Monitoring of Servicers. (a) The Master Servicer shall be responsible for reporting to the Trustee, the Trust Administrator and the Depositor the compliance by each Servicer with its duties under the related Servicing Agreement. In the review of each Servicer’s activities, the Master Servicer may rely upon an officer’s certificate of the Servicer with regard to such Servicer’s compliance with the terms of its Servicing Agreement. In the event that the Master Servicer, in its judgment, determines that a Servicer should be terminated in accordance with its Servicing Agreement, or that a notice should be sent pursuant to such Servicing Agreement with respect to the occurrence of an event that, unless cured, would constitute grounds for such termination, the Master Servicer shall notify the Depositor, the Trust Administrator and the Trustee thereof and the Master Servicer shall issue such notice or take such other action as it deems appropriate.
Monitoring of Servicers. (a) The Master Servicer shall be responsible for reporting to the Trustee and the Depositor the compliance by each Servicer with its duties under the related Servicing Agreement. In the review of each Servicer's activities, the Master Servicer may rely upon an officer's certificate of the Servicer (or similar document signed by an officer of the Servicer) with regard to such Servicer's compliance with the terms of its Servicing Agreement. In the event that the Master Servicer, in its judgment, determines that a Servicer should be terminated in accordance with its Servicing Agreement, or that a notice should be sent pursuant to such Servicing Agreement with respect to the occurrence of an event that, unless cured, would constitute grounds for such termination, the Master Servicer shall notify the Depositor and the Trustee thereof and the Master Servicer shall issue such notice or take such other action as it deems appropriate.
Monitoring of Servicers. 65 Section 3.04 Fidelity Bond........................................... 66 Section 3.05 Power to Act; Procedures................................ 66 Section 3.06 Due-on-Sale Clauses; Assumption Agreements.............. 67 Section 3.07 Release of Mortgage Files............................... 67
Monitoring of Servicers. Section 3.03 [Reserved].................................................. Section 3.04 Rights of the Depositor and the Trustee in Respect of the Master Servicer......................................... Section 3.05 Trustee to Act as Master Servicer........................... Section 3.06
Monitoring of Servicers. 71 Section 3.04 Fidelity Bond........................................... 72 Section 3.05 Power to Act; Procedures................................ 72 Section 3.06 Due-on-Sale Clauses; Assumption Agreements.............. 73 Section 3.07 [Reserved].............................................. 73 Section 3.08 Documents, Records and Funds in Possession of Master Servicer To Be Held for Trustee......................... 74 Section 3.09 Standard Hazard Insurance and Flood Insurance Policies.. 74 Section 3.10 Presentment of Claims and Collection of Proceeds........ 75 Section 3.11 Maintenance of the Primary Mortgage Insurance Policies.. 75 Section 3.12 Trustee to Retain Possession of Certain Insurance Policies and Documents.................................. 75 Section 3.13 Realization Upon Defaulted Mortgage Loans............... 76 Section 3.14 Compensation for the Master Servicer.................... 76 Section 3.15
Monitoring of Servicers. (a) The Master Servicer shall be responsible for monitoring the compliance by each Servicer with its duties under the related Servicing Agreement. In the review of each Servicer’s activities, the Master Servicer may rely upon an officer’s certificate of any Servicer with regard to such Servicer’s compliance with the terms of its Servicing Agreement. In the event that the Master Servicer, in its judgment, determines that a Servicer should be terminated in accordance with its Servicing Agreement, or that a notice should be sent pursuant to such Servicing Agreement with respect to the occurrence of an event that, unless cured, would constitute grounds for such termination, the Master Servicer shall notify the Seller and the Trustee thereof and the Master Servicer shall issue such notice or take such other action as it deems appropriate; provided, however that if the defaulting Servicer is Xxxxx Fargo, the Trustee shall issue such notice or take such other action as it deems appropriate.
Monitoring of Servicers. (a) The Master Servicer shall be responsible for monitoring the compliance by each Servicer with its duties under the related Servicing Agreement. In the review of each Servicer's activities, the Master Servicer may rely upon an officer's certificate of any Servicer with regard to such Servicer's compliance with the terms of its Servicing Agreement. In the event that the Master Servicer, in its judgment, determines that a Servicer should be terminated in accordance with its Servicing Agreement, or that a notice should be sent pursuant to such Servicing Agreement with respect to the occurrence of an event that, unless cured, would constitute grounds for such termination, the Master Servicer shall notify the Seller and the Trustee thereof and the Master Servicer shall issue such notice or take such other action as it deems appropriate.
Monitoring of Servicers. 48 Section 3.04 FIDELITY BOND.........................................................................49 Section 3.05
Monitoring of Servicers. Section 3.04 Fidelity Bond
Monitoring of Servicers. (a) The Master Servicer shall be responsible for reporting to the Trustee (on behalf of the Trust Fund) and the Depositor the compliance by each Servicer with its duties under the related Servicing Agreement. In the review of each Servicer’s activities, the Master Servicer may rely upon an officer’s certificate of the Servicer with regard to such Servicer’s compliance with the terms of its Servicing Agreement. In the event that the Master Servicer, in its judgment, determines that a Servicer should be terminated in accordance with its Servicing Agreement, or that a notice should be sent pursuant to such Servicing Agreement with respect to the occurrence of an event that, unless cured, would constitute grounds for such termination, the Master Servicer shall notify the Depositor and the Trustee thereof, and with respect to the SRO Servicer, the Master Servicer shall also notify the Servicing Rights Owner, and the Master Servicer shall issue such notice or take such other action as it deems appropriate with Section 3.03(b) or, with respect to the SRO Servicer, Section 3.03(f) below.
