Common use of Applicable Clause in Contracts

Applicable. APPLICABLE SERVICING SERVICING CRITERIA CRITERIA ------------------------------------------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------------------------------------------- General Servicing Considerations Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the 1122(d)(1)(i) transaction agreements. Trustee/Servicer If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party's performance and compliance with such servicing 1122(d)(1)(ii) activities. Trustee/Servicer Any requirements in the transaction agreements to maintain a 1122(d)(1)(iii) back-up servicer for the mortgage loans are maintained. N/A A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the Servicer 1122(d)(1)(iv) transaction agreements. Cash Collection and Administration Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction 1122(d)(2)(i) agreements. Servicer Disbursements made via wire transfer on behalf of an obligor or to 1122(d)(2)(ii) an investor are made only by authorized personnel. Servicer/Trustee Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified 1122(d)(2)(iii) in the transaction agreements. Servicer