Common use of LIABILITY OF EACH MASTER SERVICER Clause in Contracts

LIABILITY OF EACH MASTER SERVICER. (a) Notwithstanding any Sub-Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between a Master Servicer and a Sub-Servicer or reference to actions taken through a Sub-Servicer or otherwise, the NAMC Master Servicer and the PHH Master Servicer shall under all circumstances remain obligated and primarily liable to the Trustee and the Certificateholders for the servicing and administering of the NAMC Mortgage Loans and the PHH Mortgage Loans, respectively, and any related REO Property in accordance with this Agreement. The obligations and liability of the NAMC Master Servicer and the PHH Master Servicer shall not be diminished by virtue of Sub-Servicing Agreements or by virtue of indemnification of NAMC or PHH by any Sub-Servicer, or any other Person. The obligations and liability of each Master Servicer shall remain of the same nature and under the same terms and conditions as if such Master Servicer alone were servicing and administering the related Mortgage Loans. Each Master Servicer shall, however, be entitled to enter into indemnification agreements with any Sub-Servicer or other Person and nothing in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the NAMC Master Servicer and the PHH Master Servicer shall be deemed to have received any payment on an NAMC Mortgage Loan or a PHH Mortgage Loan, respectively, on the date the Sub-Servicer received such payment; PROVIDED, HOWEVER, that this sentence shall not apply to the Trustee acting as a Master Servicer; PROVIDED, FURTHER, HOWEVER, that the foregoing provision shall not affect the obligation of a Master Servicer if it is also the Trustee to advance amounts which are not Nonrecoverable Advances.

LIABILITY OF EACH MASTER SERVICER. (a) Notwithstanding any Sub-Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between a Master Servicer and a Sub-Servicer or reference to actions taken through a Sub-Servicer or otherwise, the NAMC CMC Master Servicer and the PHH NBMC Master Servicer shall under all circumstances remain obligated and primarily liable to the Trustee and the Certificateholders for the servicing and administering of the NAMC CMC Mortgage Loans and the PHH NBMC Mortgage Loans, respectively, and any related REO Property in accordance with this Agreement. The obligations and liability of the NAMC CMC Master Servicer and the PHH NBMC Master Servicer shall not be diminished by virtue of Sub-Servicing Agreements or by virtue of indemnification of NAMC CMC or PHH NBMC by any Sub-Servicer, or any other Person. The obligations and liability of each Master Servicer shall remain of the same nature and under the same terms and conditions as if such Master Servicer alone were servicing and administering the related Mortgage Loans. Each Master Servicer shall, however, be entitled to enter into indemnification agreements with any Sub-Servicer or other Person and nothing in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the NAMC CMC Master Servicer and the PHH NBMC Master Servicer shall be deemed to have received any payment on an NAMC a CMC Mortgage Loan or a PHH an NBMC Mortgage Loan, respectively, on the date the Sub-Servicer received such payment; PROVIDED, HOWEVER, that this sentence shall not apply to the Trustee acting as a Master Servicer; PROVIDED, FURTHER, HOWEVER, that the foregoing provision shall not affect the obligation of a Master Servicer if it is also the Trustee to advance amounts which are not Nonrecoverable Advances.

LIABILITY OF EACH MASTER SERVICER. (a) Notwithstanding any Sub-Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between a Master Servicer and a Sub-Servicer or reference to actions taken through a Sub-Servicer or otherwise, the NAMC CMC Master Servicer and the PHH IndyMac Master Servicer shall under all circumstances remain obligated and primarily liable to the Trustee and the Certificateholders for the servicing and administering of the NAMC CMC Mortgage Loans and the PHH IndyMac Mortgage Loans, respectively, and any related REO Property in accordance with this Agreement. The obligations and liability of the NAMC CMC Master Servicer and the PHH IndyMac Master Servicer shall not be diminished by virtue of Sub-Servicing Agreements or by virtue of indemnification of NAMC CMC or PHH IndyMac by any Sub-Servicer, or any other Person. The obligations and liability of each Master Servicer shall remain of the same nature and under the same terms and conditions as if such Master Servicer alone were servicing and administering the related Mortgage Loans. Each Master Servicer shall, however, be entitled to enter into indemnification agreements with any Sub-Servicer or other Person and nothing in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the NAMC CMC Master Servicer and the PHH IndyMac Master Servicer shall be deemed to have received any payment on an NAMC a CMC Mortgage Loan or a PHH an IndyMac Mortgage Loan, respectively, on the date the Sub-Servicer received such payment; PROVIDED, HOWEVER, that this sentence shall not apply to the Trustee acting as a Master Servicer; PROVIDED, FURTHER, HOWEVER, that the foregoing provision shall not affect the obligation of a Master Servicer if it is also the Trustee to advance amounts which are not Nonrecoverable Advances.