Obligations of the Master Servicer in Respect of Monthly Payments. In the event that a shortfall in any collection on or liability with respect to any Mortgage Loan results from or is attributable to adjustments to Stated Principal Balances that were made by the Master Servicer in a manner not consistent with the terms of the related Mortgage Note and this Agreement, the Master Servicer, upon discovery or receipt of notice thereof, immediately shall deliver to the Trustee for deposit in the Distribution Account from its own funds the amount of any such shortfall and shall indemnify and hold harmless the Trust Fund, the Trustee, the Depositor and any successor master servicer in respect of any such liability. Such indemnities shall survive the termination or discharge of this Agreement.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc Series 2004-Ncm2), Pooling and Servicing Agreement (Union Planters Mortgage Loan Trust Series 2001-Up1), Pooling and Servicing Agreement (Citigroup Mortgag Loan Trust Series 2003-Up3)
Obligations of the Master Servicer in Respect of Monthly Payments. In the event that a shortfall in any collection on or liability with respect to any Mortgage Loan results from or is attributable to adjustments to Stated Principal Balances that were made by the Master Servicer in a manner not consistent with the terms of the related Mortgage Note and this Agreement, the Master Servicer, upon discovery or receipt of notice thereof, immediately shall deliver to the Trustee Trust Administrator for deposit in the Distribution Account from its own funds the amount of any such shortfall and shall indemnify and hold harmless the Trust Fund, the Trustee, the Trust Administrator, the Depositor and any successor master servicer in respect of any such liability. Such indemnities shall survive the termination or discharge of this Agreement.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Inc Sov Bk MRT Ln Tr Se 2002-1), Pooling and Servicing Agreement (Salomon Mortgage Loan Trust Ser 2002-Ust1 Mort Pass-THR Cert), Distribution Instructions (Citigroup Mortgage Loan Trust Inc Series 2004-Ust1)
Obligations of the Master Servicer in Respect of Monthly Payments. In the event that a shortfall in any collection on or liability with respect to any Mortgage Loan results from or is attributable to adjustments to Stated Principal Balances that were made by the Master Servicer in a manner not consistent with the terms of the related Mortgage Note and this Agreement, the Master Servicer, upon discovery or receipt of notice thereof, immediately shall deliver to the Trustee for deposit in the Distribution Account from its own funds the amount of any such shortfall and shall indemnify and hold harmless the Trust Fund, the Trustee, the Trust Administrator, the Depositor and any successor master servicer in respect of any such liability. Such indemnities shall survive the termination or discharge of this Agreement.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Salo Mort Ln Tr Ser 2001-Cpb1), Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Inc Mort Pas Th Ce Ser 2000-1)
Obligations of the Master Servicer in Respect of Monthly Payments. In the event that a shortfall in any collection on or liability with respect to any Mortgage Loan results from or is attributable to adjustments to Stated Principal Balances that were made by the Master Servicer in a manner not consistent with the terms of the related Mortgage Note and this Agreement, the Master Servicer, upon discovery or receipt of notice thereof, immediately shall deliver to the Trustee Paying Agent for deposit in the Distribution Account from its own funds the amount of any such shortfall and shall indemnify and hold harmless the Trust Fund, the Trustee, the Trust Administrator, the Depositor and any successor master servicer in respect of any such liability. Such indemnities shall survive the termination or discharge of this Agreement.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc. Series 2004 - HYB4), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc. Series 2004 - HYB4)
