Common use of Exh Clause in Contracts

Exh. Date: ------------------------------------ By: ------------------------------------ Name: Title: EXHIBIT B-1 SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE The assessment of compliance to be delivered by [the Company] [Name of Subservicer] shall address, at a minimum, the criteria identified as below as "Applicable Servicing Criteria"; -------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria -------------------------------------------------------------------------------- Reference Criteria -------------------------------------------------------------------------------- General Servicing Considerations -------------------------------------------------------------------------------- Policies and procedures are instituted to monitor any performance or other triggers and events of default in X 1122(d)(1)(i) accordance with the transaction agreements. -------------------------------------------------------------------------------- If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third X party's performance and compliance with such 1122(d)(1)(ii) servicing activities. -------------------------------------------------------------------------------- Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage 1122(d)(1)(iii) loans are maintained. -------------------------------------------------------------------------------- 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 X of coverage required by and otherwise in accordance 1122(d)(1)(iv) with the terms of the 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 X following receipt, or such other number of days 1122(d)(2)(i) specified in the transaction agreements. -------------------------------------------------------------------------------- Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by X 1122(d)(2)(ii) authorized personnel. -------------------------------------------------------------------------------- Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other X fees charged for such advances, are made, reviewed and 1122(d)(2)(iii) approved as specified in the transaction agreements. -------------------------------------------------------------------------------- EXH. B-1-1

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-12xs)

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Exh. A-1-1 Date: ------------------------------------ ---------------------------------- By: ------------------------------------ ---------------------------------- Name: Title: EXHIBIT B-1 SERVICING CRITERIA TO BE ADDRESSED XXXXXXX X-0 XXXXXXXXX XXXXXXXX XX XX XXXXXXXXX IN ASSESSMENT OF COMPLIANCE The assessment of compliance to be delivered by [the Company] [Name of Subservicer] shall address, at a minimum, the criteria identified as below as "Applicable Servicing Criteria"; -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing 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 X 1122(d)(1)(i) accordance with the transaction agreements. -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- If any material servicing activities are outsourced to third parties, X policies and procedures are instituted to monitor the third X party's 1122(d)(1)(ii) performance and compliance with such 1122(d)(1)(ii) servicing activities. -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Any requirements in the transaction agreements to maintain a back-up 1122(d)(1)(iii) servicer for the mortgage 1122(d)(1)(iii) loans are maintained. -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting X period in the amount X of coverage required by and otherwise in accordance 1122(d)(1)(iv) with the terms of the 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 X following receipt, or such other number of days specified X 1122(d)(2)(i) specified in the transaction agreements. -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made via wire transfer on behalf of an obligor or to an X 1122(d)(2)(ii) investor are made only by X 1122(d)(2)(ii) authorized personnel. -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other X fees charged for such advances, X are made, reviewed and 1122(d)(2)(iii) approved as specified in the transaction 1122(d)(2)(iii) agreements. -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set X 1122(d)(2)(iv) forth in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- EXH. B-1-1

Appears in 1 contract

Samples: Assignment and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-13arx)

Exh. A-1-1 Date: ------------------------------------ --------------------------------------- By: ------------------------------------ --------------------------------------- Name: Title: EXHIBIT B-1 SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE XXXXXXXXX XXXXXXXX XX XX XXXXXXXXX XX XXXXXXXXXX XX XOMPLIANCE The assessment of compliance to be delivered by [the Company] [Name of Subservicer] shall address, at a minimum, the criteria identified as below as "Applicable Servicing Criteria"; -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Reference Criteria -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- General Servicing Considerations -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Policies and procedures are instituted to monitor any performance or X other triggers and events of default in X 1122(d)(1)(i) accordance with the transaction 1122(d)(1)(i) agreements. -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- If any material servicing activities are outsourced to third parties, X policies and procedures are instituted to monitor the third X party's 1122(d)(1)(ii) performance and compliance with such 1122(d)(1)(ii) servicing activities. -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Any requirements in the transaction agreements to maintain a back-up 1122(d)(1)(iii) servicer for the mortgage 1122(d)(1)(iii) loans are maintained. -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- A fidelity bond and errors and omissions policy is in effect on the X party participating in the servicing function throughout the reporting period in the amount X of coverage required by and otherwise in accordance 1122(d)(1)(iv) with the terms of the transaction agreements. -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Cash Collection and Administration -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Payments on mortgage loans are deposited into the appropriate custodial X bank accounts and related bank clearing accounts no more than two business days X following receipt, or such other number of days specified 1122(d)(2)(i) specified in the transaction agreements. -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Disbursements made via wire transfer on behalf of an obligor or to an X 1122(d)(2)(ii) investor are made only by X 1122(d)(2)(ii) authorized personnel. -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Advances of funds or guarantees regarding collections, cash flows or X distributions, and any interest or other X fees charged for such advances, are made, reviewed and 1122(d)(2)(iii) approved as specified in the transaction 1122(d)(2)(iii) agreements. -------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set X 1122(d)(2)(iv) forth in the transaction agreements. ---------------------------------------------------------------------------------------------------------------------- EXH. B-1-1

Appears in 1 contract

Samples: Assignment, Assumption and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar)

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Exh. Date: ------------------------------------ By: ------------------------------------ Name: Title: EXHIBIT B-1 SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE SERVXXXXX XXXXXXXX XX XX XXXXXXXXX XX XXXXXXXXXX XX XXXXXIANCE The assessment of compliance to be delivered by [the Company] [Name of Subservicer] shall address, at a minimum, the criteria identified as below as "Applicable Servicing Criteria"; -------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria -------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Reference Criteria -------------------------------------------------------------------------------- ------------------------------------------------------------------------------- General Servicing Considerations -------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Policies and procedures are instituted to monitor any performance or other triggers and events of default in X 1122(d)(1)(i) accordance with the transaction agreements. -------------------------------------------------------------------------------- 1122(d)(1)(i) ------------------------------------------------------------------------------- If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third X party's performance and compliance with such 1122(d)(1)(ii) servicing activities. -------------------------------------------------------------------------------- 1122(d)(1)(ii) ------------------------------------------------------------------------------- Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage 1122(d)(1)(iii) loans are maintained. -------------------------------------------------------------------------------- 1122(d)(1)(iii) ------------------------------------------------------------------------------- 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 X of coverage required by and otherwise in accordance 1122(d)(1)(iv) with the terms of the transaction agreements. -------------------------------------------------------------------------------- 1122(d)(1)(iv) ------------------------------------------------------------------------------- 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 X following receipt, or such other number of days 1122(d)(2)(i) specified in the transaction agreements. -------------------------------------------------------------------------------- 1122(d)(2)(i) ------------------------------------------------------------------------------- Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized X personnel. 1122(d)(2)(ii) authorized personnel. -------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other X fees charged for such advances, are made, reviewed and 1122(d)(2)(iii) X approved as specified in the transaction agreements. -------------------------------------------------------------------------------- 1122(d)(2)(iii) ------------------------------------------------------------------------------- The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately X maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. 1122(d)(2)(iv) ------------------------------------------------------------------------------- EXH. B-1-1 ------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------- Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, "federally insured X depository institution" with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1 (b)(1) of the Securities Exchange Act. 1122(d)(2)(v) ------------------------------------------------------------------------------- Unissued checks are safeguarded so as to prevent unauthorized access. 1122(d)(2)(vi) ------------------------------------------------------------------------------- Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction X agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. 1122(d)(2)(vii) ------------------------------------------------------------------------------- Investor Remittances and Reporting ------------------------------------------------------------------------------- Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information X calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of mortgage loans serviced by the Servicer. 1122(d)(3)(i) ------------------------------------------------------------------------------- Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and X other terms set forth in the transaction agreements. 1122(d)(3)(ii) ------------------------------------------------------------------------------- Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days X specified in the transaction agreements. 1122(d)(3)(iii) ------------------------------------------------------------------------------- Amounts remitted to investors per the investor reports agree with cancelled checks, or other X form of payment, or custodial bank statements. 1122(d)(3)(iv) ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------- Pool Asset Administration ------------------------------------------------------------------------------- Collateral or security on mortgage loans is maintained as required by the transaction X agreements or related mortgage loan documents. 1122(d)(4)(i) ------------------------------------------------------------------------------- Mortgage loan and related documents are safeguarded as required by the transaction X agreements 1122(d)(4)(ii) ------------------------------------------------------------------------------- Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements X in the transaction agreements. 1122(d)(4)(iii) ------------------------------------------------------------------------------- Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such X other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents. 1122(d)(4)(iv) ------------------------------------------------------------------------------- The Servicer's records regarding the mortgage loans agree with the Servicer's records with respect to an X obligor's unpaid principal balance. 1122(d)(4)(v) ------------------------------------------------------------------------------- Changes with respect to the terms or status of an obligor's mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by X authorized personnel in accordance with the transaction agreements and related pool asset documents. 1122(d)(4)(vi) ------------------------------------------------------------------------------- Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, X conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. 1122(d)(4)(vii) ------------------------------------------------------------------------------- Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and X describe the entity's activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). 1122(d)(4)(viii) ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Servicing Criteria Applicable Servicing Criteria ------------------------------------------------------------------------------- Reference Criteria ------------------------------------------------------------------------------- Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed X based on the related mortgage loan documents. 1122(d)(4)(ix) ------------------------------------------------------------------------------- Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, X or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements. 1122(d)(4)(x) ------------------------------------------------------------------------------- Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the X servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. 1122(d)(4)(xi) ------------------------------------------------------------------------------- Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the X obligor, unless the late payment was due to the obligor's error or omission. 1122(d)(4)(xii) ------------------------------------------------------------------------------- Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other X number of days specified in the transaction agreements. 1122(d)(4)(xiii) ------------------------------------------------------------------------------- Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in X accordance with the transaction agreements. 1122(d)(4)(xiv) ------------------------------------------------------------------------------- Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. 1122(d)(4)(xv) ------------------------------------------------------------------------------- [THE HEMISPHERE NATIONAL BANK] [NAME OF SUBSERVICER] Date: ------------------------------------ By: ------------------------------------ Name: Title: EXHIBIT C-1 Additional Disclosure Notification Wells Fargo Bank, N.A. as [Securities Administrator and Master Sxxxxxer] 9062 Old Annapolis Road Columbia, Maryland 21045 Fax: (410) 715-0000 X-xxxx: xxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xom Attx: Xxxxxxxxx Trust Servxxxx - XXX 0000-00XX - XXX XXXXXX XXOCESSING RE: **Additional Form [ ] Disclosure**Required Ladies and Gentlemen: In accordance with Section [34.03(d)][34.03(e)][34.03(g)] of the Sale and Servicing Agreement, dated as of December 1, 2005, as amended by the Assignment, Assumption and Recognition Agreement dated as of [date], among Morgan Stanley Capital I Inc., as Depositor, The Hemisphere Natixxxx Xaxx, Xxxls Fargo Bank, National Association, as Master Servicer, and XxXxxle Bank National Association as Trustee. The Undersigned hereby notifies you that certain events have come to our attention that [will][may] need to be disclosed on Form [ ]. Description of Additional Form [ ] Disclosure: List of Any Attachments hereto to be included in the Additional Form [ ] Disclosure: Any inquiries related to this notification should be directed to [ ], phone number: [ ]; email address: [ ]. [NAME OF PARTY] as [role] By: __________________ Name: Title:

Appears in 1 contract

Samples: Assignment and Recognition Agreement (Morgan Stanley Mortgage Loan Trust 2006-12xs)

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