Examples of Covered Mortgage Loans in a sentence
The Master Servicer shall take whatever action is appropriate to maximize the amounts payable under the Mortgage Insurance Policy and to service the Covered Mortgage Loans in the manner required by the Mortgage Insurance Policy.
The Master Servicer shall take whatever action is appropriate to maximize the amounts payable under each Mortgage Insurance Policy and to service the Covered Mortgage Loans in the manner required by the applicable Mortgage Insurance Policy.
The Servicer shall prepare and file on a timely basis with the Pool Insurer, all claims which may be made under the Pool Policy with respect to the Covered Mortgage Loans.
The Master Servicer shall enforce the obligations of the Servicer to prepare and file on a timely basis with the Pool Insurer, all claims which may be made under the Pool Policy with respect to the Covered Mortgage Loans.
The Borrower shall, on the Closing Date and on the date of any renewal or extension of the Maturity Date, cause the unpaid principal balance of the Covered Mortgage Loans to be no more than [***] of the aggregate unpaid principal balance of all Agency mortgage loans for which the Borrower is the servicer.
Realized Losses on the Covered Mortgage Loans, to the extent not covered by Net Monthly Excess Cashflow and the Overcollateralized Amount, shall be covered Pool Insurer.
The Servicer shall file a claim under the Pool Policy when any Covered Mortgage Loans becomes four (4) months in Default (as defined in the Pool Policy).
The Borrower shall deliver to the Lender as soon as is available, but in no event later than the 3rd Business Day of each month or as otherwise requested by Lender, an updated Servicing Schedule with respect to all Covered Mortgage Loans, which shall include all updates to the Collateral since the delivery of the preceding Servicing Schedule, as of the date of delivery of such Servicing Schedule.
The Pool Policy will provide coverage for credit losses on the Covered Mortgage Loans, to the extent not covered by Net Monthly Excess Cashflow, once such cumulative losses reach 6.35% of the aggregate principal balance of the Covered Mortgage Loans as of the Cut-off Date up to a limit of 8.31% of the aggregate principal balance of the Covered Mortgage Loans as of the Cut-off Date.
The Borrower shall provide prior notice to the Lender with respect to the use of a subservicer or a change in subservicer with respect to the Covered Mortgage Loans.