MERS Member. The Company shall become a member of MERS on or before the Servicing Transfer Date and, for so long as this Agreement is in effect, maintain itself as a MERS member in good standing (including paying all dues and other fees required to maintain its membership, which costs shall not constitute Company Advances, and complying with MERS policies and procedures). The Company shall give prompt written notice of any disciplinary action instituted with respect to its failure to pay any fees required in connection with its use of the MERS® system or otherwise comply with any MERS policies or procedures.
MERS Member. The Seller is a member of MERS in good standing, and has complied with the rules and procedures of MERS in connection with the HELOCs registered with the MERS System.
