Fidelity Bond/Insurance. The Servicer represents, warrants and covenants that it has obtained and shall continue to maintain in full force and effect a fidelity bond or comparable insurance in such form and amount as is customary for prudent servicers acting as custodian of funds and documents in respect of consumer contracts similar to the Receivables on behalf of institutional investors. All insurance maintained by the initial Servicer pursuant to this section shall name the Borrower as an additional insured.
Fidelity Bond/Insurance. The Master Servicer shall maintain insurance coverage and financial institution bond protection consistent with that maintained by the Master Servicer as of the date of this Master Agreement. Such insurance coverage shall include coverage in the amount of $4,000,000 insuring the Master Servicer against losses on account of employee dishonesty, loss inside the premises coverage, loss outside the premises coverage, money orders and counterfeit paper currency coverage and depositors forgery coverage. Such financial institution bond protection shall include $6,000,000 single loss limit of liability coverage on account of forgery or alteration, securities, computer systems fraud, telefacsimile transfer fraud and voice initiated transfer fraud.
Fidelity Bond/Insurance. Each of the Servicer and each Subservicer each hereby represents, warrants and covenants that is has obtained and shall continue to maintain in full force and effect a fidelity bond or comparable insurance in such form and amount as is customary for prudent servicers acting as custodian of funds and documents in respect of consumer contracts similar to the Receivables on behalf of institutional investors. All insurance required to be maintained pursuant to this section shall name the Borrower and the Borrower Loan Trustee as an additional insured.
Fidelity Bond/Insurance. The Contractor shall ensure that every officer, director, or employee who is authorized to act on behalf of the Contractor for the purpose of receiving or depositing funds into program accounts or issuing financial documents, checks, or other instruments of payment for program costs shall be bonded or be covered by fidelity insurance to provide protection against loss in an amount not less than $50,000. The insurance or bond must be secured for the term of the contract and name Great Rivers as beneficiary. The bond or certificate shall show the bonding or insurance coverage, the designated beneficiaries, covered parties, and the amounts. If the Contractor chooses to purchase fidelity insurance, the coverage must include employee theft per loss, employee theft per employee, and theft (disappearance and destruction).
Fidelity Bond/Insurance. (a) To the extent commercially available, the Administrative Agent shall maintain a fidelity bond in (i) such form as is customary for financial institutions acting as custodians of funds and documents in respect of mortgage loans or consumer receivables on behalf of institutional investors and (ii) an amount not less than $5 million. The cost of such fidelity bond shall be borne by the Administrative Agent.
Fidelity Bond/Insurance. The Servicer shall maintain with a responsible company, and at its own expense, a blanket fidelity bond and an errors and omissions insurance policy (which, for avoidance of doubt, may be used by the Servicer to satisfy requirements under different agreements, including, but not limited to, the CP Transaction), in a minimum aggregate amount equal to $1,500,000, and a maximum deductible of $250,000 (with respect to the fidelity bond) and $100,000 (with respect to the errors and omissions insurance policy), if commercially available, with coverage on all employees acting in any capacity requiring such persons to handle funds, money, documents or papers relating to the Loans ("Servicer Employees"). The fidelity bond shall provide coverage to the ------------------ Indenture Trustee and the Owner Trustee, their respective officers and employees, against losses resulting from forgery, theft, embezzlement or fraud by such Servicer Employees. The errors and omissions policy shall insure against losses resulting from the errors, omissions and negligent acts of such Servicer Employees. No provision of this Section 5.04 requiring such fidelity bond and errors and omissions insurance ------------ shall relieve the Servicer from its duties as set forth in this Agreement. Upon the request of the Indenture Trustee, the Owner Trustee, any Noteholder or any Certificateholder, the Servicer shall cause to be delivered to the Indenture Trustee, the Owner Trustee, such Noteholder or such Certificateholder a certified true copy of such fidelity bond and insurance policy. Notwithstanding the foregoing, the Servicer shall not be required to obtain an errors and omissions insurance policy satisfying the standard described above until the first advance is made on the Series of Notes.
Fidelity Bond/Insurance. Broker-Dealer shall secure and maintain a fidelity bond (including coverage for larceny and embezzlement), issued by a reputable bonding company, covering all of its directors, officers, agents and employees who have access to funds of Company or F&G Securities. This bond shall be maintained at Broker-Dealer’s expense in at least the amount prescribed under FINRA Rule 4360. Broker-Dealer shall provide Company with a copy of said bond before executing this Agreement. Broker-Dealer shall also secure and maintain errors and omissions insurance with Fidelity & Guaranty Life Insurance Company Des Moines, IA minimum coverage of $1 million per occurrence from an “A” or better A.M. Best-rated company. Broker-Dealer hereby assigns any proceeds received from a fidelity bonding company, errors and omissions or other liability coverage, to Company or F&G Securities as their interest may appear, to the extent of their loss due to activities covered by the bond, policy or other liability coverage. If there is any deficiency amount, whether due to a deductible or otherwise, Broker-Dealer shall promptly pay such amounts on demand. Broker-Dealer hereby indemnifies and holds harmless Company and F&G Securities from any such deficiency and from the costs of collection thereof, including reasonable attorneys’ fees
Fidelity Bond/Insurance. Borrower will obtain and keep in full force and effect fidelity bond insurance coverage in an amount reasonably deemed sufficient.
Fidelity Bond/Insurance. The Custodian shall, at its own expense, maintain at all times during the existence of this Agreement and keep in full force and effect a fidelity bond and document hazard insurance in a sufficient amount or be otherwise adequately self-insured to cover any and all transactions contemplated by this Agreement.
Fidelity Bond/Insurance. The Subservicer shall maintain, at its own expense, a blanket fidelity bond and an errors and omissions insurance policy, with broad coverage on all officers, employees and other persons acting in any capacity with regard to the Loans and who handle funds, money, documents and papers relating to the Loans. The fidelity bond and errors and omissions insurance shall be in the form of the Mortgage Banker's Blanket Bond and shall protect and insure the Subservicer against losses, including forgery, theft, embezzlement, fraud, errors and omissions and negligent acts of such persons. No provision of this Section 2.07 requiring the fidelity bond and errors and omissions insurance shall diminish or relieve the Subservicer from its duties and obligations as set forth in this Agreement. The minimum coverage under any such fidelity bond and insurance policy shall be at least equal to the corresponding amounts acceptable to Xxxxxx Xxx in the Xxxxxx Mae Guide or by Xxxxxxx Mac in the Xxxxxxx Mac Guide. The Subservicer will pass on any monies to Owner that are collected from such fidelity bond described above and collected subject to the Mortgage Loans of this Agreement. The Subservicer shall, upon request of Owner, deliver to the Owner a certificate from the surety and the insurer as to the existence of the fidelity bond and errors and omissions insurance policy and shall obtain a statement from the surety and the insurer that such fidelity bond or insurance policy shall in no event be terminated or materially modified without thirty days prior written notice to the Owner. The Subservicer shall notify the Owner within five Business Days of receipt of notice that such fidelity bond or insurance policy will be, or has been, materially modified or terminated. To the extent Subservicer receives payments under such fidelity bond or errors and omissions policy, which payments relate to any Mortgage Loan subject to this Agreement, Subservicer shall remit such payments to Owner to the extent necessary to prevent Owner from sustaining any loss in connection with any such Mortgage Loan.
