Common use of Mortgage Loans, Trust Estate and Accounts Held for Benefit of the Note Insurer Clause in Contracts

Mortgage Loans, Trust Estate and Accounts Held for Benefit of the Note Insurer. (a) The Indenture Trustee shall hold the Trust Estate and the Indenture Trustee's Mortgage Files, for the benefit of the Noteholders and the Note Insurer, and all references in this Agreement and in the Notes to the benefit of Noteholders shall be deemed to include the Note Insurer. The Indenture Trustee shall cooperate in all reasonable respects with any reasonable request by the Note Insurer for action to preserve or enforce the Note Insurer's rights or interests under this Agreement and the Notes unless, as stated in an Opinion of Counsel addressed to the Indenture Trustee and the Note Insurer, such action is adverse to the interests of the Noteholders or diminishes the rights of the Noteholders or imposes additional burdens or restrictions on the Noteholders. (b) The Servicer hereby acknowledges and agrees that it shall service the Mortgage Loans for the benefit of the Noteholders and for the benefit of the Note Insurer, and all references in this Agreement to the benefit of or actions on behalf of the Noteholders shall be deemed to include the Note Insurer.

Appears in 13 contracts

Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp), Sale and Servicing Agreement (Prudential Securities Secured Financing Corp), Sale and Servicing Agreement (American Business Financial Services Inc /De/)

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Mortgage Loans, Trust Estate and Accounts Held for Benefit of the Note Insurer. (a) The Indenture Trustee shall hold the Trust Estate and the Indenture Trustee's Mortgage Files, for the benefit of the Noteholders and the Note Insurer, and all references in this Agreement Agreement, the Notes and in any of the Notes other Basic Documents to the benefit of Noteholders shall be deemed to include the Note Insurer. The Indenture Trustee shall cooperate in all reasonable respects with any reasonable request by the Note Insurer for action to preserve or enforce the Note Insurer's rights or interests under this Agreement and Agreement, the Notes and in any of the Basic Documents unless, as stated in an Opinion of Counsel addressed to the Indenture Trustee and the Note Insurer, such action is adverse to the interests of the Noteholders or diminishes the rights of the Noteholders or imposes additional burdens or restrictions on the Noteholders. (b) The Master Servicer hereby acknowledges and agrees that it shall service the Mortgage Loans for the benefit of the Noteholders and for the benefit of the Note Insurer, and all references in this Agreement and in any of the other Basic Documents to the benefit of or actions on behalf of the Noteholders shall be deemed to include the Note Insurer.

Appears in 8 contracts

Samples: Sale and Servicing Agreement (Accredited Home Lenders Accredited Mort Loan Trust 2002-2), Sale and Servicing Agreement (Accredited Home Lenders Accredited Mort Loan Trust 2002-2), Sale and Servicing Agreement (Accredited Mort Loan Trust Asset Back Notes Series 2003-1)

Mortgage Loans, Trust Estate and Accounts Held for Benefit of the Note Insurer. (a) The Indenture Trustee shall hold the Trust Estate and the Indenture Trustee's ’s Mortgage Files, for the benefit of the Noteholders and the Note Insurer, and all references in this Agreement Agreement, the Notes and in any of the Notes other Basic Documents to the benefit of Noteholders shall be deemed to include the Note Insurer. The Indenture Trustee shall cooperate in all reasonable respects with any reasonable request by the Note Insurer for action to preserve or enforce the Note Insurer's ’s rights or interests under this Agreement and Agreement, the Notes and in any of the Basic Documents unless, as stated in an Opinion of Counsel addressed to the Indenture Trustee and the Note Insurer, such action is adverse to the interests of the Noteholders or diminishes the rights of the Noteholders or imposes additional burdens or restrictions on the Noteholders. (b) The Master Servicer hereby acknowledges and agrees that it shall service the Mortgage Loans for the benefit of the Noteholders and for the benefit of the Note Insurer, and all references in this Agreement and in any of the other Basic Documents to the benefit of or actions on behalf of the Noteholders shall be deemed to include the Note Insurer.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Accredited Mortgage Loan Trust 2003-3), Sale and Servicing Agreement (Accredited Mortgage Loan Trust 2004-2), Sale and Servicing Agreement (Accredited Mortgage Loan Trust 2003-2)

Mortgage Loans, Trust Estate and Accounts Held for Benefit of the Note Insurer. (a) The Indenture Trustee shall hold the Trust Estate and the Indenture Trustee's ’s Mortgage Files, for the benefit of the Noteholders and the Note Insurer, and all references in this Agreement Agreement, the Notes and in any of the Notes other Basic Documents to the benefit of Noteholders shall be deemed to include the Note Insurer. The Indenture Trustee shall cooperate in all reasonable respects with any reasonable request by the Note Insurer for action to preserve or enforce the Note Insurer's ’s rights or interests under this Agreement and Agreement, the Notes and in any of the Basic Documents unless, as stated in an Opinion of Counsel addressed to the Indenture Trustee and the Note Insurer, such action is adverse to the interests of the Noteholders or diminishes the rights of the Noteholders or imposes additional burdens or restrictions on the Noteholders. (b) The Servicer hereby acknowledges and agrees that it shall service the Mortgage Loans for the benefit of the Noteholders and for the benefit of the Note Insurer, and all references in this Agreement and in any of the other Basic Documents to the benefit of or actions on behalf of the Noteholders shall be deemed to include the Note Insurer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Accredited Mortgage Loan REIT Trust), Sale and Servicing Agreement (Accredited Mortgage Loan REIT Trust)

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Mortgage Loans, Trust Estate and Accounts Held for Benefit of the Note Insurer. (a) The Indenture Trustee shall hold the Trust Estate and shall cause the Collateral Agent on its behalf to hold the Indenture Trustee's Mortgage Files, for the benefit of the Noteholders and the Note Insurer, and all references in this Agreement and in the Notes to the benefit of Noteholders shall be deemed to include the Note Insurer. The Indenture Trustee shall cooperate in all reasonable respects with any reasonable request by the Note Insurer for action to preserve or enforce the Note Insurer's rights or interests under this Agreement and the Notes unless, as stated in an Opinion of Counsel addressed to the Indenture Trustee and the Note Insurer, such action is adverse to the interests of the Noteholders or diminishes the rights of the Noteholders or imposes additional burdens or restrictions on the Noteholders. (b) The Servicer hereby acknowledges and agrees that it shall service the Mortgage Loans for the benefit of the Noteholders and for the benefit of the Note Insurer, and all references in this Agreement to the benefit of or actions on behalf of the Noteholders shall be deemed to include the Note Insurer.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Sale and Servicing Agreement (Morgan Stanley Abs Capital I Inc)

Mortgage Loans, Trust Estate and Accounts Held for Benefit of the Note Insurer. (a) The Indenture Trustee shall hold the Trust Estate and the Indenture Trustee's Mortgage Files, for the benefit of the Noteholders Noteholder and the Note Insurer, and all references in this Agreement and in the Notes Note to the benefit of Noteholders Noteholder shall be deemed to include the Note Insurer. The Indenture Trustee shall cooperate in all reasonable respects with any reasonable request by the Note Insurer for action to preserve or enforce the Note Insurer's rights or interests under this Agreement and the Notes Note unless, as stated in an Opinion of Counsel addressed to the Indenture Trustee and the Note Insurer, such action is adverse to materially and adversely affects the interests of the Noteholders or diminishes Noteholder (taking into account the rights of the Noteholders or imposes additional burdens or restrictions on the NoteholdersNote Insurance Policy). (b) The Servicer hereby acknowledges and agrees that it shall service the Mortgage Loans for the benefit of the Noteholders Noteholder and for the benefit of the Note Insurer, and all references in this Agreement to the benefit of or actions on behalf of the Noteholders Noteholder shall be deemed to include the Note Insurer.. 57

Appears in 1 contract

Samples: Sale and Servicing Agreement (American Business Financial Services Inc /De/)

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