Common use of Sub-Servicing Agreements Between Ocwen and Sub-Servicers Clause in Contracts

Sub-Servicing Agreements Between Ocwen and Sub-Servicers. Ocwen may arrange for the subservicing of any Ocwen Mortgage Loan by a Sub- Servicer pursuant to a Sub-Servicing Agreement; provided that such sub-servicing arrangement and the terms of the related Sub-Servicing Agreement must provide for the servicing of such Ocwen Mortgage Loans in a manner consistent with the servicing arrangements contemplated hereunder. Each Sub-Servicer shall be (i) authorized to transact business in the state or states where the related Mortgaged Properties it is to service are situated, if and to the extent required by applicable law to enable the Sub-Servicer to perform its obligations hereunder and under the Sub-Servicing Agreement and (ii) a Xxxxxxx Mac or Xxxxxx Mae approved mortgage servicer. Notwithstanding the provisions of any Sub-Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between Ocwen or a Sub-Servicer or reference to actions taken through Ocwen or otherwise, Ocwen shall remain obligated and liable to the Depositor, the Trustee and the Certificateholders for the servicing and administration of the Ocwen Mortgage Loans in accordance with the provisions of this Agreement without diminution of such obligation or liability by virtue of such Sub-Servicing Agreements or arrangements or by virtue of indemnification from the Sub-Servicer and to the same extent and under the same terms and conditions as if Ocwen alone were servicing and administering the Ocwen Mortgage Loans. Every Sub-Servicing Agreement entered into by Ocwen shall contain a provision giving the successor Servicer the option to terminate such agreement in the event a successor Servicer is appointed. All actions of each Sub-Servicer performed pursuant to the related Sub-Servicing Agreement shall be performed as an agent of Ocwen with the same force and effect as if performed directly by Ocwen. For purposes of this Agreement, Ocwen shall be deemed to have received any collections, recoveries or payments with respect to the Ocwen Mortgage Loans that are received by a Sub-Servicer regardless of whether such payments are remitted by the Sub-Servicer to the Servicer.

Sub-Servicing Agreements Between Ocwen and Sub-Servicers. Ocwen may arrange for the subservicing of any Ocwen Mortgage Loan by a Sub- Servicer pursuant to a Sub-Servicing Agreement; provided that such sub-servicing arrangement and the terms of the related Sub-Servicing Agreement must provide for the servicing of such Ocwen Mortgage Loans in a manner consistent with the servicing arrangements contemplated hereunder. Each Sub-Servicer shall be (i) authorized to transact business in the state or states where the related Mortgaged Properties it is to service are situated, if and to the extent required by applicable law to enable the Sub-Servicer to perform its obligations hereunder and under the Sub-Servicing Agreement and (ii) a Xxxxxxx Mac or Xxxxxx Mae approved mortgage servicer. Notwithstanding the provisions of any Sub-Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between Ocwen or a Sub-Servicer or reference to actions taken through Ocwen or otherwise, Ocwen shall remain obligated and liable to the Depositor, the Trustee and the Certificateholders for the servicing and administration of the Ocwen Mortgage Loans in accordance with the provisions of this Agreement without diminution of such obligation or liability by virtue of such Sub-Servicing Agreements or arrangements or by virtue of indemnification from the Sub-Servicer and to the same extent and under the same terms and conditions as if Ocwen alone were servicing and administering the Ocwen Mortgage Loans. Every Sub-Servicing Agreement entered into by Ocwen shall contain a provision giving the successor Servicer the option to terminate such agreement in the event a successor Servicer is appointed. All actions of each Sub-Servicer performed pursuant to the related Sub-Servicing Agreement shall be performed as an agent of Ocwen with the same force and effect as if performed directly by Ocwen. For purposes of this Agreement, Ocwen shall be deemed to have received any collections, recoveries or payments with respect to the Ocwen Mortgage Loans that are received by a Sub-Servicer regardless of whether such payments are remitted by the Sub-Servicer to the ServicerOcwen.

Sub-Servicing Agreements Between Ocwen and Sub-Servicers. Ocwen may arrange for the subservicing of any Ocwen Mortgage Loan by a Sub- Servicer pursuant to a Sub-Servicing Agreement; provided that such sub-servicing arrangement and the terms of the related Sub-Servicing Agreement must provide for the servicing of such Ocwen Mortgage Loans in a manner consistent with the servicing arrangements contemplated hereunder. Each Sub-Servicer shall be (i) authorized to transact business in the state or states where the related Mortgaged Properties it is to service are situated, if and to the extent required by applicable law to enable the Sub-Servicer to perform its obligations hereunder and under the Sub-Servicing Agreement and (ii) a Xxxxxxx Mac or Xxxxxx Mae approved mortgage servicer. Notwithstanding the provisions of any Sub-Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between Ocwen or a Sub-Servicer or reference to actions taken through Ocwen or otherwise, Ocwen shall remain obligated and liable to the Depositor, the Trustee and the Certificateholders for the servicing and administration of the Ocwen Mortgage Loans in accordance with the provisions of this Agreement without diminution of such obligation or liability by virtue of such Sub-Servicing Agreements or arrangements or by virtue of indemnification from the Sub-Servicer and to the same extent and under the same terms and conditions as if Ocwen alone were servicing and administering the Ocwen Mortgage Loans. Every Sub-Servicing Agreement entered into by Ocwen shall contain a provision giving the successor Servicer the option to terminate such agreement in the event a successor Servicer is appointed. All actions of each Sub-Servicer performed pursuant to the related Sub-Servicing Agreement shall be performed as an agent of Ocwen with the same force and effect as if performed directly by Ocwen. For purposes of this Agreement, Ocwen shall be deemed to have received any collections, recoveries or payments with respect to the Ocwen Mortgage Loans that are received by a Sub-Sub- Servicer regardless of whether such payments are remitted by the Sub-Servicer to the ServicerOcwen.

Sub-Servicing Agreements Between Ocwen and Sub-Servicers. Ocwen may arrange for the subservicing of any Ocwen Mortgage Loan by a Sub- Servicer pursuant to a Sub-Servicing Agreement; provided that such sub-servicing arrangement and the terms of the related Sub-Servicing Agreement must provide for the servicing of such Ocwen Mortgage Loans in a manner consistent with the servicing arrangements contemplated hereunder. Each Sub-Servicer shall be (i) authorized to transact business in the state or states where the related Mortgaged Properties it is to service are situated, if and to the extent required by applicable law to enable the Sub-Servicer to perform its obligations hereunder and under the Sub-Servicing Agreement and (ii) a Xxxxxxx Mac or Xxxxxx Mae approved mortgage servicer. Notwithstanding the provisions of any Sub-Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between Ocwen or and a Sub-Servicer or reference to actions taken through Ocwen or otherwise, Ocwen shall remain obligated and liable to the Depositor, the Trustee and the Certificateholders for the servicing and administration of the Ocwen Mortgage Loans in accordance with the provisions of this Agreement without diminution of such obligation or liability by virtue of such Sub-Servicing Agreements or arrangements or by virtue of indemnification from the Sub-Sub- Servicer and to the same extent and under the same terms and conditions as if Ocwen alone were servicing and administering the Ocwen Mortgage Loans. Every Sub-Servicing Agreement entered into by Ocwen shall contain a provision giving the successor Servicer the option to terminate such agreement in the event a successor Servicer is appointed. All actions of each Sub-Servicer performed pursuant to the related Sub-Servicing Agreement shall be performed as an agent of Ocwen with the same force and effect as if performed directly by Ocwen. For purposes of this Agreement, Ocwen shall be deemed to have received any collections, recoveries or payments with respect to the Ocwen Mortgage Loans that are received by a Sub-Sub- Servicer regardless of whether such payments are remitted by the Sub-Servicer to the ServicerOcwen.