Common use of Maintenance of Primary Mortgage Insurance Policies Clause in Contracts

Maintenance of Primary Mortgage Insurance Policies. (a) The EMC Servicer shall not take any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the EMC Servicer, would have been covered thereunder. The EMC Servicer shall use its best efforts to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), each Primary Mortgage Insurance Policy applicable to any Mortgage Loan. The EMC Servicer shall not cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of a Mortgage Note and is required to be kept in force hereunder. Notwithstanding the foregoing, the EMC Servicer shall not be required to keep in force any Primary Mortgage Insurance Policy beyond the period required by the Xxxxxx Xxx Servicing Guide for residential mortgage loans.

Maintenance of Primary Mortgage Insurance Policies. (a) The EMC Servicer shall not take any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the EMC Servicer, would have been covered thereunder. The EMC Servicer shall use its best efforts to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), each Primary Mortgage Insurance Policy applicable to any Mortgage Loan. The EMC Servicer shall not cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of a Mortgage Note and is required to be kept in force hereunder. Notwithstanding the foregoing, the EMC Servicer shall not be required to keep in force any Primary Mortgage Insurance Policy beyond the period required by the Xxxxxx Xxx Fannie Mae Servicing Guide for residential mortgage loans.

Maintenance of Primary Mortgage Insurance Policies. (a) The EMC Master Servicer shall not take any action that would result in noncoverage under any applicable Primary Mortgage Insurance Policy of any loss which, but for the actions of the EMC Master Servicer, would have been covered thereunder. The EMC Master Servicer shall use its best efforts to keep in force and effect (to the extent that the Mortgage Loan requires the Mortgagor to maintain such insurance), each Primary Mortgage Insurance Policy applicable to any Mortgage Loan. The EMC Master Servicer shall not cancel or refuse to renew any such Primary Mortgage Insurance Policy that is in effect at the date of the initial issuance of a Mortgage Note and is required to be kept in force hereunder. Notwithstanding the foregoing, the EMC Master Servicer shall not be required to keep in force any Primary Mortgage Insurance Policy beyond the period required by the Xxxxxx Xxx Servicing Guide for residential mortgage loans.