Duties of the Master Servicer. (a) The Master Servicer shall master service the Mortgage Loans in accordance with the Accepted Master Servicing Practices and the provisions of this Agreement. The Master Servicer shall monitor the performance of the obligations of each Servicer under its Servicing Agreement (provided, however, that the Master Servicer shall have no duty to monitor compliance by a Servicer of its obligation to remit Non-Mortgagor Prepayment Premium Payment Amounts or Prepayment Premiums owed to the Issuing Entity).
Appears in 3 contracts
Samples: Pooling Agreement (Luminent Mortgage Trust 2007-1), Pooling Agreement (Luminent Mortgage Trust 2006-7), Pooling Agreement (Luminent Mortgage Trust 2006-6)
Duties of the Master Servicer. (a) The Master Servicer shall master service the Mortgage Loans in accordance with the Accepted Master Servicing Practices and the provisions of this Agreement. The Master Servicer shall monitor the performance of the obligations of each the Servicer under its Servicing Agreement (provided, however, that the Master Servicer shall have no duty to monitor compliance by a Servicer of its obligation to remit Non-Mortgagor Prepayment Premium Payment Amounts or Prepayment Premiums owed to the Issuing Entity)hereunder.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (First NLC Securitization, Inc.), Pooling and Servicing Agreement (Lares Asset Securitization, Inc.), Transfer and Servicing Agreement (Lares Asset Securitization, Inc.)
