Common use of Collection of Taxes, Assessments and Similar Items; Escrow Accounts Clause in Contracts

Collection of Taxes, Assessments and Similar Items; Escrow Accounts. (a) Each Servicer shall ensure that each First Lien Mortgage Loan shall be covered by a paid-in-full, life-of-the-loan tax service contract (each, a "Tax Service Contract"); provided, that the applicable Original Loan Seller transferred a fully transferable Tax Service Contract to such Servicer at no expense to that Servicer. Each Tax Service Contract shall be assigned to the Master Servicer (or successor servicer), as applicable, at the applicable Servicer's expense in the event that a Servicer is terminated as Servicer of the related Mortgage Loan.

Collection of Taxes, Assessments and Similar Items; Escrow Accounts. (a) Each The Servicer shall ensure that each First Lien of the Mortgage Loan Loans shall be covered by a paid-in-full, life-of-the-loan tax service contract in effect with respect to each Mortgage Loan (each, a "Tax Service Contract"); provided, that the applicable Original Loan Seller Responsible Party transferred a fully transferable Tax Service Contract to such Servicer at no expense to that the Servicer. Each Tax Service Contract shall be assigned to the Master Servicer (Trustee, or successor servicer), as applicableits designee, at the applicable Servicer's expense in the event that a the Servicer is terminated as Servicer of the related Mortgage Loan.

Collection of Taxes, Assessments and Similar Items; Escrow Accounts. (a) Each The Servicer shall ensure that each First Lien of the Mortgage Loan Loans shall be covered by a paid-in-full, life-of-the-loan tax service contract in effect with respect to each Mortgage Loan (each, a "Tax Service Contract"); provided, that the applicable Original Loan Seller WMC transferred a fully transferable Tax Service Contract to such the Servicer at no expense to that the Servicer. Each Tax Service Contract shall be assigned to the Master Servicer (Trustee, or successor servicer), as applicableits designee, at the applicable Servicer's expense in the event that a the Servicer is terminated as Servicer of the related Mortgage Loan.

Collection of Taxes, Assessments and Similar Items; Escrow Accounts. (a) Each The Servicer shall ensure that each First Lien of the Mortgage Loan Loans shall be covered by a paid-in-full, life-of-the-loan tax service contract in effect with respect to each Mortgage Loan (each, a "Tax Service Contract"); provided, that the applicable Original Loan Seller Responsible Party transferred a fully transferable Tax Service Contract to such Servicer at no expense to that the Servicer. Each Tax Service Contract shall be assigned to the Master Servicer (Trustee, or a successor servicer), as applicableServicer, at the applicable Servicer's expense in the event that a the Servicer is terminated as Servicer of the related Mortgage Loan.

Collection of Taxes, Assessments and Similar Items; Escrow Accounts. (a) Each The Servicer shall ensure that each First Lien Mortgage Loan shall be covered by a paid-in-full, life-of-the-loan tax service contract (each, a "Tax Service Contract"); provided, that the applicable Original Loan Seller transferred a fully transferable Tax Service Contract to such the Servicer at no expense to that the Servicer. Each Tax Service Contract shall be assigned to the Master Servicer (or successor servicer), as applicable, at the applicable Servicer's expense in the event that a the Servicer is terminated as Servicer of the related Mortgage Loan.

Collection of Taxes, Assessments and Similar Items; Escrow Accounts. (a) Each The Servicer shall ensure that each First Lien Mortgage Loan shall be covered by a paid-in-full, life-of-the-loan tax service contract (each, a "Tax Service Contract"); provided, that the applicable Original Loan Seller transferred a fully transferable Tax Service Contract to such the Servicer at no expense to that the Servicer. Each Tax Service Contract shall be assigned to the Master Servicer (Trustee, or successor servicer), as applicableits designee, at the applicable Servicer's expense in the event that a the Servicer is terminated as Servicer of the related Mortgage Loan.

Collection of Taxes, Assessments and Similar Items; Escrow Accounts. (a) Each Servicer shall ensure that each First Lien Mortgage Loan shall be covered by a paid-in-full, life-of-the-loan tax service contract (each, a "“Tax Service Contract"”); provided, that the applicable Original Loan Seller [Responsible Party] transferred a fully transferable Tax Service Contract to such Servicer at no expense to that such Servicer. Each Tax Service Contract shall be assigned to the Master Servicer (or successor servicer), as applicable, at the applicable Servicer's ’s expense in the event that a such Servicer is terminated as Servicer of the related Mortgage Loan.

Collection of Taxes, Assessments and Similar Items; Escrow Accounts. (a) Each The Servicer shall ensure that each First Lien of the Mortgage Loan Loans shall be covered by a paid-in-full, life-of-the-loan tax service contract in effect with respect to each First Lien Mortgage Loan (each, a "Tax Service Contract"); provided, that the applicable Original Loan Seller transferred a fully transferable Tax Service Contract to such the Servicer at no expense to that the Servicer. Each Tax Service Contract shall be assigned to the Master Servicer (Trustee, or successor servicer), as applicableits designee, at the applicable Servicer's expense in the event that a the Servicer is terminated as Servicer of the related Mortgage Loan.

Collection of Taxes, Assessments and Similar Items; Escrow Accounts. (a) Each The Servicer shall ensure that each First Lien of the Mortgage Loan Loans shall be covered by a paid-in-full, life-of-the-loan tax service contract in effect with respect to each Mortgage Loan (each, a "Tax Service Contract"); provided, that the applicable Original Loan Seller Responsible Party transferred a fully transferable Tax Service Contract to such the Servicer at no expense to that the Servicer. Each Tax Service Contract shall be assigned to the Master Servicer (Trustee, or successor servicer), as applicableits designee, at the applicable Servicer's expense in the event that a the Servicer is terminated as Servicer of the related Mortgage Loan.

Collection of Taxes, Assessments and Similar Items; Escrow Accounts. (a) Each The Servicer shall ensure that each First Lien of the Mortgage Loan Loans shall be covered by a paid-in-paid in full, life-of-the-loan tax service contract in effect with respect to each Mortgage Loan (each, a "Tax Service Contract"); provided, that the applicable Original Loan Seller Responsible Party transferred a fully transferable Tax Service Contract to such Servicer at no expense to that the Servicer. Each Tax Service Contract shall be assigned to the Master Servicer (Trustee, or successor servicer), as applicableits designee, at the applicable Servicer's expense in the event that a the Servicer is terminated as Servicer of the related Mortgage Loan.

Collection of Taxes, Assessments and Similar Items; Escrow Accounts. (a) Each Servicer shall ensure that each First Lien Mortgage Loan shall be covered by a paid-in-full, life-of-the-loan tax service contract (each, a "Tax Service Contract"); provided, that the applicable Original Loan Seller transferred a fully transferable Tax Service Contract to such Servicer at no expense to that Servicer. Each Tax Service Contract shall be assigned to the Master Servicer (or successor servicer), as applicable, at the applicable Servicer's expense in the event that a Servicer is terminated as Servicer of the related Mortgage Loan.

Collection of Taxes, Assessments and Similar Items; Escrow Accounts. (a) Each Servicer shall ensure that each First Lien Mortgage Loan shall be covered by a paid-in-full, life-of-the-loan tax service contract (each, a "Tax Service Contract"); provided, that the applicable Original Loan Seller Responsible Party transferred a fully transferable Tax Service Contract to such Servicer at no expense to that Servicer. Each Tax Service Contract shall be assigned to the Master Servicer (or successor servicer), as applicable, at the applicable Servicer's expense in the event that a Servicer is terminated as Servicer of the related Mortgage Loan.