Common use of Trustee to Retain Possession of Certain Insurance Policies and Documents Clause in Contracts

Trustee to Retain Possession of Certain Insurance Policies and Documents. The Trustee or the applicable Custodian, shall retain possession and custody of the originals (to the extent available) of the [______________] PMI Policy and any other primary mortgage insurance policies, or certificate of insurance if applicable, and any certificates of renewal as to the foregoing as may be issued from time to time as contemplated by this Agreement. Until all amounts distributable in respect of the Certificates have been distributed in full and the Master Servicer otherwise has fulfilled its obligations under this Agreement, the Trustee or the related Custodian shall also retain possession and custody of each Mortgage File in accordance with and subject to the terms and conditions of this Agreement and the applicable Custodial Agreement. The Master Servicer shall promptly deliver or cause to be delivered to the Trustee or the related Custodian, upon the execution or receipt thereof the originals of the [______________] PMI Policy and any other primary mortgage insurance policies, any certificates of renewal, and such other documents or instruments that constitute Mortgage Loan Documents that come into the possession of the Master Servicer from time to time.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Inc), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp), Pooling and Servicing Agreement (Deutsche Mortgage Securities Inc)

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Trustee to Retain Possession of Certain Insurance Policies and Documents. The Trustee (or the applicable CustodianCustodian pursuant to the Custodial Agreement), shall retain possession and custody of the originals (to the extent available) of the [______________] PMI Policy and any other primary mortgage insurance policies, Primary Mortgage Insurance Policies or certificate of insurance if applicable, applicable and any certificates of renewal as to the foregoing as may be issued from time to time as contemplated by this Agreement. Until all amounts distributable in respect of the Certificates have been distributed in full and the Master Servicer otherwise has fulfilled its obligations under this Agreement, the Trustee (or any Custodian, as directed by the related Custodian Trustee) shall also retain possession and custody of each Mortgage File in accordance with and subject to the terms and conditions of this Agreement and the applicable Custodial Agreement. The Master Servicer shall promptly deliver or cause to be delivered to the Trustee (or the related Custodianapplicable Custodian pursuant to the Custodial Agreement), upon the execution or receipt thereof the originals of the [______________] PMI Policy Primary Mortgage Insurance Policies and any other primary mortgage insurance policies, any certificates of renewalrenewal thereof, and such other documents or instruments that constitute portions of the Mortgage Loan Documents File that come into the possession of the Master Servicer from time to time.. 133

Appears in 1 contract

Samples: Trust Agreement (Lehman Mortgage Trust 2006-8)

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