Common use of Non-Approved Servicer Clause in Contracts

Non-Approved Servicer. Any Claim arising from a Loan for which the Servicer, at time of Default or thereafter, is not approved by the Company as described in Section 3.4; provided that this exclusion shall not apply if the Company has notified the Insured in writing under Section 3.4(b) that a Servicer is no longer approved and if within ninety (90) days thereafter the Insured completed a transfer of servicing to a new Servicer approved by the Company.

Non-Approved Servicer. Any Claim arising from a Loan for which occurring when the Servicer, at time of Default or thereafter, is not approved in writing or in a list published by the Company as described in Section 3.4Company; provided that this exclusion shall not only apply if the Company has notified notifies the Insured Owner of the Loan in writing under Section 3.4(b) that a Servicer is no longer approved and if within ninety (90) days thereafter the Insured completed Owner does not complete a transfer of servicing to a new Servicer approved by the Company.