Examples of Faxxxx Xax in a sentence
The Master Servicer and each Servicer shall obtain (to the extent generally commercially available from time to time) and maintain fidelity bond and errors and omissions coverage acceptable to Faxxxx Xax xr Frxxxxx Xac with respect to their obligations under this Agreement and the applicable Selling and Servicing Contract, respectively.
Such insurance shall be with insurers approved by the Master Servicer and Faxxxx Xax xr Frxxxxx Xac.
The Servicer shall keep in force during the term of this Agreement a Fidelity Bond and Errors and Omissions Insurance the minimum coverage of which shall be at least equal to the coverage required by Frxxxxx Xac in the Frxxxxx Xac Guide or Faxxxx Xax xn the Faxxxx Xae Guides (unless a waiver of such requirement has been obtained by the Servicer from either Frxxxxx Xac or Faxxxx Xae).
Such Fidelity Bond and Errors and Omissions Insurance shall be maintained with recognized insurers, shall be in such form and amount as would permit the Servicer to be qualified as a Faxxxx Xax xr Frxxxxx Xac seller/servicer, and shall by its terms not be cancelable without thirty days’ prior written notice to the Master Servicer and the NIMS Insurer.
The Servicer shall also maintain a fidelity bond in the form and amount that would meet the requirements of Faxxxx Xax xr Frxxxxx Xac, unless the Servicer has obtained a waiver of such requirements from Faxxxx Xae or Frxxxxx Xac.
The Servicer shall withdraw from the Custodial Account funds necessary for the proper operation, management and maintenance of the REO Property, including the cost of maintaining any hazard insurance pursuant to the Faxxxx Xax Xuides.
In addition, with respect to any Mortgage Loan serviced for a Faxxxx Xax xool, the Servicer shall transmit full credit reporting data to each of such credit repositories in accordance with Faxxxx Xae Guide Announcement 95-19 (November 20, 1995), a copy of which is attached hereto as Exhibit G, reporting each of the following statuses, each month with respect to a Mortgage Loan in a Faxxxx Xax xool: New origination, current, delinquent (30-60-90-days, etc), foreclosed or charged off.
Errors and Omissions Insurance to be maintained by the Servicer in accordance with the Faxxxx Xax Xuide or Frxxxxx Xac Guide.
The Mortgage Loans may be subserviced by one or more unaffiliated subservicers on behalf of the Seller provided each subservicer is a Faxxxx Xax xpproved seller/servicer or a Frxxxxx Xac approved seller/servicer in good standing, and no event has occurred, including but not limited to a change in insurance coverage, that would make it unable to comply with the eligibility for seller/servicers imposed by Faxxxx Xax xr Frxxxxx Xac, or which would require notification to Faxxxx Xae or Frxxxxx Xac.
Where applicable law so provides, Transferee, Erwin, Spaulding, Sentio, Transferor, and Faxxxx Xax, intend that this Agreement shall be deemed to be signed and delivered as a sealed instrument.