Common use of Possession of Certain Insurance Policies and Documents Clause in Contracts

Possession of Certain Insurance Policies and Documents. Until all amounts distributable in respect of the Certificates have been distributed in full and the Master Servicer otherwise has fulfilled its obligations under this Agreement, the Trustee shall retain, or the Custodian as agent of the Trustee shall retain, possession and custody of each Mortgage File in accordance with and subject to the terms and conditions of this Agreement and the Custodial Agreement. The Master Servicer shall promptly deliver or cause to be delivered to the Trustee upon the execution or receipt thereof such documents or instruments that constitute portions of the Mortgage File that come into the possession of the Master Servicer from time to time. The Master Servicer shall retain possession and custody of the originals (to the extent available) of any Primary Mortgage Insurance Policies, or certificate of insurance if applicable, and any certificates of renewal as to the foregoing as may be issued from time to time.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Bsabs 2005-1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2005-3), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2005-2)

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