Common use of Special Affirmative Covenants Concerning Collateral Clause in Contracts

Special Affirmative Covenants Concerning Collateral. (a) The Borrower shall at all times warrant and defend the right, title and interest of the Lenders, the Collateral Agent and the Administrative Agent in and to the Collateral against the claims and demands of all Persons whomsoever. (b) The Borrower and the Servicer shall each service or cause to be serviced all Mortgage Loans in the best interests of and for the benefit of the Lenders, in accordance with the terms of this Agreement, the terms of the Principal Mortgage Documents, the standard requirements of the issuers of Take-Out Commitments covering the Mortgage Loans and, to the extent consistent with such terms, in accordance with Accepted Servicing Standards, including without limitation taking all actions necessary to enforce the obligations of the Obligors under such Eligible Mortgage Loans. The Borrower and the Servicer shall each hold all escrow funds collected in respect of Eligible Mortgage Loans in trust, without commingling the same with any other funds, and apply the same for the purposes for which such funds were collected. (c) The Servicer shall, no less than on an annual basis, review financial statements, compliance with financial parameters, Xxxxxx Xxx/Xxxxxxx Mac approvals (if applicable), and state licenses of all Persons from whom the Originators acquire Mortgage Loans.

Special Affirmative Covenants Concerning Collateral. (a) The Borrower shall at all times warrant and defend the right, title and interest of the Lenders, the Collateral Agent and the Administrative Agent in and to the Collateral against the claims and demands of all Persons whomsoever. (b) The Borrower and the Servicer shall each service or cause to be serviced all Mortgage Loans in the best interests of and for the benefit of the Lenders, in accordance with the terms of this Agreement, the terms of the Principal Mortgage Documents, the standard requirements of the issuers of Take-Out Commitments or Hedges covering the Mortgage Loans and, same and to the extent consistent with such termstxxxx, in accordance with Accepted Servicing Standards, including without limitation taking all actions necessary to enforce the obligations of the Obligors under such Eligible Mortgage Loans. The Borrower and the Servicer each shall each hold all escrow funds collected in respect of Eligible Mortgage Loans in trust, without commingling the same with any other funds, and apply the same for the purposes for which such funds were collected. (c) The Servicer shall, no less than on an annual basis, review financial statements, compliance with financial parameters, Xxxxxx XxxFannie Mae/Xxxxxxx Freddie Mac approvals (if applicable), and state licenses of all Persons licenxxx xx xxx Xxxxxxx from whom the Originators acquire Mortgage Loans.

Special Affirmative Covenants Concerning Collateral. (a) The Borrower shall at all times warrant and defend the right, title and interest of the Lenders, the Collateral Agent and the Administrative Agent in and to the Collateral against the claims and demands of all Persons whomsoever. (b) The Borrower and the Servicer shall each service or cause to be serviced all Mortgage Loans in the best interests of and for the benefit of the Lenders, in accordance with the terms of this Agreement, the terms of the Principal Mortgage Documents, the standard requirements of the issuers of Take-Out Commitments covering the Mortgage Loans and, same and to the extent consistent with such terms, in accordance with Accepted Servicing Standards, including without limitation taking all actions necessary to enforce the obligations of the Obligors under such Eligible Mortgage Loans. The Borrower and the Servicer each shall each hold all escrow funds collected in respect of Eligible Mortgage Loans in trust, without commingling the same with any other funds, and apply the same for the purposes for which such funds were collected. (c) The Servicer shall, no less than on an annual basis, review financial statements, compliance with financial parameters, Xxxxxx XxxFannie Mae/Xxxxxxx Freddie Mac approvals (if applicable), and state licenses of all Persons licenxxx xx xxx Xxxxxxx from whom the Originators acquire Mortgage Loans.