Examples of Faxxxx Xax in a sentence
The Master Servicer and each Servicer shall obtain (to the extent generally commercially available from time to time) and maintain fidelity bond and errors and omissions coverage acceptable to Faxxxx Xax xr Frxxxxx Xac with respect to their obligations under this Agreement and the applicable Selling and Servicing Contract, respectively.
The Servicer shall withdraw from the Custodial Account funds necessary for the proper operation, management and maintenance of the REO Property, including the cost of maintaining any hazard insurance pursuant to the Faxxxx Xax Xuides.
Such insurance shall be with insurers approved by the Master Servicer and Faxxxx Xax xr Frxxxxx Xac.
Such Fidelity Bond and Errors and Omissions Insurance shall be maintained with recognized insurers, shall be in such form and amount as would permit the Servicer to be qualified as a Faxxxx Xax xr Frxxxxx Xac seller/servicer, and shall by its terms not be cancelable without thirty days’ prior written notice to the Master Servicer and the NIMS Insurer.
In addition, with respect to any Mortgage Loan serviced for a Faxxxx Xax xool, the Servicer shall transmit full credit reporting data to each of such credit repositories in accordance with Faxxxx Xae Guide Announcement 95-19 (November 20, 1995), a copy of which is attached hereto as Exhibit G, reporting each of the following statuses, each month with respect to a Mortgage Loan in a Faxxxx Xax xool: New origination, current, delinquent (30-60-90-days, etc), foreclosed or charged off.
The Servicer shall keep in force during the term of this Agreement a Fidelity Bond and Errors and Omissions Insurance the minimum coverage of which shall be at least equal to the coverage required by Frxxxxx Xac in the Frxxxxx Xac Guide or Faxxxx Xax xn the Faxxxx Xae Guides (unless a waiver of such requirement has been obtained by the Servicer from either Frxxxxx Xac or Faxxxx Xae).
In addition, upon either such deposit, Faxxxx Xax xhall cause the Funding Note and the Pledged Securities to be transferred to the Subsidiary, free and clear of the security interest created by this Agreement.
Faxxxx Xax xereby consents to the transfer of the Mortgaged Property and to the assumption by Transferee of all of the obligations of Transferor under the Loan Documents, subject to the terms and conditions set forth in this Agreement.
Subsidiary will deliver the duly executed Funding Note and the documents set forth in Section 4.1.10 to Faxxxx Xax xn or prior to Closing to be held in escrow as provided for in Section 4.1.10.
The audible alarm shall deactivate after 30 seconds but the visual alarm shall remain active until the reset of the Caution Alarm.