Common use of Approved Servicer Clause in Contracts

Approved Servicer. Other than as disclosed to the Lender Agent prior to the Closing Date, with respect to the Guarantors (other than ResCap) only, each such Guarantor is approved by ▇▇▇▇▇▇ ▇▇▇ as an approved lender, and GMAC Mortgage is approved by each of ▇▇▇▇▇▇▇ Mac and ▇▇▇▇▇▇ ▇▇▇ as an approved seller, HUD pursuant to Sections 203 and 211 of the National Housing Act, the FHA as an FHA Approved Mortgagee and Servicer, and the VA as a VA Approved Lender. GMAC Mortgage is approved by ▇▇▇▇▇▇▇ Mac, ▇▇▇▇▇▇ ▇▇▇ and ▇▇▇▇▇▇ ▇▇▇ as an approved servicer. In each such case, (w) each such Guarantor is in good standing with ▇▇▇▇▇▇▇ Mac, ▇▇▇▇▇▇ ▇▇▇, HUD, the FHA, and/or the VA, as applicable, (x) no Guarantor has received from ▇▇▇▇▇▇▇ Mac, ▇▇▇▇▇▇ ▇▇▇, HUD, the FHA or the VA any notice revoking or suspending, or indicating any adverse fact or circumstance which could reasonably be expected to entitle ▇▇▇▇▇▇▇ Mac, ▇▇▇▇▇▇ ▇▇▇, HUD, the FHA or the VA, as the case may be, to revoke or suspend any of the aforementioned approvals, and (y) each FHA Insurance Contract and VA Guaranty Agreement applicable to the Guarantors (other than ResCap) or their Subsidiaries is in full force and effect.

Approved Servicer. Other than as disclosed to the Lender Credit Agent prior to the Closing Date, with respect to the Guarantors (other than ResCap) only, each such Guarantor is approved by ▇▇▇▇▇▇ ▇▇▇ as an approved lender, and GMAC Mortgage is approved by each of ▇▇▇▇▇▇▇ Mac and ▇▇▇▇▇▇ ▇▇▇ as an approved seller, HUD pursuant to Sections 203 and 211 of the National Housing Act, the FHA as an FHA Approved Mortgagee and Servicer, and the VA as a VA Approved Lender. GMAC Mortgage is approved by ▇▇▇▇▇▇▇ Mac, ▇▇▇▇▇▇ ▇▇▇ Mac and ▇▇▇▇▇▇ ▇▇▇ Mae as an approved servicer. In each such case, (w) each such Guarantor is in good standing with ▇▇▇▇▇▇▇ Mac, ▇▇▇▇▇▇ ▇▇▇, HUD, the FHA, and/or the VA, as applicable, (x) no Guarantor has received from ▇▇▇▇▇▇▇ Mac, ▇▇▇▇▇▇ ▇▇▇, HUD, the FHA or the VA any notice revoking or suspending, or indicating any adverse fact or circumstance which could reasonably be expected to entitle ▇▇▇▇▇▇▇ Mac, ▇▇▇▇▇▇ ▇▇▇, HUD, the FHA or the VA, as the case may be, to revoke or suspend any of the aforementioned approvals, and (y) each FHA Insurance Contract and VA Guaranty Agreement applicable to the Guarantors (other than ResCap) or their Subsidiaries is in full force and effect.