Master Servicer Responsibilities Sample Clauses

Master Servicer Responsibilities. The Master Servicer will supervise, monitor and oversee the obligation of the Primary Servicers to service and administer the applicable Mortgage Loans in accordance with Accepted Servicing Practices and will have full power and authority to do any and all things which it may deem necessary or appropriate in its sole discretion in connection with such master servicing and administration in a manner consistent with Accepted Servicing Practices.‌ If the Master Servicer is otherwise eligible to do so, and in the case of Xxxxxx Xxx as Master Servicer no Guarantor Event of Default of the type described in clause (a) of Section 12.1 has occurred and is continuing, then it may act as an interim servicer (when replacing a Primary Servicer) or as a Primary Servicer, and in such capacity will be responsible for performing all of the obligations listed under Subsection 5.1(3) and Sections 5.2 through 5.11 as it deems necessary and appropriate in servicing the Mortgage Loans in each Pool for and on behalf of Holders. Any or all of the obligations of the Primary Servicer may be performed by the Master Servicer if the Primary Servicer is not required by the related Servicing Contract or under paragraph (a) of Subsection 5.1(4) to perform them.
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Master Servicer Responsibilities. The Master Servicer will have the full power and authority on behalf of and for the benefit of, and is responsible to, each Trust, to do the following: (a) enter into Servicing Contracts with Direct Servicers providing for the servicing and administration of the Mortgage Loans in accordance with the related Trust Documents (except that the related Servicing Contract may be more restrictive); (b) supervise and monitor the servicing of the Mortgage Loans by the Direct Servicers; (c) make Servicing Advances if a Direct Servicer does not do so and if the Master Servicer determines to do so pursuant to Subsection 5.2(1); (d) establish procedures for the retention, release and return of Mortgage Documents by the related Custodian, including procedures for the release of Mortgage Documents to the Trustee, or to the Master Servicer or Direct Servicer for servicing purposes, and for the return of those Mortgage Documents to the applicable Custodian when such Person’s need for them has ended, until such time as that Mortgage Loan or the related REO Property is no longer included in the related Trust Fund; (e) maintain records regarding each Trust as provided in Subsection 5.5(3); (f) manage and dispose of REO Property as provided in Subsections 5.11(2) and 5.11(3); and (g) make and authorize withdrawals from the Custodial Account as provided in Sections 6.2 and 6.3. If the Master Servicer is otherwise eligible to do so, it may act as an interim servicer (when replacing a Direct Servicer) or as a Direct Servicer, and in such capacity will be responsible for performing all of the obligations listed under Subsection 5.1(3) and Sections 5.2 through 5.11; provided, however, that if Xxxxxx Xxx as Master Servicer so determines to act as an interim servicer or as a Direct Servicer and no Guarantor Event of Default of the type described in clause (a) of Section 12.1 has occurred and is continuing, then Xxxxxx Mae will be responsible for performing such of the obligations listed under Subsection 5.1(3) and Sections 5.3 through 5.11 as it deems necessary and appropriate in servicing the Mortgage Loans in each Pool for and on behalf of Holders. Any or all of the obligations of the Direct Servicer may be performed by the Master Servicer if the Direct Servicer is not required by the related Servicing Contract or under paragraph (a) of Subsection 5.1(4) to perform them.
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Master Servicer Responsibilities. The Master Servicer will have the full power and authority on behalf of and for the benefit of, and is responsible to, each Trust, to do or cause to be done any and all things that it may deem necessary or appropriate in its sole discretion in connection with the servicing of the Mortgage Loans subject only to the standard in Subsection 5.1(1) above. Such responsibilities may include the following: (a) enter into Servicing Contracts with Primary Servicers providing for the servicing and administration of the Mortgage Loans in accordance with the related Trust Documents (except that the related Servicing Contract may be more restrictive); (b) supervise and monitor the servicing of the Mortgage Loans by the Primary Servicers; (c) make Servicing Advances if a Primary Servicer does not do so and if the Master Servicer determines to do so pursuant to Subsection 5.2(1); (d) establish procedures for the retention, release and return of Mortgage Documents by the related Custodian; (e) maintain records regarding each Trust as provided in Subsection 5.4(4); (f) manage and dispose of REO Property as provided in Subsection 5.10; (g) retain possession of Defeasance Securities and Supplemental Collateral (unless otherwise provided in the Servicing Contract); and (h) make and authorize withdrawals from the Custodial Account as provided in Sections 6.2 and 6.
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Related to Master Servicer Responsibilities

  • Provider Responsibilities The Private Child-Caring Facility (PCC) (a.k.a., Provider) must comply with the following requirements:

  • Owner Responsibilities Owner shall: A. Provide all documentation, records and disclosures as required by law or required by Broker to manage and operate the Property, and immediately notify Broker if Owner becomes aware of any change in such documentation, records or disclosures, or any matter affecting the habitability of the Property. B. Indemnify, defend and hold harmless Broker, and all persons in Broker's firm, regardless of responsibility, from all costs, expenses, suits, liabilities, damages, attorney fees and claims of every type, including but not limited to those arising out of injury or death of any person, or damage to any real or personal property of any person, including Owner, for: (i) any repairs performed by Owner or by others hired directly by Owner; or (ii) those relating to the management, leasing, rental, security deposits, or operation of the Property by Broker, or any person in Broker's firm, or the performance or exercise of any of the duties, powers or authorities granted to Broker. C. Maintain the Property in a condition fit for human habitation as required by West Virginia statute § 37-6-30. D. Carry and pay for: (i) public and premises liability insurance in an amount of no less than $1,000,000; and (ii) property damage and worker's compensation insurance adequate to protect the interests of Owner and Broker. Broker shall be, and Owner authorizes Broker to be, named as an additional insured party on Owner's policies. E. Pay any late charges, penalties and/or interest imposed by lenders or other parties for failure to make payment to those parties, if the failure is due to insufficient funds in Broker's trust account available for such payment. F. Immediately replace any funds required if there are insufficient funds in Broker's trust account to cover Owner's responsibilities.

  • Employer Responsibilities Recognizing the inherent risk(s) in a correctional setting, the Employer is obligated to provide a safe workplace and to educate employees on proper safety procedures and use of protective and safety equipment. The Employer is committed to responding to legitimate safety concerns raised by the Union and employees. The Employer will comply with federal and state safety standards, including requirements relating to first aid training, first aid equipment and the use of protective devices and equipment.

  • Customer Responsibilities Notwithstanding the above, Customer agrees that except as provided by this DPA, Customer is responsible for its secure use of the Services, including securing its account authentication credentials, protecting the security of Customer Data when in transit to and from the Services and taking any appropriate steps to securely encrypt or backup any Customer Data uploaded to the Services.

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