Liability of the Servicer. (a) Notwithstanding any Subservicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer and a Subservicer or reference to actions taken through a Subservicer or otherwise, the Servicer shall under all circumstances remain obligated and primarily liable to the Indenture Trustee and the Noteholders for the servicing and administering of the Mortgage Loans and any REO Property in accordance with this Agreement. The obligations and liability of the Servicer shall not be diminished by virtue of Subservicing Agreements or by virtue of indemnification of the Servicer by any Subservicer, or any other Person. The obligations and liability of the Servicer shall remain of the same nature and under the same terms and conditions as if the Servicer alone were servicing and administering the related Mortgage Loans. The Servicer shall, however, be entitled to enter into indemnification agreements with any Subservicer or other Person and nothing in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer shall be deemed to have received any payment on a Mortgage Loan on the date the Subservicer received such payment.
Appears in 7 contracts
Samples: Sale and Servicing Agreement (NovaStar Certificates Financing CORP), Sale and Servicing Agreement (NovaStar Certificates Financing CORP), Sale and Servicing Agreement (NovaStar Certificates Financing CORP)
Liability of the Servicer. (a) Notwithstanding any Subservicing Agreementsub-servicing agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer or Special Servicer and a Subservicer any Person acting as sub-servicer (or its agents or subcontractors) or any reference to actions taken through a Subservicer any Person acting as sub-servicer or otherwise, the Servicer or Special Servicer, as applicable, shall under all circumstances remain obligated and primarily liable to the Indenture Trustee and the Noteholders Certificateholders for the servicing and administering of the Mortgage Loans and any REO Property in accordance with the provisions of this Agreement. The obligations and Agreement without diminution of such obligation or liability of the Servicer shall not be diminished by virtue of Subservicing Agreements such sub-servicing agreements or arrangements or by virtue of indemnification of from the Servicer by any Subservicer, Depositor or any other Person. The obligations and liability of the Servicer shall remain of Person acting as sub-servicer (or its agents or subcontractors) to the same nature extent and under the same terms and conditions as if the Servicer or Special Servicer, as applicable, alone were servicing and administering the related Mortgage Loans. The Each of the Servicer shall, however, and the Special Servicer shall be entitled to enter into indemnification agreements an agreement with any Subservicer sub-servicer providing for indemnification of the Servicer or other Person Special Servicer, as applicable, by such sub-servicer, and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer but no such agreement for indemnification shall be deemed to have received any payment on a Mortgage Loan on the date the Subservicer received such paymentlimit or modify this Agreement.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Deutsche Mortgage & Asset Receiving Corp), Pooling and Servicing Agreement (Asset Securitization Corp Series 1997-D5), Pooling and Servicing Agreement (Amresco Commercial Mortgage Funding I Corp)
Liability of the Servicer. (a) Notwithstanding any Subservicing Agreementsub-servicing agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer or Special Servicer and a Subservicer any Person acting as sub-servicer (or its agents or subcontractors) or any reference to actions taken through a Subservicer any Person acting as sub-servicer or otherwise, the Servicer or the Special Servicer, as applicable, shall under all circumstances remain obligated and primarily liable to the Indenture Trustee and the Noteholders Certificateholders for the servicing and administering of the Mortgage Loans and any REO Property in accordance with the provisions of this Agreement. The obligations and Agreement without diminution of such obligation or liability of the Servicer shall not be diminished by virtue of Subservicing Agreements such sub-servicing agreements or arrangements or by virtue of indemnification of from the Servicer by any Subservicer, Depositor or any other Person. The obligations and liability of the Servicer shall remain of Person acting as sub-servicer (or its agents or subcontractors) to the same nature extent and under the same terms and conditions as if the Servicer alone or Special Servicer, as applicable, were servicing and administering the related Mortgage LoansLoans alone. The Servicer shallor the Special Servicer, howeveras applicable, shall be entitled to enter into indemnification agreements an agreement with any Subservicer sub-servicer providing for indemnification of the Servicer or other Person the Special Servicer, as applicable, by such sub-servicer, and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer but no such agreement for indemnification shall be deemed to have received any payment on a Mortgage Loan on the date the Subservicer received such paymentlimit or modify this Agreement.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Commercial Mortgage Acceptance Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)
Liability of the Servicer. (a) Notwithstanding any Subservicing Sub‑Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer and a Subservicer Sub‑Servicer or reference to actions taken through a Subservicer Sub‑Servicer or otherwise, the Servicer shall under all circumstances remain obligated and primarily liable to the Indenture Trustee Trust and the Noteholders Certificateholders for the servicing and administering of the Mortgage Loans and any REO Property in accordance with this Agreement. The obligations and the provisions of Section 3.01 without diminution of such obligation or liability of the Servicer shall not be diminished by virtue of Subservicing such Sub‑Servicing Agreements or arrangements or by virtue of indemnification of from the Servicer by any Subservicer, or any other Person. The obligations Sub‑Servicer and liability of the Servicer shall remain of to the same nature extent and under the same terms and conditions as if the Servicer alone were servicing and administering the related Mortgage Loans. The Servicer shall, however, shall be entitled to enter into any agreement with a Sub‑Servicer for indemnification agreements with any Subservicer or other Person of the Servicer by such Sub‑Servicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer indemnification and no such indemnification shall be deemed to have received any payment on a Mortgage Loan on an expense of the date the Subservicer received such paymentTrust.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2007-He1), Pooling and Servicing Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2007-He2), Pooling and Servicing Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2006-He3)
Liability of the Servicer. (a) Notwithstanding any Subservicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer and a Subservicer or reference to actions taken through a Subservicer or otherwise, the Servicer shall under all circumstances remain obligated and primarily liable to the Indenture Certificate Administrator, the Trustee and the Noteholders Certificateholders for the servicing and administering of the Mortgage Loans and any REO Property in accordance with this Agreement. The obligations and liability of the Servicer shall not be diminished by virtue of Subservicing Agreements or by virtue of indemnification of the Servicer by any Subservicer, or any other Person. The obligations and liability of the Servicer shall remain of the same nature and under the same terms and conditions as if the Servicer alone were servicing and administering the related Mortgage Loans. The Servicer shall, however, be entitled to enter into indemnification agreements with any Subservicer or other Person and nothing in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer shall be deemed to have received any payment on a Mortgage Loan on the date the Subservicer received such payment.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Novastar Mortgage Funding Corp Trust Series 2002-3), Pooling and Servicing Agreement (Novastar Mortgage Funding Corp Series 2002-2), Pooling and Servicing Agreement (Novastar Mortgage Funding Trust Series 2002-1)
Liability of the Servicer. (a) Notwithstanding any Subservicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer and a Subservicer or reference to actions taken through a Subservicer or otherwise, the Servicer shall under all circumstances remain obligated and primarily liable to the Indenture Trustee and Certificate Administrator, the Noteholders Trustee, the Certificateholders for the servicing and administering of the Mortgage Loans and any REO Property in accordance with this Agreement. The obligations and liability of the Servicer shall not be diminished by virtue of Subservicing Agreements or by virtue of indemnification of the Servicer by any Subservicer, or any other Person. The obligations and liability of the Servicer shall remain of the same nature and under the same terms and conditions as if the Servicer alone were servicing and administering the related Mortgage Loans. The Servicer shall, however, be entitled to enter into indemnification agreements with any Subservicer or other Person and nothing in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer shall be deemed to have received any payment on a Mortgage Loan on the date the Subservicer received such payment.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Novastar Mortgage Funding Trust Series 2001-1), Pooling and Servicing Agreement (Novastar Mortgage Funding Corp), Pooling and Servicing Agreement (Residential Asset Funding Corp)
Liability of the Servicer. (a) Notwithstanding any Subservicing Sub-Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer and a Subservicer Sub-Servicer or reference to actions taken through a Subservicer Sub-Servicer or otherwise, the Servicer shall under all circumstances remain obligated and primarily liable to the Indenture Trustee Trustee, the Depositor and the Noteholders Certificateholders for the servicing and administering of the Mortgage Loans and any REO Property in accordance with this Agreement. The obligations and the provisions of Section 3.01 without diminution of such obligation or liability of the Servicer shall not be diminished by virtue of Subservicing such Sub-Servicing Agreements or arrangements or by virtue of indemnification of from the Sub-Servicer by any Subservicer, or any other Person. The obligations and liability of the Servicer shall remain of to the same nature extent and under the same terms and conditions as if the Servicer alone were servicing and administering the related Mortgage Loans. The Servicer shall, however, shall be entitled to enter into any agreement with a Sub-Servicer for indemnification agreements with any Subservicer or other Person of the Servicer by such Sub-Servicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer shall be deemed to have received any payment on a Mortgage Loan on the date the Subservicer received such payment.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (GE-WMC Asset-Backed Pass-Through Trust, Series 2006-1), Pooling and Servicing Agreement (GE-WMC Asset-Backed Pass Through Certificates, Series 2005-1), Pooling and Servicing Agreement (GE-WMC Mortgage Securities, L.L.C.)
Liability of the Servicer. (a) Notwithstanding any Subservicing Agreement, any of Sub-Servicing Agreement or the provisions of this Agreement relating to agreements or arrangements between the Servicer and a Subservicer Sub-Servicer or reference to actions taken through a Subservicer Sub-Servicer or otherwise, the Servicer shall under all circumstances remain obligated and primarily liable to the Indenture Trustee Trustee, the Master Servicer, the Trust Administrator and the Noteholders Certificateholders for the servicing and administering of the Mortgage Loans and any REO Property in accordance with this Agreement. The obligations and the provisions of Section 3.01 without diminution of such obligation or liability of the Servicer shall not be diminished by virtue of Subservicing such Sub-Servicing Agreements or arrangements or by virtue of indemnification of from the Sub-Servicer by any Subservicer, or any other Person. The obligations and liability of the Servicer shall remain of to the same nature extent and under the same terms and conditions as if the Servicer alone were servicing and administering the related Mortgage Loans. The Servicer shall, however, shall be entitled to enter into any agreement with a Sub-Servicer for indemnification agreements with any Subservicer or other Person of the Servicer by such Sub-Servicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer shall be deemed to have received any payment on a Mortgage Loan on the date the Subservicer received such payment.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2004-B), Pooling and Servicing Agreement (Financial Asset Sec Corp Fremont Home Loan Trust 2003 A)
Liability of the Servicer. (a) Notwithstanding any Subservicing Agreementsub-servicing agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer or Special Servicer and a Subservicer any Person acting as sub-servicer (or its agents or subcontractors) or any reference to actions taken through a Subservicer any Person acting as sub-servicer or otherwise, the Servicer or the Special Servicer, as applicable, shall under all circumstances remain obligated and primarily liable to the Indenture Trustee and the Noteholders Certificateholders for the servicing and administering of the Mortgage Loans and any REO Property in accordance with the provisions of this Agreement. The obligations and Agreement without diminution of such obligation or liability of the Servicer shall not be diminished by virtue of Subservicing Agreements such sub-servicing agreements or arrangements or by virtue of indemnification of from the Servicer by any Subservicer, Depositor or any other Person. The obligations and liability of the Servicer shall remain of Person acting as sub-servicer (or its agents or subcontractors) to the same nature extent and under the same terms and conditions as if the Servicer alone or Special Servicer, as applicable, were servicing and administering the related Mortgage LoansLoans alone. The Servicer shallor the Special Servicer, howeveras applicable, shall be entitled to enter into indemnification agreements an agreement with any Subservicer sub-servicer providing for indemnification of the Servicer or other Person the Special Servicer, as applicable, by such sub-servicer, and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer but no such agreement for indemnification shall be deemed to have received any payment on a Mortgage Loan on the date the Subservicer received such paymentlimit or modify this Agreement.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Midland Realty Accept Corp Com Mort Pass THR Cert Se 1996-C1), Pooling and Servicing Agreement (Midland Realty Accept Corp Com Mort Pass THR Cert Se 1996 C2)
Liability of the Servicer. (a) Notwithstanding the provisions of any Subservicing Sub-Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer and or a Subservicer Sub-Servicer or reference to actions taken through a Subservicer Sub-Servicer or otherwise, the Servicer shall under all circumstances remain obligated and primarily liable to the Indenture Trustee Depositor, the Trustee, the Insurer and the Noteholders Certificateholders for the servicing and administering of the Mortgage Loans and any REO Property included in the Trust Fund in accordance with (and subject to the limitations contained within) the provisions of this Agreement. The obligations and Agreement without diminution of such obligation or liability of the Servicer shall not be diminished by virtue of Subservicing such Sub-Servicing Agreements or agreements or arrangements or by virtue of indemnification of from the Sub-Servicer by any Subservicer, or any other Person. The obligations and liability of the Servicer shall remain of to the same nature extent and under the same terms and conditions as if the Servicer alone were servicing and administering the related Mortgage Loans. The Servicer shall, however, shall be entitled to enter into any agreement with the Depositor or a Sub-Servicer for indemnification agreements with any Subservicer or other Person of the Servicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer shall be deemed to have received any payment on a Mortgage Loan on the date the Subservicer received such payment.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (Asset Backed Securities Corp)
Liability of the Servicer. (a) Notwithstanding the provisions of any Subservicing Sub-Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer and or a Subservicer Sub-Servicer or reference to actions taken through a Subservicer Sub- Servicer or otherwise, the Servicer shall under all circumstances remain obligated and primarily liable to the Indenture Trustee Depositor, the Trustee, the Insurer and the Noteholders Certificateholders for the servicing and administering of the Mortgage Loans and any REO Property included in the Trust Fund in accordance with (and subject to the limitations contained within) the provisions of this Agreement. The obligations and Agreement without diminution of such obligation or liability of the Servicer shall not be diminished by virtue of Subservicing such Sub-Servicing Agreements or agreements or arrangements or by virtue of indemnification of from the Sub-Servicer by any Subservicer, or any other Person. The obligations and liability of the Servicer shall remain of to the same nature extent and under the same terms and conditions as if the Servicer alone were servicing and administering the related Mortgage Loans. The Servicer shall, however, shall be entitled to enter into any agreement with the Depositor or a Sub-Servicer for indemnification agreements with any Subservicer or other Person of the Servicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer shall be deemed to have received any payment on a Mortgage Loan on the date the Subservicer received such payment.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Liability of the Servicer. (a) Notwithstanding any Subservicing Agreement, any of the provisions of this Servicing Agreement relating to agreements or arrangements between the Servicer and a Subservicer or reference to actions taken through a Subservicer or otherwise, the Servicer shall under all circumstances remain obligated and primarily liable to the Issuer, the Indenture Trustee Trustee, the Depositor, the Seller, the Originator and the Noteholders Securityholders for the servicing and administering of the Mortgage Loans and any REO Property in accordance with this Agreement. The obligations and the provisions of Section 3.01 without diminution of such obligation or liability of the Servicer shall not be diminished by virtue of such Subservicing Agreements or arrangements or by virtue of indemnification of from the Servicer by any Subservicer, or any other Person. The obligations Subservicer and liability of the Servicer shall remain of to the same nature extent and under the same terms and conditions as if the Servicer alone were servicing and administering the related Mortgage Loans. The Servicer shall, however, shall be entitled to enter into any agreement with a Subservicer for indemnification agreements with any of the Servicer by such Subservicer or other Person and nothing contained in this Servicing Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer shall be deemed to have received any payment on a Mortgage Loan on the date the Subservicer received such payment.
Appears in 2 contracts
Samples: Servicing Agreement (GE-WMC Mortgage Securities, L.L.C.), Servicing Agreement (GE-WMC Mortgage Securities, L.L.C.)
Liability of the Servicer. (a) Notwithstanding any Subservicing Agreement, any of Sub-Servicing Agreement or the provisions of this Agreement relating to agreements or arrangements between the Servicer and a Subservicer Sub-Servicer or reference to actions taken through a Subservicer Sub-Servicer or otherwise, the Servicer shall under all circumstances remain obligated and primarily liable to the Indenture Trustee and the Noteholders Certificateholders for the servicing and administering of the Mortgage Loans and any REO Property in accordance with this Agreement. The obligations and the provisions of Section 3.01, without diminution of such obligation or liability of the Servicer shall not be diminished by virtue of Subservicing such Sub-Servicing Agreements or arrangements or by virtue of indemnification of from the Sub-Servicer by any Subservicer, or any other Person. The obligations and liability of the Servicer shall remain of to the same nature extent and under the same terms and conditions as if the Servicer alone were servicing and administering the related Mortgage Loans. The Servicer shall, however, shall be entitled to enter into any agreement with a Sub-Servicer for indemnification agreements with any Subservicer or other Person of the Servicer by such Sub- Servicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer shall be deemed to have received any payment on a Mortgage Loan on the date the Subservicer received such payment.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2004-Wmc2), Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2004-Fre1)
Liability of the Servicer. (a) Notwithstanding any Subservicing Sub-Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer and a Subservicer Sub-Servicer or reference to actions taken through a Subservicer Sub-Servicer or otherwise, the Servicer shall under all circumstances remain obligated and primarily liable to the Indenture Trustee Trust and the Noteholders Certificateholders for the servicing and administering of the Mortgage Loans and any REO Property in accordance with this Agreement. The obligations and the provisions of Section 3.01 without diminution of such obligation or liability of the Servicer shall not be diminished by virtue of Subservicing such Sub-Servicing Agreements or arrangements or by virtue of indemnification of the from a Sub-Servicer by any Subservicer, or any other Person. The obligations and liability of the Servicer shall remain of to the same nature extent and under the same terms and conditions as if the Servicer alone were servicing and administering the related Mortgage Loans. The Servicer shall, however, shall be entitled to enter into any agreement with a Sub-Servicer for indemnification agreements with any Subservicer or other Person of the Servicer by such Sub-Servicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer indemnification and no such indemnification shall be deemed to have received any payment on a Mortgage Loan on an expense of the date the Subservicer received such paymentTrust.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He2), Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He2)
Liability of the Servicer. (a) Notwithstanding any Subservicing Agreementsub-servicing agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer or Special Servicer and a Subservicer any Person acting as sub-servicer (or its agents or subcontractors) or any reference to actions taken through a Subservicer any Person acting as sub-servicer or otherwise, the Servicer or Special Servicer, as applicable, shall under all circumstances remain obligated and primarily liable to the Indenture Trustee (on behalf of the Certificateholders) the Bond Administrator, Certificateholders and each Companion Holder with respect to the Noteholders related Companion Loan for the servicing and administering of the Mortgage Loans and any REO Property Companion Loans in accordance with the provisions of this Agreement. The obligations and Agreement without diminution of such obligation or liability of the Servicer shall not be diminished by virtue of Subservicing Agreements such sub-servicing agreements or arrangements or by virtue of indemnification of from the Servicer by any Subservicer, Depositor or any other Person. The obligations and liability of the Servicer shall remain of Person acting as sub-servicer (or its agents or subcontractors) to the same nature extent and under the same terms and conditions as if the Servicer or Special Servicer, as applicable, alone were servicing and administering the related Mortgage Loans and Companion Loans. The Each of the Servicer shall, however, and the Special Servicer shall be entitled to enter into indemnification agreements an agreement with any Subservicer sub-servicer providing for indemnification of the Servicer or other Person Special Servicer, as applicable, by such sub-servicer, and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer but no such agreement for indemnification shall be deemed to have received any payment on a Mortgage Loan on the date the Subservicer received such paymentlimit or modify this Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Deutsche Mortgage & Asset Receiving Corp Series 2000-C1)
Liability of the Servicer. (a) Notwithstanding the provisions of any Subservicing Sub-Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer and or a Subservicer Sub-Servicer or reference to actions taken through a Subservicer Sub- Servicer or otherwise, the Servicer shall under all circumstances remain obligated and primarily liable to the Indenture Trustee Seller, the Trustee, the Certificate Insurer and the Noteholders Certificateholders for the servicing and administering of the Mortgage Loans and any REO Property included in the Trust Fund in accordance with (and subject to the limitations contained within) the provisions of this Agreement. The obligations and Agreement without diminution of such obligation or liability of the Servicer shall not be diminished by virtue of Subservicing such Sub-Servicing Agreements or agreements or arrangements or by virtue of indemnification of from the Sub-Servicer by any Subservicer, or any other Person. The obligations and liability of the Servicer shall remain of to the same nature extent and under the same terms and conditions as if the Servicer alone were servicing and administering the related Mortgage Loans. The Servicer shall, however, shall be entitled to enter into any agreement with the Seller or a Sub-Servicer for indemnification agreements with any Subservicer or other Person of the Servicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer shall be deemed to have received any payment on a Mortgage Loan on the date the Subservicer received such payment.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chevy Chase Bank FSB)
Liability of the Servicer. (a) Notwithstanding any Subservicing Agreementsub-servicing agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer (but subject to the last sentence of Section 3.01(c)) and a Subservicer any Person acting as sub-servicer (or its agents or subcontractors) or any reference to actions taken through a Subservicer any Person acting as sub-servicer or otherwise, the Servicer shall under all circumstances remain obligated and primarily liable to the Indenture Trustee and the Noteholders Certificateholders for the servicing and administering of the Mortgage Loans and any REO Property Loan in accordance with this Agreement. The obligations and the provisions of Section 3.01 without diminution of such obligation or liability of the Servicer shall not be diminished by virtue of Subservicing Agreements any sub-servicing agreement or arrangement, or by virtue of indemnification of the Servicer by from any Subservicer, Person acting as sub-servicer (or any other Person. The obligations and liability of the Servicer shall remain of its agents or subcontractors) to the same nature extent and under the same terms and conditions as if the Servicer alone were servicing and administering the related Mortgage LoansLoan. The Servicer shall, however, shall be entitled to enter into indemnification agreements an agreement with any Subservicer or other Person sub-servicer providing for indemnification of the Servicer by such sub-servicer, and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer but no such agreement for indemnification shall be deemed to have received any payment on a Mortgage Loan on the date the Subservicer received such paymentlimit or modify this Agreement.
Appears in 1 contract
Samples: Trust and Servicing Agreement (Hospitality Properties Trust)
Liability of the Servicer. (a) Notwithstanding any Subservicing Sub-Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer and a Subservicer Sub-Servicer or reference to actions taken through a Subservicer Sub-Servicer or otherwise, the Servicer shall under all circumstances remain primarily obligated and primarily liable to the Issuer and the Indenture Trustee and the Noteholders for the servicing and administering of the Mortgage Loans and any REO Property in accordance with the provisions of this Agreement. The obligations and Agreement without diminution of such obligation or liability of the Servicer shall not be diminished by virtue of Subservicing Agreements such Sub-Servicing Agreement or arrangements or by virtue of indemnification of from the Sub-Servicer by any Subservicer, or any other Person. The obligations and liability of the Servicer shall remain of to the same nature extent and under the same terms and conditions as if the Servicer alone were servicing and administering the related Mortgage Loans. The Servicer shall, however, shall be entitled to enter into any agreement with a Sub-Servicer for indemnification agreements with any Subservicer or other Person of the Servicer by such Sub-Servicer, and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer shall be deemed to have received any payment on a Mortgage Loan on the date the Subservicer received such payment.
Appears in 1 contract
Liability of the Servicer. (a) Notwithstanding any Subservicing Sub-Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Servicer and a Subservicer Sub-Servicer or reference to actions taken through a Subservicer Sub-Servicer or otherwise, the Servicer shall under all circumstances remain obligated and primarily liable to the Indenture Trustee Trust Fund and the Noteholders Certificateholders for the servicing and administering of the related Mortgage Loans and any REO Property in accordance with this Agreement. The obligations and the provisions of Section 3.01 without diminution of such obligation or liability of the Servicer shall not be diminished by virtue of Subservicing such Sub-Servicing Agreements or arrangements or by virtue of indemnification of from the related Sub-Servicer by any Subservicer, or any other Person. The obligations and liability of the Servicer shall remain of to the same nature extent and under the same terms and conditions as if the Servicer alone were servicing and administering the related Mortgage Loans. The Servicer shall, however, shall be entitled to enter into any agreement with a Sub-Servicer for indemnification agreements with any Subservicer or other Person of the Servicer by such Sub-Servicer and nothing contained in this Agreement shall be deemed to limit or modify such indemnification. For the purposes of this Agreement, the Servicer indemnification and no such indemnification shall be deemed to have received any payment on a Mortgage Loan on an expense of the date the Subservicer received such paymentTrust.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Asset Backed Sec Corp Pass Through Certificates Ser 2002-He3)