Mortgage Pool Insurer definition
Examples of Mortgage Pool Insurer in a sentence
The Co-Trustee will give prompt written notice to the Certificateholders and the Mortgage Pool Insurer of any change in such location of any such office or agency.
In connection with its activities hereunder, the Master Servicer agrees to present, on behalf of the Trustee and Certificateholders, claims to the Mortgage Pool Insurer under the Mortgage Pool Insurance Policy, and, in this regard, to take such commercially reasonable action (other than the making of Nonrecoverable Advances) as shall be necessary to permit recovery under the Mortgage Pool Insurance Policy.
The Mortgage Pool Insurer will determine whether to pay claims under the Mortgage Pool Insurance Policy and will pay such claims by remitting, by wire transfer in immediately available funds, the amount of such claims to the Co-Trustee, who will forward such amounts to the Trustee for deposit in the Distribution Account.
In addition, on the Closing Date, the Co-Trustee shall pay the Mortgage Pool Insurer Fee to the Mortgage Pool Insurer, to the extent of funds on deposit in the Distribution Account, and the Depositor shall cause the Mortgage Pool Insurer to deliver the Mortgage Pool Insurance Policy to the Co-Trustee.
Promptly after the execution of any amendment to this Agreement requiring the consent of Certificateholders, the Trustee shall furnish written notification of the substance or a copy of such amendment to each Certificateholder, the Mortgage Pool Insurer and each Rating Agency.
The Co-Trustee will pay the Mortgage Pool Insurer Fee in accordance with Section 8.14(c).
If the Co-Trustee receives any payments under the Mortgage Pool Insurance Policy or this Pooling and Servicing Agreement from the Mortgage Pool Insurer, the Co-Trustee shall pay such proceeds to the Trustee by wire transfer of immediately available funds on the date of receipt for deposit in the Distribution Account.
If the Terminating Entity elects to terminate the Trust Fund pursuant to clause (a) of Section 9.01, by the 25th day of the month preceding the month of the final distribution, the Terminating Entity shall notify the Depositor, the Servicer, the Mortgage Pool Insurer and the Trustee of the date the Terminating Entity intends to terminate the Trust Fund and of the applicable Termination Price of the Mortgage Loans and REO Properties.
The Servicer shall furnish to the Trustee and the Mortgage Pool Insurer an individual loan accounting report, as of the last Business Day of each month, to document Mortgage Loan payment activity on an individual Mortgage Loan basis.
The Trustee shall withdraw funds from the Certificate Account for distributions to the Certificateholders, the Mortgage Pool Insurer and the Credit Risk Manager, if applicable, in the manner specified in this Agreement (and to withhold from the amounts so withdrawn, the amount of any taxes that it is authorized to withhold pursuant to the last paragraph of Section 8.11).