Common use of Monitoring of the Servicers Clause in Contracts

Monitoring of the Servicers. (a) The Master Servicer shall be responsible for monitoring the compliance by Ocwen and Wxxxx Fargo with their duties under this Agreement and SPS with its duties under the Servicing Agreement. In the review of the related Servicer’s activities, the Master Servicer may rely upon an officer’s certificate of the related Servicer with regard to such Servicer’s compliance with the terms of this Agreement or the Servicing Agreement, as applicable. In the event that the Master Servicer, in its judgment, determines that a Servicer should be terminated in accordance with the terms hereof or the terms of the Servicing Agreement or that a notice should be sent pursuant to the terms hereof or the terms of the Servicing Agreement with respect to the occurrence of an event that, unless cured, would constitute a Servicer Event of Default, or an event of default under the Servicing Agreement, the Master Servicer shall notify the related Servicer, the Sponsor and the Trustee thereof and (i) with respect to Ocwen or SPS, the Master Servicer shall issue such notice or take such other action as it deems appropriate and (ii) with respect to Wxxxx Fargo, the Trustee shall issue such notice or take such other action as it deems appropriate.

Monitoring of the Servicers. (a) The Master Servicer shall be responsible for monitoring the compliance by Ocwen and Wxxxx Xxxxx Fargo with their duties under this Agreement and SPS and WMMSC with its their duties under the related Servicing Agreement. In the review of the related Servicer’s activities, the Master Servicer may rely upon an officer’s certificate of the related Servicer with regard to such Servicer’s compliance with the terms of this Agreement or the related Servicing Agreement, as applicable. In the event that the Master ServicerServicer or, in the case of Xxxxx Fargo, the Trustee, in its judgment, determines that a Servicer should be terminated in accordance with the terms hereof or the terms of the related Servicing Agreement or that a notice should be sent pursuant to the terms hereof or the terms of the related Servicing Agreement with respect to the occurrence of an event that, unless cured, would constitute a Servicer Event of Default, or an event of default under the related Servicing Agreement, either the Master Servicer or, in the case of Xxxxx Fargo, the Trustee shall notify the related Servicer, the Sponsor Seller and the Trustee thereof and (i) with respect to Ocwen or SPS, the Master Servicer shall issue such notice or take such other action as it deems appropriate and (ii) with respect to Wxxxx Fargo, the Trustee shall issue such notice or take such other action as it deems appropriate.

Monitoring of the Servicers. (a) The Master Servicer shall be responsible for monitoring the compliance by Ocwen and Wxxxx Xxxxx Fargo with their duties under this Agreement and SPS WAMU with its duties under the Servicing Agreement. In the review of the related Servicer’s activities, the Master Servicer may rely upon an officer’s certificate of the related Servicer with regard to such Servicer’s compliance with the terms of this Agreement or the Servicing Agreement, as applicable. In the event that the Master Servicer, in its judgment, determines that a Servicer should be terminated in accordance with the terms hereof or the terms of the Servicing Agreement or that a notice should be sent pursuant to the terms hereof or the terms of the Servicing Agreement with respect to the occurrence of an event that, unless cured, would constitute a Servicer Event of Default, or an event of default under the Servicing Agreement, the Master Servicer shall notify the related Servicer, the Sponsor Seller and the Trustee thereof and (i) with respect to Ocwen or SPS, the Master Servicer shall issue such notice or take such other action as it deems appropriate and (ii) with respect to Wxxxx Fargo, the Trustee shall issue such notice or take such other action as it deems appropriate.

Monitoring of the Servicers. (a) The Master Servicer shall be responsible for monitoring the compliance by Ocwen and Wxxxx Xxxxx Fargo with their duties under this Agreement and SPS with its duties under the Servicing Agreement. In the review of the related Servicer’s activities, the Master Servicer may rely upon an officer’s certificate of the related Servicer with regard to such Servicer’s compliance with the terms of this Agreement or the Servicing Agreement, as applicable. In the event that the Master Servicer, in its judgment, determines that a Servicer should be terminated in accordance with the terms hereof or the terms of the Servicing Agreement or that a notice should be sent pursuant to the terms hereof or the terms of the Servicing Agreement with respect to the occurrence of an event that, unless cured, would constitute a Servicer Event of Default, or an event of default under the Servicing Agreement, the Master Servicer shall notify the related Servicer, the Sponsor and the Trustee thereof and (i) with respect to Ocwen or SPS, the Master Servicer shall issue such notice or take such other action as it deems appropriate and (ii) with respect to Wxxxx Xxxxx Fargo, the Trustee shall issue such notice or take such other action as it deems appropriate.