securities Corp Mort Pa Th Cert Ser 2001-8a)
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any the Servicer (consistent with to the applicable Servicing extent such action is prohibited under this Agreement) to take, any action that would result in non-coverage noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of such the Master Servicer or the Servicer, would have been covered thereunder. To the extent that coverage is available, the The Master Servicer shall use its best reasonable efforts to keep in force and effect, or enforce the obligation of the Servicer (to cause each Servicer the extent required under this Agreement) to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit any the Servicer (to the extent required under this Agreement) to, cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of the Certificates Mortgage Note and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.
(b) The Master Servicer agrees to present, or cause the Servicer (to cause each Servicer the extent required under this Agreement) to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01Sections 5.01, 5.05 and 5.08, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies shall be deposited by the Servicer in its Protected Account or by the Master Servicer Collection Account, subject to withdrawal pursuant to Section 4.025.02 or 5.06, as applicable.
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Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Cl1)
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly (to the extent within its control) permit any a Servicer (consistent with to the applicable extent such action is prohibited under this Agreement or the Servicing Agreement, as applicable) to take, any action that would result in non-coverage noncoverage under any applicable Primary Mortgage Insurance Policy of primary mortgage insurance policy or any loss which, but for the actions of such Master Servicer or the related Servicer, would have been covered thereunder. To the extent that coverage is available, the The Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each the related Servicer to keep in force and effect (to the extent that the a Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and or the related Servicing Agreement, as applicable. The Master Servicer shall not, and (to the extent within its control) shall not permit any the related Servicer to, cancel or refuse to renew any such Primary Mortgage Insurance Policy primary mortgage insurance policy that is in effect at the date of the initial issuance of the Certificates Mortgage Note and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and or the related Servicing Agreement, as applicable.
(b) . The Master Servicer agrees to present, or to cause each the related Servicer to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies primary mortgage insurance policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies primary mortgage insurance policies respecting defaulted Mortgage Loans. Pursuant to Section 4.013.31 of this Agreement or pursuant to the Servicing Agreement, as applicable, any amounts collected by the related Master Servicer or any the Servicer under any Primary Mortgage Insurance Policies primary mortgage insurance policies shall be deposited by the Servicer or by the Master Servicer in the Collection Distribution Account, subject to withdrawal pursuant to Section 4.023.32.
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Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any Servicer (consistent with the applicable Servicing Agreement) to take, any action that would result in non-coverage noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of such Master Servicer or such Servicer, would have been covered thereunder. To the extent that coverage is available, the Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each Servicer to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not knowingly permit any Servicer to, cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.
(b) The Master Servicer agrees agrees, to presentthe extent provided in each Servicing Agreement, or to cause each Servicer to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01, any amounts collected by the Master Servicer or any Servicer under any Primary Mortgage Insurance Policies shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 4.02.. Section 9.19
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Samples: Trust Agreement (Structured Adjustable Rate Mortgage Loan Trust 2005-6xs)
Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any the Servicer (consistent with the applicable Servicing Agreement) to take, any action that would result in non-coverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of such Master Servicer or Servicer, would have been covered thereunder. To the extent that coverage is available, the Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each the Servicer to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit any the Servicer to, cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.
(b) The Master Servicer agrees to present, or to cause each the Servicer to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01, any amounts collected by the Master Servicer or any the Servicer under any Primary Mortgage Insurance Policies shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 4.02.
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Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or knowingly permit any the Servicer (consistent with the applicable Servicing Agreement) to take, any action that would result in non-coverage noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of such Master Servicer or the Servicer, would have been covered thereunder. To the extent that coverage is available, the Master Servicer shall use its best reasonable efforts to keep in force and effect, or to cause each the Servicer to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), primary mortgage insurance applicable to each Mortgage Loan in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not knowingly permit any the Servicer to, cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of the Certificates and is required to be kept in force hereunder except as required by applicable law or in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.
(b) The Master Servicer agrees agrees, to presentthe extent provided in Servicing Agreement, or to cause each the Servicer to present, on behalf of the Trustee and the Certificateholders, claims to the insurer under any Primary Mortgage Insurance Policies and, in this regard, to take such reasonable action as shall be necessary to permit recovery under any Primary Mortgage Insurance Policies respecting defaulted Mortgage Loans. Pursuant to Section 4.01, any amounts collected by the Master Servicer or any the Servicer under any Primary Mortgage Insurance Policies shall be deposited in the Collection Account, subject to withdrawal pursuant to Section 4.02.
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