Master Servicer Responsibilities Sample Clauses

Master Servicer Responsibilities. The Master Servicer will supervise, monitor and oversee the obligation of the Direct Servicers to service and administer the applicable Mortgage Loans in accordance with Accepted Servicing Practices and will have full power and authority to do any and all things which it may deem necessary or appropriate in its sole discretion in connection with such master servicing and administration in a manner consistent with Accepted Servicing Practices. If the Master Servicer is otherwise eligible to do so, and in the case of Xxxxxx Xxx as Master Servicer no Guarantor Event of Default of the type described in clause (a) of Section 12.1 has occurred and is continuing, then it may act as an interim servicer (when replacing a Direct Servicer) or as a Direct Servicer, and in such capacity will be responsible for performing all of the obligations listed under Subsection 5.1(3) and Sections 5.2 through 5.10 as it deems necessary and appropriate in servicing the Mortgage Loans in each Pool for and on behalf of Holders. Any or all of the obligations of the Direct Servicer may be performed by the Master Servicer if the Direct Servicer is not required by the related Servicing Contract or under paragraph (a) of Subsection 5.1(4) to perform them.
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Master Servicer Responsibilities. The Master Servicer will have the full power and authority on behalf of and for the benefit of, and is responsible to, each Trust, to do the following:
Sample 1Sample 2Sample 3See All (6)

Related to Master Servicer Responsibilities

  • Provider Responsibilities The Private Child-Caring Facility (PCC) (a.k.a., Provider) must comply with the following requirements:

  • Engineer Responsibilities No subcontract relieves the Engineer of any responsibilities under this contract.

  • Owner Responsibilities Owner shall:

  • Member Responsibilities The Member’s responsibilities shall include, but are not limited to:

  • Custodial Responsibilities (a) Each Custodian shall provide access to the Mortgage Loan Documents in possession of such Custodian regarding the related Mortgage Loans and REO Property and the servicing thereof to the Trustee, the Certificateholders, the FDIC, and the supervisory agents and examiners of the FDIC, such access being afforded only upon two (2) Business Days' prior written request and during normal business hours at the office of the applicable Custodian. Each Custodian shall allow representatives of the above entities to photocopy any of the records and documentation and shall provide equipment for that purpose at the expense of the person requesting such access. Upon receipt of a written request made by a Servicer in the form of the Request for Release, the applicable Custodian shall release within five Business Days the related Mortgage File in accordance with Section 3.16.

  • User Responsibilities Personnel and where appropriate other internal users, will need to be made aware of their responsibilities towards maintaining effective access controls e.g. choosing strong passwords and keeping them confidential.

  • SELLER’S ENGAGEMENT OF SERVICER TO PERFORM SERVICING RESPONSIBILITIES Section 2.01. Contract for Servicing; Possession of Custodial Files, Maintenance of Retained Mortgage Files and Servicing Files. The Seller, by execution and delivery of this Agreement, does hereby contract with the Servicer as an independent contractor, subject to the terms of this Agreement, for the continued servicing of the Mortgage Loans. On or before the Closing Date, the Servicer shall have in its possession the Servicing Files with respect to the Mortgage Loans listed on the Mortgage Loan Schedule. The Servicer shall maintain a Servicing File with respect to each Mortgage Loan in order to service such Mortgage Loans pursuant to this Agreement and each Servicing File in its possession shall be held in trust by the Servicer for the benefit of the Trustee; provided, however, that the Servicer shall have no liability for any Servicing Files (or portions thereof) not delivered by the Seller. The Servicer’s possession of any portion of the Mortgage Loan documents shall be at the will of the Trustee for the sole purpose of facilitating servicing of the related Mortgage Loan pursuant to this Agreement, and such retention and possession by the Servicer shall be in a custodial capacity only. The ownership of each Mortgage Note, Mortgage and the contents of the Servicing File shall be vested in the Trustee and the ownership of all records and documents with respect to the related Mortgage Loan prepared by or which come into the possession of the Servicer shall immediately vest in the Trustee and shall be retained and maintained, in trust, by the Servicer at the will of the Trustee in such custodial capacity only. The portion of each Servicing File retained by the Servicer pursuant to this Agreement shall be appropriately marked to clearly reflect the ownership of the related Mortgage Loan by the Trustee. The Servicer shall release from its custody the contents of any Servicing File retained by it only in accordance with this Agreement. Pursuant to the Mortgage Loan Purchase Agreement, the Seller will have delivered the Custodial Files to the Custodian. In addition, each Retained Mortgage File not delivered to the Custodian pursuant to the Mortgage Loan Purchase Agreement are and shall be held in trust by the Servicer for the benefit of the Trustee as the owner thereof. The possession of each Retained Mortgage File held by the Servicer is in a custodial capacity only. The ownership of each Retained Mortgage File shall be vested in the Trustee. The Servicer shall release its custody of the contents of any Retained Mortgage File only in accordance with written instructions from the Trustee, unless such release is required pursuant to Section 5.02 or if a Document Transfer Event occurs. Upon the occurrence of a Document Transfer Event, the party first discovering such event shall promptly notify the Master Servicer, the Servicer, the Trustee and the Custodian, as applicable, and, with respect to each Mortgage Loan, deliver to the Custodian, within 60 days, the Retained Mortgage Files pursuant to the terms of the Custodial Agreement.

  • Employer Responsibilities Recognizing the inherent risk(s) in a correctional setting, the Employer is obligated to provide a safe workplace and to educate employees on proper safety procedures and use of protective and safety equipment. The Employer is committed to responding to legitimate safety concerns raised by the Union and employees. The Employer will comply with federal and state safety standards, including requirements relating to first aid training, first aid equipment and the use of protective devices and equipment.

  • Customer Responsibilities Customer shall:

  • Responsibilities of Contractor A. The Contractor shall perform all work on the described project as required by the Contract documents. The work to be performed includes the labor and services necessary to produce such replacement, and all materials, supplies, tools, transportation, equipment, and machinery required for replacement.

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