Common use of Servicers and Subservicers Clause in Contracts

Servicers and Subservicers. (a) Acting directly or through one or more subservicers as provided in Section 8.03, each Servicer, as servicer, shall service and administer the Mortgage Loans identified on the Schedule of Mortgage Loans as being serviced by it as described below and with reasonable care, and using that degree of skill and attention that such Servicer exercises with respect to comparable mortgage loans that it services for itself or others, and shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration which it may deem necessary or desirable. In performing such servicing functions such Servicer shall (i) take into account the mortgagor non-conforming credit quality of the Mortgage Loans, (ii) follow the policies and procedures that it would apply to similar loans held for its own account, unless such policies and procedures are not generally in accordance with standard industry practices, in which case the Servicer shall service the loans generally in accordance with standard industry practices applicable to servicing similar loans, (iii) comply with all applicable laws and follow collection practices with respect to the related Mortgage Loans that are in all material respects legal, proper and prudent, and (iv) subject to its obligation to comply with clauses (i), (ii) and (iii) will not materially change its collection and servicing practices that are in existence as of the Startup Day without the consent of the Seller (such consent not to be unreasonably withheld). (b) The duties of each Servicer shall include the collecting and posting of all payments, responding to inquiries of Mortgagors or by federal, state or local government authorities with respect to the Mortgage Loans, investigating delinquencies, reporting tax information to Mortgagors in accordance with its customary practices and accounting for collections, furnishing monthly statements to the Trustee, the Master Servicer and the Seller with respect to remittances on the Mortgage Loans, advising the Trustee, the Master Servicer and the Seller of the amount of Compensating Interest and Delinquency Advances due as of any Monthly Remittance Date with respect to the Mortgage Loans serviced by it and funding such Compensating Interest and Delinquency Advances, to the extent set forth in this Agreement. Each Servicer shall reasonably cooperate with the Trustee and the Master Servicer. Each Servicer and the Master Servicer shall furnish upon reasonable request to the Trustee with reasonable promptness information in its possession as may be necessary or appropriate to enable the Trustee to perform its tax reporting duties hereunder. (c) The Seller and the Depositor intend that the Upper-Tier REMIC and the Lower-Tier REMIC shall each constitute and that the affairs of Upper-Tier REMIC and the Lower-Tier REMIC shall each be conducted so as to qualify it as a REMIC. In furtherance of such intention, each Servicer covenants and agrees that it shall not knowingly or intentionally take any action or omit to take any action that would cause the termination of the REMIC status of either the Upper-Tier REMIC or the Lower-Tier REMIC or that would subject either the Upper-Tier REMIC or the Lower-Tier REMIC to tax. (d) Each Servicer may, and is hereby authorized to, perform any of its servicing responsibilities with respect to all or certain of the Mortgage Loans through a subservicer as it may from time to time designate in accordance with Section 8.03 but no such designation of a subservicer shall serve to release such Servicer from any of its obligations under this Agreement. Such subservicer shall have all the rights and powers of the relevant Servicer with respect to such Mortgage Loans under this Agreement. (e) Without limiting the generality of the foregoing, but subject to Sections 8.13 and 8.14, each Servicer in its own name or in the name of a subservicer is hereby authorized and empowered and this subsection shall constitute a power of attorney to carry out its servicing and administrative duties hereunder, on behalf of itself, the Owners and the Trust or any of them; to institute foreclosure proceedings or obtain 101 a deed in lieu of foreclosure so as to effect ownership of any Property on behalf of the Trust and to hold title to any Property upon such foreclosure or deed in lieu of foreclosure on behalf of the Trust; provided, however, that Section 8.14(a) and (c) shall constitute a power of attorney from the Trustee to each Servicer with respect to the matters described therein and in accordance with the terms thereof. Subject to Sections 8.13 and 8.14, the Trustee shall furnish any Servicer or any Subservicer with any additional powers of attorney and other documents as such Servicer shall reasonably request to enable such Servicer or any Subservicer to carry out its respective servicing and administrative duties hereunder. (f) Each Servicer shall give prompt notice to the Trustee and the Seller of any action, of which a responsible officer of such Servicer has actual knowledge, seeking to (i) assert a claim against the Trust or (ii) assert control over the Trust or any portion of the Trust Estate. (g) Servicing Advances incurred by any Servicer in connection with the servicing of the Mortgage Loans (including any penalties in connection with the payment of any taxes and assessments or other charges) on any Property shall be recoverable by such Servicer to the extent described in Section 8.09 and in Section 7.03(j) hereof.

Servicers and Subservicers. (a) Acting directly or through one or more subservicers as provided in Section 8.03, each Servicer, as servicer, shall service and administer the Mortgage Loans identified on the Schedule of Mortgage Loans as being serviced by it as described below and with reasonable care, and using that degree of skill and attention that such Servicer exercises with respect to comparable mortgage loans that it services for itself or others, and shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration which it may deem necessary or desirable. In performing such servicing functions such Servicer shall (i) take into account the mortgagor non-conforming credit quality of the Mortgage Loans, (ii) follow the policies and procedures that it would apply to similar loans held for its own account, unless such policies and procedures are not generally in accordance with standard industry practices, in which case the Servicer shall service the loans generally in accordance with standard industry practices applicable to servicing similar loans, (iii) comply with all applicable laws and follow collection practices with respect to the related Mortgage Loans that are in all material respects legal, proper and prudent, and (iv) subject to its obligation to comply with clauses (i), (ii) and (iii) will not materially change its collection and servicing practices that are in existence as of the Startup Day without the consent of the Seller (such consent not to be unreasonably withheld). (b) The duties of each Servicer shall include the collecting and posting of all payments, responding to inquiries of Mortgagors or by federal, state or local government authorities with respect to the Mortgage Loans, investigating delinquencies, reporting tax information to Mortgagors in accordance with its customary practices and accounting for collections, furnishing monthly statements to the Trustee, the Master Servicer Trustee and the Seller with respect to remittances on the Mortgage Loans, advising the Trustee, the Master Servicer and Trustee or the Seller of the amount of Compensating Interest and Delinquency Advances due as of any Monthly Remittance Date with respect to the Mortgage Loans serviced by it and funding such Compensating Interest and Delinquency Advances, to the extent set forth in this Agreement. Each Servicer shall reasonably cooperate with the Trustee and the Master Servicer. Each Servicer and the Master Servicer shall furnish upon reasonable request to the Trustee with reasonable promptness information in its possession as may be necessary or appropriate to enable the Trustee to perform its tax reporting duties hereunder. (c) The Seller and the Depositor intend that the Upper-Tier REMIC and the Lower-Tier REMIC shall each constitute and that the affairs of Upper-Tier REMIC and the Lower-Tier REMIC shall each be conducted so as to qualify it as a REMIC. In furtherance of such intention, each Servicer covenants and agrees that it shall not knowingly or intentionally take any action or omit to take any action that would cause the termination of the REMIC status of either the Upper-Tier REMIC or the Lower-Tier REMIC or that would subject either the Upper-Tier REMIC or the Lower-Tier REMIC to tax. (d) Each Servicer may, and is hereby authorized to, perform any of its servicing responsibilities with respect to all or certain of the Mortgage Loans through a subservicer as it may from time to time designate in accordance with Section 8.03 but no such designation of a subservicer shall serve to release such Servicer from any of its obligations under this Agreement. Such subservicer shall have all the rights and powers of the relevant Servicer with respect to such Mortgage Loans under this Agreement. (e) Without limiting the generality of the foregoing, but subject to Sections 8.13 and 8.14, each Servicer in its own name or in the name of a subservicer is hereby authorized and empowered and this subsection shall constitute a power of attorney to carry out its servicing and administrative duties hereunder, on behalf of itself, the Owners and the Trust or any of them; to institute foreclosure proceedings or obtain 101 a deed in lieu of foreclosure so as to effect ownership of any Property on behalf of the Trust and to hold title to any Property upon such foreclosure or deed in lieu of foreclosure on behalf of the Trust; provided, however, that Section 8.14(a) and (c) shall constitute a power of attorney from the Trustee to each Servicer with respect to the matters described therein and in accordance with the terms thereof. Subject to Sections 8.13 and 8.14, the Trustee shall furnish any Servicer or any Subservicer with any additional powers of attorney and other documents as such Servicer shall reasonably request to enable such Servicer or any Subservicer to carry out its respective servicing and administrative duties hereunder. (f) Each Servicer shall give prompt notice to the Trustee and the Seller of any action, of which a responsible officer of such Servicer has actual knowledge, seeking to (i) assert a claim against the Trust or (ii) assert control over the Trust or any portion of the Trust Estate. (g) Servicing Advances incurred by any Servicer in connection with the servicing of the Mortgage Loans (including any penalties in connection with the payment of any taxes and assessments or other charges) on any Property shall be recoverable by such Servicer to the extent described in Section 8.09 and in Section 7.03(j) hereof.

Servicers and Subservicers. (a) Acting directly or through one or more subservicers as provided in Section 8.03, each Servicer, as servicer, shall service and administer the Mortgage Loans identified on the Schedule of Mortgage Loans as being serviced by it as described below and with reasonable care, and using that degree of skill and attention that such Servicer exercises with respect to comparable mortgage loans that it services for itself or others, and shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration which it may deem necessary or desirable. In performing such servicing functions such Servicer shall (i) take into account the mortgagor non-conforming credit quality of the Mortgage Loans, (ii) follow the policies and procedures that it would apply to similar loans held for its own account, unless such policies and procedures are not generally in accordance with standard industry practices, in which case the Servicer shall service the loans generally in accordance with standard industry practices applicable to servicing similar loans, (iii) comply with all applicable laws and follow collection practices with respect to the related Mortgage Loans that are in all material respects legal, proper and prudent, and (iv) subject to its obligation to comply with clauses (i), (ii) and (iii) will not materially change its collection and servicing practices that are in existence as of the Startup Day without the consent of the Seller (such consent not to be unreasonably withheld). (b) The duties of each Servicer shall include the collecting and posting of all payments, responding to inquiries of Mortgagors or by federal, state or local government authorities with respect to the Mortgage Loans, investigating delinquencies, reporting tax information to Mortgagors in accordance with its customary practices and accounting for collections, furnishing monthly statements to the Trustee, the Master Servicer and the Seller with respect to remittances on the Mortgage Loans, advising the Trustee, the Master Servicer and the Seller of the amount of Compensating Interest and Delinquency Advances due as of any Monthly Remittance Date with respect to the Mortgage Loans serviced by it and funding such Compensating Interest and Delinquency Advances, to the extent set forth in this Agreement. Each Servicer shall reasonably cooperate with the Trustee and the Master Servicer. Each Servicer and the Master Servicer shall furnish upon reasonable request to the Trustee with reasonable promptness information in its possession as may be necessary or appropriate to enable the Trustee to perform its tax reporting duties hereunder. (c) The Seller and the Depositor intend that the Upper-Tier REMIC and the Lower-Tier REMIC shall each constitute and that the affairs of Upper-Tier REMIC and the Lower-Tier REMIC shall each be conducted so as to qualify it as a REMIC. In furtherance of such intention, each Servicer covenants and agrees that it shall not knowingly or intentionally take any action or omit to take any action that would cause the termination of the REMIC status of either the Upper-Tier REMIC or the Lower-Tier REMIC or that would subject either the Upper-Tier REMIC or the Lower-Tier REMIC to tax. (d) Each Servicer may, and is hereby authorized to, perform any of its servicing responsibilities with respect to all or certain of the Mortgage Loans through a subservicer as it may from time to time designate in accordance with Section 8.03 but no such designation of a subservicer shall serve to release such Servicer from any of its obligations under this Agreement. Such subservicer shall have all the rights and powers of the relevant Servicer with respect to such Mortgage Loans under this Agreement. (e) Without limiting the generality of the foregoing, but subject to Sections 8.13 and 8.14, each Servicer in its own name or in the name of a subservicer is hereby authorized and empowered and this subsection shall constitute a power of attorney to carry out its servicing and administrative duties hereunder, on behalf of itself, the Owners and the Trust or any of them; to institute foreclosure proceedings or obtain 101 a deed in lieu of foreclosure so as to effect ownership of any Property on behalf of the Trust and to hold title to any Property upon such foreclosure or deed in lieu of foreclosure on behalf of the Trust; provided, however, that Section 8.14(a) and (c) shall constitute a power of attorney from the Trustee to each Servicer with respect to the matters described therein and in accordance with the terms thereof. Subject to Sections 8.13 and 8.14, the Trustee shall furnish any Servicer or any Subservicer with any additional powers of attorney and other documents as such Servicer shall reasonably request to enable such Servicer or any Subservicer to carry out its respective servicing and administrative duties hereunder. (f) Each Servicer shall give prompt notice to the Trustee and the Seller of any action, of which a responsible officer of such Servicer has actual knowledge, seeking to (i) assert a claim against the Trust or (ii) assert control over the Trust or any portion of the Trust Estate. (g) Servicing Advances incurred by any Servicer in connection with the servicing of the Mortgage Loans (including any penalties in connection with the payment of any taxes and assessments or other charges) on any Property shall be recoverable by such Servicer to the extent described in Section 8.09 and in Section 7.03(j) hereof.

Servicers and Subservicers. (a) Acting directly or through one or more subservicers as provided in Section 8.03, each Servicer, as servicer, shall service and administer the Mortgage Loans identified on the Schedule of Mortgage Loans as being serviced by it as described below and with reasonable care, and using that degree of skill and attention that such Servicer exercises with respect to comparable mortgage loans that it services for itself or others, and shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration which it may deem necessary or desirable. In performing such servicing functions such Servicer shall (i) take into account the mortgagor non-conforming credit quality of the Mortgage Loans, (ii) follow the policies and procedures that it would apply to similar loans held for its own account, unless such policies and procedures are not generally in accordance with standard industry practices, in which case the Servicer shall service the loans generally in accordance with standard industry practices applicable to servicing similar loans, (iii) comply with all applicable laws and follow collection practices with respect to the related Mortgage Loans that are in all material respects legal, proper and prudent, and (iv) subject to its obligation to comply with clauses (i), (ii) and (iii): (A) with regard to Advanta and Long Beach, will not materially change its collection and servicing practices that are in existence as of the Startup Day without the consent of the Seller (such consent not to be unreasonably withheld)) and (B) with regard to Option One will comply with reasonable requests of the Seller including accelerated collection and foreclosure procedures. (b) The duties of each Servicer shall include the collecting and posting of all payments, responding to inquiries of Mortgagors or by federal, state or local government authorities with respect to the Mortgage Loans, investigating delinquencies, reporting tax information to Mortgagors in accordance with its customary practices and accounting for collections, furnishing monthly statements to the Trustee, the Master Servicer Trustee and the Seller with respect to remittances on the Mortgage Loans, advising the Trustee, the Master Servicer and Trustee or the Seller of the amount of Compensating Interest and Delinquency Advances due as of any Monthly Remittance Date with respect to the Mortgage Loans serviced by it and funding such Compensating Interest and Delinquency Advances, to the extent set forth in this Agreement. Each Servicer shall reasonably cooperate with the Trustee and the Master Servicer. Each Servicer and the Master Servicer shall furnish upon reasonable request to the Trustee with reasonable promptness information in its possession as may be necessary or appropriate to enable the Trustee to perform its tax reporting duties hereunder. (c) The Seller and the Depositor intend that the Upper-Tier REMIC and the Lower-Tier REMIC Estate shall each constitute and that the affairs of Upper-Tier REMIC and the Lower-Tier REMIC Estate shall each be conducted so as to qualify it as a REMIC. In furtherance of such intention, each Servicer covenants and agrees that it shall not knowingly or intentionally take any action or omit to take any action that would cause the termination of the REMIC status of either the Upper-Tier REMIC or the Lower-Tier REMIC Estate or that would subject either the Upper-Tier REMIC or the Lower-Tier REMIC Estate to tax. (d) Each Servicer may, and is hereby authorized to, perform any of its servicing responsibilities with respect to all or certain of the Mortgage Loans through a subservicer as it may from time to time designate in accordance with Section 8.03 but no such designation of a subservicer shall serve to release such Servicer from any of its obligations under this Agreement. Such subservicer shall have all the rights and powers of the relevant Servicer with respect to such Mortgage Loans under this Agreement. (e) Without limiting the generality of the foregoing, but subject to Sections 8.13 and 8.14, each Servicer in its own name or in the name of a subservicer is hereby authorized and empowered and this subsection shall constitute a power of attorney to carry out its servicing and administrative duties hereunder, on behalf of itself, the Owners and the Trust or any of them; to institute foreclosure proceedings or obtain 101 a deed in lieu of foreclosure so as to effect ownership of any Property on behalf of the Trust and to hold title to any Property upon such foreclosure or deed in lieu of foreclosure on behalf of the Trust; provided, however, that Section 8.14(a) and (c) shall constitute a power of attorney from the Trustee to each Servicer with respect to the matters described therein and in accordance with the terms thereof. Subject to Sections 8.13 and 8.14, the Trustee shall furnish any Servicer or any Subservicer with any additional powers of attorney and other documents as such Servicer shall reasonably request to enable such Servicer or any Subservicer to carry out its respective servicing and administrative duties hereunder. (f) Each Servicer shall give prompt notice to the Trustee and the Seller of any action, of which a responsible officer of such Servicer has actual knowledge, seeking to (i) assert a claim against the Trust or (ii) assert control over the Trust or any portion of the Trust Estate. (g) Servicing Advances incurred by any Servicer in connection with the servicing of the Mortgage Loans (including any penalties in connection with the payment of any taxes and assessments or other charges) on any Property shall be recoverable by such Servicer to the extent described in Section 8.09 and in Section 7.03(j) hereof.

Servicers and Subservicers. (a) Acting directly or through one or more subservicers as provided in Section 8.03, each Servicer, as servicer, shall service and administer the Mortgage Loans identified on the Schedule of Mortgage Loans as being serviced by it as described below and with reasonable care, and using that degree of skill and attention that such Servicer exercises with respect to comparable mortgage loans that it services for itself or others, and shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration which it may deem necessary or desirable. In performing such servicing functions such Servicer shall (i) take into account the mortgagor non-conforming credit quality of the Mortgage Loans, (ii) follow the policies and procedures that it would apply to similar loans held for its own account, unless such policies and procedures are not generally in accordance with standard industry practices, in which case the Servicer shall service the loans generally in accordance with standard industry practices applicable to servicing similar loans, (iii) comply with all applicable laws and follow collection practices with respect to the related Mortgage Loans that are in all material respects legal, proper and prudent, and (iv) subject to its obligation to comply with clauses (i), (ii) and (iii): (A) with regard to Advanta and Long Beach, will not materially change its collection and servicing practices that are in existence as of the Startup Day without the consent of the Seller (such consent not to be unreasonably withheld)) and (B) with regard to Option One will comply with reasonable requests of the Seller including accelerated collection and foreclosure procedures. (b) The duties of each Servicer shall include the collecting and posting of all payments, responding to inquiries of Mortgagors or by federal, state or local government authorities with respect to the Mortgage Loans, investigating delinquencies, reporting tax information to Mortgagors in accordance with its customary practices and accounting for collections, furnishing monthly statements to the Trustee, the Master Servicer Trustee and the Seller with respect to remittances on the Mortgage Loans, advising the Trustee, the Master Servicer and Trustee or the Seller of the amount of Compensating Interest and Delinquency Advances due as of any Monthly Remittance Date with respect to the Mortgage Loans serviced by it and funding such Compensating Interest and Delinquency Advances, to the extent set forth in this Agreement. Each Servicer shall reasonably cooperate with the Trustee and the Master Servicer. Each Servicer and the Master Servicer shall furnish upon reasonable request to the Trustee with reasonable promptness information in its possession as may be necessary or appropriate to enable the Trustee to perform its tax reporting duties hereunder. (c) The Seller and the Depositor intend that the Upper-Tier REMIC and the Lower-Tier REMIC shall each constitute and that the affairs of Upper-Tier REMIC and the Lower-Tier REMIC shall each be conducted so as to qualify it as a REMIC. In furtherance of such intention, each Servicer covenants and agrees that it shall not knowingly or intentionally take any action or omit to take any action that would cause the termination of the REMIC status of either the Upper-Tier REMIC or the Lower-Tier REMIC or that would subject either the Upper-Tier REMIC or the Lower-Tier REMIC to tax. (d) Each Servicer may, and is hereby authorized to, perform any of its servicing responsibilities with respect to all or certain of the Mortgage Loans through a subservicer as it may from time to time designate in accordance with Section 8.03 but no such designation of a subservicer shall serve to release such Servicer from any of its obligations under this Agreement. Such subservicer shall have all ; provided that until such time as each Rating Agency confirms in writing that the rights and powers failure to service the Long Beach Loans through Ameriquest pursuant to the Ameriquest Subservicing Agreement would not result in a withdrawal or downgrading of the relevant Servicer Certificates, Long Beach shall perform its servicing responsibilities with respect to such Mortgage Loans under this Agreement. (e) Without limiting the generality of the foregoing, but subject to Sections 8.13 and 8.14, each Servicer in its own name or in the name of a subservicer is hereby authorized and empowered and this subsection shall constitute a power of attorney to carry out its servicing and administrative duties hereunder, on behalf of itself, the Owners and the Trust or any of them; to institute foreclosure proceedings or obtain 101 a deed in lieu of foreclosure so as to effect ownership of any Property on behalf of the Trust and to hold title to any Property upon such foreclosure or deed in lieu of foreclosure on behalf of the Trust; provided, however, that Section 8.14(a) and (c) shall constitute a power of attorney from the Trustee to each Servicer with respect to the matters described therein and in accordance with the terms thereof. Subject to Sections 8.13 and 8.14, the Trustee shall furnish any Servicer or any Subservicer with any additional powers of attorney and other documents as such Servicer shall reasonably request to enable such Servicer or any Subservicer to carry out its respective servicing and administrative duties hereunder. (f) Each Servicer shall give prompt notice to the Trustee and the Seller of any action, of which a responsible officer of such Servicer has actual knowledge, seeking to (i) assert a claim against the Trust or (ii) assert control over the Trust or any portion of the Trust Estate. (g) Servicing Advances incurred by any Servicer in connection with the servicing of the Mortgage Loans (including any penalties in connection with the payment of any taxes and assessments or other charges) on any Property shall be recoverable by such Servicer to the extent described in Section 8.09 and in Section 7.03(j) hereof.the

Servicers and Subservicers. (a) Acting directly or through one or more subservicers as provided in Section 8.03, each Servicer, as servicer, shall service and administer the Mortgage Loans identified on the Schedule of Mortgage Loans as being serviced by it as described below and with reasonable care, and using that degree of skill and attention that such Servicer exercises with respect to comparable mortgage loans that it services for itself or others, and shall have full power and authority, acting alone, to do or cause to be done any and all things in connection with such servicing and administration which it may deem necessary or desirable. In performing such servicing functions such Servicer shall (i) take into account the mortgagor non-conforming credit quality of the Mortgage Loans, (ii) follow the policies and procedures that it would apply to similar loans held for its own account, unless such policies and procedures are not generally in accordance with standard industry practices, in which case the Servicer shall service the loans generally in accordance with standard industry practices applicable to servicing similar loans, (iii) comply with all applicable laws and follow collection practices with respect to the related Mortgage Loans that are in all material respects legal, proper and prudent, and (iv) subject to its obligation to comply with clauses (i), (ii) and (iii): (A) with regard to Advanta, will not materially change its collection and servicing practices that are in existence as of the Startup Day without the consent of the Seller (such consent not to be unreasonably withheld)) and (B) with regard to Option One will comply with reasonable requests of the Seller including accelerated collection and foreclosure procedures. Advanta shall notify the Certificate Insurer of the changes specified in clause (iv)(A) of the preceding sentence. (b) The duties of each Servicer shall include the collecting and posting of all payments, responding to inquiries of Mortgagors or by federal, state or local government authorities with respect to the Mortgage Loans, investigating delinquencies, reporting tax information to Mortgagors in accordance with its customary practices and accounting for collections, furnishing monthly statements to the Trustee, the Master Servicer Trustee and the Seller with respect to remittances on the Mortgage Loans, advising the Trustee, the Master Servicer and Trustee or the Seller of the amount of Compensating Interest and Delinquency Advances due as of any Monthly Remittance Date with respect to the Mortgage Loans serviced by it and funding such Compensating Interest and Delinquency Advances, to the extent set forth in this Agreement. Each Servicer shall reasonably cooperate with the Trustee and the Master Servicer. Each Servicer and the Master Servicer shall furnish upon reasonable request to the Trustee with reasonable promptness information in its possession as may be necessary or appropriate to enable the Trustee to perform its tax reporting duties hereunder. (c) The Seller and the Depositor intend that the Upper-Tier REMIC and the Lower-Tier REMIC Estate shall each constitute and that the affairs of Upper-Tier REMIC and the Lower-Tier REMIC Estate shall each be conducted so as to qualify it as a REMIC. In furtherance of such intention, each Servicer covenants and agrees that it shall not knowingly or intentionally take any action or omit to take any action that would cause the termination of the REMIC status of either the Upper-Tier REMIC or the Lower-Tier REMIC Estate or that would subject either the Upper-Tier REMIC or the Lower-Tier REMIC Estate to tax. (d) Each Servicer may, and is hereby authorized to, perform any of its servicing responsibilities with respect to all or certain of the Mortgage Loans through a subservicer as it may from time to time designate in accordance with Section 8.03 but no such designation of a subservicer shall serve to release such Servicer from any of its obligations under this Agreement. Such subservicer shall have all the rights and powers of the relevant Servicer with respect to such Mortgage Loans under this Agreement. (e) Without limiting the generality of the foregoing, but subject to Sections 8.13 and 8.14, each Servicer in its own name or in the name of a subservicer is hereby authorized and empowered and this subsection shall constitute a power of attorney to carry out its servicing and administrative duties hereunder, on behalf of itself, the Owners and the Trust or any of them; to institute foreclosure proceedings or obtain 101 a deed in lieu of foreclosure so as to effect ownership of any Property on behalf of the Trust and to hold title to any Property upon such foreclosure or deed in lieu of foreclosure on behalf of the Trust; provided, however, that Section 8.14(a) and (c) shall constitute a power of attorney from the Trustee to each Servicer with respect to the matters described therein and in accordance with the terms thereof. Subject to Sections 8.13 and 8.14, the Trustee shall furnish any Servicer or any Subservicer with any additional powers of attorney and other documents as such Servicer shall reasonably request to enable such Servicer or any Subservicer to carry out its respective servicing and administrative duties hereunder. (f) Each Servicer shall give prompt notice to the Trustee Trustee, the Seller and the Seller Certificate Insurer of any action, of which a responsible officer of such Servicer has actual knowledge, seeking to (i) assert a claim against the Trust or (ii) assert control over the Trust or any portion of the Trust Estate. (g) Servicing Advances incurred by any Servicer in connection with the servicing of the Mortgage Loans (including any penalties in connection with the payment of any taxes and assessments or other charges) on any Property shall be recoverable by such Servicer to the extent described in Section 8.09 and in Section 7.03(j7.03(c)(iv)(D) hereof.