Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the Closing Date hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the Seller, the Depositor, the Master Servicer and the Trustee. Upon discovery by any of the Servicer, the Master Servicer, the Depositor, the NIMS Insurer or the Seller of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, the priority of the security interest on such Mortgaged Property or the interest of the Seller, the Depositor, the Master Servicer or the NIMS Insurer, the party discovering such breach shall give prompt written notice to the others.
Appears in 55 contracts
Samples: Servicing Agreement (Structured Asset Investment Loan Trust 2005-7), Subservicing Agreement (Structured Asset Investment Loan Trust 2006-1), Subservicing Agreement (Structured Adjustable Rate Mortgage Loan Trust 2005-6xs)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the related Closing Date or Servicing Transfer Date, as applicable, hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer and the Trustee. Upon discovery by any of either the Servicer, the Master Servicer, the Depositor, the NIMS Insurer or the Seller Trustee of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest interests of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer or the NIMS InsurerTrustee, the party discovering such breach shall give prompt written notice to the othersother.
Appears in 33 contracts
Samples: Securitization Subservicing Agreement (Structured Asset Investment Loan Trust 2004-6), Securitization Subservicing Agreement (Structured Asset Investment Loan Trust 2005-2), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc1)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the related Closing Date or Servicing Transfer Date, as applicable, hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer and the Trustee. Upon discovery by any of either the Servicer, the Master Servicer, the Depositor, Servicer or the NIMS Insurer or the Seller of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest interests of the Seller, the Depositor, the Master Servicer or the NIMS Insurer, the party discovering such breach shall give prompt written notice to the othersother.
Appears in 25 contracts
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc11), Securitization Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Ce Se 2003-Bc12), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-1)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the Closing Date hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer and the Trustee. Upon discovery by any of either the Servicer, the Master Servicer, the Depositor, the NIMS Insurer or the Seller Trustee of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest interests of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer or the NIMS InsurerTrustee, the party discovering such breach shall give prompt written notice to the othersother.
Appears in 22 contracts
Samples: Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2004-6), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-He3), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-10)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the any Closing Date hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the Seller, the any Depositor, the Master Servicer and the each Trust and Trustee. Upon discovery by any of the Servicer, the Master Servicer, the DepositorTrustee, the NIMS Insurer any Depositor or the Seller of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer Servicer, together with its designated sub-servicer, to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Securitized Loans, the Mortgaged Property, the priority of the security interest on such Mortgaged Property or the interest of the Seller, the any Depositor, the Master Servicer Servicer, the related Trust or the NIMS Insurerrelated Trustee, the party discovering such breach shall give prompt written notice to the others.
Appears in 20 contracts
Samples: Servicing Agreement (Thornburg Mortgage Securities Trust 2007-2), Servicing Agreement (Thornburg Mortgage Securities Trust 2004-2), Servicing Agreement (Structured Asset Securities Corp Thorn Mort Sec Tr 2003-3)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the Closing Date or Servicing Transfer Date, as applicable, hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the Seller, the Depositor, the Master Servicer each Seller (with respect to its related Mortgage Loans) and the Trustee. Upon discovery by any of either the Servicer, the Master Servicer, the Depositor, the NIMS Insurer Servicer or the either Seller of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest of the Seller, the Depositor, the Master Servicer either Seller (with respect to its related Mortgage Loans) or the NIMS InsurerTrustee, the party discovering such breach shall give prompt written notice to the othersother.
Appears in 14 contracts
Samples: Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Ce Se 2002 17), Servicing Agreement (Structured Asset Sec Corp Mort Ps THR Certs Ser 2003-8), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-15)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the Closing Date hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the Seller, the Depositor, the Master Servicer Servicer, the NIMS Insurer and the Trustee. Upon discovery by any of either the Servicer, the Seller, the Depositor, the Master Servicer, the Depositor, the NIMS Insurer or the Seller Trustee of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest interests of the Seller, the Depositor, the Master Servicer Servicer, the NIMS Insurer or the NIMS InsurerTrustee, the party discovering such breach shall give prompt written notice to the othersother.
Appears in 11 contracts
Samples: Securitization Servicing Agreement (BNC CORP Mortgage Loan Trust 2007-Bnc4), Securitization Servicing Agreement (Structured Asset Securities CORP 2007-Bc1), Securitization Servicing Agreement (BNC Mortgage Loan Trust 2007-2)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the Closing Date or Servicing Transfer Date, as applicable, hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the Seller, the Depositor, the Master Servicer Seller and the Trustee. Upon discovery by any of either the Servicer, the Master Servicer, either Seller, the Depositor, Depositor or the NIMS Insurer or the Seller of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest of the Seller, the Depositor, the Master Servicer either Seller (with respect to its related Mortgage Loans) or the NIMS InsurerTrustee, the party discovering such breach shall give prompt written notice to the othersother.
Appears in 9 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2002-Bc8), Servicing Agreement (Structured Asset Securities Corp), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc2)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the Closing Date or Servicing Transfer Date, as applicable, hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the Seller, the Depositor, the Master Servicer Seller and the Trustee. Upon discovery by any of either the Servicer, the Master Servicer, the DepositorSeller, the Depositor or the NIMS Insurer or the Seller of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest of the Seller, the Depositor, the Master Servicer Seller or the NIMS InsurerTrustee, the party discovering such breach shall give prompt written notice to the othersother.
Appears in 8 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-S2), Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc3), Servicing Agreement (Structured Asset Inv Loan Tr Mort Pass-THR Cert Ser 2004-1)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the related Closing Date or applicable Servicing Transfer Date, as applicable, hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer and the Trustee. Upon discovery by any of the Servicer, the Master Servicer, the Depositor, the NIMS Insurer or the Seller Trustee of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest interests of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer or the NIMS InsurerTrustee, the party discovering such breach shall give prompt written notice to the othersother.
Appears in 8 contracts
Samples: Securitization Servicing Agreement (Lehman XS Trust Series 2006-Gp1), Securitization Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Ar7), Securitization Servicing Agreement (Lehman XS Trust Series 2006-Gp4)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the Closing Date or Servicing Transfer Date, as applicable, hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the Seller, the DepositorMaster Servicer, the Master Servicer Depositor and the Trustee. Upon discovery by any of either the Servicer, the Master Servicer, the DepositorSeller, the Depositor or the NIMS Insurer or the Seller of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest of the Seller, the Depositor, the Master Servicer Seller or the NIMS InsurerTrustee, the party discovering such breach shall give prompt written notice to the othersother.
Appears in 8 contracts
Samples: Servicing Agreement (BNC Mortgage Loan Trust 2006-1), Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Bc2), Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Bc3)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the related Closing Date or Servicing Transfer Date, as applicable, hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer and the Trustee. Upon discovery by any of the Servicer, the Master Servicer, the Depositor, the NIMS Insurer or the Seller Trustee of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest interests of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer or the NIMS InsurerTrustee, the party discovering such breach shall give prompt written notice to the othersother.
Appears in 7 contracts
Samples: Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-He2), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-He3), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2004-7)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the Closing Date hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the Seller, the Depositor, the Master Servicer and the Trustee. Upon discovery by any of the Servicer, the Master Servicer, the Trustee, the Depositor, the NIMS Insurer or the Seller of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, the priority of the security interest on such Mortgaged Property or the interest of the Seller, the Depositor, the Master Servicer Servicer, the NIMS Insurer or the NIMS InsurerTrustee, the party discovering such breach shall give prompt written notice to the others.
Appears in 3 contracts
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc7), Servicing Agreement (Amoritizing Residential Col Tr Mor Pas Thru Cer Ser 2002-Bc6), Servicing Agreement (Structured Asset Securities Corp)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the Closing Date or Servicing Transfer Date, as applicable, hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer and the Trustee. Upon discovery by any of the Servicer, the Master Servicer, the Depositor, the NIMS Insurer or the Seller Trustee of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest interests of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer or the NIMS InsurerTrustee, the party discovering such breach shall give prompt written notice to the othersother.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (Aames Mortgage Tr Mort Pas Thru Cert Sers 2003-1), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Ser 2003 S1)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the Closing Date or related Servicing Transfer Date, as applicable, hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer and the Trustee. Upon discovery by any of either the Servicer, the Master Servicer, the Depositor, the NIMS Insurer or the Seller Trustee of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest interests of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer or the NIMS InsurerTrustee, the party discovering such breach shall give prompt written notice to the othersother.
Appears in 2 contracts
Samples: Securitization Subservicing Agreement (Structured Asset Investment Loan Trust 2004-Bnc2), Securitization Subservicing Agreement (Structured Asset Investment Loan Trust 2004-Bnc1)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the related Closing Date hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer and the Trustee. Upon discovery by any of the Servicer, the Master Servicer, the Depositor, the NIMS Insurer or the Seller Trustee of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest interests of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer or the NIMS InsurerTrustee, the party discovering such breach shall give prompt written notice to the othersother.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (Fremont Home Loan Trust 2004-3), Securitization Servicing Agreement (Lehman XS 2007-4n)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the related Closing Date or Servicing Transfer Date, as applicable, hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the SellerMaster Servicer, the Depositor, the Master Servicer Issuer and the Indenture Trustee. Upon discovery by any of the Servicer, the Master Servicer, the Depositor, the NIMS Insurer Servicer or the Seller Indenture Trustee of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest interests of the SellerMaster Servicer, the Depositor, the Master Servicer Issuer or the NIMS InsurerIndenture Trustee, the party discovering such breach shall give prompt written notice to the othersother.
Appears in 1 contract
Samples: Securitization Subservicing Agreement (Sasco Mortgage Loan Trust Series 2004-Gel2)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the Closing Date or Servicing Transfer Date, as applicable, hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the Seller, the Depositor, the Master Servicer each Seller (with respect to its related Mortgage Loans) and the Trustee. Upon discovery by any of either the Servicer, the Master Servicer, the Depositor, the NIMS Insurer Servicer or the either Seller of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest of the Seller, the Depositor, the Master Servicer either Seller (with respect to its related Mortgage Loans) or the NIMS InsurerTrustee, the party discovering such breach shall give prompt written notice to the others.other. Within 60 days of the earlier of either discovery by or notice to the Servicer of any breach of a representation or warranty set forth in Section 6.01 which materially and adversely
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Series 2003-7h)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of from and after the related Closing Date or Servicing Transfer Date, as applicable, hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer and the Trustee. Upon discovery by any of either the Servicer, the Master Servicer, the Depositor, Servicer or the NIMS Insurer or the Seller of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest interests of the Seller, the Depositor, the Master Servicer or the NIMS Insurer, the party discovering such breach shall give prompt written notice to the othersother.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2003-Bc2)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the any Closing Date hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the Seller, the any Depositor, the Master Servicer and the each Trust, Certificate Insurer and Trustee. Upon discovery by any of the Servicer, the Master Servicer, the DepositorTrustee, the NIMS Insurer Certificate Insurer, any Depositor or the Seller of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Securitized Loans, the Mortgaged Property, the priority of the security interest on such Mortgaged Property or the interest of the Seller, the any Depositor, the Master Servicer Servicer, Certificate Insurer, the related Trust or the NIMS Insurerrelated Trustee, the party discovering such breach shall give prompt written notice to the others.
Appears in 1 contract
Samples: Servicing Agreement (MASTR Alternative Loan Trust 2006-3)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the Closing Date and each Servicing Transfer Date hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer and the Trustee. Upon discovery by any of either the Servicer, the Master Servicer, the Depositor, the NIMS Insurer or the Seller Trustee of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, Property or the priority of the security interest on such Mortgaged Property or the interest interests of the SellerMaster Servicer, the Depositor, the Master Servicer NIMS Insurer or the NIMS InsurerTrustee, the party discovering such breach shall give prompt written notice to the othersother.
Appears in 1 contract
Samples: Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2004-Bnc1)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the Closing Date hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the Seller, the Depositor, the Master Servicer and the Trustee. Upon discovery by any of the Servicer, the Master Servicer, the Depositor, the NIMS Insurer or the Seller of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, the priority of the security interest on such Mortgaged Property or the interest of either the Seller, the Depositor, the Master Servicer or the NIMS Insurer, the party discovering such breach shall give prompt written notice to the others.
Appears in 1 contract
Samples: Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc4)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the any Closing Date hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the Seller, the any Depositor, the Master Servicer and the each Trust and Trustee. Upon discovery by any of the Servicer, the Master Servicer, the DepositorTrustee, the NIMS Insurer any Depositor or the Seller of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer Servicer, together with its designated sub-servicer, to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Securitized Loans, the Mortgaged Property, the priority of the security interest on such Mortgaged Property or the interest of the Seller, the any Depositor, the Master Servicer Servicer, the Trust or the NIMS InsurerTrustee, the party discovering such breach shall give prompt written notice to the others.
Appears in 1 contract
Samples: Servicing Agreement (Thornburg Mortgage Securities Trust 2007-4)
Remedies for Breach of Representations and Warranties of the Servicer. It is understood and agreed that the representations and warranties set forth in Section 6.01 shall survive the engagement of the Servicer to perform the servicing responsibilities as of the Closing Date hereunder and the delivery of the Servicing Files to the Servicer and shall inure to the benefit of the Seller, the Depositor, the Master Servicer and the Trustee. Upon discovery by any of the Servicer, the Master Servicer, the Depositor, the NIMS Insurer or the Seller of a breach of any of the foregoing representations and warranties which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or otherwise materially and adversely affects the value of the Mortgage Loans, the Mortgaged Property, the priority of the security interest on such Mortgaged Property or the interest of the Seller, the Depositor, the Master Servicer or the NIMS Insurer, the party discovering such breach shall give prompt written notice to the others.. Within 60 days of the earlier of either discovery by or notice to the Servicer of a breach of a representation or warranty set forth in Section 6.01 which materially and adversely affects the ability of the Servicer to perform its duties and obligations under this Agreement or
Appears in 1 contract
Samples: Subservicing Agreement (Structured Asset Investment Loan Trust Series 2004-11)
