Primary Servicer Responsibilities Sample Clauses

Primary Servicer Responsibilities. Each Primary Servicer will be responsible, on behalf of and for the benefit of each Trust for which the Primary Servicer services Mortgage Loans, to service the related Mortgage Loans pursuant to Accepted Servicing Practices.‌ If and to the extent that the Special Servicer or Subservicer servicing a Mortgage Loan or REO Property is different from the Primary Servicer, the servicing duties described in this Subsection 5.1(3) that are assigned to that Special Servicer or Subservicer in the Servicing Contract will be performed by the Special Servicer or Subservicer, as applicable. Primary servicing will be performed by Primary Servicers engaged by contract with the Master Servicer or by Subservicers engaged by contract between a Subservicer and a Primary Servicer or the Master Servicer. If a Primary Servicer is terminated or resigns before a replacement Primary Servicer can be engaged, the Master Servicer may engage (or act as) Primary Servicer to perform such services.
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Primary Servicer Responsibilities. Each Primary Servicer will be responsible, on behalf of and for the benefit of each Trust for which the Primary Servicer services Mortgage Loans, to service the related Mortgage Loans pursuant to Accepted Servicing Practices, which responsibilities may include the following: (a) service the related Mortgage Loans in accordance with Sections 5.2 through 5.11, including without limitation: (i) collect payments on the Mortgage Loans as provided in Section 5.3 and deposit payments of principal and interest on those Mortgage Loans as provided in Section 6.1; (ii) make any Servicing Advances required by its Servicing Contract; (iii) waive, forbear and modify provisions of the Mortgage Loans to the extent provided in Subsection 5.3(3); (iv) process releases, additions and substitutions of Mortgaged Property, Defeasance Securities or Supplemental Collateral, including in connection with Defeasance; (v) enforce Due-on-Transfer Provisions as and to the extent provided in Section 5.8, subject to the exceptions in Subsection 5.8(2) and Section 5.9; and (vi) foreclose or otherwise realize upon defaulted Mortgage Loans as provided in Section 5.10. (b) retain possession of Supplemental Collateral, guaranty contracts and other security for the Mortgage Loans; (c) pay all expenses incurred by it in connection with its servicing activities with respect to the Mortgage Loans; (d) pay the Guaranty Fee to the Guarantor; and (e) establish and maintain Custodial Accounts as provided in Section 6.1. If and to the extent that the Special Servicer or Subservicer servicing a Mortgage Loan or REO Property is different from the Primary Servicer, the servicing duties described in this Subsection 5.1(3) that are assigned to that Special Servicer or Subservicer in the Servicing Contract will be performed by the Special Servicer or Subservicer, as applicable. Primary servicing will be performed by Primary Servicers engaged by contract with the Master Servicer or by Subservicers engaged by contract between a Subservicer and a Primary Servicer or the Master Servicer. If a Primary Servicer is terminated or resigns before a replacement Primary Servicer can be engaged, the Master Servicer may engage (or act as) Primary Servicer to perform such services.
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Primary Servicer Responsibilities. Each Guarantor shall be responsible for the following administration and servicing obligations which shall be performed by the Borrower on behalf of the Guarantors until such time as the Lender shall exercise its rights under Section 5.11.(a):
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Related to Primary Servicer Responsibilities

  • Provider Responsibilities The Private Child-Caring Facility (PCC) (a.k.a., Provider) must comply with the following requirements:

  • Owner Responsibilities Owner shall: A. Provide all documentation, records and disclosures as required by law or required by Broker to manage and operate the Property, and immediately notify Broker if Owner becomes aware of any change in such documentation, records or disclosures, or any matter affecting the habitability of the Property. B. Indemnify, defend and hold harmless Broker, and all persons in Broker's firm, regardless of responsibility, from all costs, expenses, suits, liabilities, damages, attorney fees and claims of every type, including but not limited to those arising out of injury or death of any person, or damage to any real or personal property of any person, including Owner, for: (i) any repairs performed by Owner or by others hired directly by Owner; or (ii) those relating to the management, leasing, rental, security deposits, or operation of the Property by Broker, or any person in Broker's firm, or the performance or exercise of any of the duties, powers or authorities granted to Broker. C. Maintain the Property in a condition fit for human habitation as required by West Virginia statute § 37-6-30. D. Carry and pay for: (i) public and premises liability insurance in an amount of no less than $1,000,000; and (ii) property damage and worker's compensation insurance adequate to protect the interests of Owner and Broker. Broker shall be, and Owner authorizes Broker to be, named as an additional insured party on Owner's policies. E. Pay any late charges, penalties and/or interest imposed by lenders or other parties for failure to make payment to those parties, if the failure is due to insufficient funds in Broker's trust account available for such payment. F. Immediately replace any funds required if there are insufficient funds in Broker's trust account to cover Owner's responsibilities.

  • Employer Responsibilities Recognizing the inherent risk(s) in a correctional setting, the Employer is obligated to provide a safe workplace and to educate employees on proper safety procedures and use of protective and safety equipment. The Employer is committed to responding to legitimate safety concerns raised by the Union and employees. The Employer will comply with federal and state safety standards, including requirements relating to first aid training, first aid equipment and the use of protective devices and equipment.

  • Customer Responsibilities Notwithstanding the above, Customer agrees that except as provided by this DPA, Customer is responsible for its secure use of the Services, including securing its account authentication credentials, protecting the security of Customer Data when in transit to and from the Services and taking any appropriate steps to securely encrypt or backup any Customer Data uploaded to the Services.

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