Common use of The Loan Insurance Policy Clause in Contracts

The Loan Insurance Policy. The Master Servicer shall take whatever action is appropriate to maximize the amounts payable under the Loan Insurance Policy and to service the Mortgage Loans in the manner required by the Loan Insurance Policy. The Master Servicer shall prepare and submit all claims eligible for submission under the Loan Insurance Policy and shall perform all of the obligations of the insured under the Loan Insurance Policy other than those in Section 6.15(a) of the Indenture to be performed by the Co-Trustee. If the Loan Insurance Policy is terminated for any reason other than the exhaustion of its coverage (including with respect to non-compliance under the Item 1114 Agreement as described in the following paragraph), or if the claims-paying ability rating of its issuer is reduced to below investment grade, or, with respect to the initial issuer of such policy, to "A+" or below by Standard & Poor's or "A1" or below by Moody's, the Master Servicer will use its best efforts to obtain a comparable policy from an insurer that is acceptable to the Rating Agencies and consented to by the Credit Enhancer (which consent shall not be unreasonably withheld). The replacement policy will provide coverage equal to the then remaining coverage of the Loan Insurance Policy if available. However, if the premium cost of a replacement policy exceeds the premium cost of the Loan Insurance Policy then the Master Servicer, at the direction of the Credit Enhancer, will either (i) obtain a replacement policy with reduced coverage amount so that the premium cost will not exceed the premium cost of the Loan Insurance Policy or (ii) from Interest Collections on the Mortgage Loans for each Collection Period, deposit into a segregated trust account the amounts that would have been paid as premium on the Loan Insurance Policy had it not been terminated, which amounts will be available to pay Investor Loss Amount with respect to the Mortgage Loans on future Payment Dates and, after the Principal Amount Notes have been repaid, will be paid to the Issuer for payment to the Certificates pursuant to the Trust Agreement. The Master Servicer will withdraw from the Collection Account (to the extent of available funds) and forward to the Co-Trustee (1) on or before 12:00 NOON (New York City time) on the 45th day following the Closing Date, the initial premium due under the Loan Insurance Policy, and (2) on or before 12:00 NOON (New York City time) on each Payment Date, the aggregate monthly premium due under the Loan Insurance Policy for that Payment Date. The Master Servicer will withdraw from the Collection Account, on the due date therefor any other amount owed to the Loan Insurance Policy Provider under the Loan Insurance Policy. The Depositor may terminate the Loan Insurance Policy, with the consent of the Credit Enhancer, if the Loan Insurance Policy Provider fails to comply with its obligations under the Item 1114 Agreement that is expected to be entered among the Depositor, CWABS, Inc., CWMBS, Inc., CWALT, Inc., the Sponsor and the Loan Insurance Policy Provider.

The Loan Insurance Policy. The Master Txx Xxxter Servicer shall take whatever action is appropriate to maximize the amounts payable under the Loan Insurance Policy and to service the Mortgage Loans in the manner required by the Loan Insurance Policy. The Master Servicer shall prepare and submit all claims eligible for submission under the Loan Insurance Policy and shall perform all of the obligations of the insured under the Loan Insurance Policy other than those in Section 6.15(a) of the Indenture to be performed by the Co-Trustee. If the Loan Insurance Policy is terminated for any reason other than the exhaustion of its coverage (including with respect to non-compliance under the Item 1114 Agreement as described in the following paragraph)coverage, or if the claims-paying ability rating of its issuer is reduced to below investment grade, or, with respect to the initial issuer of such policy, to "A+" or below by Standard & Poor's or "A1" or below by Moody's, the Master Servicer will use its best efforts to obtain a comparable policy from an insurer that is acceptable to the Rating Agencies and consented to by the Credit Enhancer (which consent shall not be unreasonably withheld). The replacement policy will provide coverage equal to the then remaining coverage of the Loan Insurance Policy if available. However, if the premium cost of a replacement policy exceeds the premium cost of the Loan Insurance Policy then the Master Servicer, at the direction of the Credit Enhancer, will either (i) obtain a replacement policy with reduced coverage amount so that the premium cost will not exceed the premium cost of the Loan Insurance Policy or (ii) from Interest Collections on the Mortgage Loans for each Collection Period, deposit into a segregated trust account the amounts that would have been paid as premium on the Loan Insurance Policy had it not been terminated, which amounts will be available to pay Investor Liquidation Loss Amount Amounts with respect to the Mortgage Loans on future Payment Dates and, after the Principal Amount Notes have been repaid, will be paid to the Issuer for payment to the Certificates pursuant to the Trust Agreement. The Master Servicer will withdraw from the Collection Account (to the extent of available funds) and forward to the Co-Trustee (1) on or before 12:00 NOON (New York City time) on the 45th day following the Closing Date, the initial premium due under the Loan Insurance Policy, and (2) on or before 12:00 NOON (New York City time) on each Payment Date, the aggregate monthly premium due under the Loan Insurance Policy for that Payment Date. The Master Servicer will withdraw from the Collection Account, on the due date therefor any other amount owed to the Loan Insurance Policy Provider under the Loan Insurance Policy. The Depositor may terminate the Loan Insurance Policy, with the consent of the Credit Enhancer, if the Loan Insurance Policy Provider fails to comply with its obligations under the Item 1114 Agreement that is expected to be entered among the Depositor, CWABS, Inc., CWMBS, Inc., CWALT, Inc., the Sponsor and the Loan Insurance Policy Provider.

The Loan Insurance Policy. The Master Servicer shall take whatever action is appropriate to maximize the amounts payable under the Loan Insurance Policy and to service the Mortgage Loans in the manner required by the Loan Insurance Policy. The Master Servicer shall prepare and submit on a timely basis all claims eligible for submission under the Loan Insurance Policy and shall perform all of the obligations of the insured under the Loan Insurance Policy and under Section 6.15 of the Indenture other than those in Section 6.15(a) of the Indenture to be performed by the Co-Trustee. If the Loan Insurance Policy is terminated for any reason other than the exhaustion of its coverage (including with respect to non-compliance under the Item 1114 Agreement as described in the following paragraph), or if the claims-paying ability rating of its issuer the Loan Insurance Policy Provider is reduced to below investment grade, or, with respect to the initial issuer of such policy, to "A+" or below by Standard & Poor's or "A1" or below by Moody'sXxxxx'x, the Master Servicer will use its best efforts to obtain a comparable policy from an insurer that is acceptable to the Rating Agencies and consented to by the Credit Enhancer (which consent shall not be unreasonably withheld)Enhancer. The replacement policy will provide coverage equal to the then remaining coverage of the Loan Insurance Policy if available. However, if the premium cost of a replacement policy exceeds the premium cost of the Loan Insurance Policy then the Master Servicer, at the direction of the Credit Enhancer, will either (i) obtain a replacement policy with reduced coverage amount so that the premium cost will not exceed the premium cost of the Loan Insurance Policy or (ii) from Interest Collections on the Mortgage Loans for each Collection Period, deposit into a segregated trust account the amounts that would have been paid as premium on Policy. As required under the Loan Insurance Policy had it not been terminatedPolicy, which amounts will be available to pay Investor Loss Amount with respect to the Mortgage Loans on future Payment Dates and, after the Principal Amount Notes have been repaid, will be paid to the Issuer for payment to the Certificates pursuant to the Trust Agreement. The Master Servicer will withdraw from the Collection Account (to the extent of available funds) and forward to the Co-Trustee (1) on or before 12:00 NOON (New York City time) on the 45th day following the Closing Date, the initial premium due under the Loan Insurance Policy, and (2) on or before 12:00 NOON (New York City time) on each Payment Date, the aggregate monthly premium due under the Loan Insurance Policy for that Payment Date. The Master Servicer will withdraw from the Collection Account, on the due date therefor any other amount owed to the Loan Insurance Policy Provider under the Loan Insurance Policy (except for inclemnities payable by the Sponsor). The Sponsor will be responsible to pay the Loan Insurance Policy Provider any indemnity amount under section 6.11 that is caused by the breach of the representations and warranties in section 2.2 of the Loan Insurance Policy. The Depositor may terminate the Loan Insurance Policy, with the consent of the Credit Enhancer, if the Loan Insurance Policy Provider fails to comply with its obligations under the Item 1114 Agreement that is expected to be entered among the Depositor, CWABS, Inc., CWMBS, Inc., CWALT, Inc., the Sponsor and the Loan Insurance Policy Provider.

The Loan Insurance Policy. The Master Servicer shall take whatever action is appropriate to maximize the amounts payable under the Loan Insurance Policy and to service the Mortgage Loans in the manner required by the Loan Insurance Policy. The Master Servicer shall prepare and submit all claims eligible for submission under the Loan Insurance Policy and shall perform all of the obligations of the insured under the Loan Insurance Policy other than those in Section 6.15(a) of the Indenture to be performed by the Co-Trustee. If the Loan Insurance Policy is terminated for any reason other than the exhaustion of its coverage (including with respect to non-compliance under the Item 1114 Agreement as described in the following paragraph), or if the claims-paying ability rating of its issuer is reduced to below investment grade, or, with respect to the initial issuer of such policy, to "A+" or below by Standard & Poor's or "A1" or below by Moody's, the Master Servicer will use its best efforts to obtain a comparable policy from an insurer that is acceptable to the Rating Agencies and consented to by the Credit Enhancer (which consent shall not be unreasonably withheld). The replacement policy will provide coverage equal to the then remaining coverage of the Loan Insurance Policy if available. However, if the premium cost of a replacement policy exceeds the premium cost of the Loan Insurance Policy then the Master Servicer, at the direction of the Credit Enhancer, will either (i) obtain a replacement policy with reduced coverage amount so that the premium cost will not exceed the premium cost of the Loan Insurance Policy or (ii) from Interest Collections on the Mortgage Loans for each Collection Period, deposit into a segregated trust account the amounts that would have been paid as premium on the Loan Insurance Policy had it not been terminated, which amounts will be available to pay Investor Loss Amount with respect to the Mortgage Loans on future Payment Dates and, after the Principal Amount Notes have been repaid, will be paid to the Issuer for payment to the Certificates pursuant to the Trust AgreementPolicy. The Master Servicer will withdraw from the Collection Account (to the extent of available funds) and forward to the Co-Trustee (1) on or before 12:00 NOON (New York City time) on the 45th day following the Closing Date, the initial premium due under the Loan Insurance Policy, and (2) on or before 12:00 NOON (New York City time) on each Payment Date, the aggregate monthly premium due under the Loan Insurance Policy for that Payment Date. The Master Servicer will withdraw from the Collection Account, on the due date therefor any other amount owed to the Loan Insurance Policy Provider under the Loan Insurance Policy. The Depositor may terminate the Loan Insurance Policy, with the consent of the Credit Enhancer, if the Loan Insurance Policy Provider fails to comply with its obligations under the Item 1114 Agreement that is expected to be entered among the Depositor, CWABS, Inc., CWMBS, Inc., CWALT, Inc., the Sponsor and the Loan Insurance Policy Provider.

The Loan Insurance Policy. The Master Xxx Xxster Servicer shall take whatever action is appropriate to maximize the amounts payable under the Loan Insurance Policy and to service the Mortgage Loans in the manner required by the Loan Insurance Policy. The Master Servicer shall prepare and timely submit all claims eligible for submission under the Loan Insurance Policy and shall perform all of the obligations of the insured under the Loan Insurance Policy other than those in Section 6.15(a) of the Indenture to be performed by the Co-Trustee. If the Loan Insurance Policy is terminated for any reason other than the exhaustion of its coverage (including with respect to non-compliance under the Item 1114 Agreement as described in the following paragraph), or if the claims-paying ability rating of its issuer is reduced to below investment grade, or, with respect to the initial issuer of such policy, to "A+" or below by Standard & Poor's or "A1" or below by Moody's, the Master Servicer will use its best efforts to obtain a comparable policy from an insurer that is acceptable to the Rating Agencies and consented to by the Credit Enhancer (which consent shall not be unreasonably withheld). The replacement policy will provide coverage equal to the then remaining coverage of the Loan Insurance Policy if available. However, if the premium cost of a replacement policy exceeds the premium cost of the Loan Insurance Policy then the Master Servicer, at the direction of the Credit Enhancer, will either (i) obtain a replacement policy with reduced coverage amount so that the premium cost will not exceed the premium cost of the Loan Insurance Policy or (ii) from Interest Collections on the Mortgage Loans for each Collection Period, deposit into a segregated trust account the amounts that would have been paid as premium on the Loan Insurance Policy had it not been terminated, which amounts will be available to pay Investor Loss Amount with respect to the Mortgage Loans on future Payment Dates and, after the Principal Amount Notes have been repaid, will be paid to the Issuer for payment to the Certificates pursuant to the Trust AgreementPolicy. The Master Servicer will withdraw from the Collection Account (to the extent of available funds) and forward to the Co-Trustee (1) on or before 12:00 NOON noon (New York City time) on the 45th day following the Closing Date, the initial premium due under the Loan Insurance Policy, and (2) on or before 12:00 NOON noon (New York City time) on each Payment Date, the aggregate monthly premium due under the Loan Insurance Policy for that Payment Date. The Master Servicer will withdraw from the Collection Account, on the due date therefor any other amount owed to the Loan Insurance Policy Provider under the Loan Insurance Policy. The Depositor may terminate the Loan Insurance Policy, with the consent of the Credit Enhancer, if the Loan Insurance Policy Provider fails to comply with its obligations under the Item 1114 Agreement that is expected to be entered among the Depositor, CWABS, Inc., CWMBS, Inc., CWALT, Inc., the Sponsor and the Loan Insurance Policy Provider.