Common use of Trust Estate and Accounts Held for Benefit of the Note Insurer Clause in Contracts

Trust Estate and Accounts Held for Benefit of the Note Insurer. The Indenture Trustee shall hold the Trust Estate for the benefit of the related Owners and the Note Insurer and all references in this Agreement and in the Notes to the benefit of Owners of the Notes shall be deemed to include the Note Insurer. The Indenture Trustee shall cooperate in all reasonable respects with any reasonable request by the Note Insurer for action to preserve or enforce the Note Insurer's rights or interests under this Agreement and the Notes. The Servicer hereby acknowledges and agrees that it shall service and administer the Home Equity Loans and any REO Properties, and shall maintain the Principal and Interest Account, for the benefit of the Owners and for the benefit of the Note Insurer, and all references in this Agreement to the benefit of or actions on behalf of the Owners shall be deemed to include the Note Insurer. Unless a Note Insurer Default exists, the Servicer shall not terminate any Sub-Servicing Agreements without cause without the prior consent of the Note Insurer.

Appears in 5 contracts

Samples: Sale and Servicing Agreement (Imc Home Equity Loan Owner Trust 1998-4), Sale and Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Sale and Servicing Agreement (Imc Securities Inc)

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Trust Estate and Accounts Held for Benefit of the Note Insurer. The Indenture Trustee shall hold the Trust Estate for the benefit of the related Owners and the Note Insurer and all references in this Agreement and in the Notes to the benefit of Owners of the Notes shall be deemed to include the Note Insurer. The Indenture Trustee shall cooperate in all reasonable respects with any reasonable request by the Note Insurer for action to preserve or enforce the Note Insurer's rights or interests under this Agreement and the Notes. The Servicer hereby acknowledges and agrees that it shall service and administer the Home Equity Mortgage Loans and any REO Properties, and shall maintain the Principal and Interest Account, for the benefit of the Owners and for the benefit of the Note Insurer, and all references in this Agreement to the benefit of or actions on behalf of the Owners shall be deemed to include the Note Insurer. Unless a Note Insurer Default exists, the Servicer shall not terminate any Sub-Servicing Agreements without cause without the prior consent of the Note Insurer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Amresco Residential Securities Corp)

Trust Estate and Accounts Held for Benefit of the Note Insurer. The Indenture Trustee shall hold the Trust Estate for the benefit of the related Owners and the Note Insurer and all references in this Agreement Agreement, the Indentures and in the Notes to the benefit of Owners of the Notes shall be deemed to include the Note Insurer. The Indenture Trustee shall cooperate in all reasonable respects with any reasonable request by the Note Insurer for action to preserve or enforce the Note Insurer's rights or interests under this Agreement Agreement, the Indentures and the Notes. The Servicer hereby acknowledges and agrees that it shall service and administer the Home Equity Mortgage Loans and any REO Properties, and shall maintain the Principal and Interest Account, for the benefit of the Owners of each Series of the Notes and for the benefit of the Note Insurer, and all references in this Agreement or the Indentures to the benefit of or actions on behalf of the Owners shall be deemed to include the Note Insurer. Unless a Note Insurer Default exists, the Servicer shall not terminate any Sub-Servicing Agreements without cause without the prior consent of the Note Insurer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (First Alliance Mortgage Loan Trust 1998-2)

Trust Estate and Accounts Held for Benefit of the Note Insurer. The Indenture Trustee shall hold the Trust Estate for the benefit of the related Owners and the Note Insurer and all references in this Agreement and in the Notes to the benefit of Owners of the Notes shall be deemed to include the Note Insurer. The Indenture Trustee shall cooperate in all reasonable respects with any reasonable request by the Note Insurer for action to preserve or enforce the Note Insurer's rights or interests under this Agreement and the Notes. The Servicer hereby acknowledges and agrees that it shall service and administer the Home Equity Loans and any REO Properties, and shall maintain the Principal and Interest Account, for the benefit of the Owners and for the benefit of the Note Insurer, and all references in this Agreement to the benefit of or actions on behalf of the Owners shall be deemed to include the Note Insurer. Unless a Note Insurer Default exists, the Servicer shall not terminate any Sub-Servicing Agreements or Special Servicing Agreements without cause without the prior consent of the Note Insurer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Imc Home Equity Loan Owner Trust 1998-6)

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Trust Estate and Accounts Held for Benefit of the Note Insurer. The Indenture Trustee shall hold the Trust Estate for the benefit of the related Owners and the Note Insurer and all references in this Agreement and in the Notes to the benefit of Owners of the Notes shall be deemed to include the Note Insurer. The Indenture Trustee shall cooperate in all reasonable respects with any reasonable request by the Note Insurer for action to preserve or enforce the Note Insurer's rights or interests under this Agreement and the Notes. The Servicer hereby acknowledges and agrees that it shall service and administer the Home Equity Loans and any REO Properties, and shall maintain the Principal and Interest Account, for the benefit of the Owners and for the benefit of the Note Insurer, and all references in this Agreement to the benefit of or actions on behalf of the Owners shall be deemed to include the Note Insurer. Unless a Note Insurer Default exists, the Servicer shall not terminate any Sub-Servicing Agreements without cause without the prior consent of the Note Insurer.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Imc Home Equity Loan Owner Trust 1998-7)

Trust Estate and Accounts Held for Benefit of the Note Insurer. The Indenture Trustee shall hold the Trust Estate for the benefit of the related Owners and the Note Insurer and all references in this Agreement Indenture and in the Notes to the benefit of Owners of the Notes shall be deemed to include the Note Insurer. The Indenture Trustee shall cooperate in all reasonable respects with any reasonable request by the Note Insurer for action to preserve or enforce the Note Insurer's rights or interests under this Agreement Indenture and the Notes. The Servicer hereby acknowledges and agrees that it shall service and administer the Home Equity Loans and any REO Properties, and shall maintain the Principal and Interest Account, for the benefit of the Owners and for the benefit of the Note Insurer, and all references in this Agreement Indenture to the benefit of or actions on behalf of the Owners shall be deemed to include the Note Insurer. Unless a Note Insurer Default exists, the Servicer shall not terminate any Sub-Servicing Agreements without cause without the prior consent of the Note Insurer.

Appears in 1 contract

Samples: Indenture (Imc Securities Inc)

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