Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Policy shall not be considered payment of such Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01. The Depositor, the Master Servicer, each Servicer, the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust Administrator, the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 11 contracts
Sources: Pooling and Servicing Agreement (Long Beach Securities Corp), Pooling and Servicing Agreement (Argent Securities Inc), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Securities Inc)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Certificates, and (b) the Certificate Insurer shall be paid such principal and interest but only amounts from the sources and in the manner provided herein for the payment of such principal amounts and interestas provided in the Insurance and Indemnity Agreement. The Trustee, the Trust Administrator, the Master Servicer Trustee and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 9 contracts
Sources: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, for purposes of this Section 12.03, any payment with respect to principal of or interest on any of the Class A Insured Certificates which is made with moneys monies received pursuant to the terms of the Certificate Policy shall not be considered payment of such Class A the Insured Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, the Company and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A an Insured Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the DepositorMaster Servicer, the Servicers, the Master ServicerCompany, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Insured Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Insured Certificateholder, the Master Servicer, the Company and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund and (b) Fund; provided that the Certificate Insurer shall be paid such principal and interest but amounts only from the sources and in the manner explicitly provided herein for the payment of such principal and interestherein. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 5 contracts
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc), Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc), Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The DepositorCompany, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the ServicersCompany, the Master Servicer, Servicer or the Trustee or the Trust Administrator (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Class A Certificates, and (b) the Certificate Insurer shall be paid such principal and interest amounts but only from the sources and in the manner provided herein for the payment of such principal and interestamounts. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 5 contracts
Sources: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp), Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp), Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein in this Agreement to the contrary notwithstanding, for purposes of this Section 12.03, any payment with respect to principal of or interest on any of the Class A A-1-W and Class A-3-W Certificates which that is made with moneys monies received pursuant to the terms of the Certificate Policy shall not be considered payment of such the Class A A-1-W and Class A-3-W Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, the Depositor and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A A-1-W and Class A-3-W Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the ServicersSecurities Administrator, the Master Servicer, the Depositor, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer or the Fiscal Agent makes payments, directly or indirectly, on account of principal of or interest on any the Class A A-1-W and Class A-3-W Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Holder of the Class A-1-W and Class A-3-W Certificates, the Securities Administrator, the Master Servicer, the Depositor and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund and (b) Fund; provided that the Certificate Insurer shall be paid such principal and interest but amounts only from the sources and in the manner explicitly provided herein for in this Agreement. Subject to Section 6.01(c)(iv), the payment of such principal and interest. The Trustee, the Trust Administrator, Securities Administrator and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's ’s rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth hereinin this Agreement.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-10xs), Pooling and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-10xs), Pooling and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-10xs)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Trust. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (ai) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Certificates, and (bii) the Certificate Insurer shall be paid such principal and interest amounts but only from the sources and in the manner provided herein for the payment of such principal and interestamounts. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.] [Remainder of this page intentionally left blank]
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Bcap LLC), Pooling and Servicing Agreement (Painewebber Mortgage Acceptance Corporation Iv), Pooling and Servicing Agreement (Securitized Asset Backed Receivables LLC)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates and the Residual Certificates which is made with moneys received pursuant to the terms of the Policy shall not be considered payment of such Class A Certificates and the Residual Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Class A Certificates and the Residual Certificates within the meaning of Section 4.01. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, Servicer or the Trustee or the Trust Administrator (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A Certificates and the Residual Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Ast Bk Fl Rte Cer Se 1997-Nc1), Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Inc Asst Back Cert Se 1997-Nc3), Pooling and Servicing Agreement (Salomon Br Mor Sec Vii Inc New Cen Ast BCK Fl Rt Ce 1997 Nc2)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Certificates, and (b) the Certificate Insurer shall be paid such principal and interest but only amounts from the sources and in the manner provided herein for the payment of such principal amounts and interestas provided in the Insurance and Reimbursement Agreement. The Trustee, the Trust Administrator, the Master Servicer Trustee and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (American Business Financial Services Inc /De/), Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, for purposes of this Section 12.03, any payment with respect to principal of or interest on any of the Class A Insured Certificates which is made with moneys monies received pursuant to the terms of the Certificate Policy shall not be considered payment of such Class A the Insured Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, the Company and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A an Insured Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the DepositorMaster Servicer, the Servicers, the Master ServicerCompany, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer or any fiscal agent on behalf of the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Insured Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Insured Certificateholder, the Master Servicer, the Company and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund and (b) Fund; provided that the Certificate Insurer shall be paid such principal and interest but amounts only from the sources and in the manner explicitly provided herein for the payment of such principal and interestherein. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc), Pooling and Servicing Agreement (RALI Series 2005-Qs5 Trust), Pooling and Servicing Agreement (Residential Funding Mortgage Securities I 2004-S4)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, for purposes of this Section 12.03, any payment with respect to principal of or interest on any of the Class A Insured Certificates which is made with moneys monies received pursuant to the terms of the Certificate Policy shall not be considered payment of such Class A any Insured Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, the Company and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A an Insured Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the DepositorMaster Servicer, the Servicers, the Master ServicerCompany, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A Insured Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Insured Certificateholder, the Master Servicer, the Company and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund and (b) Fund; provided that the Certificate Insurer shall be paid such principal and interest but amounts only from the sources and in the manner explicitly provided herein for the payment of such principal and interestherein. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc), Pooling and Servicing Agreement (Residential Accredit Loans Inc), Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Policy shall not be considered payment of such Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Class A Certificates within the meaning of Section 4.01. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Pooling and Servicing Agreement (United Panam Financial Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Policy Certificate Insurance Policies shall not be considered payment of such Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.017.03. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder Owner by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A Certificates to the Holders Owners of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders holders to receive such principal and interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust AdministratorSeller, the Master Servicer Depositor and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders Owners as otherwise set forth hereintherein.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Centex Home Equity Ln Asset Bk Cert Ser 1999-3), Pooling and Servicing Agreement (Chec Funding LLC), Pooling and Servicing Agreement (Chec Asset Receivables Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Policy Certificate Insurance Policies shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Trust. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate 107 Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (ai) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Certificates, and (bii) the Certificate Insurer shall be paid such principal and interest amounts but only from the sources and in the manner provided herein for the payment of such principal and interestamounts. The Trustee, the Trust Administrator, the Master Servicer Trustee and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Home Equity Securitization Corp), Pooling and Servicing Agreement (Residential Asset Funding Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, for purposes of this Section 12.03, any payment with respect to principal of or interest on any of the Class A Retail Certificates which is made with moneys monies received pursuant to the terms of the Certificate Policy shall not be considered payment of such Class A any Retail Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, the Company and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A an Retail Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the DepositorMaster Servicer, the Servicers, the Master ServicerCompany, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A Retail Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Retail Certificateholder, the Master Servicer, the Company and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund and (b) Fund; provided that the Certificate Insurer shall be paid such principal and interest but amounts only from the sources and in the manner explicitly provided herein for the payment of such principal and interestherein. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Residential Accredit Loans Inc), Pooling and Servicing Agreement (Residential Accredit Loans Inc), Pooling and Servicing Agreement (Residential Accredit Loans Inc)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A or Residual Certificates which is made with moneys received pursuant to the terms of the Policy shall not be considered payment of such Class A or Residual Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Class A or Residual Certificates within the meaning of Section 4.01. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A or Residual Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting which does not limit the rights or affecting affect the interests of the Holders as otherwise set forth herein.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Asset Bk Fl Rte Ce Se 1996 Lb3), Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Ast Bk Fl Rte Cer Se 1996-Lb1a)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Trust. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (ai) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Certificates, and (bii) the Certificate Insurer shall be paid such principal and interest amounts but only from the sources and in the manner provided herein for the payment of such principal and interestamounts. The Trustee, the Trust Administrator, the Master Servicer Trustee and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Painewebber Mort Accept Corp Iv New South Home Eq Tr 1999-1), Pooling and Servicing Agreement (Painewebber Mort Accept Corp Iv New South 1999 2)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, for purposes of this Section 12.03, any payment with respect to principal of or interest on any of the Class A Insured Certificates which is made with moneys monies received pursuant to the terms of the related Certificate Policy shall not be considered payment of such Class A any Insured Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, the Company and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A an Insured Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the DepositorMaster Servicer, the Servicers, the Master ServicerCompany, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A Insured Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each related Insured Certificateholder, the Master Servicer, the Company and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to 126 consent to any amendment as provided in Section 11.01 and the rights of such Holders to receive such principal and interest from the Trust Fund and (b) Fund; provided that the Certificate Insurer shall be paid such principal and interest but amounts only from the sources and in the manner explicitly provided herein for the payment of such principal and interestherein. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Impac Secured Assets Corp), Pooling and Servicing Agreement (Impac Secured Assets Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The DepositorCompany, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the DepositorCompany, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Class A Certificates, and (b) the Certificate Insurer shall be paid such principal and interest amounts but only from the sources and in the manner provided herein for the payment of such principal and interestamounts. The Trustee, the Trust Administrator, the Master Servicer Trustee and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Nations Banc Asset Sec Ins Asset Backed Cert Series 1997-1), Pooling and Servicing Agreement (Nations Asset Securities Inc)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A M Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such the Class A M Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A M Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A M Certificates to the Holders of such Class M Certificates, the Certificate Insurer will be fully subrogated to, and each Class M Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Class M Certificateholders in respect of securities law violations arising from the offer and sale of the Class M Certificates, and (b) the Certificate Insurer shall be paid such principal and interest but only amounts from the sources and in the manner provided herein for the payment of such principal amounts and interestas provided in the Insurance and Indemnity Agreement. The Trustee, the Trust Administrator, the Master Servicer Trustee and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (American Business Financial Services Inc /De/), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein in this Agreement to the contrary notwithstanding, for purposes of this Section 12.03, any payment with respect to principal of or interest on any of the Class A 2-A-4 Certificates which that is made with moneys monies received pursuant to the terms of the Certificate Policy shall not be considered payment of such the Class A 2-A-4 Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, the Depositor and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A 2-A-4 Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the DepositorMaster Servicer, the Servicers, the Master ServicerDepositor, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer or the Fiscal Agent makes payments, directly or indirectly, on account of principal of or interest on any the Class A 2-A-4 Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Holder of the Class 2-A-4 Certificates, the Master Servicer, the Depositor and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund and (b) Fund; provided that the Certificate Insurer shall be paid such principal and interest but amounts only from the sources and in the manner explicitly provided herein for the payment of such principal and interestin this Agreement. The Trustee, the Trust Administrator, Securities Administrator and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth hereinin this Agreement.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Mort Pas THR Certs Ser 2004-1), Pooling and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2004-3)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Senior Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Senior Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such the Senior Certificates within the meaning of Section 4.015.01. The Depositor, the Master Servicer, each ServicerSeller, the Trustee Servicer and the Trust Administrator Trustee acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the ServicersSeller, the Master Servicer, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Senior Certificates to the Holders of such Senior Certificates, (i) the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (bii) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The TrusteeDepositor, the Trust Administrator, the Master Servicer Seller and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Renaissance Mortgage Acceptance Corp), Pooling and Servicing Agreement (Renaissance Home Equity Loan Asset-BKD Cert Series 2002-1)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, for purposes of this Section 12.03, any payment with respect to principal of or interest on any of the Class A Insured Certificates which is made with moneys monies received pursuant to the terms of the Certificate Policy shall not be considered payment of such Class A the Insured Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A an Insured Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Insured Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Insured Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund and (b) Fund; provided that the Certificate Insurer shall be paid such principal and interest but amounts only from the sources and in the manner explicitly provided herein for the payment of such principal and interestherein. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.. 158
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc), Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Senior Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Senior Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such the Senior Certificates within the meaning of Section 4.015.01. The Depositor, the Master Servicer, each ServicerSeller, the Trustee Servicer and the Trust Administrator Trustee acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the ServicersSeller, the Master Servicer, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Senior Certificates to the Holders of such Senior Certificates, (i) the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (bii) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The TrusteeDepositor, the Trust Administrator, the Master Servicer Seller and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's ’s rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Renaissance Home Equity Loan Tr Asset BKD Cer Series 2002-3), Pooling and Servicing Agreement (Renaissance Home Equity Loan Tr Asset BKD Cer Ser 2002-4)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Policy Certificate Insurance Policies shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Trust. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (ai) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Certificates, and (bii) the Certificate Insurer shall be paid such principal and interest amounts but only from the sources and in the manner provided herein for the payment of such principal and interestamounts. The Trustee, the Trust Administrator, the Master Servicer Trustee and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Trust. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (ai) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Certificates, and (bii) the Certificate Insurer shall be paid such principal and interest amounts but only from the sources and in the manner provided herein for the payment of such principal and interestamounts. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.. [Remainder of this page intentionally left blank]
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A A-1 Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such the Class A A-1 Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A A-1 Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A A-1 Certificates to the Holders of such Class of Certificates, the Certificate Insurer will shall be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner and order of priority in relation to other Classes of Certificates as is set forth in this Agreement) from the Trust Fund Fund, and (b) the Certificate Insurer shall be paid such principal and interest but only amounts from the sources and in the manner provided herein for the payment of such principal amounts and interestas provided in this Agreement until full reimbursement of all Insured Payments (together with interest thereon at the Pass-Through Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof). The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein.. 129
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Ace Securities Corp Series HE2)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such the Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by 106 its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A Certificates to the Holders of such Class of Certificates, the Certificate Insurer will shall be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust Fund Fund, and (b) the Certificate Insurer shall be paid such principal and interest but only amounts from the sources and in the manner provided herein for the payment of such principal amounts and interestas provided in this Agreement until full reimbursement of all Insured Payments (together with interest thereon at the Late Payment Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof). The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein.. 107
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Argent Securities Asset Bcked Pass Through Certs Ser 2004-W4)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A or Class A-IO Certificates which is made with moneys received pursuant to the terms of the Policy Certificate Insurance Policies shall not be considered payment of such Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.017.03. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder Owner by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A or Class A-IO Certificates to the Holders Owners of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders holders to receive such principal and interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust Administrator, the Master Servicer Depositor and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders Owners as otherwise set forth hereintherein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Asset Backed Sec Corp Home Equity Loan Tr 1999-Lb1)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Policy shall not be considered payment of such Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01. The Depositor, the Master Servicer, each Servicer, the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust Administrator, Administrator and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Salom BRS MRT Sec Vii Call FLT Rt Mt Ps Th Cer Ser 1998 Nc5)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates or Class M-1 Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such the Class A Certificates or Class M-1 Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate or Class M-1 Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A Certificates or Class M-1 Certificates to the Holders of such Class of Certificates, the Certificate Insurer will shall be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust Fund Fund, and (b) the Certificate Insurer shall be paid such principal and interest but only amounts from the sources and in the manner provided herein for the payment of such principal amounts and interestas provided in this Agreement. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Argent Securities Inc Asset Back Thru Cert Series 203-W6)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein Notwithstanding any other provision of this Agreement to the contrary notwithstandingcontrary, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such the Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, the Trustee and the Trust Securities Administrator acknowledge, and each Holder Holder, by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee Securities Administrator or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A Certificates to the Holders of such Class A Certificates, the Certificate Insurer will be fully subrogated to, and each Class A Certificateholder, the Servicer and the Securities Administrator hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Class A Certificateholders in respect of securities law violations arising from the offer and sale of the Class A Certificates, and (b) the Certificate Insurer shall be paid such principal and interest but only amounts from the sources and in the manner provided herein for the payment of such principal amounts and interestas provided in this Agreement. The Trustee, the Trust Administrator, the Master Servicer Securities Administrator and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth hereinin this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2007-Nc4)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such the Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such the Class A Certificates within the meaning of Section 4.015.01. The DepositorSeller, the Master Servicer, each Servicerthe Trustee, the Trustee Representative and the Trust Administrator each Originator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the ServicersSeller, the Master Servicer, the Trustee Trustee, the Representative, any Originator or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A Certificates to the Holders of such Certificates, (i) the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (bii) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, Seller the Trust AdministratorMaster Servicer, the Master Servicer Representative and the Servicers each Originator shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.preserve
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Avco Abs Receivables Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates or any of the Class S Certificates which is made with moneys received pursuant to the terms of the Policy shall not be considered payment of such Class A Certificates or Class S Certificates, as applicable, from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate or a Class S Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, Servicer or the Trustee or the Trust Administrator (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A Certificates or Class S Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Asset Securities Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Senior Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Senior Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such the Senior Certificates within the meaning of Section 4.015.01. The DepositorSeller, the Master Servicer, each Servicer, the Trustee Securities Administrator and the Trust Administrator Trustee acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the DepositorSeller, the Servicers, the Master Servicer, the Trustee the Securities Administrator or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Senior Certificates to the Holders of such Senior Certificates, (i) the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (bii) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust AdministratorSeller, the Master Servicer Securities Administrator and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Delta Funding Home Equity Loan Tr 99-3 Home Eq as Bk Se 99-3)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Offered Certificates which is made with moneys received pursuant to the terms of the Policy shall not be considered payment of such Class A the Offered Certificates from the Trust Fund REMIC I and shall not result in the payment of or the provision for the payment of the principal of or interest 133 on such the Offered Certificates within the meaning of Section 4.014.04. The Depositor, the Master Servicer, each Servicer, the Trustee and the Trust Administrator and the Trustee acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee Trust Administrator or the Trust Administrator (a) Trustee, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Offered Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and and/or interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. REMIC I. The Trustee, the Depositor, the Trust Administrator, Administrator and the Master Servicer and the Servicers shall reasonably cooperate in all respects with any reasonable request by the Certificate Insurer or the Class A Certificateholders (when other than the Depositor, the Master Servicer or any affiliate thereof) for action to preserve or enforce the Certificate Insurer's respective rights or interests of the Certificate Insurer or the Class A Certificateholders under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (New Century Mort Sec Inc New Cent Hm Eq Ln Tr Ser 2000-Nca)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Class A Certificates, and (b) the Certificate Insurer shall be paid such principal and interest amounts but only from the sources and in the manner provided herein for the payment of such principal and interestamounts. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the 143 principal of or interest on such Certificates within the meaning of Section 4.017.03. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder Owner by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A Certificates to the Holders Owners of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders holders to receive such principal and interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust AdministratorSellers, the Master Servicer Depositor and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders Owners as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Centex Credit Corp Home Eq Ln Asset Backed Cert Ser 2000 B)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.017.03. The Depositor, 140 the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder Owner by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A Certificates to the Holders Owners of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders holders to receive such principal and interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust AdministratorSellers, the Master Servicer Depositor and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders Owners as otherwise set forth hereintherein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Centex Home Equity Loan Trust 2000-A)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Insured Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Insured Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A an Insured Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Insured Certificates to the Holders of such Class of Certificates, the Certificate Insurer will shall be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust Fund Fund, and (b) the Certificate Insurer shall be paid such principal and interest but only amounts from the sources and in the manner provided herein for the payment of such principal amounts and interest. The Trustee, as provided in this Agreement until full reimbursement of all Policy Payments (together with interest thereon at the Trust Administrator, Late Payment Rate from the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request date paid by the Certificate Insurer for action to preserve or enforce until the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests date of the Holders as otherwise set forth herein.reimbursement 122
Appears in 1 contract
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A or Class M Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such the Class A or Class M Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A or Class M Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A or Class M Certificates to the Holders of such Class of Certificates, the Certificate Insurer will be fully subrogated to, and each such Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to such Certificateholders in respect of securities law violations arising from the offer and sale of such Certificates, and (b) the Certificate Insurer shall be paid such principal and interest but only amounts from the sources and in the manner provided herein for the payment of such principal amounts and interestas provided in this Agreement. The Trustee, the Trust Administrator, the Master Servicer Trustee and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Abs Cap I Inc Mort Pas THR Certs Ser 2003-Nc9)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates or the Class IO Certificates which is made with moneys received pursuant to the terms of the either Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, Servicer or the Trustee or the Trust Administrator (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A Certificates or the Class IO Certificates to the Holders of such Certificates, the 107 Certificate Insurer will be fully subrogated to, and each Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Class A Certificates and the Class IO Certificates, and (b) the Certificate Insurer shall be paid such principal and interest amounts but only from the sources and in the manner provided herein for the payment of such principal amounts and interestas provided in the Insurance Agreement. The Trustee, the Trust Administrator, the Master Servicer Trustee and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders Certificateholders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Class A Certificates, and (b) the Certificate Insurer shall be paid such principal and interest amounts but only from the sources and in the manner provided herein for the payment of such principal and interestamounts. The Trustee, the Trust Administrator, the Master Servicer Trustee and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Ace Securities Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, for purposes of this Section 12.03, any payment with respect to principal of or interest on any of the Class A Insured Certificates which is made with moneys monies received pursuant to the terms of the Certificate Policy shall not be considered payment of such Class A any Insured Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A an Insured Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A Insured Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Insured Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund and (b) Fund; provided that the Certificate Insurer shall be paid such principal and interest but amounts only from the sources and in the manner explicitly provided herein for the payment of such principal and interestherein. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's Insurer ‘s rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, Servicer or the Trustee or the Trust Administrator (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Asset Backed Funding Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Offered Certificates which is made with moneys received pursuant to the terms of the Policy shall not be considered payment of such Class A the Offered Certificates from the Trust Fund Estate and shall not result in the payment of or the provision for the payment of the principal of or 130 interest on such the Offered Certificates within the meaning of Section 4.014.04. The Depositor, the Master Servicer, each Servicer, the Trustee and the Trust Administrator and the Trustee acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee Trust Administrator or the Trust Administrator (a) Trustee, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Offered Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and and/or interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interestEstate. The Trustee, the Depositor, the Trust Administrator, Administrator and the Master Servicer and the Servicers shall reasonably cooperate in all respects with any reasonable request by the Certificate Insurer or the Class A Certificateholders (when other than the Depositor, the Master Servicer or any affiliate thereof) for action to preserve or enforce the Certificate Insurer's respective rights or interests of the Certificate Insurer or the Class A Certificateholders under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (New Century Home Equity Loan Trust Series 1999-NCB)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, for purposes of this Section 12.03, any payment with respect to principal of or interest on any of the Class A Insured Certificates which is made with moneys monies received pursuant to the terms of the Certificate Policy shall not be considered payment of such Class A the Insured Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A an Insured Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Insured Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Insured Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund and (b) Fund; provided that the Certificate Insurer shall be paid such principal and interest but amounts only from the sources and in the manner explicitly provided herein for the payment of such principal and interestherein. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates or Class S Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.017.03. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder Owner by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A Certificates or the Class S Certificates to the Holders Owners of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust AdministratorSeller, the Master Servicer Depositor and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders Owners as otherwise set forth hereintherein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Imc Home Equity Loan Trust 1996-4)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (ai) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Certificates, and (bii) the Certificate Insurer shall be paid such principal and interest amounts but only from the sources and in the manner provided herein for the payment of such principal and interestamounts. The Trustee, the Trust Administrator, the Master Servicer Trustee and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.017.03. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder Owner by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A Certificates to the Holders Owners of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust AdministratorSeller, the Master Servicer Depositor and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders Owners as otherwise set forth hereintherein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Chec Asset Receivables Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The DepositorCompany, the Master Servicer, each Servicer, the Trustee Certificate Administrator and the Trust Administrator Trustee acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the DepositorCompany, the ServicersServicer, the Master ServicerCertificate Administrator, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Servicer, the Certificate Administrator and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Class A Certificates, and (b) the Certificate Insurer shall be paid such principal and interest amounts but only from the sources and in the manner provided herein for the payment of such principal and interestamounts. The Trustee, the Trust Administrator, the Master Servicer Certificate Administrator and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Chase Manhattan Acceptance Corp /De/)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the a Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from such Trust Fund, including, without limitation, any amounts due to the Trust Fund Certificateholders in respect of securities law violations arising from the offer and sale of the Certificates, and (b) the Certificate Insurer shall be paid such principal and interest but only amounts from the sources and in the manner provided herein for the payment of such principal amounts and interestas provided in the Insurance Agreement. The Trustee, the Trust Administrator, the Master Servicer Trustee and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The DepositorCompany, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the ServicersCompany, the Master Servicer, Servicer or the Trustee or the Trust Administrator (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Class A Certificates, and (b) the Certificate Insurer shall be paid such principal and interest amounts but only from the sources and in the manner provided herein for the payment of such principal and interestamounts. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.. 112
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such the Certificates within the meaning of Section 4.014.02. The DepositorSeller, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A an Offered Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the ServicersSeller, the Master Servicer, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Offered Certificates to the Holders of such Certificates, (i) the Certificate Insurer will be fully subrogated to the rights of such Holders to receive received such principal and interest from the Trust Fund and (bii) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust Administrator, Seller and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests interest of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Mellon Residential Funding Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Offered Certificates which is made with moneys received pursuant to the terms of the Policy shall not be considered payment of such Class A the Offered Certificates from the Trust Fund REMIC I and shall not result in the payment of or the provision for the payment of the principal of or interest on such the Offered Certificates within the meaning of Section 4.014.04. The Depositor, the Master Servicer, each Servicer, the Trustee 124 Trust Administrator and the Trust Administrator Trustee acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee Trust Administrator or the Trust Administrator (a) Trustee, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Offered Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and and/or interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. REMIC I. The Trustee, the Trust AdministratorDepositor, the Master Servicer Trust Administrator and the Servicers Servicer shall reasonably cooperate in all respects with any reasonable request by the Certificate Insurer or the Class A Certificateholders (when other than the Depositor, the Servicer or any affiliate thereof) for action to preserve or enforce the Certificate Insurer's respective rights or interests of the Certificate Insurer or the Class A Certificateholders under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (New Century Home Eq Ln Tr Ser 2000 NCB Asset Back Ps THR Cer)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Insured Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Insured Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A an Insured Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Insured Certificates to the Holders of such Class of Certificates, the Certificate Insurer will shall be fully subrogated to, and each such Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust Fund Fund, and (b) the Certificate Insurer shall be paid such principal and interest but only amounts from the sources and in the manner provided herein for the payment of such principal amounts and interestas provided in this Agreement until full reimbursement of all Policy Payments (together with interest thereon at the Late Payment Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof). The Trustee, the Trust Administrator, the Master Servicer Trustee and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests 128 under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein.. 129
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust, Series 2004-Res1)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, for purposes of this Section 13.03, any payment with respect to principal of or interest on any of the Class A Insured Certificates which is made with moneys monies received pursuant to the terms of the Certificate Policy shall not be considered payment of such Class A the Insured Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, the Company and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A an Insured Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the DepositorMaster Servicer, the Servicers, the Master ServicerCompany, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer or any fiscal agent on behalf of the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Insured Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Insured Certificateholder, the Master Servicer, the Company and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund and (b) Fund; provided that the Certificate Insurer shall be paid such principal and interest but amounts only from the sources and in the manner explicitly provided herein for the payment of such principal and interestherein. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RALI Series 2006-Qo4 Trust)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Trust. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (ai) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Certificates, and (bii) the Certificate Insurer shall be paid such principal and interest amounts but only from the sources and in the manner provided herein for the payment of such principal and interestamounts. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's ’s rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.]
Appears in 1 contract
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A I-A1 Certificates which is made with moneys received pursuant to the terms of the Policy shall not be considered payment of such Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder of a Class I-A1 Certificate by its acceptance of a Class A such Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, Servicer or the Trustee or the Trust Administrator (ai) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A I-A1 Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (bii) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. 174 The Trustee, the Trust Administratorsubject to Sections 8.05 and 12.09, and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates or any of the Class S Certificates which is made with moneys received pursuant to the terms of the Policy shall not be considered payment of such Class A Certificates or Class S Certificates, as applicable, from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate or a Class S Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, Servicer or the Trustee or the Trust Administrator (a) to the extent the Certificate Insurer makes payments, directly or indirectly, 122 on account of principal of or interest on any Class A Certificates or Class S Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mort Ln Tr 1999-3 Asset Backed Cert Ser 1999-3)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein in this Agreement to the contrary notwithstanding, for purposes of this Section 12.03, any payment with respect to principal of or interest on any of the Class A A-2-B, Class A-4-B, Class A-5-B and Class A-6-B Certificates which that is made with moneys monies received pursuant to the terms of the Certificate Policy shall not be considered payment of such the Class A A-2-B, Class A-4-B, Class A-5-B and Class A-6-B Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, the Depositor and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A A-2-B, Class A-4-B, Class A-5-B and Class A-6-B Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the ServicersSecurities Administrator, the Master Servicer, the Depositor, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer or the Fiscal Agent makes payments, directly or indirectly, on account of principal of or interest on any the Class A A-2-B, Class A-4-B, Class A-5-B and Class A-6-B Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Holder of the Class A-2-B, Class A-4-B, Class A-5-B and Class A-6-B Certificates, the Securities Administrator, the Master Servicer, the Depositor and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund and (b) Fund; provided that the Certificate Insurer shall be paid such principal and interest but amounts only from the sources and in the manner explicitly provided herein for in this Agreement. Subject to Section 6.01(c)(iv), the payment of such principal and interest. The Trustee, the Trust Administrator, Securities Administrator and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth hereinin this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-15xs)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Insured Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Insured Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such the Insured Certificates within the meaning of Section 4.015.01. The Depositor, the Master Servicer, each ServicerSeller, the Trustee Servicer and the Trust Administrator Trustee acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the ServicersSeller, the Master Servicer, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Insured Certificates to the Holders of such Insured Certificates, (i) the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (bii) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. Any payments of a Subordination Deficit by the Certificate Insurer shall be deemed to be a payment of principal solely for the purposes of this Section 11.13 and the Certificate Insurer shall be fully subrogated to the rights of the Holders of Insured Certificates to receive such payments of any Subordination Deficit as a payment of principal and the related interest payments thereon. The TrusteeDepositor, the Trust Administrator, the Master Servicer Seller and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's ’s rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2004-2)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A AF-3 Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such the Class A AF-3 Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A AF-3 Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A AF-3 Certificates to the Holders of such Class of Certificates, the Certificate Insurer will shall be fully subrogated to, and each such Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner and order of priority in relation to other Classes of Certificates as is set forth in this Agreement) from the Trust Fund Fund, and (b) the Certificate Insurer shall be paid such principal and interest but only amounts from the sources and in the manner provided herein for the payment payments of such principal amounts and interestas provided in this Agreement until full reimbursement of all Insured 117 Payments (together with interest thereon at the Pass-Through Rate form the date paid by the Certificate Insurer until the date of reimbursement thereof). The Trustee, the Trust Administrator, the Master Servicer Trustee and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein.
(a) By accepting its Certificate, each Class AF-3 Certificateholder agrees that, unless a Certificate Insurer Default exists, the Certificate Insurer shall be deemed to be the Class AF-3 Certificateholders for all purposes (other than with respect to the receipt of payment on such Classes of Certificates except payments with respect to which the Certificate Insurer has subrogation rights as set forth herein) and shall have the right to exercise all rights of such Certificateholders under this Agreement and under the Class AF-3 Certificates without any further consent of such Certificateholders.
(b) All notices, statements, reports, certificates or opinions required by this Agreement to be sent to any Class AF-3 Certificateholder shall also be sent to the Certificate Insurer.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc C-Bass 2004-Cb6 Trust)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Offered Certificates which is made with moneys received pursuant to the terms of the Policy shall not be considered payment of such Class A the Offered Certificates from the Trust Fund Estate and shall not result in the payment of or the provision for the payment of the principal of or 128 interest on such the Offered Certificates within the meaning of Section 4.014.04. The Depositor, the Master Servicer, each Servicer, the Trustee and the Trust Administrator and the Trustee acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee Trust Administrator or the Trust Administrator (a) Trustee, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Offered Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and and/or interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interestEstate. The Trustee, the Depositor, the Trust Administrator, Administrator and the Master Servicer and the Servicers shall reasonably cooperate in all respects with any reasonable request by the Certificate Insurer or the Class A Certificateholders (when other than the Depositor, the Master Servicer or any affiliate thereof) for action to preserve or enforce the Certificate Insurer's respective rights or interests of the Certificate Insurer or the Class A Certificateholders under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (New Century Mort Sec Inc Home Equity Loan Trust Ser 1999 NCD)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Senior Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Senior Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such the Senior Certificates within the meaning of Section 4.015.01. The Depositor, the Seller, the Master Servicer, each Servicer, the Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the ServicersSeller, the Master Servicer, the Trustee Trustee, the Servicer or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Senior Certificates to the Holders of such Senior Certificates, (i) the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (bii) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The TrusteeDepositor, the Trust AdministratorSeller, the Servicer and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Asset Se Cp Soundview Hm Eq Ln as Bk Cer Se 2001-1)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Policy shall not be considered payment of such Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Class A Certificates within the meaning of Section 4.01. The Depositor, the Master Servicer, each Servicer, the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or Trustee, the Trust Administrator or the Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (b) the Certificate Insurer 106 shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The Trustee, the Trust Administrator, the Master Servicer Administrator and the Servicers Servicer shall each cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such Class A the Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder, the Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Fund, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Certificates, and (b) the Certificate Insurer shall be paid such principal and interest but only amounts from the sources and in the manner provided herein for the payment of such principal amounts and interestas provided in the Insurance Agreement. The Trustee, the Trust Administrator, the Master Servicer Trustee and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A A-1B Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such the Class A A-1B Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A A-1B Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A A-1B Certificates to the Holders of such Class of Certificates, the Certificate Insurer will shall be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner and order of priority in relation to other Classes of Certificates as is set forth in this Agreement) from the Trust Fund Fund, and (b) the Certificate Insurer shall be paid such principal and interest but only amounts from the sources and in the manner provided herein for the payment of such principal amounts and interestas provided in this Agreement until full reimbursement of all Insured Payments (together with interest thereon at the Pass-Through Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof). The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein.. 135
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp Series 2004-Rm1)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such the Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A Certificates to the Holders of such Class of Certificates, the Certificate Insurer will shall be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner set forth in the Insurance Agreement) from the Trust Fund Fund, and (b) the Certificate Insurer shall be paid such principal and interest but only amounts from the sources and in the manner provided herein for the payment of such principal amounts and interestas provided in this Agreement until full reimbursement of all Insured Payments (together with interest thereon at the Late Payment Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof). The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein.
Appears in 1 contract
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein in this Agreement to the contrary notwithstanding, for purposes of this Section 12.03, any payment with respect to principal of or interest on any of the Class A A-2-W and Class A-5-W Certificates which that is made with moneys monies received pursuant to the terms of the Certificate Policy shall not be considered payment of such the Class A A-2-W and Class A-5-W Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, the Depositor and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A A-2-W and Class A-5-W Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the ServicersSecurities Administrator, the Master Servicer, the Depositor, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer or the Fiscal Agent makes payments, directly or indirectly, on account of principal of or interest on any the Class A A-2-W and Class A-5-W Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Holder of the Class A-2-W and Class A-5-W Certificates, the Securities Administrator, the Master Servicer, the Depositor and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund and (b) Fund; provided that the Certificate Insurer shall be paid such principal and interest but amounts only from the sources and in the manner explicitly provided herein for in this Agreement. Subject to Section 6.01(c)(iv), the payment of such principal and interest. The Trustee, the Trust Administrator, Securities Administrator and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth hereinin this Agreement.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-17xs)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such the Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Trust. The Depositor, the Master Servicer, each Servicer, the Trustee Certificate Administrator and the Trust Administrator Trustee acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the ServicersServicer, the Master ServicerCertificate Administrator, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Certificates to the Holders of such Class A Certificates, the Certificate Insurer will be fully subrogated to, and each Certificateholder and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund Trust, including, without limitation, any amounts due to the Certificateholders in respect of securities law violations arising from the offer and sale of the Class A Certificates, and (b) the Certificate Insurer shall be paid such principal and interest amounts but only from the sources and in the manner provided herein for the payment of such principal and interestamounts. The Trustee, the Trust Administrator, the Master Servicer Trustee and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Norwest Asset Acceptance Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Offered Certificates which is made with moneys received pursuant to the terms of the Policy shall not be considered payment of such Class A the Offered Certificates from the Trust Fund Estate and shall not result in the payment of or the provision for the payment of the principal of or interest on such the Offered Certificates within the meaning of Section 4.014.04. The Seller, the Depositor, the Master Servicer, each Servicer, the Trustee Trust Administrator and the Trust Administrator Trustee acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the DepositorSeller, the Servicers, the Master Servicer, the Trustee Trust Administrator or the Trust Administrator (a) Trustee, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Offered Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and and/or interest from the Trust Fund and (b) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interestEstate. The Trustee, the Trust AdministratorDepositor, the Master Servicer Trust Administrator and the Servicers Servicer shall reasonably cooperate in all respects with any reasonable request by the Certificate Insurer or the Class A Certificateholders (when other than the Seller, the Servicer or any affiliate thereof) for action to preserve or enforce the Certificate Insurer's respective rights or interests of the Certificate Insurer or the Class A Certificateholders under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Asset Securities Corp)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A A-1 Certificates or Class A-2 Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such the Class A A-1 Certificates or Class A-2 Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The Depositor, the Master Servicer, each Servicer, Servicer and the Trustee and the Trust Administrator acknowledge, and each Holder by its acceptance of a Class A A-1 Certificate or Class A-2 Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the Servicers, the Master Servicer, the Trustee or the Trust Administrator Certificate Registrar (a) to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A A-1 Certificates to the Holders of such Class of Certificates, the Certificate Insurer will shall be fully subrogated to, and each such Certificateholder, the Master Servicer and the Trustee hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest (in the manner and order of priority in relation to other Classes of Certificates as is set forth in this Agreement) from the Trust Fund Fund, and (b) the Certificate Insurer shall be paid such principal and interest but only amounts from the sources and in the manner provided herein for the payment of such principal amounts and interestas provided in this Agreement until full reimbursement of all Insured Payments (together with interest thereon at the applicable Pass-Through Rate from the date paid by the Certificate Insurer until the date of reimbursement thereof). The Trustee, the Trust Administrator, Trustee and the Master Servicer and the Servicers shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders of the Insured Certificates as otherwise set forth herein.. 139
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp Series 2004-He4)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Insured Certificates which is made with moneys monies received pursuant to the terms of the Policy shall not be considered payment of such Class A the Insured Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such Certificates within the meaning of Section 4.01Fund. The DepositorSecurities Administrator, the Trustee, the Master Servicer, each Servicer, the Trustee Servicer and the Trust Administrator acknowledgeDepositor each acknowledges, and each Holder by its acceptance of a Class A Insured Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the DepositorSecurities Administrator, the ServicersTrustee, the Master Servicer, the Trustee Servicer or the Trust Administrator (a) Depositor, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any Class A the Insured Certificates to the Holders of such Certificates, the Certificate Insurer will be fully subrogated to, and each Holder of a Insured Certificate and the Securities Administrator hereby delegate and assign to the Certificate Insurer, to the fullest extent permitted by law, the rights of such Holders to receive such principal and interest from the Trust Fund and (b) Fund; provided that the Certificate Insurer shall be paid such principal and interest but amounts only from the sources and in the manner explicitly provided herein for herein. Notwithstanding anything to the payment contrary set forth herein, all amounts due to be distributed to the Certificate Insurer on any Distribution Date (i) in respect of such principal reimbursements of Scheduled Payments under the Policy or (ii) in respect of any overdue amounts due and interestowing to the Certificate Insurer, shall, in each case, be due and payable, with interest thereon at the Late Payment Rate. The TrusteeSecurities Administrator, the Trust AdministratorTrustee, the Master Servicer and the Servicers Depositor each shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's ’s rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2007-4)
Effect of Payments by the Certificate Insurer; Subrogation. Anything herein to the contrary notwithstanding, any payment with respect to principal of or interest on any of the Class A Certificates which is made with moneys received pursuant to the terms of the Certificate Insurance Policy shall not be considered payment of such the Class A Certificates from the Trust Fund and shall not result in the payment of or the provision for the payment of the principal of or interest on such the Class A Certificates within the meaning of Section 4.015.01. The Depositor, the Master Servicer, each ServicerSeller, the Trustee Servicer and the Trust Administrator Trustee acknowledge, and each Holder by its acceptance of a Class A Certificate agrees, that without the need for any further action on the part of the Certificate Insurer, the Depositor, the ServicersSeller, the Master Servicer, the Trustee or the Trust Administrator (a) Certificate Registrar, to the extent the Certificate Insurer makes payments, directly or indirectly, on account of principal of or interest on any the Class A Certificates to the Holders of such Class A Certificates, (i) the Certificate Insurer will be fully subrogated to the rights of such Holders to receive such principal and interest from the Trust Fund and (bii) the Certificate Insurer shall be paid such principal and interest but only from the sources and in the manner provided herein for the payment of such principal and interest. The TrusteeDepositor, the Trust Administrator, the Master Servicer Seller and the Servicers Servicer shall cooperate in all respects with any reasonable request by the Certificate Insurer for action to preserve or enforce the Certificate Insurer's ’s rights or interests under this Agreement without limiting the rights or affecting the interests of the Holders as otherwise set forth herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Renaissance Mort Accept Corp Home Eq Ln as Bk Cer Se 03 1)