ADMINISTRATION AND MASTER SERVICING OF MORTGAGE LOANS. Section 3.01 Master Servicing of Mortgage Loans.......................... Section 3.02
ADMINISTRATION AND MASTER SERVICING OF MORTGAGE LOANS. Section 3.01
ADMINISTRATION AND MASTER SERVICING OF MORTGAGE LOANS. Section 3.01 Master Servicing of Mortgage Loans. Section 3.02 Monitoring of Servicers. Section 3.03 [Reserved].
ADMINISTRATION AND MASTER SERVICING OF MORTGAGE LOANS. Section 3.01 Master Servicing of the Mortgage Loans. For and on behalf of the Certificateholders, the Master Servicer shall supervise, monitor and oversee the obligations of the Servicers to service and administer their respective Mortgage Loans in accordance with the terms of the applicable Servicing Agreement and shall have full power and authority to do any and all things which it may deem necessary or desirable in connection with such master servicing and administration. In performing its obligations hereunder, the Master Servicer shall act in a manner consistent with this Agreement, subject to the prior sentence, and with Customary Servicing Procedures. Furthermore, the Master Servicer shall oversee and consult with each Servicer as necessary from time-to-time to carry out the Master Servicer's obligations hereunder, shall receive, review and evaluate all reports, information and other data provided to the Master Servicer by each Servicer and shall cause each Servicer to perform and observe the covenants, obligations and conditions to be performed or observed by such Servicer under the applicable Servicing Agreement. The Master Servicer shall independently and separately monitor each Servicer's servicing activities with respect to each related Mortgage Loan, reconcile the results of such monitoring with such information provided in the previous sentence on a monthly basis and coordinate corrective adjustments to the Servicers' and the Master Servicer's records, and based on such reconciled and corrected information, prepare the Master Servicer's Certificate and any other information and statements required hereunder. The Master Servicer shall reconcile the results of its Mortgage Loan monitoring with the actual remittances of the Servicers to the Master Servicer Custodial Account pursuant to the applicable Servicing Agreements. Continuously from the date hereof until the termination of the Trust, the Master Servicer shall enforce the obligations of the Servicers to collect all payments due under the terms and provisions of the Mortgage Loans when the same shall become due and payable to the extent such procedures shall be consistent with the applicable Servicing Agreement. The relationship of the Master Servicer (and of any successor to the Master Servicer as master servicer under this Agreement) to the Trustee and the Securities Administrator under this Agreement is intended by the parties to be that of an independent contractor and not that of a joi...
ADMINISTRATION AND MASTER SERVICING OF MORTGAGE LOANS. Section 3.01. The Master Servicer to Service the Mortgage Loans.......................................54 Section 3.02. REMIC-Related Covenants.................................................................55 Section 3.03. Collection of Mortgage Loan Payments....................................................55 Section 3.04. Successor Master Servicer and Subservicing Agreements...................................56 Section 3.05. [Reserved]..............................................................................56 Section 3.06. Due-on-Sale Clauses; Assumption Agreements..............................................57 Section 3.07. Release of Mortgage Files...............................................................58
ADMINISTRATION AND MASTER SERVICING OF MORTGAGE LOANS. Section 3.01. The Master Servicer...........................................................................52 Section 3.02. REMIC-Related Covenants.......................................................................52 Section 3.03.
ADMINISTRATION AND MASTER SERVICING OF MORTGAGE LOANS. Section 3.01. The Master Servicer to Service the Mortgage Loans. For and on behalf of the Certificateholders, the Master Servicer shall service and administer the Mortgage Loans in accordance with Accepted Servicing Practices. In connection with such servicing and administration, the Master Servicer shall have full power and authority, acting alone and/or through subservicers as provided in Section 3.22 hereof, to do or cause to be done any and all things that it may deem necessary or desirable in connection with such servicing and administration, including but not limited to, the power and authority, subject to the terms hereof (i) to execute and deliver, on behalf of the Certificateholders and the Trustee, customary consents or waivers and other instruments and documents, (ii) to consent to transfers of any Mortgaged Property and assumptions of the Mortgage Notes and related Mortgages (but only in the manner provided in this Agreement), (iii) to collect any Insurance Proceeds, Liquidation Proceeds and Subsequent Recoveries, and (iv) subject to Section 3.13(a), to effectuate foreclosure or other conversion of the ownership of the Mortgaged Property securing any Mortgage Loan; provided that the Master Servicer shall take no action that is inconsistent with or prejudices the interests of the Trust Fund or the Certificateholders in any Mortgage Loan or the rights and interests of the Depositor and the Trustee under this Agreement. The Master Servicer shall represent and protect the interest of the Trust Fund in the same manner as it currently protects its own interest in mortgage loans in its own portfolio in any claim, proceeding or litigation regarding a Mortgage Loan and shall not make or permit any modification, waiver or amendment of any term of any Mortgage Loan which would cause any REMIC hereunder to fail to qualify as a REMIC or result in the imposition of any tax under the REMIC Provisions, but in any case not in any manner that is a lesser standard than that provided in the first sentence of this Section 3.01. Without limiting the generality of the foregoing, the Master Servicer, in its own name or in the name of the Trust, the Depositor or the Trustee, is hereby authorized and empowered by the Trust, the Depositor and the Trustee, when the Master Servicer believes it appropriate in its reasonable judgment, to execute and deliver, on behalf of the Trust, the Trustee, the Depositor, the Certificateholders or any of them, any and all instruments of ...
ADMINISTRATION AND MASTER SERVICING OF MORTGAGE LOANS. Section 4.01. Duties of the Master Servicer. 68
ADMINISTRATION AND MASTER SERVICING OF MORTGAGE LOANS. BY MASTER SERVICER Section 4.01 Master Servicer.......................................................................... Section 4.02
ADMINISTRATION AND MASTER SERVICING OF MORTGAGE LOANS. Section 3.01. The Master Servicer.........................................44 Section 3.02. REMIC-Related Covenants.....................................44 Section 3.03.
