Common use of Maintenance of Mortgage Impairment Insurance Clause in Contracts

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 57 contracts

Samples: Reconstituted Servicing Agreement (Structured Asset Securities Corp Mort Pass THR Cert Ser 2002), Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-15), Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2002 7)

AutoNDA by SimpleDocs

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer, the Trustee and the NIMS Insurer.

Appears in 52 contracts

Samples: Securitization Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Osi), Securitization Servicing Agreement (Fieldstone Mortgage Investment CORP), Securitization Servicing Agreement (BNC Mortgage Loan Trust 2007-3)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with Accepted Servicing Practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy certificate of such policy insurance and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 47 contracts

Samples: Reconstituted Servicing Agreement (Lehman Xs Trust Series 2005-3), Custodial Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He3), Reconstituted Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-Wf2)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the CompanyServicer's funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Servicer shall cause to be delivered to such Purchaser the Master Servicer a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer.

Appears in 37 contracts

Samples: Correspondent Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-22), Correspondent Servicing Agreement (Structured Asset Securities Corp 2004-18h), Correspondent Servicing Agreement (Structured Asset Securities Corp)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's ’s funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 37 contracts

Samples: Assignment and Assumption (Structured Adjustable Rate Mortgage Loan Trust Series 2007-7), Assumption and Recognition Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-26), Assignment and Assumption (Structured Adjustable Rate Mortgage Loan Trust Series 2006-7)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with Accepted Servicing Practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy certificate of such policy insurance and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such Purchaser.

Appears in 35 contracts

Samples: Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-5), Warranties and Servicing Agreement (STARM Mortgage Loan Trust 2007-3), Warranties and Servicing Agreement (J.P. Morgan Mortgage Acquisition Trust 2006-Wf1)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.04. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such Purchaser person a certified true copy certificate of insurance of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer, the Trustee and the NIMS Insurer.

Appears in 34 contracts

Samples: Subservicing Agreement (BNC Mortgage Loan Trust 2006-1), Subservicing Agreement (Structured Asset Investment Loan Trust 2006-1), Subservicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2006-Bc5)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.10 and otherwise complies with all other requirements of Section 4.103.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.10. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer or the NIMS Insurer, the Company Servicer shall cause to be delivered to such Purchaser party a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer or the NIMS Insurer.

Appears in 28 contracts

Samples: Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Osi), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Series 2003 Bc3), Securitization Servicing Agreement (Structured Asset Investment Loan Trust Series 2004-11)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with Accepted Servicing Practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 26 contracts

Samples: Warranties and Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Cer Ser 2002-8a), Warranties and Servicing Agreement (Lehman Sarm 2005-5), Warranties and Servicing Agreement (Structured Asset Securities Corp Mort Pa THR Ce Ser 2001-18a)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Seller shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.11 and otherwise complies with all other requirements of Section 4.102.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.11. Any amounts collected by the Company Seller under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.11, and there shall have been a loss which would have been covered by such policy, the Company Seller shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanySeller's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Seller shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such the Purchaser.

Appears in 24 contracts

Samples: Interim Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-22), Interim Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-22), Flow Interim Servicing Agreement (Structured Asset Securities Corp)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with Accepted Servicing Practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.054.5. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's ’s funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 20 contracts

Samples: Custodial Agreement (GSR Mortgage Loan Trust 2007-Ar1), Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-2f), Custodial Agreement (GSR Mortgage Loan Trust 2007-4f)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 4.02(k) and otherwise complies with all other requirements of Section 4.104.02(k), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.104.02(k). Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.054.02(e). Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.104.02(k), and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer or the Indenture Trustee, the Company Servicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer and the Indenture Trustee.

Appears in 19 contracts

Samples: Transfer and Servicing Agreement (Fieldstone Mortgage Investment Trust, Series 2006-2), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP), Custodial Agreement (NYMT Securities CORP)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with prudent servicing practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 16 contracts

Samples: Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Passthr Certs Ser 2003-38), Reconstituted Servicing Agreement (Structured Asset Sec Corp Pass THR Cert Ser 2002 Bc3), Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Pass-THR Certs Ser 2004-Gel1)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy certificate of such policy and a statement from insurance setting forth the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserrelated coverage.

Appears in 15 contracts

Samples: Reconstituted Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cer Se 2002-2), Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-3), Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Ser 2001 19)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's ’s funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy certificate of such policy and a statement from insurance setting forth the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserrelated coverage.

Appears in 14 contracts

Samples: Warranties and Servicing Agreement (Lehman XS Trust Series 2007-12n), Reconstituted Servicing Agreement (LXS 2007-3), Reconstituted Servicing Agreement (Lehman Mortgage Trust 2007-3)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such Purchaser person a certified true copy certificate of insurance of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer, the Trustee and the NIMS Insurer.

Appears in 14 contracts

Samples: Subservicing Agreement (Structured Asset Securities Corp), Securitization Subservicing Agreement (Structured Asset Investment Loan Trust 2004-6), Securitization Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc11)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserpolicy.

Appears in 14 contracts

Samples: Securitization Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Ar5), Securitization Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Ar4), Securitization Servicing Agreement (Lehman XS Trust Series 2006-12n)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy (1) names the Company as loss payee, (2) provides coverage in an amount equal to the amount required pursuant to Section 4.10 without coinsurance and (3) otherwise complies with Accepted Servicing Practices and all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with Accepted Servicing Practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy certificate of such policy insurance and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 13 contracts

Samples: Assumption and Recognition Agreement (Banc of America Funding 2006-2 Trust), Assignment, Assumption and Recognition Agreement (Banc of America Funding 2006-3 Trust), Assumption and Recognition Agreement (Banc of America Funding 2006-G Trust)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. Any such policy shall be issued by an issuer that has a Best rating of A:VI or better. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 11 contracts

Samples: Warranties and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-A2), Warranties and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-A3), Warranties and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-Oar4)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.04. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer, the Trustee and the NIMS Insurer.

Appears in 11 contracts

Samples: Securitization Servicing Agreement (First Franklin Mortgage Loan Trust 2006-Ffa), Securitization Servicing Agreement (First Franklin Mortgage Loan Trust 2006-Ff15), Securitization Servicing Agreement (First Franklin Mortgage Loan Trust 2006-FFB)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy issued by an insurer acceptable to Xxxxxx Mae or Xxxxxxx Mac insuring against hazard losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 4.02(j) and otherwise complies with all other requirements of Section 4.104.02(j), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. Any amounts collected by the Company under any 4.02(j), it being understood and agreed that such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which casecase the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with Section 4.104.02(j), and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of the Master Servicer and the Indenture Trustee, claims under any such amount to deposited from blanket policy in a timely fashion in accordance with the Company's funds, without reimbursement thereforterms of such policy. Upon request of any Purchaserthe Master Servicer or Indenture Trustee, the Company Servicer shall cause to be delivered to such Purchaser the Master Servicer or the Indenture Trustee, as applicable, a certified true copy of such policy and shall use its best efforts to obtain a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such Purchaserthe Master Servicer and the Indenture Trustee.

Appears in 11 contracts

Samples: Transfer and Servicing Agreement (Homebanc Corp), Transfer and Servicing Agreement (HomeBanc Mortgage Trust 2006-2), Transfer and Servicing Agreement (Homebanc Corp)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Special Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Transferred Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Special Servicer under any such policy relating to a Transferred Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Special Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Special Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer or the Trustee, the Company Special Servicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer.

Appears in 10 contracts

Samples: Servicing Agreement (Structured Asset Securities Corp. 2005-15), Special Servicing Agreement (Lehman Mortgae Trust 2005-3), Servicing Agreement (Structured Asset Securities Corp. 2005-14)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. Any such policy shall be issued by an issuer that has a Best rating of A:VI or better. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's ’s funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 9 contracts

Samples: Assignment, Assumption and Recognition Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2006-Ar1), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Servicer shall prepare and make any claims on the blanket policy as deemed necessary by the Servicer in accordance with Accepted Servicing Practices. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanyServicer's funds, without reimbursement therefor. Upon request of any Purchaserthe Owner, the Company Servicer shall cause to be delivered to such Purchaser Owner a certified true copy certificate of such policy insurance and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such PurchaserOwner.

Appears in 9 contracts

Samples: Assignment, Assumption and Recognition Agreement (Citigroup Mortgage Loan Trust Inc., Series 2006-Ar3), Assignment, Assumption and Recognition Agreement (Citigroup Mortgage Loan Trust 2007-2), Assignment, Assumption and Recognition Agreement (Bear Stearns ARM Trust 2007-2)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer and, at its request, the NIMS Insurer.

Appears in 8 contracts

Samples: Securitization Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Bc2), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-7), Securitization Servicing Agreement (Fremont Home Loan Trust 2004-3)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with Accepted Servicing Practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.054.5. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 8 contracts

Samples: Trust Agreement (GSAA Home Equity Trust 2005-3), Custodial Agreement (GSAA Home Equity Trust 2006-1), Custodial Agreement (GSAA Home Equity Trust 2006-3)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.04. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserpolicy.

Appears in 7 contracts

Samples: Securitization Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Ar6), Securitization Servicing Agreement (Lehman XS 2007-4n), Securitization Servicing Agreement (Greenpoint Mortgage Funding Trust 2007-Ar2)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Seller shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.11 and otherwise complies with all other requirements of Section 4.102.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.11. Any amounts collected by the Company Seller under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.11, and there shall have been a loss which would have been covered by such policy, the Company Seller shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's Seller’s funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Seller shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such the Purchaser.

Appears in 7 contracts

Samples: Flow Interim Servicing Agreement (Lehman XS Trust Series 2006-Gp2), Flow Interim Servicing Agreement (Lehman XS Trust Series 2007-15n), Flow Interim Servicing Agreement (Lehman XS Trust Series 2007-12n)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with Accepted Servicing Practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's ’s funds, without reimbursement therefor. Upon request of any the Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy certificate of such policy insurance and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such Purchaser.

Appears in 6 contracts

Samples: Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax), Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar), Warranties and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.10 and otherwise complies with all other requirements of Section 4.102.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.10. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Servicer shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such the Purchaser.

Appears in 6 contracts

Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-12), Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002 Hf1), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-5ax)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy (1) names the Company as loss payee, (2) provides coverage in an amount equal to the amount required pursuant to Section 4.10 without coinsurance, and (3) otherwise complies with Accepted Servicing Practices and all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with prudent servicing practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 6 contracts

Samples: Sale and Servicing Agreement (Banc of America Funding 2006-2 Trust), Sale and Servicing Agreement (Banc of America Funding 2006-5 Trust), Sale and Servicing Agreement (Banc of America Funding 2006-3 Trust)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.10 and otherwise complies with all other requirements of Section 4.103.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.10. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such Purchaser party a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer, the Trustee or the NIMS Insurer.

Appears in 6 contracts

Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc1), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc7), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2002 Bc4)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy (1) names the Company as loss payee, (2) provides coverage in an amount equal to the amount required pursuant to Section 4.10 without coinsurance and (3) otherwise complies with Accepted Servicing Practices and all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with Accepted Servicing Practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's ’s funds, without reimbursement therefor. Upon request of any the Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy certificate of such policy insurance and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 6 contracts

Samples: Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-1f), And Servicing Agreement (GSR Mortgage Loan Trust 2007-3f), And Servicing Agreement (GSR Mortgage Loan Trust 2007-3f)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy issued by an insurer acceptable to Xxxxxx Mae or Xxxxxxx Mac insuring against hazard losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 4.02(j) and otherwise complies with all other requirements of Section 4.104.02(j), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. Any amounts collected by the Company under any 4.02(j), it being understood and agreed that such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which casecase the Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with Section 4.104.02(j), and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with its activities as servicer of the Mortgage Loans, the Servicer agrees to prepare and present, on behalf of the Master Servicer and the Trustee, claims under any such amount to deposited from blanket policy in a timely fashion in accordance with the Company's funds, without reimbursement thereforterms of such policy. Upon request of any Purchaserthe Master Servicer or Trustee, the Company Servicer shall cause to be delivered to such Purchaser the Master Servicer or the Trustee, as applicable, a certified true copy of such policy and shall use its best efforts to obtain a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such Purchaserthe Master Servicer and the Trustee.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Homebanc Corp), Pooling and Servicing Agreement (Homebanc Corp), Pooling and Servicing Agreement (HomeBanc 2007-1)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.10 and otherwise complies with all other requirements of Section 4.102.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.10. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Owner, the Company Servicer shall cause to be delivered to such Purchaser the Owner a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Owner.

Appears in 5 contracts

Samples: Flow Servicing Agreement (GSR 2006-4f), Flow Servicing Agreement (GSR Mortgage Loan Trust 2006-1f), Flow Servicing Agreement (GSR Mortgage Loan Trust 2006-2f)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.10 and otherwise complies with all other requirements of Section 4.102.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.10. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanyServicer's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Servicer shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such the Purchaser.

Appears in 5 contracts

Samples: Servicing Agreement (Chevy Chase Preferred Capital Corp), Servicing Agreement (Franklin Finance Corp), Servicing Agreement (Flagstar Capital Corp)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 5.10 and otherwise complies with all other requirements of Section 4.105.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.105.10. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account or Escrow Account subject to withdrawal pursuant to Section 4.055.06. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.105.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account or Escrow Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's ’s funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 4 contracts

Samples: Warranties and Servicing Agreement (Sasco 2006-Bc3), Warranties and Servicing Agreement (Sasco 2006-Bc4), Reconstituted Servicing Agreement (Sail 2006-3)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire fire, flood and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Servicer shall prepare and make any claims on the blanket policy as deemed necessary by the Servicer in accordance with Accepted Servicing Practices. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanyServicer's funds, without reimbursement therefortherefore. Upon request of any Purchaserthe Owner, the Company Servicer shall cause to be delivered to such Purchaser Owner a certified true copy certificate of such policy insurance and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such PurchaserOwner.

Appears in 4 contracts

Samples: Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar2), Servicing Agreement (Luminent Mortgage Trust 2007-2), Trust Agreement (GSAA Home Equity Trust 2006-13)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. Any such policy shall be issued by an issuer that has a Best's rating of A:VI or better. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 4 contracts

Samples: Warranties and Servicing Agreement (Banc of America Funding 2006-2 Trust), Warranties and Servicing Agreement (Banc of America Funding 2006-3 Trust), Warranties and Servicing Agreement (Banc of America Funding 2007-a Trust)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Interim Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.11 and otherwise complies with all other requirements of Section 4.102.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.11. Any amounts collected by the Company Interim Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.11, and there shall have been a loss which would have been covered by such policy, the Company Interim Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's Interim Servicer’s funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Interim Servicer shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such the Purchaser.

Appears in 4 contracts

Samples: Flow Interim Servicing Agreement (Lehman XS Trust Series 2006-4n), Flow Interim Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-12), Flow Interim Servicing Agreement (Lehman XS Trust Series 2006-Gp2)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer or the Trustee, the Company Servicer shall cause to be delivered to such Purchaser person a certified true copy certificate of insurance of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer and the Trustee.

Appears in 4 contracts

Samples: Subservicing Agreement (SASCO Mortgage Loan Trust Series 2005-Gel1), Securitization Servicing Agreement (Wells Fargo Home Equity Trust Mort Pass Thru Cert Ser 2004-1), Subservicing Agreement (Structured Asset Sec Corp Mort Pass-THR Certs Ser 2004-Gel1)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Seller shall obtain and maintain maintain, at its own expense, a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.10 and otherwise complies with all other requirements of Section 4.102.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.10. Any amounts collected by the Company Seller under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.10, and there shall have been a loss which would have been covered by such policy, the Company Seller shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanySeller's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Seller shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such the Purchaser.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (BCAP LLC Trust 2008-Ind1), Assignment and Recognition Agreement (BCAP LLC Trust 2006-Aa2), Assignment and Recognition Agreement (BCAP LLC Trust 2007-Aa1)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.10 and otherwise complies with all other requirements of Section 4.102.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.10. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanyServicer's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Servicer shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such the Purchaser.

Appears in 4 contracts

Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-2ax), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-3xs), Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-1xs)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Seller shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.10 and otherwise complies with all other requirements of Section 4.102.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.10. Any amounts collected by the Company Seller under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.10, and there shall have been a loss which would have been covered by such policy, the Company Seller shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanySeller's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Seller shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such the Purchaser.

Appears in 3 contracts

Samples: Commercial Servicing Agreement (Peoples Preferred Capital Corp), Commercial Servicing Agreement (Peoples Preferred Capital Corp), Residential Servicing Agreement (Peoples Preferred Capital Corp)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Seller shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.11 and otherwise complies with all other requirements of Section 4.102.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.11. Any amounts collected by the Company Seller under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property or Cooperative Unit, as applicable, a policy complying with Section 4.102.11, and there shall have been a loss which would have been covered by such policy, the Company Seller shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanySeller's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Seller shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such the Purchaser.

Appears in 3 contracts

Samples: Reconstituted Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cer Se 2002-2), Flow Interim Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust), Flow Interim Servicing Agreement (Sturctured Asset Securities Corp Mort Pass Thru Ser 2004-1)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Subservicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Subservicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Subservicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Subservicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Servicer, the Trustee or the NIMS Insurer, the Subservicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserpolicy.

Appears in 3 contracts

Samples: Securitization Subservicing Agreement (Lehman XS Trust Series 2006-Gp2), Securitization Subservicing Agreement (Lehman XS Trust Series 2006-Gp1), Securitization Subservicing Agreement (Lehman XS Trust Series 2006-4n)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to each such Purchaserperson.

Appears in 3 contracts

Samples: Securitization Servicing Agreement (Aames Mortgage Tr Mort Pas Thru Cert Sers 2003-1), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003 Am1), Securitization Servicing Agreement (Structured Asset Inv Loan Mort Pass Thru Cer Ser 2003-Bc7)

Maintenance of Mortgage Impairment Insurance. In the event that the The Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on any or all of the Mortgage Loans, thenLoans and, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such the Purchaser.

Appears in 3 contracts

Samples: Warranties and Servicing Agreement (Structured Asset Securities Corp), 1998 Agreement (Structured Asset Securities Corp), Warranties and Servicing Agreement (Structured Asset Securities Corporation)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from flood, fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.10 and otherwise complies with all other requirements of Section 4.102.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.10. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Owner, the Company Servicer shall cause to be delivered to such Purchaser the Owner a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Owner.

Appears in 3 contracts

Samples: Flow Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa2), Flow Servicing Agreement (Deutsche Alt-B Securities Mortgage Loan Trust, Series 2006-Ab3), Flow Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Oa1)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.10 and otherwise complies with all other requirements of Section 4.103.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.10. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Servicer shall cause to be delivered to such Purchaser party a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer.

Appears in 3 contracts

Samples: Securitization Servicing Agreement (SASCO Mortgage Loan Trust 2004-Gel3), Securitization Servicing Agreement (Sasco Mortgage Loan Trust Series 2004-Gel2), Securitization Servicing Agreement (Sasco Mortgage Loan Trust Series 2003-Gel1)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 4.02(k) and otherwise complies with all other requirements of Section 4.104.02(k), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.104.02(k). Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.054.02(e). Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.104.02(k), and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the CompanyServicer's funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer or the Indenture Trustee, the Company Servicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 [30] days' prior written notice to such Purchaserthe Master Servicer and the Indenture Trustee.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (Cwabs Inc), Sale and Servicing Agreement (Cwalt Inc), Sale and Servicing Agreement (CWMBS Inc)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Interim Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.11 and otherwise complies with all other requirements of Section 4.102.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.11. Any amounts collected by the Company Interim Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.11, and there shall have been a loss which would have been covered by such policy, the Company Interim Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanyInterim Servicer's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Interim Servicer shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such the Purchaser.

Appears in 3 contracts

Samples: Flow Interim Servicing Agreement (Structured Asset Securities Corp Mort Pas-THR Cert Ser 2002-), Flow Interim Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Cer Ser 2002-8a), Flow Interim Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Cer Se 2002-1a)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.04. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer or the Trustee, the Company Servicer shall cause to be delivered to such Purchaser person a certified true copy certificate of insurance of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer and the Trustee.

Appears in 3 contracts

Samples: Subservicing Agreement (SASCO Mortgage Loan Trust Series 2005-Gel2), Subservicing Agreement (SASCO Mortgage Loan Trust Series 2005-Gel3), Securitization Subservicing Agreement (Structured Asset Securities Corporation, 2005-Gel4)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it the Servicer shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.04. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer, the Trustee and the NIMS Insurer.

Appears in 3 contracts

Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2003 Bc1), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc10), Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2003-Bc2)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with Accepted Servicing Practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's ’s funds, without reimbursement therefor. Upon request of any the Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy certificate of such policy insurance and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 3 contracts

Samples: Reconstituted Servicing Agreement (SASCO Mortgage Loan Trust 2005-Wf3), Letter Agreement (Thornburg Mortgage Securities Trust 2005-4), Reconstituted Servicing Agreement (Sasco Mortgage Loan Trust Series 2004-Gel2)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer or the Indenture Trustee, the Company Servicer shall cause to be delivered to such Purchaser person a certified true copy certificate of insurance of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer and the Indenture Trustee.

Appears in 2 contracts

Samples: Securitization Subservicing Agreement (Sasco Mortgage Loan Trust Series 2004-Gel2), Securitization Subservicing Agreement (SASCO Mortgage Loan Trust 2004-Gel3)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Seller shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 4(j) and otherwise complies with all other requirements of Section 4.104(j), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.104(j). Any amounts collected by the Company Seller under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account or Escrow Account subject to withdrawal pursuant to Section 4.054(f). Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.104(j), and there shall have been a loss which would have been covered by such policy, the Company Seller shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Seller’s funds, without reimbursement therefor. Upon request of any Purchaser, the Company Seller shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such Purchaser.

Appears in 2 contracts

Samples: Flow Mortgage Loan Purchase, Warranties and Servicing Agreement (Lehman XS Trust Series 2007-7n), Flow Mortgage Loan Purchase, Warranties and Servicing Agreement (Lehman XS Trust Series 2007-15n)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with Acceptable Servicing Practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 2 contracts

Samples: Letter Agreement (Greenwich Capital Acceptance Inc), Reconstituted Servicing Agreement (Structured Asset Mortgage Investments Inc)

Maintenance of Mortgage Impairment Insurance. In If the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 4.11 hereof and otherwise complies with all other requirements of Section 4.104.11, it shall conclusively be deemed to have satisfied its obligations as set forth in such Section 4.104.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Collection Account subject to withdrawal pursuant to Section 4.054.6 hereof. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.104.11 hereof, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Collection Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Servicer shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserpolicy.

Appears in 2 contracts

Samples: Von Karman (New Century Financial Corp), Mortgage Loan Purchase and Servicing Agreement (New Century Financial Corp)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 4.02(k) and otherwise complies with all other requirements of Section 4.104.02(k), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.104.02(k). Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.054.02(e). Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.104.02(k), and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the CompanyServicer's funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer or the Indenture Trustee, the Company Servicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer and the Indenture Trustee.

Appears in 2 contracts

Samples: Transfer and Servicing Agreement (Aames Mortgage Investment Trust 2005-2), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy (1) names the Company as loss payee, (2) provides coverage in an amount equal to the amount required pursuant to Section 4.10 without coinsurance and (3) otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with prudent servicing practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's ’s funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 2 contracts

Samples: Warranties and Servicing Agreement (Structured Asset Securities Corp. 2005-14), Warranties and Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-10)

AutoNDA by SimpleDocs

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy (1) names the Company as loss payee, (2) provides coverage in an amount equal to the amount required pursuant to Section 4.10 without coinsurance, and (3) otherwise complies with Accepted Servicing Practices and all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with prudent servicing practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's ’s funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 2 contracts

Samples: Assignment, Assumption and Recognition Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-26), Flow Sale and Servicing Agreement (GSR Mortgage Loan Trust 2007-4f)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy issued by an insurer acceptable to Xxxxxx Xxx and/or Xxxxxxx Mac insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.04. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Servicer shall cause to be delivered to such Purchaser person a certified true copy certificate of insurance of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer and the Trustee.

Appears in 2 contracts

Samples: Securitization Servicing Agreement (TBW 2006-1), Securitization Servicing Agreement (TBW 2006-2)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy (1) names the Company as loss payee, (2) provides coverage in an amount equal to the amount required pursuant to Section 4.10 without coinsurance, and (3) otherwise complies with Accepted Servicing Practices and all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with prudent servicing practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company shall cause to be delivered to such the Purchaser a certified true copy certificate of insurance evidencing the existence of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserpolicy.

Appears in 2 contracts

Samples: Flow Sale and Servicing Agreement (Luminent Mortgage Trust 2006-7), Sale and Servicing Agreement (Luminent Mortgage Trust 2006-6)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the CompanyServicer's funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such Purchaser person a certified true copy certificate of insurance of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer, the Trustee and the NIMS Insurer.

Appears in 2 contracts

Samples: Subservicing Agreement (Structured Adjustable Rate Mortgage Loan Trust), Subservicing Agreement (Structured Asset Securities Corp)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.10 and otherwise complies with all other requirements of Section 4.102.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.10. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanyServicer's funds, without reimbursement therefor. Upon request of any Purchaserthe Owner, the Company Servicer shall cause to be delivered to such Purchaser the Owner a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Owner.

Appears in 2 contracts

Samples: Flow Servicing Agreement (GSAA Home Equity Trust 2006-4), Flow Servicing Agreement (GSAA Home Equity 2005-12)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy (1) names the Company as loss payee, (2) provides coverage in an amount equal to the amount required pursuant to Section 4.10 without 33 coinsurance and (3) otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with prudent servicing practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 2 contracts

Samples: Banc of America Funding 2006-2 Trust, Banc of America Funding 2006-3 Trust

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.9 and otherwise complies with all other requirements of Section 4.102.9, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.9. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.5. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.9, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanyServicer's funds, without reimbursement therefor. Upon request of any Purchaserthe Company, the Company Servicer shall cause to be delivered to such Purchaser the Company a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such Purchaserthe Company.

Appears in 2 contracts

Samples: Servicing Agreement (Nb Capital Corp), Servicing Agreement (Nb Capital Corp)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, then to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with Accepted Servicing Practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's ’s funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such Purchaser.

Appears in 2 contracts

Samples: Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-Ar1), Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-Ar2)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy (1) names the Company as loss payee, (2) provides coverage in an amount equal to the amount required pursuant to Section 4.10 without coinsurance, and (3) otherwise complies with Accepted Servicing Practices and all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with prudent servicing practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such the Purchaser.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Banc of America Funding 2006-H Trust), SunTrust Real Estate Trust, LLC

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer or any subservicer of the Mortgage Loans shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.10 and otherwise complies with all other requirements of Section 4.102.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.10. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.5. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanyServicer's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Servicer shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty days' prior written notice to such the Purchaser.

Appears in 2 contracts

Samples: Servicing Agreement (California Federal Preferred Capital Corpation), Servicing Agreement (First Nationwide Preferred Capital Corp)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.10 and otherwise complies with all other requirements of Section 4.102.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.10. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.5. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanyServicer's funds, without reimbursement therefor. Upon request of any Purchaserthe Company, the Company Servicer shall cause to be delivered to such Purchaser the Company a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such Purchaserthe Company.

Appears in 2 contracts

Samples: Servicing Agreement (Harris Preferred Capital Corp), Servicing Agreement (Nb Finance LTD)

Maintenance of Mortgage Impairment Insurance. In the event that the Company [the/a] Servicer shall obtain and maintain a blanket policy issued by an insurer acceptable to Xxxxxx Mae or Xxxxxxx Mac insuring against hazard losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 4.02(j) and otherwise complies with all other requirements of Section 4.104.02(j), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. Any amounts collected by the Company under any 4.02(j), it being understood and agreed that such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which casecase the [related] Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with Section 4.104.02(j), and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with [its/their] activities as servicer of the Mortgage Loans, [the/each] Servicer agrees to prepare and present, on behalf of the Master Servicer and the Trustee, claims under any such amount to deposited from blanket policy in a timely fashion in accordance with the Company's funds, without reimbursement thereforterms of such policy. Upon request of any Purchaserthe Master Servicer or Trustee, the Company [related] Servicer shall cause to be delivered to such Purchaser the Master Servicer or the Trustee, as applicable, a certified true copy of such policy and shall use its best efforts to obtain a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such Purchaserthe Master Servicer and the Trustee.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (TBALT Corp.)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy (1) names the Company as loss payee, (2) provides coverage in an amount equal to the amount required pursuant to Section 4.10 without coinsurance, and (3) otherwise complies with Accepted Servicing Practices and all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with prudent servicing practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such the Purchaser.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Lares Asset Securitization, Inc.)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy (1) names the Company as loss payee, (2) provides coverage in an amount equal to the amount required pursuant to Section 4.10 without coinsurance and (3) otherwise complies with Accepted Servicing Practices and all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with prudent servicing practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company shall cause to be delivered to such the Purchaser a certified true copy of any such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such the Purchaser.

Appears in 1 contract

Samples: Sale and Interim Servicing Agreement (ABFC 2006-He1 Trust)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.10 and otherwise complies with all other requirements of Section 4.103.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.10. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Trust Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Trust Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer or the NIMS Insurer, the Company Servicer shall cause to be delivered to such Purchaser party a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer or the NIMS Insurer.

Appears in 1 contract

Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003 Ff3)

Maintenance of Mortgage Impairment Insurance. In If the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Eligible Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 4.11 56 hereof and otherwise complies with all other requirements of Section 4.104.11, it shall conclusively be deemed to have satisfied its obligations as set forth in such Section 4.104.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage an Eligible Loan shall be deposited in the Custodial Collection Account subject to withdrawal pursuant to Section 4.054.6 hereof. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.104.11 hereof, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Collection Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Servicer shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserpolicy.

Appears in 1 contract

Samples: Mortgage Loan Purchase and Servicing Agreement (PHH Corp)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage coverage. on all of the Mortgage Loans, then, to the extent such policy (1) names the Company as loss payee, (2) provides coverage in an amount equal to the amount required pursuant to Section 4.10 without coinsurance and (3) otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with prudent servicing practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's ’s funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 1 contract

Samples: Agreement (Structured Asset Securities Corp Trust 2005-6)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.10 and otherwise complies with all other requirements of Section 4.103.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.10. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the CompanyServicer's funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such Purchaser party a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer, the Trustee or the NIMS Insurer.

Appears in 1 contract

Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc2)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer, the Company Trustee or the NIMS Insurer, the Servicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer and the Trustee and the NIMS Insurer.

Appears in 1 contract

Samples: Securitization Servicing Agreement (BNC CORP Mortgage Loan Trust 2007-Bnc4)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with prudent servicing practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible 38 WELLS FARGO RESTRICTED clause, in which case, in the event that there xxxxx shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such Purchaser.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2007-Sd2)

Maintenance of Mortgage Impairment Insurance. In If the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Eligible Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 4.11 hereof and otherwise complies with all other requirements of Section 4.104.11, it shall conclusively be deemed to have satisfied its obligations as set forth in such Section 4.104.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage an Eligible Loan shall be deposited in the Custodial Collection Account subject to withdrawal pursuant to Section 4.054.6 hereof. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.104.11 hereof, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Collection Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Administrative Agent, the Company Servicer shall cause to be delivered to such Purchaser the Administrative Agent a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserpolicy.

Appears in 1 contract

Samples: Repurchase and Servicing Agreement (PHH Corp)

Maintenance of Mortgage Impairment Insurance. In the event that the Company [the/a] Servicer shall obtain and maintain a blanket policy issued by an insurer acceptable to Xxxxxx Xxx or Xxxxxxx Mac insuring against hazard losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 4.02(j) and otherwise complies with all other requirements of Section 4.104.02(j), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. Any amounts collected by the Company under any 4.02(j), it being understood and agreed that such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which casecase the [related] Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property or REO Property a policy complying with Section 4.104.02(j), and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause. In connection with [its/their] activities as servicer[s] of the Mortgage Loans, [the/each] Servicer agrees to prepare and present, on behalf of the Master Servicer and the Indenture Trustee, claims under any such amount to deposited from blanket policy in a timely fashion in accordance with the Company's funds, without reimbursement thereforterms of such policy. Upon request of any Purchaserthe Master Servicer or Indenture Trustee, the Company [related] Servicer shall cause to be delivered to such Purchaser the Master Servicer or the Indenture Trustee, as applicable, a certified true copy of such policy and shall use its best efforts to obtain a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such Purchaserthe Master Servicer and the Indenture Trustee.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (TBALT Corp.)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Seller shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.11 and otherwise complies with all other requirements of Section 4.102.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.11. Any amounts collected by the Company Seller under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.11, and there shall have been a loss which would have been covered by such policy, the Company Seller shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanySeller's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Seller shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such the Purchaser.. 12 Section 2.13

Appears in 1 contract

Samples: Flow Interim Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-34a)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account or Escrow Account subject to withdrawal pursuant to Section 4.05Sections 4.05 or 4.14. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 1 contract

Samples: Structured Asset Securities Corp/Ny

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 4.09(f) and otherwise complies with all other requirements of Section 4.104.09(f), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.104.09(f). Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Collection Account subject to withdrawal pursuant to Section 4.054.08. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.104.09(f), and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Collection Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the CompanyServicer's funds, without reimbursement therefor. Upon request of any Purchaserthe Indenture Trustee, the Company Servicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 [30] days' prior written notice to such Purchaserthe Indenture Trustee.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Indymac MBS Inc)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 5.10 and otherwise complies with all other requirements of Section 4.105.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.105.10. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account or Escrow Account subject to withdrawal pursuant to Section 4.055.06. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.105.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's ’s funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 1 contract

Samples: Reconstituted Servicing Agreement (Lehman Mortgage Trust 2007-5)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Special Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Transferred Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Special Servicer under any such policy relating to a Transferred Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Special Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Special Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer or the Trustee, the Company Special Servicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer and the Trustee.

Appears in 1 contract

Samples: Servicing Agreement (Structured Asset Securities Corp Trust 2005-6)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire fire, flood and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with Accepted Servicing Practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy certificate of such policy insurance and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 1 contract

Samples: Warranties and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar5)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy (1) names the Company as loss payee, (2) provides coverage in an amount equal to the amount required pursuant to Section 4.10 without coinsurance, and (3) otherwise complies with Accepted Servicing Practices and all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with prudent servicing practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company shall cause to be delivered to such the Purchaser a certified true copy certificate of insurance for such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such the Purchaser.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Banc of America Funding 2006-D Trust)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with Acceptable Servicing Practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's ’s funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 1 contract

Samples: Letter Agreement (Thornburg Mortgage Securities Trust 2005-4)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the CompanyServicer's funds, without reimbursement therefor. Upon request of any Purchaserthe Owner, the Company Servicer shall cause to be delivered to such Purchaser the Owner a certified true copy certificate of insurance for such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Owner.

Appears in 1 contract

Samples: Subservicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.10 and otherwise complies with all other requirements of Section 4.102.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.10. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.10, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Owner, the Company Servicer shall cause to be delivered to such Purchaser the Owner a certified true copy of such policy and a statement from the insurer thereunder that insurer, thereunder.that such policy .policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such Purchaserthe Owner.

Appears in 1 contract

Samples: Assumption and Recognition Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-26)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Interim Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.10 and otherwise complies with all other requirements of Section 4.102.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.10. Any amounts collected by the Company Interim Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.04. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.10, and there shall have been a loss which would have been covered by such policy, the Company Interim Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanyInterim Servicer's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Interim Servicer shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such the Purchaser.

Appears in 1 contract

Samples: Interim Servicing Agreement (Structured Asset Sec Corp Mor Pass Thru Cer Ser 2002-10h)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 4.09(f) and otherwise complies with all other requirements of Section 4.104.09(f), it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.104.09(f). Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Collection Account subject to withdrawal pursuant to Section 4.054.08. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.104.09(f), and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Collection Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Indenture Trustee, the Company Servicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 [30] days' prior written notice to such Purchaserthe Indenture Trustee.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Indymac Abs Inc)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Seller shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.11 and otherwise complies with all other requirements of Section 4.102.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.11. Any amounts collected by the Company Seller under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.11, and there shall have been a loss which would have been covered by such policy, the Company Seller shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanySeller's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Seller shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 thirty (30) days' prior written notice to such the Purchaser.

Appears in 1 contract

Samples: Servicing Agreement (Franklin Finance Corp)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 and otherwise complies with all other requirements of Section 37 4.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.10. The Company shall prepare and make any claims on the blanket policy as deemed necessary by the Company in accordance with prudent servicing practices. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the Company's ’s funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 1 contract

Samples: Securitization Subservicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc11)

Maintenance of Mortgage Impairment Insurance. In the event that the Company shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 5.10 and otherwise complies with all other requirements of Section 4.105.10, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.105.10. Any amounts collected by the Company under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account or Escrow Account subject to withdrawal pursuant to Section 4.055.06. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.105.10, and there shall have been a loss which would have been covered by such policy, the Company shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's funds, without reimbursement therefor. Upon request of any Purchaser, the Company shall cause to be delivered to such Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaser.

Appears in 1 contract

Samples: Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-23)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Servicer shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 3.11 and otherwise complies with all other requirements of Section 4.103.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.103.11. Any amounts collected by the Company Servicer under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.053.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.103.11, and there shall have been a loss which would have been covered by such policy, the Company Servicer shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to deposited from the Company's Servicer’s funds, without reimbursement therefor. Upon request of any Purchaserthe Master Servicer or the Trustee, the Company Servicer shall cause to be delivered to such Purchaser person a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such Purchaserthe Master Servicer and the Trustee.

Appears in 1 contract

Samples: Securitization Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-10)

Maintenance of Mortgage Impairment Insurance. In the event that the Company Seller shall obtain and maintain a blanket policy insuring against losses arising from fire and hazards covered under extended coverage on all of the Mortgage Loans, then, to the extent such policy provides coverage in an amount equal to the amount required pursuant to Section 4.10 2.11 and otherwise complies with all other requirements of Section 4.102.11, it shall conclusively be deemed to have satisfied its obligations as set forth in Section 4.102.11. Any amounts collected by the Company Seller under any such policy relating to a Mortgage Loan shall be deposited in the Custodial Account subject to withdrawal pursuant to Section 4.052.05. Such policy may contain a deductible clause, in which case, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with Section 4.102.11, and there shall have been a loss which would have been covered by such policy, the Company Seller shall deposit in the Custodial Account at the time of such loss the amount not otherwise payable under the blanket policy because of such deductible clause, such amount to be deposited from the CompanySeller's funds, without reimbursement therefor. Upon request of any the Purchaser, the Company Seller shall cause to be delivered to such the Purchaser a certified true copy of such policy and a statement from the insurer thereunder that such policy shall in no event be terminated or materially modified without 30 days' prior written notice to such the Purchaser....................................................12

Appears in 1 contract

Samples: Flow Interim Servicing Agreement (Mortgage Pass-Through Certificates Series 2003-37a)

Time is Money Join Law Insider Premium to draft better contracts faster.