Examples of Bulk PMI Policy in a sentence
The Servicer shall not take, or permit any subservicer to modify or otherwise permit an assumption of a Mortgage Loan covered by a Bulk PMI Policy or take any other action with respect to such Mortgage Loan which would result in non-coverage under the applicable Bulk PMI Policy of any loss which, but for the actions of the Servicer or subservicer, would have been covered thereunder.
The Servicer shall not take, or permit any subservicer to modify or otherwise permit an assumption of a Mortgage Loan covered by a Bulk PMI Policy or take any other action with respect to such Mortgage Loan which would result in non-coverage under the applicable PMI Policy of any loss which, but for the actions of the Servicer or subservicer, would have been covered thereunder.
The Trustee shall not take, or knowingly permit any Servicer (consistent with the applicable Servicing Agreement) to take, any action that would result in noncoverage under the Bulk PMI Policy of any loss which, but for the actions of such Trustee or such Servicer, would have been covered thereunder.
Pursuant to Section 3.10(a)(3), any amounts collected by the applicable Servicer under the Bulk PMI Policy shall be deposited in the related Collection Account, subject to withdrawal pursuant to Section 3.11.
Radian Bulk PMI Policy: Radian Master Policy, No. 22091 as modified by the related Terms Letter Agreement (ID #04-998012) dated February 26, 2004 between Radian and Xxxxxx Brothers Inc.