ADMINISTRATION AND SERVICING OF MORTGAGE LOANS BY THE MASTER SERVICER. Section 9.01 Duties of the Master Servicer; Enforcement of Servicers’ and Master Servicer’s Obligations.
(a) The Master Servicer, on behalf of the Trustee, the Depositor and the Certificateholders shall monitor the performance of the Servicers under the Purchase and Servicing Agreements, and shall use its reasonable good faith efforts to cause the Servicers duly and punctually to perform all of their respective duties and obligations thereunder. Upon the occurrence of a default of which an Authorized Officer of the Master Servicer has actual knowledge under a Purchase and Servicing Agreement, the Master Servicer shall promptly notify the Trustee thereof, and shall specify in such notice the action, if any, the Master Servicer is taking in respect of such default. So long as any such default shall be continuing, the Master Servicer may, and shall if it determines such action to be in the best interests of Certificateholders, (i) terminate all of the rights and powers of such Servicer pursuant to the applicable provisions of the related Purchase and Servicing Agreement; (ii) exercise any rights it may have to enforce the related Purchase and Servicing Agreement against such Servicer; and/or (iii) waive any such default under the related Purchase and Servicing Agreement or take any other action with respect to such default as is permitted thereunder. Notwithstanding any provision of this Agreement or any Purchase and Servicing Agreement to the contrary, the Master Servicer shall have no duty or obligation to supervise, monitor or oversee the activities of, or to enforce the obligations of, a Servicer under its Purchase and Servicing Agreement with respect to any Additional Collateral or any Limited Purpose Surety Bond relating thereto, including, without limitation, the collection of any amounts owing to the Trust Fund in respect thereof (unless and until the Master Servicer shall have assumed the obligations of such Servicer as successor servicer under the related Purchase and Servicing Agreement pursuant to this Section 9.01, in which case, as successor servicer, it shall be bound to serve and administer the Additional Collateral and any related Limited Purpose Surety Bond in accordance with the provisions of the such Purchase and Servicing Agreement).
(b) Upon any termination by the Master Servicer of a Servicer’s rights and powers pursuant to its Purchase and Servicing Agreement, the rights and powers of such Servicer with respect to the related Mortgage ...
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS BY THE MASTER SERVICER. Section 9.01 Duties of the Master Servicer;
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS BY THE MASTER SERVICER. Section 9.01. Duties of the Master Servicer..............................................................87 Section 9.02. Master Servicer Fidelity Bond and Master Servicer Errors and Omissions Insurance Policy.....................................................................................87 Section 9.03. Master Servicer's Financial Statements and Related Information.............................88 Section 9.04. Power to Act; Procedures...................................................................88 Section 9.05. Servicing Agreements Between the Master Servicer and Servicers; Enforcement of Servicers' Obligations.....................................................................90 Section 9.06. Collection of Taxes, Assessments and Similar Items.........................................91 Section 9.07. Termination of Servicing Agreements; Successor Servicers...................................91 Section 9.08. Master Servicer Liable for Enforcement.....................................................92 Section 9.09. No Contractual Relationship Between Servicers and Trustee or Depositor.....................92 Section 9.10. Assumption of Servicing Agreement by Trustee...............................................92 Section 9.11. "Due-on-Sale" Clauses; Assumption Agreements...............................................93 Section 9.12. Release of Mortgage Files..................................................................93
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS BY THE MASTER SERVICER. Duties of the Master Servicer; Enforcement of Servicer's and Master Servicer's Obligations.
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS BY THE MASTER SERVICER. Section 9.01. Duties of the Master Servicer. The Certificateholders, by their purchase and acceptance of the Certificates, appoint Aurora Loan Services Inc., as Master Servicer. For and on behalf of the Depositor, the Trustee and the Certificateholders, the Master Servicer shall master service the Mortgage Loans in accordance with the provisions of this Agreement and the provisions of the applicable Servicing Agreement.
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS BY THE MASTER SERVICER. Section 9.01. Duties of the Master Servicer................................92 Section 9.02. Master Servicer Fidelity Bond and Master Servicer Errors and Omissions Insurance Policy........................92 Section 9.03. Master Servicer's Financial Statements and Related Information..................................................92 Section 9.04. Power to Act; Procedures.....................................93 Section 9.05. Servicing Agreements Between the Master Servicer and Servicers; Enforcement of Servicers' Obligations.........94 Section 9.06. Collection of Taxes, Assessments and Similar Items...........95 Section 9.07.
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS BY THE MASTER SERVICER. 100 Section 9.01. Duties of the Master Servicer. 100 Section 9.02. Master Servicer Fidelity Bond and Master Servicer Errors and Omissions Insurance Policy. 100 Section 9.03. Master Servicer’s Financial Statements and Related Information. 101 Section 9.04. Power to Act; Procedures. 101
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS BY THE MASTER SERVICER. Section 4.01 Master Servicer to Service and Administer the Mortgage Loans. Section 4.02 Monitoring of Servicers. 47 Section 4.03 Fidelity Bond. Section 4.04 Power to Act; Procedures
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS BY THE MASTER SERVICER. Section 9.01 Duties of the Master Servicer; Enforcement of Servicers’ and Master Servicer’s Obligations. 95 Section 9.02 Assumption of Master Servicing by Trustee. 97 Section 9.03 Representations and Warranties of the Master Servicer. 97 Section 9.04 Compensation to the Master Servicer. 99
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS BY THE MASTER SERVICER. Section 9.01 Duties of the Master Servicer; Enforcement of Servicer’s and Master Servicer’s Obligations.
(a) The Master Servicer, on behalf of the Trustee and the Certificateholders shall, from and after the Closing Date, monitor the performance of the Servicers and the Servicing Administrator under the Servicing Agreements. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with Accepted Master Servicing Practices. Furthermore, the Master Servicer shall consult with each Servicer and the Servicing Administrator as necessary from time to time to carry out the Master Servicer’s obligations hereunder, shall receive and review all reports, information and other data provided to the Master Servicer by each Servicer and shall enforce the obligation of each Servicer and the Servicing Administrator duly and punctually to perform and observe the covenants, duties, obligations and conditions to be performed or observed by such Servicer or the Servicing Administrator under the related Servicing
