Servicer Compliance Statement. (a) The Servicer shall, on or before March 1st, but in no event later than March 15th, of each calendar year, commencing in 2007, at its own expense, deliver to the Seller, the NIMS Insurer, the Trustee, the Depositor and the Master Servicer with respect to the year ending on the immediately preceding December 31, a statement of compliance addressed to the Seller, NIMS Insurer, Trustee, Depositor and Master Servicer in the form of Exhibit J hereto, signed by an authorized officer of the Servicer to the effect that (i) a review of the activities of the Servicer during such preceding calendar year (or applicable portion thereof) and of its performance under this Agreement for such period has been made under such Servicing Officer’s supervision and (ii) to the best of such officers’ knowledge, based on such review, the Servicer has fulfilled all of its obligations under this Agreement in all material respects throughout such year (or applicable portion thereof), or, if there has been a failure to fulfill any such obligation in any material respect, specifically identifying each such failure known to such Servicing Officer and the nature and status thereof including the steps being taken by the Servicer to remedy such default. (b) For so long as a certificate under the Xxxxxxxx-Xxxxx Act of 2002, as amended, (“Xxxxxxxx-Xxxxx”) is required to be given on behalf of the Trust Fund, on or before March 1st, but in no event later than March 15th of each calendar year, (or if not a Business Day, the immediately preceding Business Day), beginning with March 1, 2007, a Servicing Officer shall execute and deliver an Officer’s Certificate to the Master Servicer, the Trustee and the Depositor for the benefit of the Trust Fund and the Master Servicer, the Trustee and the Depositor and their officers, directors and affiliates, in the form of Exhibit F hereto. (c) The Servicer shall indemnify and hold harmless the Seller, the NIMS Insurer, the Trustee, the Master Servicer, the Depositor and their respective officers, directors, agents and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses arising out of or based upon a breach by the Servicer or any of its officers, directors, agents or affiliates of its obligations under this Section 5.03 or the negligence, bad faith or willful misconduct of the Servicer in connection therewith. If the indemnification provided for herein is unavailable or insufficient to hold harmless the Master Servicer and/or the Depositor, then the Servicer agrees that it shall contribute to the amount paid or payable by the Master Servicer and/or the Depositor as a result of the losses, claims, damages or liabilities of the Master Servicer and/or the Depositor in such proportion as is appropriate to reflect the relative fault of the Master Servicer and/or the Depositor on the one hand and the Servicer on the other in connection with a breach of the Servicer’s obligations under this Section 5.03 or the Servicer’s negligence, bad faith or willful misconduct in connection therewith.
Appears in 5 contracts
Samples: Subservicing Agreement (Sasco 2006-Bc2), Subservicing Agreement (Sasco 2006-Bc3), Subservicing Agreement (Sasco 2006-Bc4)
Servicer Compliance Statement. (a) The Servicer shall, on On or before March 1st, but in no event later than March 15th, 1st of each calendar year, commencing in beginning with March 1, 2007, the Servicer, at its own expense, will deliver to the Seller, the NIMS Insurer, the Trustee, the Depositor and the Master Servicer with respect to the year period ending on the immediately preceding December 31, a statement of compliance addressed to the Seller, NIMS Insurer, Trustee, Depositor and Master Servicer Servicing Officer’s certificate in the form of Exhibit J K hereto, signed by an authorized officer of the Servicer stating, as to the effect each signer thereof, that (i1) a review of the activities of the Servicer during such preceding calendar year (or applicable portion thereof) thereof and of its performance under this Agreement for such period has been made under such Servicing Officer’s supervision and (ii2) to the best of such officers’ knowledge, based on such review, the Servicer has fulfilled all of its obligations under this Agreement in all material respects throughout such year (or applicable portion thereof), or, if there has been a failure to fulfill any such obligation in any material respect, specifically identifying each such failure known to such Servicing Officer and the nature and status thereof thereof, including the steps being taken by the Servicer to remedy such default.
(b) For so long as a certificate under the XxxxxxxxSxxxxxxx-Xxxxx Act of 2002, as amended, (“XxxxxxxxSxxxxxxx-Xxxxx”) is required to be given on behalf of the Trust Fund, on or before March 1st, but in no event later than March 15th 1st of each calendar year, year (or if not a Business Day, the immediately preceding Business Day), beginning with March 1, 2007, a Servicing Officer shall execute and deliver an Officer’s Certificate to the Master Servicer, the Trustee and the Depositor for the benefit of the Trust Fund and the Master Servicer, the Trustee and the Depositor and their officers, directors and affiliates, in the form of Exhibit F E hereto.
(c) The Servicer shall indemnify and hold harmless the Seller, the NIMS Insurer, the Trustee, the Master Servicer, the Depositor and their respective officers, directors, agents and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses arising out of or based upon a breach by the Servicer or any of its officers, directors, agents or affiliates of its obligations under this Section 5.03 5.05 or the negligence, bad faith or willful misconduct of the Servicer in connection therewith. If the indemnification provided for herein is unavailable or insufficient to hold harmless the Master Servicer and/or the Depositor, then the Servicer agrees that it shall contribute to the amount paid or payable by the Master Servicer and/or the Depositor as a result of the losses, claims, damages or liabilities of the Master Servicer and/or the Depositor in such proportion as is appropriate to reflect the relative fault of the Master Servicer and/or the Depositor on the one hand and the Servicer on the other in connection with a breach of the Servicer’s obligations under this Section 5.03 5.05 or the Servicer’s negligence, bad faith or willful misconduct in connection therewith.
Appears in 4 contracts
Samples: Securitization Servicing Agreement (First Franklin Mortgage Loan Trust 2006-Ff15), Securitization Servicing Agreement (First Franklin Mortgage Loan Trust 2006-Ff14), Securitization Servicing Agreement (First Franklin Mortgage Loan Trust 2006-Ff17)
Servicer Compliance Statement. (a) The Servicer shall, on On or before March 1st, but in no event later than March 15th, 1st of each calendar year, commencing in beginning with March 1, 2007, the Servicer, at its own expense, will deliver to the Seller, the NIMS Insurer, the Trustee, the Depositor Depositor, the Securities Administrator and the Master Servicer with respect to the year period ending on the immediately preceding December 31, a statement of compliance addressed to the Seller, NIMS Insurer, Trustee, Depositor and Master Servicer Servicing Officer’s certificate substantially in the form of Exhibit J K hereto, signed by an authorized officer of the Servicer stating, as to the effect each signer thereof, that (i1) a review of the activities of the Servicer during such preceding calendar year (or applicable portion thereof) thereof and of its performance under this Agreement for such period has been made under such Servicing Officer’s supervision and (ii2) to the best of such officers’ knowledge, based on such review, the Servicer has fulfilled all of its obligations under this Agreement in all material respects throughout such year (or applicable portion thereof), or, if there has been a failure to fulfill any such obligation in any material respect, specifically identifying each such failure known to such Servicing Officer and the nature and status thereof including the steps being taken by the Servicer to remedy such defaultthereof.
(b) For so long as a certificate under the Xxxxxxxx-Xxxxx Act of 2002, as amended, (“Xxxxxxxx-Xxxxx”) is required to be given on behalf of the Trust Fund, on or before March 1st, but in no event later than March 15th 1st of each calendar year, year (or if not a Business Day, the immediately preceding Business Day), beginning with March 1, 2007, a Servicing Officer shall execute and deliver an Officer’s Certificate to the Master Servicer, the Trustee Trustee, the Securities Administrator and the Depositor for the benefit of the Trust Fund and the Master Servicer, the Trustee and the Depositor and their officers, directors and affiliates, substantially and materially in the form of Exhibit F E hereto.
(c) The Servicer shall indemnify and hold harmless the Seller, the NIMS Insurer, the Trustee, the Master Servicer, the Depositor and their respective officers, directors, agents and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses solely and directly arising out of or based upon a breach by the Servicer or any of its officers, directors, agents or affiliates of its obligations under this Section 5.03 5.05. Notwithstanding the provisions set forth in this Agreement, the Servicer shall not be obligated to provide any indemnification or the negligence, bad faith or willful misconduct reimbursement hereunder to any of the Servicer parties described in connection therewith. If the indemnification provided Section 5.05 or any other party for herein is unavailable or insufficient to hold harmless the Master Servicer and/or the Depositor, then the Servicer agrees that it shall contribute to the amount paid or payable by the Master Servicer and/or the Depositor as a result of the any losses, claimsdamages, damages penalties, fines, forfeitures, legal fees and expenses and related costs, judgments, and any other costs, fees and expenses that any of them may sustain which are indirect, consequential, punitive or liabilities of the Master Servicer and/or the Depositor special in such proportion as is appropriate to reflect the relative fault of the Master Servicer and/or the Depositor on the one hand and the Servicer on the other in connection with a breach of the Servicer’s obligations under this Section 5.03 or the Servicer’s negligence, bad faith or willful misconduct in connection therewithnature.
Appears in 4 contracts
Samples: Securitization Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2006-Bc6), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2006-4), Securitization Servicing Agreement (Sail 2006-Bnc2)
Servicer Compliance Statement. (a) The Servicer shall, on On or before March 1st, but in no event later than March 15th, 1st of each calendar year, commencing in 2007beginning with March 1, 2008, the Servicer, at its own expense, will deliver to the Seller, the NIMS Insurer, the Trustee, the Depositor and the Master Servicer with respect to the year period ending on the immediately preceding December 31, a statement of compliance addressed to the Seller, NIMS Insurer, Trustee, Depositor and Master Servicer Servicing Officer’s certificate substantially in the form of Exhibit J K hereto, signed by an authorized officer of the Servicer stating, as to the effect each signer thereof, that (i1) a review of the activities of the Servicer during such preceding calendar year (or applicable portion thereof) thereof and of its performance under this Agreement for such period has been made under such Servicing Officer’s supervision and (ii2) to the best of such officers’ knowledge, based on such review, the Servicer has fulfilled all of its obligations under this Agreement in all material respects throughout such year (or applicable portion thereof), or, if there has been a failure to fulfill any such obligation in any material respect, specifically identifying each such failure known to such Servicing Officer and the nature and status thereof including the steps being taken by the Servicer to remedy such defaultthereof.
(b) For so long as a certificate under the Xxxxxxxx-Xxxxx Act of 2002, as amended, (“Xxxxxxxx-Xxxxx”) is required to be given on behalf of the Trust Fund, on or before March 1st, but in no event later than March 15th 1st of each calendar year, year (or if not a Business Day, the immediately preceding Business Day), beginning with March 1, 20072008, a Servicing Officer shall execute and deliver an Officer’s Certificate to the Master Servicer, the Trustee and the Depositor for the benefit of the Trust Fund and the Master Servicer, the Trustee and the Depositor and their officers, directors and affiliates, substantially and materially in the form of Exhibit F E hereto.
(c) The Servicer shall indemnify and hold harmless the Seller, the NIMS Insurer, the Trustee, the Master Servicer, the Depositor and their respective officers, directors, agents and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses solely and directly arising out of or based upon a breach by the Servicer or any of its officers, directors, agents or affiliates of its obligations under this Section 5.03 5.05. Notwithstanding the provisions set forth in this Agreement, the Servicer shall not be obligated to provide any indemnification or the negligence, bad faith or willful misconduct reimbursement hereunder to any of the Servicer parties described in connection therewith. If the indemnification provided Section 5.05 or any other party for herein is unavailable or insufficient to hold harmless the Master Servicer and/or the Depositor, then the Servicer agrees that it shall contribute to the amount paid or payable by the Master Servicer and/or the Depositor as a result of the any losses, claimsdamages, damages penalties, fines, forfeitures, legal fees and expenses and related costs, judgments, and any other costs, fees and expenses that any of them may sustain which are indirect, consequential, punitive or liabilities of the Master Servicer and/or the Depositor special in such proportion as is appropriate to reflect the relative fault of the Master Servicer and/or the Depositor on the one hand and the Servicer on the other in connection with a breach of the Servicer’s obligations under this Section 5.03 or the Servicer’s negligence, bad faith or willful misconduct in connection therewithnature.
Appears in 3 contracts
Samples: Securitization Servicing Agreement (Sasco 2007-Bnc1), Securitization Servicing Agreement (BNC Mortgage Loan Trust 2007-3), Securitization Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Osi)
Servicer Compliance Statement. (a) The Servicer shall, on On or before March 1st, but in no event later than March 15th, 1st of each calendar year, commencing in 2007beginning with March 1, 2009, the Servicer, at its own expense, will deliver to the Seller, the NIMS Insurer, the Trustee, the Depositor and the Master Servicer with respect to the year period ending on the immediately preceding December 31, a statement of compliance addressed to the Seller, NIMS Insurer, Trustee, Depositor and Master Servicer Servicing Officer’s certificate substantially in the form of Exhibit J K hereto, signed by an authorized officer of the Servicer stating, as to the effect each signer thereof, that (i1) a review of the activities of the Servicer during such preceding calendar year (or applicable portion thereof) thereof and of its performance under this Agreement for such period has been made under such Servicing Officer’s supervision and (ii2) to the best of such officers’ knowledge, based on such review, the Servicer has fulfilled all of its obligations under this Agreement in all material respects throughout such year (or applicable portion thereof), or, if there has been a failure to fulfill any such obligation in any material respect, specifically identifying each such failure known to such Servicing Officer and the nature and status thereof including the steps being taken by the Servicer to remedy such defaultthereof.
(b) For so long as a certificate under the Xxxxxxxx-Xxxxx Act of 2002, as amended, (“Xxxxxxxx-Xxxxx”) is required to be given on behalf of the Trust Fund, on or before March 1st, but in no event later than March 15th 1st of each calendar year, year (or if not a Business Day, the immediately preceding Business Day), beginning with March 1, 20072009, a Servicing Officer shall execute and deliver an Officer’s Certificate to the Master Servicer, the Trustee and the Depositor for the benefit of the Trust Fund and the Master Servicer, the Trustee and the Depositor and their officers, directors and affiliates, substantially and materially in the form of Exhibit F E hereto.
(c) The Servicer shall indemnify and hold harmless the Seller, the NIMS Insurer, the Trustee, the Master Servicer, the Depositor and their respective officers, directors, agents and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses solely and directly arising out of or based upon a breach by the Servicer or any of its officers, directors, agents or affiliates of its obligations under this Section 5.03 5.05. Notwithstanding the provisions set forth in this Agreement, the Servicer shall not be obligated to provide any indemnification or the negligence, bad faith or willful misconduct reimbursement hereunder to any of the Servicer parties described in connection therewith. If the indemnification provided Section 5.05 or any other party for herein is unavailable or insufficient to hold harmless the Master Servicer and/or the Depositor, then the Servicer agrees that it shall contribute to the amount paid or payable by the Master Servicer and/or the Depositor as a result of the any losses, claimsdamages, damages penalties, fines, forfeitures, legal fees and expenses and related costs, judgments, and any other costs, fees and expenses that any of them may sustain which are indirect, consequential, punitive or liabilities of the Master Servicer and/or the Depositor special in such proportion as is appropriate to reflect the relative fault of the Master Servicer and/or the Depositor on the one hand and the Servicer on the other in connection with a breach of the Servicer’s obligations under this Section 5.03 or the Servicer’s negligence, bad faith or willful misconduct in connection therewithnature.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Bc4), Securitization Servicing Agreement (BNC CORP Mortgage Loan Trust 2007-Bnc4)
Servicer Compliance Statement. (a) The Servicer shall, on On or before March 1st, but in no event later than March 15th, 1st of each calendar year, commencing in beginning with March 1, 2007, the Servicer, at its own expense, will deliver to the Seller, the NIMS Insurer, the Trustee, the Depositor and the Master Servicer with respect to the year period ending on the immediately preceding December 31, a statement of compliance addressed to the Seller, NIMS Insurer, Trustee, Depositor and Master Servicer Servicing Officer’s certificate in the form of Exhibit J K hereto, signed by an authorized officer of the Servicer stating, as to the effect each signer thereof, that (i1) a review of the activities of the Servicer during such preceding calendar year (or applicable portion thereof) thereof and of its performance under this Agreement for such period has been made under such Servicing Officer’s supervision and (ii2) to the best of such officers’ knowledge, based on such review, the Servicer has fulfilled all of its obligations under this Agreement in all material respects throughout such year (or applicable portion thereof), or, if there has been a failure to fulfill any such obligation in any material respect, specifically identifying each such failure known to such Servicing Officer and the nature and status thereof thereof, including the steps being taken by the Servicer to remedy such default.
(b) For so long as a certificate under the Xxxxxxxx-Xxxxx Act of 2002, as amended, (“Xxxxxxxx-Xxxxx”) is required to be given on behalf of the Trust Fund, on or before March 1st, but in no event later than March 15th 1st of each calendar year, year (or if not a Business Day, the immediately preceding Business Day), beginning with March 1, 2007, a Servicing Officer shall execute and deliver an Officer’s Certificate to the Master Servicer, the Trustee and the Depositor for the benefit of the Trust Fund and the Master Servicer, the Trustee and the Depositor and their officers, directors and affiliates, in the form of Exhibit F E hereto.
(c) The Servicer shall indemnify and hold harmless the Seller, the NIMS Insurer, the Trustee, the Master Servicer, the Depositor and their respective officers, directors, agents and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses arising out of or based upon a breach by the Servicer or any of its officers, directors, agents or affiliates of its obligations under this Section 5.03 5.05 or the negligence, bad faith or willful misconduct of the Servicer in connection therewith. If the indemnification provided for herein is unavailable or insufficient to hold harmless the Master Servicer and/or the Depositor, then the Servicer agrees that it shall contribute to the amount paid or payable by the Master Servicer and/or the Depositor as a result of the losses, claims, damages or liabilities of the Master Servicer and/or the Depositor in such proportion as is appropriate to reflect the relative fault of the Master Servicer and/or the Depositor on the one hand and the Servicer on the other in connection with a breach of the Servicer’s obligations under this Section 5.03 5.05 or the Servicer’s negligence, bad faith or willful misconduct in connection therewith.
Appears in 2 contracts
Samples: Securitization Servicing Agreement (First Franklin Mortgage Loan Trust 2006-Ff12), Securitization Servicing Agreement (First Franklin Mortgage Loan Trust 2006-Ff10)
Servicer Compliance Statement. (a) The Servicer shall, on On or before March 1st, but in no event later than March 15th, 1st of each calendar year, commencing in 2007beginning with March 1, 2008, the Servicer, at its own expense, will deliver to the Seller, the NIMS Insurer, the Trustee, the Depositor Depositor, the Securities Administrator and the Master Servicer with respect to the year period ending on the immediately preceding December 31, a statement of compliance addressed to the Seller, NIMS Insurer, Trustee, Depositor and Master Servicer Servicing Officer’s certificate substantially in the form of Exhibit J K hereto, signed by an authorized officer of the Servicer stating, as to the effect each signer thereof, that (i1) a review of the activities of the Servicer during such preceding calendar year (or applicable portion thereof) thereof and of its performance under this Agreement for such period has been made under such Servicing Officer’s supervision and (ii2) to the best of such officers’ knowledge, based on such review, the Servicer has fulfilled all of its obligations under this Agreement in all material respects throughout such year (or applicable portion thereof), or, if there has been a failure to fulfill any such obligation in any material respect, specifically identifying each such failure known to such Servicing Officer and the nature and status thereof including the steps being taken by the Servicer to remedy such defaultthereof.
(b) For so long as a certificate under the XxxxxxxxSxxxxxxx-Xxxxx Act of 2002, as amended, (“XxxxxxxxSxxxxxxx-Xxxxx”) is required to be given on behalf of the Trust Fund, on or before March 1st, but in no event later than March 15th 1st of each calendar year, year (or if not a Business Day, the immediately preceding Business Day), beginning with March 1, 20072008, a Servicing Officer shall execute and deliver an Officer’s Certificate to the Master Servicer, the Trustee Trustee, the Securities Administrator and the Depositor for the benefit of the Trust Fund and the Master Servicer, the Trustee Trustee, the Securities Administrator and the Depositor and their officers, directors and affiliates, substantially and materially in the form of Exhibit F E hereto.
(c) The Servicer shall indemnify and hold harmless the Seller, the NIMS Insurer, the Trustee, the Master Servicer, the Depositor Depositor, the Securities Administrator and their respective officers, directors, agents and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses solely and directly arising out of or based upon a breach by the Servicer or any of its officers, directors, agents or affiliates of its obligations under this Section 5.03 5.05. Notwithstanding the provisions set forth in this Agreement, the Servicer shall not be obligated to provide any indemnification or the negligence, bad faith or willful misconduct reimbursement hereunder to any of the Servicer parties described in connection therewith. If the indemnification provided Section 5.05 or any other party for herein is unavailable or insufficient to hold harmless the Master Servicer and/or the Depositor, then the Servicer agrees that it shall contribute to the amount paid or payable by the Master Servicer and/or the Depositor as a result of the any losses, claimsdamages, damages penalties, fines, forfeitures, legal fees and expenses and related costs, judgments, and any other costs, fees and expenses that any of them may sustain which are indirect, consequential, punitive or liabilities of the Master Servicer and/or the Depositor special in such proportion as is appropriate to reflect the relative fault of the Master Servicer and/or the Depositor on the one hand and the Servicer on the other in connection with a breach of the Servicer’s obligations under this Section 5.03 or the Servicer’s negligence, bad faith or willful misconduct in connection therewithnature.
Appears in 1 contract
Samples: Securitization Servicing Agreement (BNC Mortgage Loan Trust 2007-1)
Servicer Compliance Statement. (a) The Servicer shall, on On or before March 1st, but in no event later than March 15th, 1st of each calendar year, commencing in 2007beginning with March 1, 2008, the Servicer, at its own expense, will deliver to the Seller, the NIMS Insurer, the Trustee, the Depositor Depositor, the Securities Administrator and the Master Servicer with respect to the year period ending on the immediately preceding December 31, a statement of compliance addressed to the Seller, NIMS Insurer, Trustee, Depositor and Master Servicer Servicing Officer’s certificate substantially in the form of Exhibit J K hereto, signed by an authorized officer of the Servicer stating, as to the effect each signer thereof, that (i1) a review of the activities of the Servicer during such preceding calendar year (or applicable portion thereof) thereof and of its performance under this Agreement for such period has been made under such Servicing Officer’s supervision and (ii2) to the best of such officers’ knowledge, based on such review, the Servicer has fulfilled all of its obligations under this Agreement in all material respects throughout such year (or applicable portion thereof), or, if there has been a failure to fulfill any such obligation in any material respect, specifically identifying each such failure known to such Servicing Officer and the nature and status thereof including the steps being taken by the Servicer to remedy such defaultthereof.
(b) For so long as a certificate under the Xxxxxxxx-Xxxxx Act of 2002, as amended, (“Xxxxxxxx-Xxxxx”) is required to be given on behalf of the Trust Fund, on or before March 1st, but in no event later than March 15th 1st of each calendar year, year (or if not a Business Day, the immediately preceding Business Day), beginning with March 1, 20072008, a Servicing Officer shall execute and deliver an Officer’s Certificate to the Master Servicer, the Trustee Trustee, the Securities Administrator and the Depositor for the benefit of the Trust Fund and the Master Servicer, the Trustee Trustee, the Securities Administrator and the Depositor and their officers, directors and affiliates, substantially and materially in the form of Exhibit F E hereto.
(c) The Servicer shall indemnify and hold harmless the Seller, the NIMS Insurer, the Trustee, the Master Servicer, the Depositor Depositor, the Securities Administrator and their respective officers, directors, agents and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses solely and directly arising out of or based upon a breach by the Servicer or any of its officers, directors, agents or affiliates of its obligations under this Section 5.03 5.05. Notwithstanding the provisions set forth in this Agreement, the Servicer shall not be obligated to provide any indemnification or the negligence, bad faith or willful misconduct reimbursement hereunder to any of the Servicer parties described in connection therewith. If the indemnification provided Section 5.05 or any other party for herein is unavailable or insufficient to hold harmless the Master Servicer and/or the Depositor, then the Servicer agrees that it shall contribute to the amount paid or payable by the Master Servicer and/or the Depositor as a result of the any losses, claimsdamages, damages penalties, fines, forfeitures, legal fees and expenses and related costs, judgments, and any other costs, fees and expenses that any of them may sustain which are indirect, consequential, punitive or liabilities of the Master Servicer and/or the Depositor special in such proportion as is appropriate to reflect the relative fault of the Master Servicer and/or the Depositor on the one hand and the Servicer on the other in connection with a breach of the Servicer’s obligations under this Section 5.03 or the Servicer’s negligence, bad faith or willful misconduct in connection therewithnature.
Appears in 1 contract
Samples: Securitization Servicing Agreement (BNC Mortgage Loan Trust 2007-2)
Servicer Compliance Statement. (a) The Servicer shall, on On or before March 1st, but in no event later than March 15th, 1st of each calendar year, commencing in beginning with March 1, 2007, the Servicer, at its own expense, will deliver to the Seller, the NIMS Insurer, the Trustee, the Depositor and the Master Servicer with respect to the year period ending on the immediately preceding December 31, a statement of compliance addressed to the Seller, NIMS Insurer, Trustee, Depositor and Master Servicer Servicing Officer’s certificate in the form of Exhibit J K hereto, signed by an authorized officer of the Servicer stating, as to the effect each signer thereof, that (i1) a review of the activities of the Servicer during such preceding calendar year (or applicable portion thereof) thereof and of its performance under this Agreement for such period has been made under such Servicing Officer’s supervision and (ii2) to the best of such officers’ knowledge, based on such review, the Servicer has fulfilled all of its obligations under this Agreement in all material respects throughout such year (or applicable portion thereof), or, if there has been a failure to fulfill any such obligation in any material respect, specifically identifying each such failure known to such Servicing Officer and the nature and status thereof thereof, including the steps being taken by the Servicer to remedy such default.
(b) For so long as a certificate under the XxxxxxxxSarxxxxx-Xxxxx Act Xxt of 2002, as amended, (“XxxxxxxxSarxxxxx-Xxxxx”) is required to be given on behalf of the Trust Fund, on or before March 1st, but in no event later than March 15th 1st of each calendar year, year (or if not a Business Day, the immediately preceding Business Day), beginning with March 1, 2007, a Servicing Officer shall execute and deliver an Officer’s Certificate to the Master Servicer, the Trustee and the Depositor for the benefit of the Trust Fund and the Master Servicer, the Trustee and the Depositor and their officers, directors and affiliates, in the form of Exhibit F E hereto.
(c) The Servicer shall indemnify and hold harmless the Seller, the NIMS Insurer, the Trustee, the Master Servicer, the Depositor and their respective officers, directors, agents and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses arising out of or based upon a breach by the Servicer or any of its officers, directors, agents or affiliates of its obligations under this Section 5.03 5.05 or the negligence, bad faith or willful misconduct of the Servicer in connection therewith. If the indemnification provided for herein is unavailable or insufficient to hold harmless the Master Servicer and/or the Depositor, then the Servicer agrees that it shall contribute to the amount paid or payable by the Master Servicer and/or the Depositor as a result of the losses, claims, damages or liabilities of the Master Servicer and/or the Depositor in such proportion as is appropriate to reflect the relative fault of the Master Servicer and/or the Depositor on the one hand and the Servicer on the other in connection with a breach of the Servicer’s obligations under this Section 5.03 5.05 or the Servicer’s negligence, bad faith or willful misconduct in connection therewith.
Appears in 1 contract
Samples: Securitization Servicing Agreement (First Franklin Mortgage Loan Trust 2006-Ffa)
Servicer Compliance Statement. (a) The Servicer shall, on On or before March 1st, but in no event later than March 15th, 1st of each calendar year, commencing in beginning with March 1, 2007, the Servicer, at its own expense, will deliver to the Seller, the NIMS Insurer, the Trustee, the Depositor Depositor, the Securities Administrator and the Master Servicer with respect to the year ending on the immediately preceding December 31, a statement of compliance addressed to the Seller, NIMS Insurer, Trustee, Depositor and Master Servicer substantially in the form of Exhibit J K hereto, signed by an authorized officer of the Servicer to the effect that (i1) a review of the activities of the Servicer during such preceding calendar year (or applicable portion thereof) thereof and of its performance under this Agreement for such period has been made under such Servicing Officer’s supervision and (ii2) to the best of such officers’ knowledge, based on such review, the Servicer has fulfilled all of its obligations under this Agreement in all material respects throughout such year (or applicable portion thereof), or, if there has been a failure to fulfill any such obligation in any material respect, specifically identifying each such failure known to such Servicing Officer and the nature and status thereof including the steps being taken by the Servicer to remedy such defaultthereof.
(b) For so long as a certificate under the Xxxxxxxx-Xxxxx Act of 2002, as amended, (“Xxxxxxxx-Xxxxx”) is required to be given on behalf of the Trust Fund, on or before March 1st, but in no event later than March 15th 1st of each calendar year, year (or if not a Business Day, the immediately preceding Business Day), beginning with March 1, 2007, a Servicing Officer shall execute and deliver an Officer’s Certificate to the Master Servicer, the Trustee Trustee, the Securities Administrator and the Depositor for the benefit of the Trust Fund and the Master Servicer, the Trustee and the Depositor and their officers, directors and affiliates, substantially and materially in the form of Exhibit F E hereto.
(c) The Servicer shall indemnify and hold harmless the Seller, the NIMS Insurer, the Trustee, the Master Servicer, the Depositor and their respective officers, directors, agents and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses solely and directly arising out of or based upon a breach by the Servicer or any of its officers, directors, agents or affiliates of its obligations under this Section 5.03 5.05. Notwithstanding the provisions set forth in this Agreement, the Servicer shall not be obligated to provide any indemnification or the negligence, bad faith or willful misconduct reimbursement hereunder to any of the Servicer parties described in connection therewith. If the indemnification provided Section 5.05 or any other party for herein is unavailable or insufficient to hold harmless the Master Servicer and/or the Depositor, then the Servicer agrees that it shall contribute to the amount paid or payable by the Master Servicer and/or the Depositor as a result of the any losses, claimsdamages, damages penalties, fines, forfeitures, legal fees and expenses and related costs, judgments, and any other costs, fees and expenses that any of them may sustain which are indirect, consequential, punitive or liabilities of the Master Servicer and/or the Depositor special in such proportion as is appropriate to reflect the relative fault of the Master Servicer and/or the Depositor on the one hand and the Servicer on the other in connection with a breach of the Servicer’s obligations under this Section 5.03 or the Servicer’s negligence, bad faith or willful misconduct in connection therewithnature.
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Servicer Compliance Statement. (a) The Servicer shall, on On or before March 1st, but in no event later than March 15th, 1st of each calendar year, commencing in 2007beginning with March 1, 2008, the Servicer, at its own expense, will deliver to the Seller, the NIMS Insurer, the Trustee, the Depositor and the Master Servicer and the Securities Administrator with respect to the year period ending on the immediately preceding December 31, a statement of compliance addressed to the Seller, NIMS Insurer, Trustee, Depositor and Master Servicer Servicing Officer’s certificate substantially in the form of Exhibit J K hereto, signed by an authorized officer of the Servicer stating, as to the effect each signer thereof, that (i1) a review of the activities of the Servicer during such preceding calendar year (or applicable portion thereof) thereof and of its performance under this Agreement for such period has been made under such Servicing Officer’s supervision and (ii2) to the best of such officers’ knowledge, based on such review, the Servicer has fulfilled all of its obligations under this Agreement in all material respects throughout such year (or applicable portion thereof), or, if there has been a failure to fulfill any such obligation in any material respect, specifically identifying each such failure known to such Servicing Officer and the nature and status thereof including the steps being taken by the Servicer to remedy such defaultthereof.
(b) For so long as a certificate under the XxxxxxxxSxxxxxxx-Xxxxx Act of 2002, as amended, (“XxxxxxxxSxxxxxxx-Xxxxx”) is required to be given on behalf of the Trust Fund, on or before March 1st, but in no event later than March 15th 1st of each calendar year, year (or if not a Business Day, the immediately preceding Business Day), beginning with March 1, 20072008, a Servicing Officer shall execute and deliver an Officer’s Certificate to the Master Servicer, the Trustee Trustee, the Securities Administrator and the Depositor for the benefit of the Trust Fund and the Master Servicer, the Trustee and the Depositor and their officers, directors and affiliates, substantially and materially in the form of Exhibit F E hereto.
(c) The Servicer shall indemnify and hold harmless the Seller, the NIMS Insurer, the Trustee, the Master Servicer, the Depositor and their respective officers, directors, agents and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses solely and directly arising out of or based upon a breach by the Servicer or any of its officers, directors, agents or affiliates of its obligations under this Section 5.03 5.05. Notwithstanding the provisions set forth in this Agreement, the Servicer shall not be obligated to provide any indemnification or the negligence, bad faith or willful misconduct reimbursement hereunder to any of the Servicer parties described in connection therewith. If the indemnification provided Section 5.05 or any other party for herein is unavailable or insufficient to hold harmless the Master Servicer and/or the Depositor, then the Servicer agrees that it shall contribute to the amount paid or payable by the Master Servicer and/or the Depositor as a result of the any losses, claimsdamages, damages penalties, fines, forfeitures, legal fees and expenses and related costs, judgments, and any other costs, fees and expenses that any of them may sustain which are indirect, consequential, punitive or liabilities of the Master Servicer and/or the Depositor special in such proportion as is appropriate to reflect the relative fault of the Master Servicer and/or the Depositor on the one hand and the Servicer on the other in connection with a breach of the Servicer’s obligations under this Section 5.03 or the Servicer’s negligence, bad faith or willful misconduct in connection therewithnature.
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Samples: Securitization Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Bc3)
Servicer Compliance Statement. (a) The For so long as the trust created by this Agreement is subject to the reporting requirements of the Exchange Act, the Applicable Servicer shall, on or before March 1st, but in no event later than March 15th, 15 of each calendar year, commencing in 2007, at its own expense2008, deliver to the Seller, the NIMS InsurerMaster Servicer, the Trustee, Securities Administrator and the Depositor and the Master Servicer with respect to the year ending on the immediately preceding December 31, a statement of compliance addressed to the Seller, NIMS Insurerthe Master Servicer, Trustee, the Securities Administrator and the Depositor and Master Servicer in the form of Exhibit J hereto, signed by an authorized officer of the Servicer Applicable Servicer, to the effect that (i) a review of the Applicable Servicer’s activities of during the Servicer during such immediately preceding calendar year (or applicable portion thereof) and of its performance under this Agreement for and any applicable Mortgage Loan Purchase Agreement during such period has been made under such Servicing Officerofficer’s supervision supervision, and (ii) to the best of such officers’ officer’s knowledge, based on such review, the Applicable Servicer has fulfilled all of its obligations under this Agreement and any applicable Mortgage Loan Purchase Agreement in all material respects throughout such calendar year (or applicable portion thereof), ) or, if there has been a failure to fulfill any such obligation in any material respect, specifically identifying each such failure known to such Servicing Officer officer and the nature and the status thereof including the steps being taken by the Servicer to remedy such default.
thereof; and (b) For so long as a certificate under if the Xxxxxxxx-Xxxxx Act of 2002, as amended, (“Xxxxxxxx-Xxxxx”) trust created by this Agreement is required no longer subject to be given on behalf the reporting requirements of the Trust Fund, on or before March 1st, but in no event later than March 15th of each calendar year, (or if not a Business DayExchange Act, the immediately preceding Business Day), beginning with March 1, 2007, Applicable Servicer shall deliver the statement described in the foregoing clause (a) or a Servicing Officer shall execute and deliver an Officer’s Certificate to portion thereof as mutually agreed by the Master Servicer, the Trustee Applicable Servicer and the Depositor for annually until such trust terminates in accordance with the benefit terms of the Trust Fund and the Master Servicer, the Trustee and the Depositor and their officers, directors and affiliates, in the form of Exhibit F heretothis Agreement.
(c) The Servicer shall indemnify and hold harmless the Seller, the NIMS Insurer, the Trustee, the Master Servicer, the Depositor and their respective officers, directors, agents and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses arising out of or based upon a breach by the Servicer or any of its officers, directors, agents or affiliates of its obligations under this Section 5.03 or the negligence, bad faith or willful misconduct of the Servicer in connection therewith. If the indemnification provided for herein is unavailable or insufficient to hold harmless the Master Servicer and/or the Depositor, then the Servicer agrees that it shall contribute to the amount paid or payable by the Master Servicer and/or the Depositor as a result of the losses, claims, damages or liabilities of the Master Servicer and/or the Depositor in such proportion as is appropriate to reflect the relative fault of the Master Servicer and/or the Depositor on the one hand and the Servicer on the other in connection with a breach of the Servicer’s obligations under this Section 5.03 or the Servicer’s negligence, bad faith or willful misconduct in connection therewith.
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Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2007-He1)
Servicer Compliance Statement. (a) The Servicer shall, on On or before March 1st, but in no event later than March 15th, 1st of each calendar year, commencing in 2007beginning with March 1, 2008, the Servicer, at its own expense, will deliver to the Seller, the NIMS Insurer, the Trustee, the Depositor and the Master Servicer with respect to the year period ending on the immediately preceding December 31, a statement of compliance addressed to the Seller, NIMS Insurer, Trustee, Depositor and Master Servicer Servicing Officer’s certificate substantially in the form of Exhibit J K hereto, signed by an authorized officer of the Servicer stating, as to the effect each signer thereof, that (i1) a review of the activities of the Servicer during such preceding calendar year (or applicable portion thereof) thereof and of its performance under this Agreement for such period has been made under such Servicing Officer’s supervision and (ii2) to the best of such officers’ knowledge, based on such review, the Servicer has fulfilled all of its obligations under this Agreement in all material respects throughout such year (or applicable portion thereof), or, if there has been a failure to fulfill any such obligation in any material respect, specifically identifying each such failure known to such Servicing Officer and the nature and status thereof including the steps being taken by the Servicer to remedy such defaultthereof.
(b) For so long as a certificate under the XxxxxxxxSxxxxxxx-Xxxxx Act of 2002, as amended, (“XxxxxxxxSxxxxxxx-Xxxxx”) is required to be given on behalf of the Trust Fund, on or before March 1st, but in no event later than March 15th 1st of each calendar year, year (or if not a Business Day, the immediately preceding Business Day), beginning with March 1, 20072008, a Servicing Officer shall execute and deliver an Officer’s Certificate to the Master Servicer, the Trustee and the Depositor for the benefit of the Trust Fund and the Master Servicer, the Trustee and the Depositor and their officers, directors and affiliates, substantially and materially in the form of Exhibit F E hereto.
(c) The Servicer shall indemnify and hold harmless the Seller, the NIMS Insurer, the Trustee, the Master Servicer, the Depositor and their respective officers, directors, agents and affiliates from and against any losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments and other costs and expenses solely and directly arising out of or based upon a breach by the Servicer or any of its officers, directors, agents or affiliates of its obligations under this Section 5.03 5.05. Notwithstanding the provisions set forth in this Agreement, the Servicer shall not be obligated to provide any indemnification or the negligence, bad faith or willful misconduct reimbursement hereunder to any of the Servicer parties described in connection therewith. If the indemnification provided Section 5.05 or any other party for herein is unavailable or insufficient to hold harmless the Master Servicer and/or the Depositor, then the Servicer agrees that it shall contribute to the amount paid or payable by the Master Servicer and/or the Depositor as a result of the any losses, claimsdamages, damages penalties, fines, forfeitures, legal fees and expenses and related costs, judgments, and any other costs, fees and expenses that any of them may sustain which are indirect, consequential, punitive or liabilities of the Master Servicer and/or the Depositor special in such proportion as is appropriate to reflect the relative fault of the Master Servicer and/or the Depositor on the one hand and the Servicer on the other in connection with a breach of the Servicer’s obligations under this Section 5.03 or the Servicer’s negligence, bad faith or willful misconduct in connection therewithnature.
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Samples: Securitization Servicing Agreement (Structured Asset Securities CORP 2007-Bc1)