Common use of MI Policies, Claims Under the MI Policies Clause in Contracts

MI Policies, Claims Under the MI Policies. (a) Notwithstanding anything to the contrary elsewhere in this Agreement, the Servicer shall not agree to any modification or assumption of a MI Mortgage Loan or take any other action with respect to an MI Mortgage Loan that could result in denial of coverage under the MI Policy. The Servicer shall notify the MI Insurer that the Trustee, on behalf of the Certificateholders, is the "Insured," as that term is defined in the related MI Policy, of each MI Mortgage Loan insured by the MI Insurer; provided, that such designation is made solely for the purpose of entitling the Trust Fund to receive payments for claims under the MI Policy and the Trustee shall not, except as provided herein, be deemed to assume the obligations of the "Insured" thereunder. The Servicer shall, on behalf of the Trustee, prepare and file on a timely basis with the MI Insurer, with a copy to the Trustee, all claims that may be made under the MI Policy with respect to the MI Mortgage Loans. Consistent with all rights and obligations hereunder, the Servicer shall take all actions required under the MI Policy as a condition to the payment of any such claim. Any amount received from the MI Insurer with respect to any MI Mortgage Loan shall be deposited by the Servicer, no later than two Business Days following receipt thereof, into the Collection Account.

MI Policies, Claims Under the MI Policies. (a) Notwithstanding anything to the contrary elsewhere in this Agreement, the Servicer shall not agree to any modification or assumption of a an MI Mortgage Loan or take any other action with respect to an MI Mortgage Loan that could result in denial of coverage under the related MI Policy. The Servicer shall notify the related MI Insurer that the TrusteeTrustee or a co-trustee, as applicable, on behalf of the Certificateholders, is the "Insured," as that term is defined in the related MI Policy, of each MI Mortgage Loan insured by the such MI Insurer; provided, that such designation is made solely for the purpose of entitling the Trust Fund to receive payments for claims under the MI Policy Policies and the Trustee shall not, except as provided herein, be deemed to assume the obligations of the "Insured" thereunder. The Servicer shall, on behalf of the TrusteeTrustee or co-trustee, as applicable, prepare and file on a timely basis with the related MI Insurer, with a copy to the Trustee, all claims that which may be made under the related MI Policy with respect to the MI Mortgage Loans. Consistent with all rights and obligations hereunder, the Servicer shall take all actions required under the related MI Policy as a condition to the payment of any such claim. Any amount received from the an MI Insurer with respect to any such MI Mortgage Loan shall be deposited by the Servicer, no later than two Business Days following receipt thereof, into the Collection Account.

MI Policies, Claims Under the MI Policies. (a) Notwithstanding anything to the contrary elsewhere in this Agreement, the Servicer shall not agree to any modification or assumption of a MI Mortgage Loan or take any other action with respect to an MI Mortgage Loan that could result in denial of coverage under the MI related ML Policy. The Servicer shall notify the related MI Insurer that the Trustee, on behalf of the Certificateholders, is the "Insured," as that term is defined in the related MI Policy, of each MI Mortgage Loan insured by the such MI Insurer.; provided, that such designation is made solely for the purpose of entitling the Trust Fund to receive payments for claims under the MI Policy Policies and the Trustee shall not, except as provided herein, be deemed to assume the obligations of the "Insured" thereunder. The Servicer shall, on behalf of the Trustee, prepare and file on a timely basis with the related MI Insurer, with a copy to the Trustee, all claims that which may be made under the related MI Policy with respect to the MI Mortgage Loans. Consistent with all rights and obligations hereunder, the Servicer shall take all actions required under the related MI Policy as a condition to the payment of any such claim. Any amount received from the an MI Insurer with respect to any such MI Mortgage Loan shall be deposited by the Servicer, no later than two Business Days following receipt thereof, into the Collection Account.

MI Policies, Claims Under the MI Policies. (a) Notwithstanding anything to the contrary elsewhere in this Agreement, the Servicer shall not agree to any modification or assumption of a an MI Mortgage Loan or take any other action with respect to an MI Mortgage Loan that could result in denial of coverage under the related MI Policy. The Servicer shall notify the related MI Insurer that the TrusteeTrustee or a co-trustee, as applicable, on behalf of the Certificateholders, is the "Insured," as that term is defined in the related MI Policy, of each MI Mortgage Loan insured by the such MI Insurer; provided, that such designation is made solely for the purpose of entitling the Trust Fund to receive payments for claims under the MI Policy Policies and the Trustee shall not, except as provided herein, be deemed to assume the obligations of the "Insured" thereunder. The Servicer shall, on behalf of the TrusteeTrustee or co-trustee, as applicable, prepare and file on a timely basis with the related MI Insurer, with a copy to the Trustee, all claims that which may be made under the related MI Policy with respect to the MI Mortgage Loans. Consistent with all rights and obligations hereunder, the Servicer shall take all actions required under the related MI Policy as a condition to the payment of any such claim. Any amount received from the an MI Insurer with respect to any such MI Mortgage Loan shall be deposited by the Servicer, no later than two Business Days following receipt thereof, into the Collection Account.

MI Policies, Claims Under the MI Policies. (a) Notwithstanding anything to the contrary elsewhere in this Agreement, the Servicer shall not agree to any modification or assumption of a MI Mortgage Loan or take any other action with respect to an MI Mortgage Loan that could result in denial of coverage under the MI Policy. The Servicer shall notify the MI Insurer that the TrusteeSecurities Administrator, on behalf of the Certificateholders, is the "Insured," as that term is defined in the related MI Policy, of each MI Mortgage Loan insured by the MI Insurer; provided, that such designation is made solely for the purpose of entitling the Trust Fund to receive payments for claims under the MI Policy and the Trustee Securities Administrator shall not, except as provided herein, be deemed to assume the obligations of the "Insured" thereunder. The Servicer shall, on behalf of the TrusteeSecurities Administrator, prepare and file on a timely basis with the MI Insurer, with a copy to the Trustee, Insurer all claims that may be made under the MI Policy with respect to the MI Mortgage Loans. Consistent with all rights and obligations hereunder, the Servicer shall take all actions required under the MI Policy as a condition to the payment of any such claim. Any amount received from the MI Insurer with respect to any MI Mortgage Loan shall be deposited by the Servicer, no later than two Business Days following receipt thereof, into the Collection Account. The Servicer shall calculate the MI Insurer Fee due to the MI Insurer for each Distribution Date, and shall include such amount in the Servicer's Remittance Report related to such Distribution Date.

MI Policies, Claims Under the MI Policies. (a) Notwithstanding anything to the contrary elsewhere in this Agreement, the Servicer shall not agree to any modification or assumption of a MI Mortgage Loan or take any other action with respect to an MI Mortgage Loan that could result in denial of coverage under the MI Policy. The Servicer shall notify the MI Insurer that the Trustee, on behalf of the Certificateholders, is the "Insured," as that term is defined in the related MI Policy, of each MI Mortgage Loan insured by the MI Insurer; provided, that such designation is made solely for the purpose of entitling the Trust Fund to receive payments for claims under the MI Policy and the Trustee shall not, except as provided herein, be deemed to assume the obligations of the "Insured" thereunder. The Servicer shall, on behalf of the Trustee, prepare and file on a timely basis with the MI Insurer, with a copy to the Trustee, Insurer all claims that may be made under the MI Policy with respect to the MI Mortgage Loans. Consistent with all rights and obligations hereunder, the Servicer shall take all actions required under the MI Policy as a condition to the payment of any such claim. Any amount received from the MI Insurer with respect to any MI Mortgage Loan shall be deposited by the Servicer, no later than two Business Days following receipt thereof, into the Collection Account.

MI Policies, Claims Under the MI Policies. (a) Notwithstanding anything to the contrary elsewhere in this Agreement, the Servicer shall not agree to any modification or assumption of a MI Mortgage Loan or take any other action with respect to an MI Mortgage Loan that could result in denial of coverage under the MI Policy. The Servicer shall notify the MI Insurer that the Trustee, on behalf of the Certificateholders, is the "Insured," as that term is defined in the related MI Policy, of each MI Mortgage Loan insured by the MI Insurer; provided, that such designation is made solely for the purpose of entitling the Trust Fund to receive payments for claims under the MI Policy and the Trustee shall not, except as provided herein, be deemed to assume the obligations of the "Insured" thereunder. The Servicer shall, on behalf of the Trustee, prepare and file on a timely basis with the MI Insurer, with a copy to the Trustee, all claims that may be made under the MI Policy with respect to the MI Mortgage Loans. Consistent with all rights and obligations hereunder, the Servicer shall take all actions required under the MI Policy as a condition to the payment of any such claim. Any amount received from the MI Insurer with respect to any MI Mortgage Loan shall be deposited by the Servicer, no later than two Business Days following receipt thereof, into the Collection Account.such

MI Policies, Claims Under the MI Policies. (a) Notwithstanding anything to the contrary elsewhere in this Agreement, the Servicer shall not agree to any modification or assumption of a MI Mortgage Loan or take any other action with respect to an MI Mortgage Loan that could result in denial of coverage under the MI Policy. The Servicer shall notify the MI Insurer that the Trustee, on behalf of the Certificateholders, is the "Insured," as that term is defined in the related MI Policy, of each MI Mortgage Loan insured by the MI Insurer; provided, that such designation is made solely for the purpose of entitling the Trust Fund to receive payments for claims under the MI Policy and the Trustee shall not, except as provided herein, be deemed to assume the obligations of the "Insured" thereunder. The Servicer shall, on behalf of the Trustee, prepare and file on a timely basis with the MI Insurer, with a copy to the Trustee, all claims that may be made under the MI Policy with respect to the MI Mortgage Loans. Consistent with all rights and obligations hereunder, the Servicer shall take all actions required under the MI Policy as a condition to the payment of any such claim. Any amount received from the MI Insurer with respect to any MI Mortgage Loan shall be deposited by the Servicer, no later than two Business Days following receipt thereof, into the Collection Account.