Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (i) of this Subsection (f). The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ii) of this Subsection (f). (i) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b), 2(c)(iii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), and 2(e) of this Amendment Reg AB, and to provide the information required with respect to such Subservicer under Section 2(c)(iv) of this Amendment Reg AB. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) as and when required to be delivered. (ii) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity identified pursuant to clause (B) of this paragraph. The Company shall cause any such Participating Entity used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) of this Agreement. The Company shall be responsible for obtaining from each Participating Entity and delivering to the Purchaser, the Master Servicer and the Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity under Section 2(e), in each case as and when required to be delivered.
Appears in 2 contracts
Samples: Assignment, Assumption and Recognition Agreement (HSI Asset Securitization CORP Trust 2006-He2), Assignment, Assumption and Recognition Agreement (HSI Asset Securitization CORP Trust 2006-He1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (i) of this Subsection (f). The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ii) of this Subsection (f).
(i) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in a Securitization Transaction that are material to the Company's performance hereunder, the Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b8.14(b), 2(c)(iii8.14(c)(iii), 2(c)(v8.14(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 8.14(d) and 2(e8.14(e) of this Amendment Reg ABAgreement, and to provide the information required with respect to such Subservicer under Section 2(c)(iv8.14(c)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d8.14(d), any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e8.14(e) and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e8.14(e) as and when required to be delivered.
(ii) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after After reasonable notice from the Purchaser of the parties involved in a Securitization Transaction that are material to the Purchaser’s Securitization TransactionCompany's performance hereunder, the Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in substance reasonably satisfactory to the Purchaser, such Depositor and such Master Servicer determined in consultation with the Company) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity identified pursuant to clause (B) of this paragraph. The Company shall cause any such Participating Entity used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e8.14(e) of this AgreementAgreement to the same extent as if such Participating Entity were the Company. The Company shall be responsible for obtaining from each Participating Entity and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity under Section 2(e8.14(e), in each case as and when required to be delivered.
Appears in 2 contracts
Samples: Master Mortgage Loan Purchase and Servicing Agreement (Banc of America Funding 2006-D Trust), Master Mortgage Loan Purchase and Servicing Agreement (Banc of America Funding Corp)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit authorize any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b2.02, 2.03(c), 2(c)(iii(e), 2(c)(v(f) and (g), 2(c)(vi)2.04, 2(c)(vii), 2(d), 2.05 and 2(e) 2.07 of this Amendment Reg ABAB Addendum to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv2.03(d) of this Amendment Reg ABAB Addendum. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)2.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 2.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 2.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon written request provide to the Purchaser and any Master Servicer, or any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) if a Master Servicer has not been identified for the related Securitization Transaction, a written description (in form and substance reasonably satisfactory to such parties) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities, “participating in the servicing function” within the meaning of Item 1122 of Regulation AB and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The .
(c) As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 2.05 and 2.07 of this AgreementReg AB Addendum to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)2.05, in each case as and when required to be delivered.
Appears in 2 contracts
Samples: Mortgage Loan Sale and Servicing Agreement (Sequoia Mortgage Trust 2007-1), Mortgage Loan Sale and Servicing Agreement (Sequoia Mortgage Trust 2007-4)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit authorize any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b2.02, 2.03(c), 2(c)(iii(e), 2(c)(v(f) and (g), 2(c)(vi)2.04, 2(c)(vii), 2(d), 2.05 and 2(e) 2.07 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv2.03(d) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)2.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 2.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 2.05 as and when required to be delivered.. For the purposes of clarification, the covenants of this clause (i) are applicable only with respect to those Mortgage Loans being securitized in a Securitization Transaction pursuant to which the Company has entered into a Reconstitution Agreement..
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, "participating in the servicing function" within the meaning of Item 1122 of Regulation AB and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (B) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 2.05 and 2.07 of this AgreementReg AB Addendum to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subservicer and Subcontractor under Section 2(e)2.05, in each case as and when required to be delivered. For the purposes of clarification, the covenants of this clause (b) are applicable only with respect to those Mortgage Loans being securitized in a Securitization Transaction pursuant to which the Company has entered into a Reconstitution Agreement.
Appears in 2 contracts
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-1ar), Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-3ar)
Use of Subservicers and Subcontractors. The Company Servicer shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer Servicer under this Agreement or any related Reconstitution Agreement unless the Company Servicer complies with the provisions of paragraph (ia) of this Subsection (f)33.07. The Company Servicer shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer Servicer under this Agreement or any related Reconstitution Agreement unless the Company Servicer complies with the provisions of paragraph (iib) of this Subsection (f)33.07.
(ia) It shall not be necessary for the Company Servicer to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the Company The Servicer shall cause any Subservicer used by the Company Seller (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section Subsection 33.07, with Subsections 33.02, 33.04(a), (c), (d) and (e), 33.05, 33.06 and 33.08(b) and (c) of this Agreement and with Sections 2(b)11.29, 2(c)(iii)11.30, 2(c)(v)11.31, 2(c)(vi)11.32 of the Servicing Addendum, 2(c)(vii), 2(d), and 2(e) of this Amendment Reg ABto the same extent as if such Subservicer were the Seller, and to provide the information required with respect to such Subservicer under Section 2(c)(ivSubsection 33.04(b) of this Amendment Reg ABAgreement. The Company Servicer shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)Subsection 33.05, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) Subsection 33.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) Subsection 33.06 as and when required to be delivered.
(ii) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity identified pursuant to clause (B) of this paragraph. The Company shall cause any such Participating Entity used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) of this Agreement. The Company shall be responsible for obtaining from each Participating Entity and delivering to the Purchaser, the Master Servicer and the Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity under Section 2(e), in each case as and when required to be delivered.
Appears in 2 contracts
Samples: Master Loan Purchase and Servicing Agreement (MASTR Alternative Loan Trust 2006-3), Master Loan Purchase and Servicing Agreement (MASTR Alternative Loan Trust 2006-2)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b2.02, 2.03( c), 2(c)(iii(e), 2(c)(v(f) and (g), 2(c)(vi)2.04, 2(c)(vii), 2(d), 2.05 and 2(e) 2.07 of this Amendment Reg ABAB Addendum to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv2.03(d) of this Amendment Reg ABAB Addendum. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)2.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 2.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 2.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser, such Depositor and such Master Servicer) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 2.05 and 2.07 of this AgreementReg AB Addendum to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate the other certifications required to be delivered by such Participating Entity Subcontractor under Section 2(e)2.05, in each case as and when required to be delivered.
Appears in 2 contracts
Samples: Regulation Ab Compliance Addendum (Banc of America Funding 2006-I Trust), Regulation Ab Compliance Addendum (Banc of America Funding 2006-8t2 Trust)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Subsection. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Subsection.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section Subsection and with Sections 2(bSubsections 7A.02, 7A.03(c), 2(c)(iii(e), 2(c)(v(f) and (g), 2(c)(vi)7A.04, 2(c)(vii), 2(d), 7A.05 and 2(e) 7A.07 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(ivSubsection 7A.03(d) of this Amendment Reg ABAgreement. The B-71 Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)Subsection 7A.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) Subsection 7A.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) Subsection 7A.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, such Depositor and such Master Servicer) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Subsections 7A.05 and 7A.07 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate the other certifications required to be delivered by such Participating Entity Subservicer and such Subcontractor under Section 2(e)Subsection 7A.05, in each case as and when required to be delivered.
Appears in 2 contracts
Samples: Master Seller's Warranties and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-Af1), Master Seller's Warranties and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-Oar2)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Subsection. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Subsection.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section Subsection and with Sections 2(bSubsections 7A.02, 7A.03(c), 2(c)(iii(e), 2(c)(v(f) and (g), 2(c)(vi)7A.04, 2(c)(vii), 2(d), 7A.05 and 2(e) 7A.07 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(ivSubsection 7A.03(d) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)Subsection 7A.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) Subsection 7A.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) Subsection 7A.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, such Depositor and such Master Servicer) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Subsections 7A.05 and 7A.07 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate the other certifications required to be delivered by such Participating Entity Subservicer and such Subcontractor under Section 2(e)Subsection 7A.05, in each case as and when required to be delivered.
Appears in 2 contracts
Samples: Master Seller's Warranties and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-Oar4), Master Seller's Warranties and Servicing Agreement (Merrill Lynch Mortgage Backed Securities Trust, Series 2007-3)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (i) of this Subsection (f) and of Section 2(c)(iv). The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ii) of this Subsection (f) and of Section 2(c)(iv).
(i) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b), 2(c)(iii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), and 2(e) of this Amendment Reg ABAgreement , and to provide the information required with respect to such Subservicer under Section 2(c)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) as and when required to be delivered.
(ii) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity identified pursuant to clause (B) of this paragraph. The Company shall cause any such Participating Entity used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) of this Agreement. The Company shall be responsible for obtaining from each Participating Entity and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity under Section 2(e), in each case as and when required to be delivered.
Appears in 2 contracts
Samples: Master Mortgage Loan Purchase and Servicing Agreement (Washington Mutual Mortgage Pass-Through Certificates, WMALT Series 2006-Ar1), Master Mortgage Loan Purchase and Servicing Agreement
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section 4.25. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section 4.25.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.25 and with Sections 2(b6.04, 6.06, 9.01(d)(iii), 2(c)(iii9.01(d)(v), 2(c)(v9.01(d)(vi), 2(c)(vi), 2(c)(vii), 2(d), 9.01(d)(vii) and 2(e9.01(e) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(d)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), 6.04 and any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(e) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate other certifications required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
Appears in 2 contracts
Samples: Trust Agreement (BCAPB LLC Trust 2007-Ab1), Trust Agreement (BCAP LLC Trust 2007-Aa4)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section 10.07. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section 10.07.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 10.07, with Sections 10.02, 10.03(d), (f), (g) and (h), 10.04, 10.05 and 10.07 of this Agreement and with Sections 2(b)4.09, 2(c)(iii)4.10, 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 4.11 and 2(e) of this Amendment Reg AB4.12 to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv10.03(e) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)10.05, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 10.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 10.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, such Depositor and such Master Servicer) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) each discrete function identified in Item 1122(d) of Regulation AB which is being performed by each such Subcontractor (iii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Civ) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Biii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 10.04 and 10.06 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate the other certifications required to be delivered by such Participating Entity Subcontractor under Section 2(e)10.06, in each case as and when required to be delivered.
Appears in 2 contracts
Samples: Master Seller’s Purchase, Warranties and Interim Servicing Agreement (MASTR Asset Securitization Trust 2006-2), Master Seller’s Purchase, Warranties and Interim Servicing Agreement (MASTR Alternative Loan Trust 2006-3)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit authorize any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the PurchaserOwner, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser Owner and any Depositor to comply with the provisions of this Section and with Sections 2(b2.02, 2.03(c), 2(c)(iii(e), 2(c)(v(f) and (g), 2(c)(vi)2.04, 2(c)(vii), 2(d), 2.05 and 2(e) 2.07 of this Amendment Reg ABRegulation AB Addendum to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv2.03(d) of this Amendment Reg ABRegulation AB Addendum. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser Owner and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)2.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 2.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 2.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the PurchaserOwner, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon written request provide to the Purchaser Owner and any Master Servicer, or any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) if a Master Servicer has not been identified for the related Securitization Transaction, a written description (in form and substance reasonably satisfactory to such parties) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities, “participating in the servicing function” within the meaning of Item 1122 of Regulation AB and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The .
(c) As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser Owner and any Depositor to comply with the provisions of Section 2(e) Sections 2.05 and 2.07 of this AgreementRegulation AB Addendum to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Owner and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)2.05, in each case as and when required to be delivered.
Appears in 2 contracts
Samples: Flow Mortgage Loan Servicing Rights Sale and Servicing Agreement (Sequoia Mortgage Trust 2012-1), Flow Mortgage Loan Servicing Rights Sale and Servicing Agreement (Sequoia Mortgage Trust 2011-2)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section 4.24. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section 4.24.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.24 and with Sections 2(b6.04, 6.06, 9.01(d)(iii), 2(c)(iii9.01(d)(v), 2(c)(v9.01(d)(vii), 2(c)(vi), 2(c)(vii), 2(d), 9.01(d)(viii) and 2(e9.01(e) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(d)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), 6.04 and any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(e) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate other certifications required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
Appears in 2 contracts
Samples: Seller's Warranties and Servicing Agreement (RBSGC 2007-A), Seller's Warranties and Servicing Agreement (RBSGC Mortgage Loan Trust 2007-B)
Use of Subservicers and Subcontractors. (a) The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer Servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ib) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer Servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iid) of this Subsection (f)Section.
(ib) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b3.01(p), 2(c)(iii3.01(s), 2(c)(v)6.04, 2(c)(vi), 2(c)(vii), 2(d), 6.07 and 2(e) 11.18 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv3.01(r) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser Purchaser, any Master Servicer and any Depositor any servicer compliance statement Annual Statement of Compliance required to be delivered by such Subservicer under Section 2(d6.04(a), any assessment Assessment of compliance Compliance and attestation Attestation Report required to be delivered by such Subservicer under Section 2(e) 6.07 and any certification Annual Certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e6.04(b) as and when required to be delivereddelivered under this Agreement.
(iic) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, any Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The .
(d) As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 6.07 and 11.18 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and any Depositor any Assessment of Compliance and Attestation Report and the Depositor any assessment of compliance and attestation and certificate other certificates required to be delivered by such Participating Entity Subservicer and such Subcontractor under Section 2(e)6.07, in each case as and when required to be delivered.
24. Article XI of the Agreement is hereby amended effective as of the date hereof by adding the following new Section 11.20:
Appears in 2 contracts
Samples: Purchase, Warranties and Servicing Agreement (Prime Mortgage Trust 2007-1), Pooling and Servicing Agreement (Prime Mortgage Trust 2006-2)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b2.02, 2.03(c) and (e), 2(c)(iii)2.04, 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 2.05 and 2(e) 2.07 of this Amendment Reg ABAB Addendum to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv2.03( d) of this Amendment Reg ABAB Addendum. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)2.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 2.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 2.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon written request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance reasonably satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (B) which (if any) Subcontractor that is "participating in the servicing function" within the meaning of such Subcontractors are Participating Entities, Item 1122 of Regulation AB and (Cii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bi) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 2.05 and 2.07 of this AgreementReg AB Addendum to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)2.05, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Master Servicing and Trust Agreement (GSAA Home Equity Trust 2006-16)
Use of Subservicers and Subcontractors. The Company Servicer shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer Servicer under this Agreement or any related Reconstitution Agreement unless the Company Servicer complies with the provisions of paragraph (ia) of this Subsection (f)33.07. The Company Servicer shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer Servicer under this Agreement or any related Reconstitution Agreement unless the Company Servicer complies with the provisions of paragraph (iib) of this Subsection (f)33.07.
(ia) It shall not be necessary for the Company Servicer to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the Company The Servicer shall cause any Subservicer used by the Company Seller (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section Subsection 33.07, with Subsections 33.02, 33.04(a) , (c), (d) and (e), 33.05, 33.06 and 33.08(b) and (c) of this Agreement and with Sections 2(b)11.29, 2(c)(iii)11.30, 2(c)(v)11.31, 2(c)(vi)11.32 of the Servicing Addendum, 2(c)(vii), 2(d), and 2(e) of this Amendment Reg ABto the same extent as if such Subservicer were the Seller, and to provide the information required with respect to such Subservicer under Section 2(c)(ivSubsection 33.04(b) of this Amendment Reg ABAgreement. The Company Servicer shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)Subsection 33.05, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) Subsection 33.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) Subsection 33.06 as and when required to be delivered.
(ii) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity identified pursuant to clause (B) of this paragraph. The Company shall cause any such Participating Entity used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) of this Agreement. The Company shall be responsible for obtaining from each Participating Entity and delivering to the Purchaser, the Master Servicer and the Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity under Section 2(e), in each case as and when required to be delivered.
Appears in 1 contract
Samples: Loan Purchase and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (i) of this Subsection subsection (f). The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related applicable Reconstitution Agreement unless the Company complies with the provisions of paragraph (ii) of this Subsection subsection (f).
(i) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b), 2(c)(iii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), ) and 2(e) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) as and when required to be delivered.
(ii) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (B) of this paragraph; provided that such request shall be made for the purpose of satisfying the Depositor's reporting obligation under the Securities Act and the Exchange Act with respect to such information. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e), in each case as and when required to be delivered.
Appears in 1 contract
Samples: Flow Seller's Warranties and Servicing Agreement (Lehman XS Trust Series 2006-10n)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b13.03, 13.04(c) and (e), 2(c)(iii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 13.05,13.06 and 2(e) 13.08 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv13.04(d) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)13.05, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 13.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 13.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 13.06 and 13.08 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)13.06, in each case as and when required to be delivered.
Appears in 1 contract
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section 4.25. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section 4.25.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser 50 and any Depositor to comply with the provisions of this Section 4.25 and with Sections 2(b6.04, 6.06, 9.01(d)(iii), 2(c)(iii9.01(d)(v), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 9.01(d)(vi) and 2(e9.01(e) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(d)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), 6.04 and any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(e) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Seller's Warranties and Servicing Agreement (Lehman XS Trust Series 2006-10n)
Use of Subservicers and Subcontractors. (a) The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ib) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iid) of this Subsection (f)Section.
(ib) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b3.01(p), 2(c)(iii3.01(s), 2(c)(v)6.04, 2(c)(vi), 2(c)(vii), 2(d), 6.07 and 2(e) 11.18 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv3.01(r) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser Purchaser, any Master Servicer and any Depositor any servicer compliance statement Annual Statement of Compliance required to be delivered by such Subservicer under Section 2(d6.04(a), any assessment Assessment of compliance Compliance and attestation Attestation Report required to be delivered by such Subservicer under Section 2(e) 6.07 and any certification Annual Certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e6.04(b) as and when required to be delivered.
(iic) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, any Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The .
(d) As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 6.07 and 11.18 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and any Depositor any Assessment of Compliance and Attestation Report and the Depositor any assessment of compliance and attestation and certificate other certificates required to be delivered by such Participating Entity Subservicer and such Subcontractor under Section 2(e)6.07, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac5)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section 4.25. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section 4.25.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.25 and with Sections 2(b6.04, 6.06, 9.01(d)(iii), 2(c)(iii9.01(d)(v), 2(c)(v9.01(d)(vi), 2(c)(vi9.01(d)(vii), 2(c)(vii), 2(d), 9.01(d)(viii) and 2(e9.01(e) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(d)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), 6.04 and any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, such Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(e) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate the other certifications required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
Appears in 1 contract
Use of Subservicers and Subcontractors. (a) The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ib) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iid) of this Subsection (f)Section.
(ib) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b3.01(p), 2(c)(iii3.01(s), 2(c)(v)6.04, 2(c)(vi), 2(c)(vii), 2(d), 6.07 and 2(e) 11.18 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv3.01(r) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser Purchaser, any Master Servicer and any Depositor any servicer compliance statement Annual Statement of Compliance required to be delivered by such Subservicer under Section 2(d6.04(a), any assessment Assessment of compliance Compliance and attestation Attestation Report required to be delivered by such Subservicer under Section 2(e) 6.07 and any certification Annual Certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e6.04(b) as and when required to be delivered.
(iic) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, any Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The .
(d) As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 6.07 and 11.18 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and any Depositor any Assessment of Compliance and Attestation Report and the Depositor any assessment of compliance and attestation and certificate other certificates required to be delivered by such Participating Entity Subservicer and such Subcontractor under Section 2(e)6.07, in each case as and when required to be delivered.
23. Article XI of the Agreement is hereby amended effective as of the date hereof by adding the following new Section 11.20:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Prime Mortgage Trust 2006-Cl1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section 4.28. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section 4.28.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.28 and with Sections 2(b6.04, 6.06, 9.01(f)(iii), 2(c)(iii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 9.01(f)(v) and 2(e9.01(g) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(f)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), 6.04 and any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(g) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Master Seller’s Warranties and Servicing Agreement (GSR Mortgage Loan Trust 2007-Ar1)
Use of Subservicers and Subcontractors. (a) The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related applicable Reconstitution Agreement related thereto unless the Company complies with the provisions of paragraph (ib) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related applicable Reconstitution Agreement related thereto unless the Company complies with the provisions of paragraph (iid) of this Subsection (f)Section.
(ib) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b3.01(p), 2(c)(iii3.01(s), 2(c)(v)6.04, 2(c)(vi), 2(c)(vii), 2(d), 6.07 and 2(e) 11.18 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv3.01(r) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser Purchaser, any Master Servicer and any Depositor any servicer compliance statement Annual Statement of Compliance required to be delivered by such Subservicer under Section 2(d6.04(a), any assessment Assessment of compliance Compliance and attestation Attestation Report required to be delivered by such Subservicer under Section 2(e) 6.07 and any certification Annual Certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e6.04(b) as and when required to be delivered.
(iic) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, any Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The .
(d) As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 6.07 and 11.18 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and any Depositor any Assessment of Compliance and Attestation Report and the Depositor any assessment of compliance and attestation and certificate other certificates required to be delivered by such Participating Entity Subservicer and such Subcontractor under Section 2(e)6.07, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac6)
Use of Subservicers and Subcontractors. The Company Servicer shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer Servicer under this Agreement or any related Reconstitution Agreement unless the Company Servicer complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company Servicer shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer Servicer under this Agreement or any related Reconstitution Agreement unless the Company Servicer complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company Servicer to seek the consent of the Purchaser, the Master Servicer Assignee or any Depositor to the utilization of any Subservicer. If required by Regulation AB, after reasonable notice from the Company Assignee of the parties involved in the Assignee’s Securitization Transaction, the Servicer shall cause any Subservicer used by the Company Servicer (or by any Subservicer) for the benefit of the Purchaser Assignee and any Depositor to comply with the provisions of this Section and with Sections 2(b10.02, 10.03(c) and (e), 2(c)(iii)10.04, 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 10.05 and 2(e) 10.07 of this Amendment Reg ABAgreement, and to provide the information required with respect to such Subservicer under Section 2(c)(iv10.03(d) of this Amendment Reg ABAgreement. The Company Servicer shall be responsible for obtaining from each Subservicer and delivering to the Purchaser Assignee and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)10.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 10.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 10.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company Servicer to seek the consent of the Purchaser, any Master Servicer, Assignee or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser Assignee of the parties involved in the PurchaserAssignee’s Securitization Transaction, the Company Servicer shall promptly upon request provide to the Purchaser Assignee and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description of the role and function of each Subcontractor utilized by the Company Servicer or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity identified pursuant to clause (Bii) of this paragraph. The Company Servicer shall cause any such Participating Entity used by the Company Servicer (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section Sections 10.05 and 10.07 2(e) of this Agreement. The Company Servicer shall be responsible for obtaining from each Participating Entity and delivering to the Purchaser, the Master Servicer Assignee and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity under Section 2(e)10.05, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Mortgage Loan Purchase and Servicing Agreement (Sequoia Residential Funding Inc)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b2, 3(c) and (e), 2(c)(iii)4, 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d)5, and 2(e) 7 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv3(d) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)4, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 5 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 5 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 5 and 7 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)5, in each case as and when required to be delivered.
Appears in 1 contract
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b2.02, 2.03(c) and (e), 2(c)(iii)2.04, 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 2.05 and 2(e) 2.07 of this Amendment Reg ABAB Addendum to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv2.03(d) of this Amendment Reg ABAB Addendum. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)2.04 of this Reg AB Addendum, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 2.05 of this Reg AB Addendum and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 2.05 of this Reg AB Addendum as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 2.05 and 2.07 of this AgreementReg AB Addendum to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)2.05 of this Reg AB Addendum, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Flow Sale and Servicing Agreement (Lares Asset Securitization, Inc.)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section 4.24. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section 4.24.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.24 and with Sections 2(b6.04, 6.06, 9.01(e)(iii), 2(c)(iii9.01(e)(v), 2(c)(v9.01(e)(vii), 2(c)(vi), 2(c)(vii), 2(d), 9.01(e)(viii) and 2(e9.01(f) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(e)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), 6.04 and any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, such Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(f) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate other certifications required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
Appears in 1 contract
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit authorize any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b2.02, 2.03(c) and (e), 2(c)(iii)2.04, 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 2.05 and 2(e) 2.07 of this Amendment Reg ABAB Addendum to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv2.03( d) of this Amendment Reg ABAB Addendum. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser Purchaser, any Master Servicer and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)2.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 2.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 2.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon written request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance reasonably satisfactory to the Purchaser, any Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (B) which (if any) Subcontractor that is “participating in the servicing function” within the meaning of such Subcontractors are Participating Entities, Item 1122 of Regulation AB as determined by the Company and (Cii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bi) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser Purchaser, any Master Servicer and any Depositor to comply with the provisions of Section 2(e) Sections 2.05 and 2.07 of this AgreementReg AB Addendum to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the any Master Servicer and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)2.05, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac6)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section 4.29. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section 4.29.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.29 and with Sections 2(b6.04, 6.06, 9.01(d)(iii), 2(c)(iii9.01(d)(v), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 9.01(d)(vi) and 2(e9.01(e) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(d)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), 6.04 and any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(e) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
Appears in 1 contract
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (i) of this Subsection (f). The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ii) of this Subsection (f).
(i) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer or any Depositor to the utilization of any Subservicer, provided however, that the Company shall obtain such consent from the Purchaser when required by and in accordance with the Existing Agreement. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b), 2(c)(iii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), and 2(e) of this Amendment Reg ABAgreement , and to provide the information required with respect to such Subservicer under Section 2(c)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) as and when required to be delivered.
(ii) It shall not be necessary for the Company to seek the consent of the Purchaser, any the Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor, provided however, that the Company shall obtain such consent from the Purchaser when required by and in accordance with the Existing Agreement. , If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer the Master Servicer or administrator) a written description of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity identified pursuant to clause (B) of this paragraph. The Company shall cause any such Participating Entity used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) of this Agreement. The Company shall be responsible for obtaining from each Participating Entity and delivering to the Purchaser, the Master Servicer and the Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity under Section 2(e), in each case as and when required to be delivered.
Appears in 1 contract
Samples: Mortgage Loan Purchase and Servicing Agreement (Sequoia Mortgage Trust 2006-1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (i) of this Subsection (f). The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ii) of this Subsection (f).
(i) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b), 2(c)(iii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), and 2(e) of this Amendment Reg ABAgreement, and to provide the information required with respect to such Subservicer under Section 2(c)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) as and when required to be delivered.
(ii) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s 's Securitization Transaction, the Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity identified pursuant to clause (B) of this paragraph. The Company shall cause any such Participating Entity used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) of this Agreement. The Company shall be responsible for obtaining from each Participating Entity and delivering to the Purchaser, the Master Servicer and the Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity under Section 2(e), in each case as and when required to be delivered.
Appears in 1 contract
Samples: Master Mortgage Loan Purchase and Servicing Agreement (Luminent Mortgage Trust 2006-6)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (i) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ii) of this Subsection (f)Section.
(i) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b), 2(c)(iii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 2(e) and 2(e2(g) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) as and when required to be delivered.
(ii) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (B) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section Sections 2(e) and 2(g) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e), in each case as and when required to be delivered.
Appears in 1 contract
Samples: Master Mortgage Loan Sale and Servicing Agreement (Lehman XS Trust Series 2006-12n)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.26 and with Sections 2(b6.04, 6.06, 9.01(e)(iii), 2(c)(iii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 9.01(e)(v) and 2(e9.01(e)(vi) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(e)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)6.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, such Depositor and such Master Servicer) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(f) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate the other certifications required to be delivered by such Participating Entity Subservicer and such Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
(vii) Section 5.02 (“Statements to the Purchaser”) of the Servicing Agreement is hereby deleted in its entirety and replaced by the following: On or before the tenth calendar day of each month (or if such day is not a Business Day, the immediately preceding Business Day), the Company shall furnish to the Purchaser or its designee a delinquency report in the form set forth in Exhibit J-1, a monthly remittance advice in the form set forth in Exhibit J-2, and a realized loss report in the form set forth in Exhibit J-3, each in a mutually agreeable electronic format, as to the latest Due Period, together with such other information with respect to the Mortgage Loans as the Purchaser may reasonably require to allocate distributions made pursuant to this Agreement and to provide appropriate statements in connection therewith.
(viii) Exhibits J-1, J-2 and J-3 to the Servicing Agreement are hereby added immediately following Exhibit I, substantially in the Form of Attachment 3 to this Agreement.
(ix) Exhibit E to the Servicing Agreement is hereby deleted in its entirety and replaced by new Exhibit E, substantially in the form of Attachment 4 to this Agreement.
Section 6.04 to the Servicing Agreement is hereby deleted in its entirety and replaced with the following:
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (MASTR Alternative Loan Trust 2006-1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (i) of this Subsection (f). The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ii) of this Subsection (f).
(i) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b), 2(c)(iii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), and 2(e) of this Amendment Reg ABAgreement , and to provide the information required with respect to such Subservicer under Section 2(c)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) as and when required to be delivered.
(ii) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity identified pursuant to clause (B) of this paragraph. The Company shall cause any such Participating Entity used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) of this Agreement. The Company shall be responsible for obtaining from each Participating Entity and delivering to the Purchaser, the Master Servicer and the Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity under Section 2(e), in each case as and when required to be delivered.
Appears in 1 contract
Samples: Master Mortgage Loan Purchase and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-8)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser Purchaser, any Master Servicer and any Depositor to comply with the provisions of this Section and with Sections 2(bSections, 13.02, 13.03(c), 2(c)(iii(e), 2(c)(v(f) and (g), 2(c)(vi)13.04, 2(c)(vii), 2(d), 13.05 and 2(e) 13.07 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv13.03(d) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)13.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 13.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 13.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, such Depositor and such Master Servicer) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 13.05 and 13.07 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate the other certifications required to be delivered by such Participating Entity Subcontractor under Section 2(e)13.05, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Master Seller’s Warranties and Servicing Agreement (MASTR Asset Securitization Trust 2007-1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit authorize any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b2.02, 2.03(c), 2(c)(iii(e), 2(c)(v(f) and (g), 2(c)(vi)2.04, 2(c)(vii), 2(d), 2.05 and 2(e) 2.07 of this Amendment Reg ABAB Addendum to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv2.03( d) of this Amendment Reg ABAB Addendum. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)2.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 2.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 2.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon written request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance reasonably satisfactory to the Purchaser, such Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (B) which (if any) Subcontractor that is “participating in the servicing function” within the meaning of such Subcontractors are Participating Entities, Item 1122 of Regulation AB as determined by the Company and (Cii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bi) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 2.05 and 2.07 of this AgreementReg AB Addendum to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and compliance, attestation and certificate other certifications required to be delivered by such Participating Entity Subcontractor under Section 2(e)2.05, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Seller’s Purchase, Warranties and Servicing Agreement (Prime Mortgage Trust 2007-1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit authorize any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b2.02, 2.03(c), 2(c)(iii(e), 2(c)(v(f) and (g), 2(c)(vi)2.04, 2(c)(vii), 2(d), 2.05 and 2(e) 2.07 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv2.03(d) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)2.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 2.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 2.05 as and when required to be delivered.. For the purposes of clarification, the covenants of this clause (i) are applicable only with respect to those Mortgage Loans being securitized in a Securitization Transaction pursuant to which the Company has entered into a Reconstitution Agreement..
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon within five (5) days of a request therefor provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser, such Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, "participating in the servicing function" within the meaning of Item 1122 of Regulation AB and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (B) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 2.05 and 2.07 of this AgreementReg AB Addendum to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate the other certifications required to be delivered by such Participating Entity Subservicer and Subcontractor under Section 2(e)2.05, in each case as and when required to be delivered. For the purposes of clarification, the covenants of this clause (b) are applicable only with respect to those Mortgage Loans being securitized in a Securitization Transaction pursuant to which the Company has entered into a Reconstitution Agreement.
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-5ar)
Use of Subservicers and Subcontractors. The Company Seller shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company Seller as servicer under this Agreement or any related Reconstitution Agreement unless the Company Seller complies with the provisions of paragraph (i) of this Subsection (f)Subsection. The Company Seller shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company Seller as servicer under this Agreement or any related Reconstitution Agreement unless the Company Seller complies with the provisions of paragraph (ii) of this Subsection (f).
(i) Subsection. It shall not be necessary for the Company Seller to seek the consent of the Purchaser or Purchaser, the Master Servicer or any Depositor 's Agent to the utilization of any Subservicer. If required by necessary for compliance with Regulation AB, and after reasonable notice from Purchaser of the Company parties involved in Purchaser's Securitization Transaction and their threshold percentage involvement, Seller shall cause any Subservicer used by the Company Seller (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section Subsection and with Sections 2(bSubsections 33.03(c), 2(c)(iii(e), 2(c)(v(f) and (g), 2(c)(vi), 2(c)(vii), 2(d), 33.04 and 2(e) 33.05 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Seller, and to provide the information required with respect to such Subservicer under Section 2(c)(ivSubsection 33.03(d) of this Amendment Reg Agreement. Without regard to any threshold percentage specified in Item 1122(d) of Regulation AB. The Company , the Seller shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)Subsection 33.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) Subsection 33.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) Subsection 33.05 as and when required to be delivered.
(ii) . It shall not be necessary for the Company Seller to seek the consent of the Purchaser or Purchaser, any Master Servicer, or any Depositor 's Agent to the utilization of any Subcontractor. If required by necessary for compliance with Regulation AB, and after reasonable notice from the Purchaser of the parties involved in the Purchaser’s 's Securitization TransactionTransaction and their threshold percentage involvement, the Company Seller shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) Purchaser's Agent a written description of the role and function of each Subcontractor utilized by the Company Seller or any Subservicer, specifying (A) Subservicer "participating in the identity servicing function" within the meaning of each such Subcontractor, (B) which (if any) Item 1122 of such Subcontractors are Participating EntitiesRegulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The Company Seller shall cause any such Participating Entity Subcontractor used by the Company Seller (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Subsection 33.05 of this Agreement. The Company Seller shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate the other certifications required to be delivered by such Participating Entity Subcontractor under Section 2(e)Subsection 33.05, in each case as and when required to be delivereddelivered pursuant to this Agreement. With respect to any Subservicer or Subcontractor, the Seller shall provide the indemnifications set forth in Subsection 33.07(b)(i) and (ii) of this Agreement on behalf of such Subservicer or Subcontractor. With respect to the Subservicer only, the Seller shall (i) represent and warrant to the Purchaser that no Subservicer is in breach of any of the representations set forth in Subsection 33.02(a) of this Agreement or disclose otherwise, in writing, to the Purchaser, 61 and (ii) provide such information as may be requested pursuant to Subsection 33.02(b) of this Agreement.
Appears in 1 contract
Use of Subservicers and Subcontractors. The Company Seller shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company Seller as servicer under this Agreement or any related applicable Reconstitution Agreement related thereto unless the Company Seller complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company Seller shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company Seller as servicer under this Agreement or any related applicable Reconstitution Agreement related thereto unless the Company Seller complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company Seller to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation necessary for compliance with Reg. AB, and after reasonable notice from Purchaser of the Company parties involved in Purchaser’s Securitization Transaction and their threshold percentage involvement, Seller shall cause any Subservicer used by the Company Seller (or by any SubservicerSubservicer of Seller) to for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b11A.02, 11A.03(c), 2(c)(iii(e), 2(c)(v(f) and (g), 2(c)(vi)11A.04, 2(c)(vii), 2(d), 11A.05 and 2(e) 11A.07 of this Amendment Reg ABAgreement as if such Subservicer were Seller, and to provide the information required with respect to such Subservicer under Section 2(c)(iv11A.03(d) of this Amendment Reg ABAgreement. The Company Seller shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)11A .04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 11A .05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 11A .05 as and when required to be delivereddelivered pursuant to this Agreement.
(iib) It shall not be necessary for the Company Seller to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor Purchaser’s Agent to the utilization of any Subcontractor. If required by Regulation necessary for compliance with Reg. AB, and after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization TransactionTransaction and their threshold percentage involvement, the Company Seller shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the DepositorPurchaser, such as a master servicer or administratorMaster Servicer) a written description of the role and function of each Subcontractor utilized by the Company Seller or any SubservicerSubservicer who is “participating in the servicing function” within the meaning of Item 1122 of Regulation AB and Instruction 2 to the Instructions to Item 1122, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (B) of this paragraph. The Company .
(c) As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function within the meaning of Item 1122 of Regulation AB, Seller shall cause any such Participating Entity Subcontractor used by the Company Seller (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 11A.05 and 11A. 07 of this AgreementAgreement to the same extent as if such Subcontractor were Seller. The Company Seller shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser and Purchaser, the Master Servicer and the Depositor ’s Agent any such assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor and such Subservicer under Section 2(e)11.04, in each case as and when required to be delivereddelivered pursuant to this Agreement.
Appears in 1 contract
Samples: Master Mortgage Loan Sale and Servicing Agreement (Sequoia Mortgage Trust 2006-1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b1.02, 1.03(c) and (e), 2(c)(iii)1.04, 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 1.05 and 2(e) 1.07 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv1.03(d) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)1.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 1.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 1.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 1.05 and 1.07 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)1.05, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Mortgage Loan Seller/Servicer Agreement (Luminent Mortgage Trust 2006-7)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (i) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ii) of this Subsection (f)Section.
(i) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Owner or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser Owner and any Depositor to comply with the provisions of this Section and with Sections 2(b13.02, 13.03(iii), 2(c)(iii13.03(v), 2(c)(v)13.04, 2(c)(vi), 2(c)(vii), 2(d), 13.05 and 2(e) 13.07 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv13.03(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser Owner and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)13.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 13.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 13.05 as and when required to be delivered.
(ii) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity identified pursuant to clause (B) of this paragraph. The Company shall cause any such Participating Entity used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) of this Agreement. The Company shall be responsible for obtaining from each Participating Entity and delivering to the Purchaser, the Master Servicer and the Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity under Section 2(e), in each case as and when required to be delivered.
Appears in 1 contract
Use of Subservicers and Subcontractors. The Company Servicer shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer Servicer under this Agreement or any related Reconstitution Agreement unless the Company Servicer complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company Servicer shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer Servicer under this Agreement or any related Reconstitution Agreement unless the Company Servicer complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company Servicer to seek the consent of the Purchaser, the Master Servicer Assignee or any Depositor to the utilization of any Subservicer. If required by Regulation AB, after reasonable notice from the Company Assignee of the parties involved in the Assignee’s Securitization Transaction, the Servicer shall cause any Subservicer used by the Company Servicer (or by any Subservicer) for the benefit of the Purchaser Assignee and any Depositor to comply with the provisions of this Section and with Sections 2(bSubsections 35.02, 35.03(c) and (e), 2(c)(iii)35.04, 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 35.05 and 2(e) 35.07 of this Amendment Reg ABAgreement, and to provide the information required with respect to such Subservicer under Section 2(c)(ivSubsection 35.03(d) of this Amendment Reg ABAgreement. The Company Servicer shall be responsible for obtaining from each Subservicer and delivering to the Purchaser Assignee and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)Subsection 35.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) Subsection 35.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) Subsection 35.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company Servicer to seek the consent of the Purchaser, any Master Servicer, Assignee or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser Assignee of the parties involved in the PurchaserAssignee’s Securitization Transaction, the Company Servicer shall promptly upon request provide to the Purchaser Assignee and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description of the role and function of each Subcontractor utilized by the Company Servicer or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity identified pursuant to clause (Bii) of this paragraph. The Company Servicer shall cause any such Participating Entity used by the Company Servicer (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section Subsections 35.05 and 35.07 2(e) of this Agreement. The Company Servicer shall be responsible for obtaining from each Participating Entity and delivering to the Purchaser, the Master Servicer Assignee and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity under Section 2(e)Subsection 35.05, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Mortgage Loan Purchase and Servicing Agreement (Sequoia Residential Funding Inc)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b13.2, 13.3(c) and (e), 2(c)(iii)13.4, 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 13.5 and 2(e) 13.7 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv13.3(d) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)13.4, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 13.5 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 13.5 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 13.5 and 13.7 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)13.5, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (GSAA Home Equity Trust 2006-1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit authorize any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f).
(i) Section. It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b2.02, 2.03(c) and (e), 2(c)(iii)2.04, 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 2.05 and 2(e) 2.07 of this Amendment Reg ABAB Addendum to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv2.03( d) of this Amendment Reg ABAB Addendum. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser Purchaser, any Master Servicer and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)2.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 2.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 2.05 as and when required to be delivered.
(ii) . It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon written request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance reasonably satisfactory to the Purchaser, any Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (B) which (if any) Subcontractor that is "participating in the servicing function" within the meaning of such Subcontractors are Participating Entities, Item 1122 of Regulation AB as determined by the Company and (Cii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bi) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser Purchaser, any Master Servicer and any Depositor to comply with the provisions of Section 2(e) Sections 2.05 and 2.07 of this AgreementReg AB Addendum to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the any Master Servicer and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)2.05, in each case as and when required to be delivered.. Indemnification; Remedies. The Company shall indemnify the Purchaser, each affiliate of the Purchaser, and each of the following parties participating in a Securitization Transaction: each Sponsor; each Person (including, but not limited to, any Master Servicer, if applicable) responsible for the preparation, execution or filing of any report required to be filed with the Commission with respect to such Securitization Transaction, or for execution of a certification pursuant to Rule 13a-14(d) or Rule 15d-14(d) under the Exchange Act with respect to such Securitization Transaction; each broker dealer acting as underwriter, placement agent or initial purchaser, each Person who controls any of such parties or the Depositor (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act); and the respective present and former directors, officers, employees, agents and affiliates of each of the foregoing and of the Depositor (each, an "Indemnified Party"), and shall hold each of them harmless from and against any claims, losses, damages, penalties, fines, forfeitures, legal fees and expenses and related costs, judgments, and any other costs, fees and expenses that any of them may sustain arising out of or based upon:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b2.02, 2.03(c) and (e), 2(c)(iii)2.04, 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 2.05 and 2(e) 2.07 of this Amendment Reg ABRegulation AB Compliance Addendum to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv2.03( d) of this Amendment Reg ABRegulation AB Compliance Addendum. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)2.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 2.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 2.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon written request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance reasonably satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (B) which (if any) Subcontractor that is “participating in the servicing function” within the meaning of such Subcontractors are Participating Entities, Item 1122 of Regulation AB as determined by the Company and (Cii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bi) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 2.05 and 2.07 of this AgreementRegulation AB Compliance Addendum to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)2.05, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Lehman XS Trust Series 2006-14n)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section 4.23. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section 4.23.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.23 and with Sections 2(b6.04, 6.06, 9.01(e)(iii), 2(c)(iii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 9.01(e)(v) and 2(e9.01(f) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(l)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), 6.04 and any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, such Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The Any subservicing arrangement and the terms of the related subservicing agreement must provide for the servicing of such Mortgage Loans in a manner consistent with the servicing arrangements contemplated hereunder. Each Subservicer shall be 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 Subservicer to perform its obligations hereunder and under the subservicing agreement. Notwithstanding the provisions of any subservicing agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Company or a Subservicer or reference to actions taken through the Company or otherwise, the Company shall remain obligated and liable to the Purchaser and its successors and assigns for the servicing and administration of the Mortgage Loans in accordance with the provisions of this Agreement without diminution of such obligation or liability by virtue of such subservicing agreements or arrangements or by virtue of indemnification from the Subservicer and to the same extent and under the same terms and conditions as if the Company alone were servicing and administering the Mortgage Loans. Every subservicing agreement entered into by the Company shall contain a provision giving the successor servicer the option to terminate such agreement, without fee, in the event a successor servicer is appointed. All actions of each Subservicer performed pursuant to the related subservicing agreement shall be performed as an agent of the Company with the same force and effect as if performed directly by the Company. For purposes of this Agreement, the Company shall be deemed to have received any collections, recoveries or payments with respect to the Mortgage Loans that are received by a Subservicer regardless of whether such payments are remitted by the Subservicer to the Company. For purposes of this Agreement, the Assignment Agreements shall not be deemed to be subservicing agreements. As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(f) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate other certifications required to be delivered by such Participating Entity Subservicer and such Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered. Any subservicing agreement and any other transactions or services relating to the Mortgage Loans involving a Subservicer shall be deemed to be between the Subservicer and the Company alone and the Purchaser shall not be deemed a party thereto and shall have no claims, rights, obligations, duties or liabilities with respect to any Subservicer. In connection with the assumption of the responsibilities, duties and liabilities and of the authority, power and rights of the Company hereunder by a successor servicer pursuant to Section 12.01 of this Agreement, it is understood and agreed that the Company’s rights and obligations under any subservicing agreement then in force between the Company and a Subservicer shall be assumed simultaneously by such successor servicer without act or deed on the part of such successor servicer; provided, however, that any successor servicer may terminate the Subservicer. The Company shall, upon the reasonable request of the Purchaser, but at its own expense, deliver to the assuming party documents and records relating to each subservicing agreement and an accounting of amounts collected and held by it and otherwise use its best efforts to effect the orderly and efficient transfer of the subservicing agreements to the assuming party.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HSI Asset Loan Obligation Trust 2007-Wf1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section 4.29. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section 4.29.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.29 and with Sections 2(b6.04, 6.06, 9.01(d)(iii), 2(c)(iii9.01(d)(v), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 9.0l(d)(vi) and 2(e9.01(e) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(d)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), 6.04 and any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(e) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Seller's Warranties and Servicing Agreement (Sasco 2006-3h)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer "participating in the Servicing function" within the meaning of Item 1122 of Regulation AB, to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any SubcontractorSubcontractor "participating in the Servicing function" within the meaning of Item 1122 of Regulation AB, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, such Subcontractor to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the PurchaserOwner, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser Owner and any Depositor to comply with the provisions of this Section and with Sections 2(b8.02, 8.03(c), 2(c)(iii(e), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), (f) and 2(e(g) and 3.14 of this Amendment Reg Agreement to the same extent as if such Subservicer were the Company, to the extent required under Regulation AB, and to provide the information required with respect to such Subservicer under Section 2(c)(iv8.03(d) of this Amendment Reg AB. Agreement The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser Owner and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)3.14 and Regulation AB, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 3.14 and Regulation AB and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 3.14 as and when required to be delivereddelivered under Regulation AB.
(iib) It shall not be necessary for the Company to seek the consent of the PurchaserOwner, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by under Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the Company shall promptly upon request provide to the Purchaser Owner, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance reasonably satisfactory to the Owner, such Depositor and such Master Servicer) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser Owner and any Depositor to comply with the applicable provisions of Section 2(e) Sections 8.03 and 8.05 of this Agreement. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Owner and the any Depositor any assessment of compliance and attestation and certificate the other certifications required to be delivered by such Participating Entity Subservicer and such Subcontractor under Section 2(e)3.14, in each case as and when required to be delivereddelivered under Regulation AB.
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (HSI Asset Loan Obligation Trust 2007-Ar1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit authorize any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b2.02, 2.03(c), 2(c)(iii(e), 2(c)(v(f) and (g), 2(c)(vi)2.04, 2(c)(vii), 2(d), 2.05 and 2(e) 2.07 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv2.03(d) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)2.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 2.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 2.05 as and when required to be delivered.. For the purposes of clarification, the covenants of this clause (i) are applicable only with respect to those Mortgage Loans being securitized in a Securitization Transaction pursuant to which the Company has entered into a Reconstitution Agreement..
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon within five (5) days of a request therefor provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser, such Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, “participating in the servicing function” within the meaning of Item 1122 of Regulation AB and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (B) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 2.05 and 2.07 of this Agreement. The Company shall be responsible for obtaining from each Participating Entity and delivering Reg AB Addendum to the Purchaser, the Master Servicer and the Depositor any assessment of compliance and attestation and certificate required to be delivered by same extent as if such Participating Entity under Section 2(e), in each case as and when required to be delivered.Subcontractor were the
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b13.02, 13.03(c), 2(c)(iii(e), 2(c)(v(f) and (g), 2(c)(vi)6.04, 2(c)(vii), 2(d)6.05, and 2(e) 13.05 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv13.03(d) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)6.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, any Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB as reasonably determined by the Company, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 6.05 and 13.05 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate the other certifications required to be delivered by such Participating Entity Subservicer and such Subcontractor under Section 2(e)6.05, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Flow Master Seller’s Warranties and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-S1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section 4.25. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section 4.25.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.25 and with Sections 2(b6.04, 6.06, 9.01(d)(iii), 2(c)(iii9.01(d)(v), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 9.01(d)(vi) and 2(e9.01(e) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(d)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), 6.04 and any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(e) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Servicing Agreement (Thornburg Mortgage Securities Trust 2006-5)
Use of Subservicers and Subcontractors. (a) The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related applicable Reconstitution Agreement related thereto unless the Company complies with the provisions of paragraph (ib) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related applicable Reconstitution Agreement related thereto unless the Company complies with the provisions of paragraph (iid) of this Subsection (f)Section.
(ib) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b3.01(p), 2(c)(iii3.01(s), 2(c)(v)6.04, 2(c)(vi), 2(c)(vii), 2(d), 6.07 and 2(e) 11.18 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv3.01(r) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser Purchaser, any Master Servicer and any Depositor any servicer compliance statement Annual Statement of Compliance required to be delivered by such Subservicer under Section 2(d6.04(a), any assessment Assessment of compliance Compliance and attestation Attestation Report required to be delivered by such Subservicer under Section 2(e) 6.07 and any certification Annual Certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e6.04(b) as and when required to be delivered.
(iic) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, any Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The .
(d) As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 6.07 and 11.18 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and any Depositor any Assessment of Compliance and Attestation Report and the Depositor any assessment of compliance and attestation and certificate other certificates required to be delivered by such Participating Entity Subservicer and such Subcontractor under Section 2(e)6.07, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (i) of this Subsection (f)Section 4.26. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ii) of this Subsection (f)Section 4.26.
(i) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.26 and with Sections 2(b6.04, 6.06, 6.07, 9.01(h)(iii), 2(c)(iii9.01(h)(v), 2(c)(v9.01(h)(vi), 2(c)(vi9.01(h)(vii), 2(c)(vii), 2(d), 9.01(h)(viii) and 2(e9.01(i) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(h)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)6.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(ii) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, such Depositor and such Master Servicer) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (B) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06, 6.07 and 9.01(i) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate other certifications required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered."
(i) Assignor, Assignee and the Company hereby amend Section 5.01 of the Agreement by deleting the second paragraph in its entirety and replacing it with the following: "With respect to any remittance received by the Purchaser after the Business Day on which such payment was due, the Company shall pay to the Purchaser interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus three (3) percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in the Custodial Account by the Company on the date such late payment is made and shall cover the period commencing with the Business Day on which such payment was due and ending with the Business Day on which such payment is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. Payments by the Company of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default by the Company."
(j) Assignor, Assignee and the Company hereby amend Section 5.02 of the Agreement by deleting the section in its entirety and replacing it with the following: "On or before the tenth calendar day of each month (or if such day is not a Business Day, the immediately preceding Business Day), the Company shall furnish to the Purchaser or its designee a delinquency report in the form set forth in Exhibit J-1, a monthly remittance advice in the form set forth in Exhibit J-2, and a realized loss report in the form set forth in Exhibit J-3, each in a mutually agreeable electronic format, as to the latest Due Period, together with such other information with respect to the Mortgage Loans as the Purchaser may reasonably require to allocate distributions made pursuant to this Agreement and to provide appropriate statements in connection therewith."
(k) Assignor, Assignee and the Company hereby amend the first sentence of the second paragraph of Section 6.02 by deleting such sentence in its entirety and replacing it with the following: "If the Company satisfies or releases the lien of the Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage (other than as a result of a modification of the Mortgage pursuant to this Agreement or a liquidation of the Mortgaged Property pursuant to the terms of this Agreement) or should the Company otherwise prejudice any rights the Purchaser may have under the mortgage instruments, upon written demand of the Purchaser, the Company shall repurchase the related Mortgage Loan at the Repurchase Price by deposit thereof in the Custodial Account within two Business Days of receipt of such demand by the Purchaser."
(l) Assignor, Assignee and the Company hereby amend Section 6.04 of the Agreement by deleting such section in its entirety and replacing it with the following: "On or before March 1st of each calendar year, commencing in 2007, the Company shall deliver to the Master Servicer a statement of compliance addressed to the Master Servicer and signed by an authorized officer of the Company, to the effect that (i) a review of the Company's activities during the immediately preceding calendar year (or applicable portion thereof) and of its performance under this Agreement and any applicable Reconstitution Agreement during such period has been made under such officer's supervision, and (ii) to the best of such officers' knowledge, based on such review, the Company has fulfilled all of its obligations under this Agreement and any applicable Reconstitution Agreement in all material respects throughout such calendar year (or applicable portion thereof) or, if there has been a failure to fulfill any such obligation in any material respect, specifically identifying each such failure known to such officer and the nature and the status thereof."
(m) Assignor, Assignee and the Company hereby amend the Agreement by deleting Section 6.05 in its entirety and replacing it with "[Reserved]."
(n) Assignor, Assignee and the Company hereby amend the Agreement by re-numbering Section 6.06, Right to Examine Company Records, to be "Section 6.08" and Section 6.07, Compliance with REMIC Provisions, to be "Section 6.09."
(o) Assignor, Assignee and the Company hereby amend the Agreement to add the following new Section 6.06 to the Agreement:
Appears in 1 contract
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section 4.29. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section 4.29.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.29 and with Sections 2(b6.04, 6.06, 9.01(d)(iii), 2(c)(iii9.01(d)(v), 2(c)(v9.01 (d)(vi), 2(c)(vi), 2(c)(vii), 2(d), 9.01(d)(vii) and 2(e9.01(e) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(d)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), 6.04 and any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(e) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate other certifications required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
Appears in 1 contract
Use of Subservicers and Subcontractors. (a) The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer Servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ib) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer Servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iid) of this Subsection (f)Section.
(ib) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b3.01(p), 2(c)(iii3.01(s), 2(c)(v)6.04, 2(c)(vi), 2(c)(vii), 2(d), 6.07 and 2(e) 11.18 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv3.01(r) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser Purchaser, any Master Servicer and any Depositor any servicer compliance statement Annual Statement of Compliance required to be delivered by such Subservicer under Section 2(d6.04(a), any assessment Assessment of compliance Compliance and attestation Attestation Report required to be delivered by such Subservicer under Section 2(e) 6.07 and any certification Annual Certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e6.04(b) as and when required to be delivereddelivered under this Agreement.
(iic) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, any Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The .
(d) As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 6.07 and 11.18 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and any Depositor any Assessment of Compliance and Attestation Report and the Depositor any assessment of compliance and attestation and certificate other certificates required to be delivered by such Participating Entity Subservicer and such Subcontractor under Section 2(e)6.07, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Prime Mortgage Trust 2006-1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.26 and with Sections 2(b6.04, 6.06, 9.01(e)(iii), 2(c)(iii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 9.01(e)(v) and 2(e9.01(e)(vi) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(e)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)6.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, such Depositor and such Master Servicer) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(f) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate the other certifications required to be delivered by such Participating Entity Subservicer and such Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
(vii) Section 5.02 (“Statements to the Purchaser”) of the Servicing Agreement is hereby deleted in its entirety and replaced by the following: On or before the tenth calendar day of each month (or if such day is not a Business Day, the immediately preceding Business Day), the Company shall furnish to the Purchaser or its designee a delinquency report in the form set forth in Exhibit J-1, a monthly remittance advice in the form set forth in Exhibit J-2, and a realized loss report in the form set forth in Exhibit J-3, each in a mutually agreeable electronic format, as to the latest Due Period, together with such other information with respect to the Mortgage Loans as the Purchaser may reasonably require to allocate distributions made pursuant to this Agreement and to provide appropriate statements in connection therewith.
(viii) Exhibits J-1, J-2 and J-3 to the Servicing Agreement are hereby added immediately following Exhibit I, substantially in the form of Attachment 3 to this Agreement.
(ix) Exhibit E to the Servicing Agreement is hereby deleted in its entirety and replaced by a new Exhibit E, substantially in the form of Attachment 4 to this Agreement.
Appears in 1 contract
Samples: Servicing Agreement (MASTR Asset Securitization Trust 2006-2)
Use of Subservicers and Subcontractors. The Company Servicer shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company Servicer as servicer under this the Agreement or any related Reconstitution Agreement unless the Company Servicer complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company Servicer shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company Servicer as servicer under this the Agreement or any related Reconstitution Agreement unless the Company Servicer complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company Servicer to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the Company The Servicer shall cause any Subservicer used by the Company Servicer (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b2.02, 2.03(c) and (e), 2(c)(iii)2.04, 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 2.05 and 2(e) 2.07 of this Amendment Reg ABAddendum to the same extent as if such Subservicer were the Servicer, and to provide the information required with respect to such Subservicer under Section 2(c)(iv2.03(d) of this Amendment Reg ABAddendum. The Company Servicer shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)2.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 2.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 2.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company Servicer to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the Company The Servicer shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company Servicer or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The Company As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Servicer shall cause any such Participating Entity Subcontractor used by the Company Servicer (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 2.05 and 2.07 of this AgreementAddendum to the same extent as if such Subcontractor were the Servicer. The Company Servicer shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)2.05, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Flow Sale and Servicing Agreement (Asset Backed Funding Corp)
Use of Subservicers and Subcontractors. The Company Servicer shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company Servicer as servicer under this Agreement or any related Reconstitution Agreement unless the Company Seller complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company Servicer shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company Servicer as servicer under this Agreement or any related Reconstitution Agreement unless the Company Servicer complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company Servicer to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the Company The Servicer shall cause any Subservicer used by the Company Servicer (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b1.02, 1.03(c), 2(c)(iii(e) and (f), 2(c)(v)1.04, 2(c)(vi), 2(c)(vii), 2(d), 1.05 and 2(e) 1.07 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Servicer, and to provide the information required with respect to such Subservicer under Section 2(c)(iv1.03(d) of this Amendment Reg ABAgreement. The Company Servicer shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)1.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 1.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 1.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company Servicer to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the Company The Servicer shall promptly upon request provide to the Purchaser and any Master Servicer, or any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) if a Master Servicer has not been identified for the related Securitization Transaction, a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company Servicer or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The Company As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Servicer shall cause any such Participating Entity Subcontractor used by the Company Servicer (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 1.05 and 1.07 of this AgreementAgreement to the same extent as if such Subcontractor were the Servicer. The Company Servicer shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)1.05, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Master Mortgage Loan Purchase and Servicing Agreement (Sequoia Mortgage Trust 2010-H1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section 4.25. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section 4.25.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.25 and with Sections 2(b6.04, 6.06, 9.01(e)(iii), 2(c)(iii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 9.01(e)(v) and 2(e9.01(f) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(e)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), 6.04 and any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(f) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac2)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section 4.24. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section 4.24.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.24 and with Sections 2(b6.04, 6.06, 6.07, 9.01(d)(iii), 2(c)(iii9.01(d)(v), 2(c)(v9.01(d)(vi), 2(c)(vi9.01(d)(vii), 2(c)(vii), 2(d), . 9.01(d)(viii) and 2(e9.01(e) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(d)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), 6.04 and any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, such Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06, 6.07 and 9.01(e) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the 44 WELLS FARGO RESTRICTED any Depositor any assessment of compliance and compliancx xxx attestation and certificate other certifications required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2007-Sd2)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b)6.04, 2(c)(iii)6.05, 2(c)(v)9.02, 2(c)(vi), 2(c)(vii), 2(d), 9.03(c) and 2(e(e) and 9.05 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.03(d) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)6.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 6.05 and 9.05 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.05, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Flow Sale and Servicing Agreement (ABFC 2006-Opt3 Trust)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (i) of this Subsection (f)Section 4.27. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ii) of this Subsection (f)Section 4.27.
(i) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.27 and with Sections 2(b6.04, 6.06, 9.01(d)(iii). 9.01(d)(v). 9.01(d)(vi), 2(c)(iii9.01(d)(vii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 9.01(d)(viii) and 2(e9.01(e) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(d)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)6.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(ii) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser, such Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(e) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate other certifications required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Seller's Warranties and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-2)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit authorize any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b2.02, 2.03(c), 2(c)(iii(e), 2(c)(v(f) and (g), 2(c)(vi)2.04, 2(c)(vii), 2(d), 2.05 and 2(e) 2.07 of this Amendment Reg ABAB Addendum to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv2.03( d) of this Amendment Reg ABAB Addendum. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)2.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 2.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 2.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon written request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance reasonably satisfactory to the Purchaser, such Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (B) which (if any) Subcontractor that is “participating in the servicing function” within the meaning of such Subcontractors are Participating Entities, Item 1122 of Regulation AB as determined by the Company and (Cii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bi) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 2.05 and 2.07 of this AgreementReg AB Addendum to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate the other certifications required to be delivered by such Participating Entity Subcontractor under Section 2(e)2.05, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Regulation Ab Compliance Addendum (Citigroup Mortgage Loan Trust 2007-6)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section 4.24. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section 4.24.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.24 and with Sections 2(b6.04, 6.06, 9.01(e)(iii), 2(c)(iii9.01(e)(v), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 9.01(e)(vi) and 2(e9.01(f) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(e)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), 6.04 and any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(f) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
Appears in 1 contract
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section 4.26 and with Sections 2(b6.04, 6.06, 9.01(e)(iii), 2(c)(iii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 9.01(e)(v) and 2(e9.01(e)(vi) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.01(e)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)6.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.06 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.06 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, such Depositor and such Master Servicer) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(eSections 6.06 and 9.01(f) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate the other certifications required to be delivered by such Participating Entity Subservicer and such Subcontractor under Section 2(e)6.06, in each case as and when required to be delivered.
(vii) Section 5.02 (“Statements to the Purchaser”) of the Servicing Agreement is hereby deleted in its entirety and replaced by the following: On or before the tenth calendar day of each month (or if such day is not a Business Day, the immediately preceding Business Day), the Company shall furnish to the Purchaser or its designee a delinquency report in the form set forth in Exhibit J-1, a monthly remittance advice in the form set forth in Exhibit J-2, and a realized loss report in the form set forth in Exhibit J-3, each in a mutually agreeable electronic format, as to the latest Due Period, together with such other information with respect to the Mortgage Loans as the Purchaser may reasonably require to allocate distributions made pursuant to this Agreement and to provide appropriate statements in connection therewith.
(viii) Exhibits J-1, J-2 and J-3 to the Servicing Agreement are hereby added immediately following Exhibit I, substantially in the form of Attachment 3 to this Agreement.
(ix) Exhibit E to the Servicing Agreement is hereby deleted in its entirety.
(x) Section 9.01(c) to the Servicing Agreement is hereby deleted in its entirety.
(xi) Section 6.04 to the Servicing Agreement is hereby deleted in its entirety and replaced with the following:
Appears in 1 contract
Samples: Assignment, Assumption and Recognition Agreement (MASTR Asset Backed Securities Trust 2006-Ab1)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b2.02, 2.03(c) and (e), 2(c)(iii)2.04, 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 2.05 and 2(e) 2.07 of this Amendment Reg ABAB Addendum to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv2.03( d) of this Amendment Reg ABAB Addendum. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)2.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 2.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 2.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon written request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance reasonably satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (B) which (if any) Subcontractor that is "participating in the servicing function" within the meaning of such Subcontractors are Participating Entities, Item 1122 of Regulation AB as determined by the Company and (Cii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bi) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 2.05 and 2.07 of this AgreementReg AB Addendum to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)2.05, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Flow Mortgage Loan Sale and Servicing Agreement (Lehman XS Trust Series 2006-10n)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (i) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ii) of this Subsection (f)Section.
(i) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b), 2(c)(iii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), 2(e) and 2(e2(g) of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) as and when required to be delivered.
(ii) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (B) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section Sections 2(e) and 2(g) of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e), in each case as and when required to be delivered.
Appears in 1 contract
Samples: Master Mortgage Loan Sale and Servicing Agreement (Lehman XS Trust Series 2006-10n)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b13.02, 13.03(c), 2(c)(iii(e), 2(c)(v(f) and (g), 2(c)(vi)6.04, 2(c)(vii), 2(d)6.05, and 2(e) 13.05 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv13.03(d) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)6.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity identified pursuant to clause (B) of this paragraph. The Company shall cause any such Participating Entity used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) of this Agreement. The Company shall be responsible for obtaining from each Participating Entity and delivering to the Purchaser, the Master Servicer and the Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity under Section 2(e), in each case as and when required to be delivered.
Appears in 1 contract
Samples: Mortgage Loan Sale and Servicing Agreement (Lares Asset Securitization, Inc.)
Use of Subservicers and Subcontractors. (a) The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ib) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iid) of this Subsection (f)Section.
(ib) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b3.01(p), 2(c)(iii3.01(s), 2(c)(v)6.04, 2(c)(vi), 2(c)(vii), 2(d), 6.07 and 2(e) 11.18 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv3.01(r) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser Purchaser, any Master Servicer and any Depositor any servicer compliance statement Annual Statement of Compliance required to be delivered by such Subservicer under Section 2(d6.04(a), any assessment Assessment of compliance Compliance and attestation Attestation Report required to be delivered by such Subservicer under Section 2(e) 6.07 and any certification Annual Certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e6.04(b) as and when required to be delivered.
(iic) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, any Master Servicer and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The .
(d) As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 6.07 and 11.18 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and any Depositor any Assessment of Compliance and Attestation Report and the Depositor any assessment of compliance and attestation and certificate other certificates required to be delivered by such Participating Entity Subservicer and such Subcontractor under Section 2(e)6.07, in each case as and when required to be delivered.
20. Article XI of the Agreement is hereby amended effective as of the date hereof by adding the following new Section 11.21:
Appears in 1 contract
Samples: Purchase, Warranties and Servicing Agreement (Prime Mortgage Trust 2007-1)
Use of Subservicers and Subcontractors. (a) The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ib) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iid) of this Subsection (f)Section.
(ib) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b3.01(p), 2(c)(iii3.01(s), 2(c)(v)6.04, 2(c)(vi)6.05, 2(c)(vii), 2(d), 6.07 and 2(e) 11.18 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv3.01(r) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement Annual Statement of Compliance required to be delivered by such Subservicer under Section 2(d6.04(a), any assessment Assessment of compliance Compliance and attestation Attestation Report required to be delivered by such Subservicer under Section 2(e) 6.07 and any certification Annual Certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e6.04(b) as and when required to be delivered.
(iic) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The .
(d) As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 6.07 and 11.18 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment Assessment of compliance Compliance and attestation and certificate Attestation Report required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.07, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (SACO I Trust 2006-9)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (i) of this Subsection (f). The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ii) of this Subsection (f).
(i) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b), 2(c)(iii), 2(c)(v), 2(c)(vi), 2(c)(vii), 2(d), and 2(e) of this Amendment Reg ABAgreement , and to provide the information required with respect to such Subservicer under Section 2(c)(iv) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d), any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) as and when required to be delivered.
(ii) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (A) the identity of each such Subcontractor, (B) which (if any) of such Subcontractors are Participating Entities, and (C) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity identified pursuant to clause (B) of this paragraph. The Company shall cause any such Participating Entity used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) of this Agreement. The Company shall be responsible for obtaining from each Participating Entity and delivering to the Purchaser, the Master Servicer and the Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity under Section 2(e), in each case as and when required to be delivered.and
Appears in 1 contract
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the Master Servicer Purchaser or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b)6.04, 2(c)(iii)6.05, 2(c)(v)9.02, 2(c)(vi), 2(c)(vii), 2(d), 9.03(c) and 2(e(e) and 9.05 of this Amendment Reg ABAgreement to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv9.03(d) of this Amendment Reg ABAgreement. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)6.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 6.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 6.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Purchaser or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser and any Depositor (or any designee of the Depositor, such as a master servicer or administrator) a written description (in form and substance satisfactory to the Purchaser and such Depositor) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities“participating in the servicing function” within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be “participating in the servicing function” within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 6.05 and 9.05 of this AgreementAgreement to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate required to be delivered by such Participating Entity Subcontractor under Section 2(e)6.05, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Flow Sale and Servicing Agreement (ABFC 2006-Opt2 Trust)
Use of Subservicers and Subcontractors. The Company shall not hire or otherwise utilize the services of any Subservicer to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (ia) of this Subsection (f)Section. The Company shall not hire or otherwise utilize the services of any Subcontractor, and shall not permit any Subservicer to hire or otherwise utilize the services of any Subcontractor, to fulfill any of the obligations of the Company as servicer under this the Agreement or any related Reconstitution Agreement unless the Company complies with the provisions of paragraph (iib) of this Subsection (f)Section.
(ia) It shall not be necessary for the Company to seek the consent of the Purchaser, the any Master Servicer or any Depositor to the utilization of any Subservicer. If required by Regulation AB, the The Company shall cause any Subservicer used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of this Section and with Sections 2(b2.02, 2.03( c), 2(c)(iii(e), 2(c)(v(f) and (g), 2(c)(vi)2.04, 2(c)(vii), 2(d), 2.05 and 2(e) 2.07 of this Amendment Reg ABAB Addendum to the same extent as if such Subservicer were the Company, and to provide the information required with respect to such Subservicer under Section 2(c)(iv2.03(d) of this Amendment Reg ABAB Addendum. The Company shall be responsible for obtaining from each Subservicer and delivering to the Purchaser and any Depositor any servicer compliance statement required to be delivered by such Subservicer under Section 2(d)2.04, any assessment of compliance and attestation required to be delivered by such Subservicer under Section 2(e) 2.05 and any certification required to be delivered to the Person that will be responsible for signing the Sarbanes Certification under Section 2(e) 2.05 as and when required to be delivered.
(iib) It shall not be necessary for the Company to seek the consent of the Purchaser, any Master Servicer, Servicer or any Depositor to the utilization of any Subcontractor. If required by Regulation AB, after reasonable notice from the Purchaser of the parties involved in the Purchaser’s Securitization Transaction, the The Company shall promptly upon request provide to the Purchaser Purchaser, any Master Servicer and any Depositor (or any designee of the Depositor, such as a master servicer or an administrator) a written description (in form and substance satisfactory to the Purchaser, such Depositor and such Master Servicer) of the role and function of each Subcontractor utilized by the Company or any Subservicer, specifying (Ai) the identity of each such Subcontractor, (Bii) which (if any) of such Subcontractors are Participating Entities"participating in the servicing function" within the meaning of Item 1122 of Regulation AB, and (Ciii) which elements of the Servicing Criteria will be addressed in assessments of compliance provided by each Participating Entity Subcontractor identified pursuant to clause (Bii) of this paragraph. The As a condition to the utilization of any Subcontractor determined to be "participating in the servicing function" within the meaning of Item 1122 of Regulation AB, the Company shall cause any such Participating Entity Subcontractor used by the Company (or by any Subservicer) for the benefit of the Purchaser and any Depositor to comply with the provisions of Section 2(e) Sections 2.05 and 2.07 of this AgreementReg AB Addendum to the same extent as if such Subcontractor were the Company. The Company shall be responsible for obtaining from each Participating Entity Subcontractor and delivering to the Purchaser, the Master Servicer Purchaser and the any Depositor any assessment of compliance and attestation and certificate the other certifications required to be delivered by such Participating Entity Addendum I-12 Subservicer and such Subcontractor under Section 2(e)2.05, in each case as and when required to be delivered.
Appears in 1 contract
Samples: Mortgage Loan Flow Purchase, Sale and Servicing Agreement (SunTrust Real Estate Trust, LLC)
