Common use of Maintenance of the Primary Mortgage Insurance Policies Clause in Contracts

Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or permit the Company or the related Servicer (to the extent such action is prohibited under this Agreement or the related Servicing Agreement) to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the Master Servicer, the Company or the related Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to cause the Company and the related Servicer (to the extent required under this Agreement and 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 (including any LPMI Policy) in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit the Company or the related Servicer (to the extent required under this Agreement or the related Servicing 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.

Appears in 30 contracts

Samples: Distribution Instructions (Bear Stearns Asset Backed Securities I Trust 2005-Ac3), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac3), Distribution Instructions (Bear Stearns Asset Backed Securities I Trust 2005-Ac5)

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Maintenance of the Primary Mortgage Insurance Policies. (a) The Subject to Section 4.01, the Master Servicer shall not take, or knowingly permit the Company or the related any Servicer (to the extent such action is prohibited under this Agreement or the related applicable Servicing Agreement) to take, any action that would result in noncoverage non-coverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the such Master Servicer, the Company Servicer or the related Servicer, would have been covered thereunder. The Master Servicer shall shall, subject to Section 4.01, use its reasonable best reasonable efforts to cause the Company and the related each Servicer (to the extent required under this Agreement and 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 (including any LPMI Policy) 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 the Company or the related any Servicer (to the extent required under this Agreement or the related Servicing 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.

Appears in 19 contracts

Samples: Pooling and Servicing Agreement (Bayview Financial Mortgage Pass-Through Trust 2006-D), Pooling and Servicing Agreement (Bayview Financial Mortgage Pass-Through Trust 2007-B), Pooling and Servicing Agreement (Bayview Financial Mortgage Pass-Through Trust 2007-A)

Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or permit authorize the Company or the related Servicer (to the extent such action is prohibited under this Agreement or the related Servicing Agreement) to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the Master Servicer, the Company or the related Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to cause the Company and the related Servicer (to the extent required under this Agreement and 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 (including any LPMI Policy) in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit authorize the Company or the related Servicer (to the extent required under this Agreement or the related Servicing 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.

Appears in 12 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac5), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac6), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac3)

Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or permit the Company or the related Servicer (to the extent such action is prohibited under this Agreement or the related MortgageIT Servicing Agreement) to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the Master Servicer, the Company Servicer or the related Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to cause the Company and the related Servicer (to the extent required under this Agreement and the related MortgageIT 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 (including any LPMI Policy) in accordance with the provisions of this Agreement and the related MortgageIT Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit the Company or the related Servicer (to the extent required under this Agreement or the related MortgageIT Servicing 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related MortgageIT Servicing Agreement, as applicable.

Appears in 7 contracts

Samples: Sale and Servicing Agreement (MORTGAGEIT TRUST 2005-2, Mortgage-Backed Notes, Series 2005-2), Sale and Servicing Agreement (MORTGAGEIT TRUST 2005-3, Mortgage-Backed Notes, Series 2005-3), Sale and Servicing Agreement (MortgageIT Trust 2005-5, Mortgage-Backed Notes, Series 2005-5)

Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or permit the Company Servicer or the related Servicer Subservicer (to the extent such action is prohibited under this Agreement or the related Servicing Agreement) to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the Master Servicer, the Company Servicer or the related ServicerServicer or the Subservicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to cause the Company and Servicer or the related Servicer Subservicer (to the extent required under this Agreement and 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 (including any LPMI Policy) in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit the Company Servicer or the related Servicer Subservicer (to the extent required under this Agreement or the related Servicing 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Peoples Choice Home Loan Securities Corp), Sale and Servicing Agreement (Peoples Choice Home Loan Securities Corp), Sale and Servicing Agreement (Peoples Choice Home Loan Securities Trust Series 2005-3)

Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or permit the Company or the related any Servicer (to the extent such action is prohibited under this Agreement or the related Applicable Servicing Agreement, as applicable) to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the such Master Servicer, the Company Servicer or the related Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to cause the Company and the related each Servicer (to the extent required under this Agreement and the related Applicable 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 (including any LPMI Policy) in accordance with the provisions of this Agreement and the related Applicable Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit the Company or the related any Servicer (to the extent required under this Agreement or the related Applicable Servicing Agreement, as applicable) 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and or the related Applicable Servicing Agreement, as applicable.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-Oar3), Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-Oar4), Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-Oar2)

Maintenance of the Primary Mortgage Insurance Policies. (a) The Wells Master Servicer shall not take, or permit the Company or the related any Servicer (xxxer than the EMC Master Servicer), to the extent such action is prohibited under this Agreement or the related applicable Servicing Agreement) , to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the Wells Master Servicer, the Company Servicer or the related such Servicer, would have been covered thereundercovexxx xhereunder. The Wells Master Servicer shall use its best reasonable efforts to cause the Company and the related eaxx xxch Servicer (to the extent required under this Agreement and 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 Primary Mortgage Insurance applicable to each Mortgage Loan (including any LPMI Policy) in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Wells Master Servicer shall not, and shall not permit any Sexxxxxr (other than the Company or the related Servicer (EMC Master Servicer), to the extent required under this Agreement or the related Servicing Agreement) to, 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)

Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or permit the Company or the related any Servicer (to the extent such action is prohibited under this Agreement or the related applicable Servicing Agreement) to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the Master Servicer, the Company or the related such Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to cause the Company and the related each Servicer (to the extent required under this Agreement and 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 (including any LPMI Policy) in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit the Company or the related any Servicer (to the extent required under this Agreement or the related Servicing 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Asst Bk Cert Ser 2002-Ac3), Pooling and Servicing Agreement (Bear Stearns Asset Backed Certificates Series 2002-Ac4)

Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or permit the Company or the related Servicer (to the extent such action is prohibited under this Agreement or the related Wxxxx Fargo Servicing Agreement) to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the Master Servicer, the Company Servicer or the related Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to cause the Company and the related Servicer (to the extent required under this Agreement and the related Wxxxx Fargo 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 (including any LPMI Policy) in accordance with the provisions of this Agreement and the related Wxxxx Fargo Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit the Company or the related Servicer (to the extent required under this Agreement or the related Wxxxx Fargo Servicing 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Wxxxx Fargo Servicing Agreement, as applicable.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Bear Stearns Arm Trust, Mortgage-Backed Notes, Series 2005-9), Servicing Agreement (Bear Stearns Arm Trust, Mortgage-Backed Notes, Series 2005-5)

Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or permit the Company or the related Servicer (to the extent such action is prohibited under this Agreement or the related Mortgage Loan Purchase and Servicing Agreement) to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of primary mortgage insurance policy or any loss which, but for the actions of the Master Servicer, the Company Servicer or the related Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to cause the Company and the related Servicer (to the extent required under this Agreement the Mortgage Loan Purchase and 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 (including Loan, and to cause the Servicer to pay any LPMI Policy) premiums thereon, in accordance with the provisions of this Agreement and the related Mortgage Loan Purchase and Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit the Company or the related Servicer (to the extent required under this Agreement or the related Mortgage Loan Purchase and 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Mortgage Loan Purchase and Servicing Agreement, as applicable.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-2), Pooling and Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-3)

Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or permit the Company or the related any Servicer (to the extent such action is prohibited under this Agreement or the related applicable Servicing Agreement) to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the Master Servicer, the Company or the related such Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to cause the Company and the related each Servicer (to the extent required under this Agreement and 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 (including any LPMI lender-paid Primary Mortgage Insurance Policy) in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit the Company or the related any Servicer (to the extent required under this Agreement or the related Servicing 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)

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Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or permit the Company or the related Servicer (to the extent such action is prohibited under this Agreement or the related Servicing Agreement) to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the Master Servicer, the Company or the related Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to cause the Company and the related each Servicer (to the extent required under this Agreement and 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 (including any LPMI Policy) in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit the Company or the related Servicer (to the extent required under this Agreement or the related Servicing 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Ac2)

Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or permit the Company or the related any Sub-Servicer (to the extent such action is prohibited under this Agreement or the related applicable Sub-Servicing Agreement) to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the such Master Servicer, the Company Servicer or the related Sub-Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to cause the Company and the related each Sub-Servicer (to the extent required under this Agreement and the related Sub- 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 (including any LPMI Policy) in accordance with the provisions of this Agreement and the related Sub-Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit the Company or the related any Sub-Servicer (to the extent required under this Agreement or the related Sub-Servicing 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Sub-Servicing Agreement, as applicable. The Master Servicer will follow Fannie Mae guidelines with respect to xxx xxixxx of primary mortgage insurance.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or permit the Company or the related Servicer (to the extent such action is prohibited under this Agreement or the related Servicing Agreement) to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the Master Servicer, the Company Servicer or the related Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to cause the Company and the related Servicer (to the extent required under this Agreement and 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 (including any LPMI Policy) in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit the Company or the related Servicer (to the extent required under this Agreement or the related Servicing 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Luminent Mortgage Trust 2006-3)

Maintenance of the Primary Mortgage Insurance Policies. (a) The Subject to Section 4.01, the Master Servicer shall not take, or knowingly permit the Company or the related any Servicer (to the extent such action is prohibited under this Agreement or the related applicable Servicing Agreement) to take, any action that would result in noncoverage non-coverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the such Master Servicer, the Company Servicer or the related Servicer, would have been covered thereunder. The Master Servicer shall shall, subject to Section 4.01, use its reasonable best reasonable efforts to cause the Company and the related each Servicer (to the extent required under this Agreement and 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 (including any LPMI Policy) 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 the Company or the related any Servicer (to the extent required under this Agreement or the related Servicing 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.. 91

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bayview Financial Mortgage Pass-Through Trust 2006-A)

Maintenance of the Primary Mortgage Insurance Policies. (a) The Master Servicer shall not take, or permit the Company or the related Servicer (to the extent such action is prohibited under this Agreement or the related National City Servicing Agreement) to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the Master Servicer, the Company or the related Servicer, would have been covered thereunder. The Master Servicer shall use its best reasonable efforts to cause the Company and the related Servicer (to the extent required under this Agreement and the related National City 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 (including any LPMI Policy) in accordance with the provisions of this Agreement and the related National City Servicing Agreement, as applicable. The Master Servicer shall not, and shall not permit the Company or the related Servicer (to the extent required under this Agreement or the related National City Servicing 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related National City Servicing Agreement, as applicable.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Bk Sec Inc Series 2002-Ac5)

Maintenance of the Primary Mortgage Insurance Policies. (a) The Xxxxx Master Servicer shall not take, or permit the Company or the related any Servicer (other than the EMC Master Servicer), to the extent such action is prohibited under this Agreement or the related applicable Servicing Agreement) , to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the Xxxxx Master Servicer, the Company Servicer or the related such Servicer, would have been covered thereunder. The Xxxxx Master Servicer shall use its best reasonable efforts to cause the Company and the related each such Servicer (to the extent required under this Agreement and 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 Primary Mortgage Insurance applicable to each Mortgage Loan (including any LPMI Policy) in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Xxxxx Master Servicer shall not, and shall not permit the Company or the related any Servicer (other than the EMC Master Servicer), to the extent required under this Agreement or the related Servicing Agreement) to, 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)

Maintenance of the Primary Mortgage Insurance Policies. (a) The Wells Master Servicer shall not take, or permit the Company or the related any Servicer (othxx xxan the EMC Master Servicer), to the extent such action is prohibited under this Agreement or the related applicable Servicing Agreement) , to take, any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the Wells Master Servicer, the Company Servicer or the related such Servicer, would have been covered thereundertxxxxxnder. The Wells Master Servicer shall use its best reasonable efforts to cause the Company and the related Servicer each suxx Xxrvicer (to the extent required under this Agreement and 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 Primary Mortgage Insurance applicable to each Mortgage Loan (including any LPMI Policy) in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable. The Wells Master Servicer shall not, and shall not permit any Servicex (xxher than the Company or the related Servicer (EMC Master Servicer), to the extent required under this Agreement or the related Servicing Agreement) to, 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 Mortgage Note and is required to be kept in force hereunder except in accordance with the provisions of this Agreement and the related Servicing Agreement, as applicable.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)

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