Common use of Insurance of Custodian Clause in Contracts

Insurance of Custodian. At its own expense, the Custodian shall maintain at all times during the existence of this Custodial Agreement and keep in full force and effect such insurance in amounts, with standard coverage and subject to deductibles, all as is customary for insurance typically maintained by banks which act as custodian. The minimum coverage under any such bond and insurance policies shall be at least equal to the corresponding amounts required by FNMA in the FNMA Servicing Guide or by FHLMC in the FHLMC Company’s & Servicer’s Guide. Upon request, the Trustee shall be entitled to receive evidence satisfactory to the Trustee that such insurance is in full force and effect.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (NYMT Securities CORP), Custodial Agreement (Sequoia Residential Funding Inc), Custodial Agreement (Sequoia Residential Funding Inc)

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Insurance of Custodian. At its own expense, the Custodian shall maintain at all times during the existence of this Custodial Agreement and keep in full force and effect such insurance in amounts, with standard coverage and subject to deductibles, all as is customary for insurance typically maintained by banks which act as custodian. The minimum coverage under any such bond and insurance policies shall be at least equal to the corresponding amounts required by FNMA in the FNMA Servicing Guide or by FHLMC in the FHLMC Company’s 's & Servicer’s 's Guide. Upon request, the Trustee shall be entitled to receive evidence satisfactory to the Trustee that such insurance is in full force and effect.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (DLJ Mortgage Acceptance Corp), Custodial Agreement (DLJ Mortgage Acceptance Corp)

Insurance of Custodian. At its own expense, the Custodian shall maintain at all times during the existence of this Custodial Agreement and keep in full force and effect such insurance in amounts, with standard coverage and subject to deductibles, all as is customary for insurance typically maintained by banks which act as a custodian. The minimum coverage under any such bond and insurance policies shall be at least equal to the corresponding amounts required by FNMA in the FNMA Servicing Guide or by FHLMC in the FHLMC Company’s Sellers' & Servicer’s Servicers' Guide. Upon request, the Indenture Trustee shall be entitled to receive evidence satisfactory to the Indenture Trustee that such insurance is in full force and effect.

Appears in 1 contract

Samples: Custodial Agreement (PHH Mortgage Trust, Series 2008-Cim2)

Insurance of Custodian. At its own expense, the Custodian shall maintain at all times during the existence of this Custodial Agreement and keep in full force and effect such insurance in amounts, with standard coverage and subject to deductibles, all as is customary for insurance typically maintained by banks which act as custodianCustodian. The minimum coverage under any such bond and insurance policies shall be at least equal to the corresponding amounts required by FNMA in the FNMA Servicing Guide or by FHLMC in the FHLMC Company’s Sellers' & Servicer’s ' Guide. Upon request, the Trustee shall be entitled to receive evidence satisfactory to the Trustee that such insurance is in full force and effect.

Appears in 1 contract

Samples: Custodial Agreement (Peoples Choice Home Loan Securities Trust Series 2004-2)

Insurance of Custodian. At its own expense, the Custodian shall maintain at all times during the existence of this Custodial Agreement and keep in full force and effect such insurance in amounts, with standard coverage and subject to deductibles, all as is customary for insurance typically maintained by banks which act as custodianCustodian. The minimum coverage under any such bond and insurance policies shall be at least equal to the corresponding amounts required by FNMA in the FNMA Servicing Guide or by FHLMC in the FHLMC Company’s Sellers' & Servicer’s Servicers' Guide. Upon request, the Trustee Owner shall be entitled to receive evidence satisfactory to the Trustee Owner that such insurance is in full force and effect.

Appears in 1 contract

Samples: Custodial Agreement (New York Mortgage Trust Inc)

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Insurance of Custodian. At its own expense, the Custodian shall maintain at all times during the existence of this Custodial Agreement and keep in full force and effect such insurance in amounts, with standard coverage and subject to deductibles, all as is customary for insurance typically maintained by banks which act as custodian. The minimum coverage under any such bond and insurance policies shall be at least equal to the corresponding amounts required by FNMA in the FNMA Servicing Guide or by FHLMC in the FHLMC Company’s & Servicer’s Servicers’ Guide. Upon request, the Trustee shall be entitled to receive evidence satisfactory to the Trustee that such insurance is in full force and effect.

Appears in 1 contract

Samples: Custodial Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-1)

Insurance of Custodian. At its own expense, the Custodian shall maintain at all times during the existence of this Custodial Agreement and keep in full force and effect such insurance in amounts, with standard coverage and subject to deductibles, all as is customary for insurance typically maintained by banks which act as custodian. The minimum coverage under any such bond and insurance policies shall be at least equal to the corresponding amounts required by FNMA in the FNMA Servicing Guide or by FHLMC in the FHLMC Company’s & Servicer’s Servicers Guide. Upon request, the Trustee Custodian shall be entitled to receive provide evidence satisfactory to the Trustee Trustee, Master Servicer and Servicers that such insurance is in full force and effect.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Five Oaks Investment Corp.)

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