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

Maintenance of the Primary Mortgage Insurance Policies. (a) The Servicer shall not take, or permit any subservicer 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 Servicer or such subservicer, would have been covered thereunder. The Servicer shall cause to be kept 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. The Servicer shall not, and shall not permit any subservicer 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. Any such primary mortgage insurance policies shall be issued by a Qualified Insurer.