Master Servicing; Termination of Servicer. ▇▇▇▇▇▇, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the Trust Fund, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ under the Purchase Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing Agreement. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ under this Agreement upon the occurrence of an Event of Default under Section 15.01 of the Purchase Agreement (as modified by this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser under the Purchase Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Agreement.
Appears in 7 contracts
Sources: Reconstitution Agreement (Dsla Mortgage Loan Trust 2006-Ar1), Reconstitution Agreement (HarborView 2007-7), Reconstitution Agreement (Dsla Mortgage Loan Trust 2006-Ar1)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2002-4H Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Capital, as owner, under the Purchase Master Servicing Agreement to enforce the obligations of the Servicer under the Master Servicing Agreement and unless the term "Owner" as used in the Master Servicing Agreement in connection with any rights of the Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Master Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Capital under the Purchase Agreement and, Master Servicing Agreement; and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 5 contracts
Sources: Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2002 4h), Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2002 4h), Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2002 4h)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2001-16H Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Capital, as owner, under the Purchase Master Servicing Agreement to enforce the obligations of the Servicer under the Master Servicing Agreement and unless the term "Owner" as used in the Master Servicing Agreement in connection with any rights of the Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Master Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Capital under the Purchase Agreement and, Master Servicing Agreement; and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 5 contracts
Sources: Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 01 16h), Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 01 16h), Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 01 16h)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2000-4 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Capital, as owner, under the Purchase Master Servicing Agreement to enforce the obligations of the Servicer under the Master Servicing Agreement and unless the term "Owner" as used in the Master Servicing Agreement in connection with any rights of the Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Master Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Capital under the Purchase Agreement and, Master Servicing Agreement; and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 5 contracts
Sources: Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2000-4), Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2000-4), Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2000-4)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the Trust FundFund created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller, as owner, under the Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Servicing Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” term "Owner" as used in the Purchase Servicing Agreement in connection with any rights of the Owner shall be deemed to refer to the Trust Fund or, as the context requires, the Master Servicer (including acting in its capacity as agent for the Trust Fund, except with respect to the Servicer's indemnification of the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); providedFund, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes as otherwise specified in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementExhibit A hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement and the provisions of the Servicing Agreement to the extent unmodified or unamended herein upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article 6 of the Purchase Servicing Agreement (such Article 6 and Article 7 of the Servicing Agreement remaining unmodified except for the right to terminate with respect to the Serviced Mortgage Loans being vested in the Master Servicer pursuant to this Agreement and as modified by this Agreementexpressly described in Exhibit A hereto). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Owner under the Purchase Servicing Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, and the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 5 contracts
Sources: Servicing Agreement (Structured Asset Securities Corp), Servicing Agreement (Sturctured Asset Securities Corp Mort Pass Thru Ser 2004-1), Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the Trust Fund, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ under the Purchase Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes purpose in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing Agreement. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ under this Agreement upon the occurrence of an Event of Default under Section 15.01 14.01 of the Purchase Agreement (as modified by this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee or the Trust Fund be required to assume any of the obligations of the Purchaser under the Purchase Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Agreement.
Appears in 4 contracts
Sources: Reconstitution Agreement (Dsla Mortgage Loan Trust 2006-Ar1), Reconstitution Agreement (HarborView 2006-13), Reconstitution Agreement (Dsla Mortgage Loan Trust 2006-Ar1)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2001-8A Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not as Lehman Capital, as owner, under the obligations) as the Purchaser to enforce the obligations of Master Servicing Agr▇▇▇▇▇▇ to enforce the obligations of the Servicer under the Purchase Master Servicing Agreement and unless the term "Owner" as used in the Master Servicing Agreement in connection with any rights of the Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Master Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Lehman Capital under the Purchase Agreement and, in connection Master Servicing Agreement; and ▇▇ ▇▇nnection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 4 contracts
Sources: Servicing Agreement (Structured Asset Securities Corp Mort Pa Th Cert Ser 2001-8a), Servicing Agreement (Structured Asset Securities Corp Mort Pa Th Cert Ser 2001-8a), Servicing Agreement (Structured Asset Securities Corp Mort Pa Th Cert Ser 2001-8a)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2000-4 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Capital, as purchaser, under the Purchase Servicing Agreement to enforce the obligations of the Servicer under the Master Servicing Agreement and unless the term "Purchaser" as used in the Master Servicing Agreement in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer or the Trustee acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Capital under the Purchase Servicing Agreement and, and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 4 contracts
Sources: Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2000-4), Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2000-4), Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2000-4)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2000-3 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Capital, as owner, under the Purchase Master Servicing Agreement to enforce the obligations of the Servicer under the Master Servicing Agreement and unless the term "Owner" as used in the Master Servicing Agreement in connection with any rights of the Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Master Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Capital under the Purchase Agreement and, Master Servicing Agreement; and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 4 contracts
Sources: Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cert Se 2000 3), Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cert Se 2000 3), Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cert Se 2000 3)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and Trustee, which is acting on behalf of the Trust FundTrust, the owner of the Mortgage Loans, shall have the same rights (but not the obligations) as the Purchaser under the Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Servicing Agreement and unless the term "Purchaser" as used in the Servicing Agreement in connection with any rights of the Purchaser shall refer to the Master Servicer, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement or upon an Event of Default under Section 15.01 Default, as provided in Article X of the Purchase Agreement (as modified by this Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser under the Purchase Agreement Servicing Agreement; and, in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Agreement.
Appears in 4 contracts
Sources: Servicing Agreement (Structured Asset Mortgage Investments Inc), Servicing Agreement (Thornburg Mortgage Securities Trust 2003 5), Servicing Agreement (Structured Asset Mortgage Investments Inc)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2002-10H Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Bank, as owner, under the Master Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Master Servicing Agreement and unless the term "Owner" as used in the Master Servicing Agreement in connection with any rights of the Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Master Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Bank under the Purchase Agreement and, Master Servicing Agreement; and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 4 contracts
Sources: Servicing Agreement (Structured Asset Sec Corp Mor Pass Thru Cer Ser 2002-10h), Servicing Agreement (Structured Asset Sec Corp Mor Pass Thru Cer Ser 2002-10h), Servicing Agreement (Structured Asset Sec Corp Mor Pass Thru Cer Ser 2002-10h)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Servicer and the Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the Trust Fund, shall have the same rights (but not the obligations) as the Purchaser right to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Amended CHL Servicing Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the term “Purchaser” as used in the Purchase Amended CHL Servicing Agreement in connection with any rights and obligations of the Purchaser shall be deemed to refer to the Master Servicer (including the Trustee Trust Fund, which rights and obligations the Trust Fund on whose behalf hereby assumes, or, as the context requires, the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available acting in its capacity as agent for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementFund. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 14.01 of the Purchase Agreement Amended CHL Servicing Agreement. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, DLJMC, the Depositor, the Trustee and the Trust Fund against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer or DLJMC which were taken or omitted upon the instruction or direction of the Master Servicer or DLJMC or (ii) the failure of the Trust Fund, DLJMC or the Master Servicer acting in its capacity as modified by this agent for the Trust Fund to perform the obligations of the “Purchaser” under the Amended CHL Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser DLJMC under the Purchase Amended CHL Servicing Agreement and, and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories hereto (except for the Servicer) agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Agreement. For purposes of clarification, all of DLJMC’s obligations under the Amended CHL Servicing Agreement, including any indemnification obligations under the Amended CHL Servicing Agreement, are hereby retained by DLJMC and will continue in full force and effect.
Appears in 4 contracts
Sources: Servicing Agreement, Servicing Agreement (CSAB Mortgage-Backed Trust 2007-1), Servicing Agreement (CSMC Mortgage-Backed Trust 2007-2)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇CMC, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ CMC’s obligation to service the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the Trust Fund, shall have the same rights (but not the obligations) as the Purchaser Owner to enforce the obligations of ▇▇▇▇▇▇ CMC under the Purchase Servicing Agreement and unless otherwise specified in Exhibit One A to this Agreement, references to the “Initial Purchaserinitial Owner” or the “PurchaserOwner” in the Purchase Servicing Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser Owner to pay or reimburse ▇▇▇▇▇▇ CMC shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementFund. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ CMC under this Agreement upon the occurrence of an Event of Default under Section 15.01 9.01 of the Purchase Servicing Agreement (as modified by this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Owner under the Purchase Servicing Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Agreement.
Appears in 3 contracts
Sources: Reconstitution Agreement (HarborView 2007-2), Reconstitution Agreement (Soundview Home Loan Trust 2007-1), Reconstitution Agreement (Harborview 2006-Bu1)
Master Servicing; Termination of Servicer. ▇D▇▇▇▇▇, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇D▇▇▇▇▇’▇ obligation to service the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the Trust Fund, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇D▇▇▇▇▇ under the Purchase Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇D▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing Agreement. The Master Servicer shall be entitled to terminate the rights and obligations of ▇D▇▇▇▇▇ under this Agreement upon the occurrence of an Event of Default under Section 15.01 of the Purchase Agreement (as modified by this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser under the Purchase Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Agreement.
Appears in 3 contracts
Sources: Reconstitution Agreement (Dsla 2006-Ar2), Reconstitution Agreement (Harborview 2006-6), Reconstitution Agreement (Dsla 2007-Ar1)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2004-4 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Brothers Bank under the Purchase Interim Servicing Agreement to enforce the obligations of the Servicer under the Interim Servicing Agreement and unless the term "Purchaser" as used in the Interim Servicing Agreement in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing Agreement. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ under this Agreement upon the occurrence of an Event of Default under Section 15.01 of the Purchase Agreement (as modified by this Agreement)A hereto. Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Brothers Bank under the Purchase Interim Servicing Agreement and, and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 3 contracts
Sources: Servicing Agreement (Structured Asset Securities Corp), Servicing Agreement (Structured Asset Securities Corp), Servicing Agreement (Structured Asset Securities Corp)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the ARC 2002-BC3 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of Bank or ▇▇▇▇▇▇ Capital under the Purchase Agreement SWSA to enforce the obligations of the Servicer under the SWSA and unless the term "Purchaser" as used in the SWSA in connection with any rights of the Purchaser shall refer to the Master Servicer, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate terminate, and at the direction of the NIMS Insurer shall terminate, the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence of an Event of Default under Section 15.01 failure of the Purchase Agreement (as modified by Servicer to perform any of its obligations under this Agreement), as provided in Article X of the SWSA. Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Bank or ▇▇▇▇▇▇ Capital under the Purchase Agreement SWSA; and, in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 3 contracts
Sources: Servicing Agreement (Structured Asset Sec Corp Pass THR Cert Ser 2002 Bc3), Servicing Agreement (Structured Asset Sec Corp Pass THR Cert Ser 2002 Bc3), Servicing Agreement (Structured Asset Sec Corp Pass THR Cert Ser 2002 Bc3)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and pursuant to the Trust FundAgreement, shall have the same rights (but not the obligations) as the Purchaser "Owner" (as defined in the Flow Servicing Agreement) to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement Flow Servicing Agreement. In addition, all of the representations, warranties, covenants, agreements and unless otherwise specified in Exhibit One to this Agreement, references indemnities made by the Servicer (or by any successor servicer) to the “Initial Purchaser” or "Owner" under the “Purchaser” in the Purchase Flow Servicing Agreement shall be are hereby deemed to refer made to the Master Servicer (including the Trustee and the Trust Fund on whose behalf as if the Master Servicer is acting)were the "Owner" and all such representations, warranties, covenants, agreements and indemnities shall inure to the benefit of the Master Servicer; provided, however, that notwithstanding the foregoing, the Master Servicer shall have (i) no right or interest in the "Reconstituted Termination Fee" referred to in Section 7.06 of the Flow Servicing or the "Additional Remittance" referred to in Section 7.07 of the Flow Servicing Agreement and (ii) no right to terminate the Servicer, except as expressly set forth herein. Nothing contained herein is intended to result in the creation or assumption by the Master Servicer of any obligation of the Purchaser to pay "Owner" or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in any Person under the Custodial Account Flow Servicing Agreement or the Trust Fund pursuant to the Pooling and Servicing Agreementany other agreement or instrument relating thereto except as specifically set forth herein. The Master Servicer shall be entitled to terminate the rights and obligations of the Servicer under this Agreement upon the failure of the Servicer to perform any of its obligations under this Agreement, as provided in Article IX of the Flow Servicing Agreement. In addition, in the event that ▇▇▇▇▇▇ Capital transfers the servicing rights in respect of the Serviced Mortgage Loans to one or more successor servicers, the rights and obligations of the Servicer under this Agreement shall terminate, at the sole option of ▇▇▇▇▇▇ Capital, without cause, upon the occurrence of an Event of Default under Section 15.01 of the Purchase Agreement (as modified by this Agreement). Notwithstanding anything herein thirty days written notice to the contraryServicer, in no event and each successor servicer shall succeed to the Master Servicer or the Trustee be required to assume any of the rights and obligations of the Purchaser Servicer under this Agreement as of such date. Upon such termination the Purchase Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master terminated Servicer shall not be entitled to all the rightsReconstituted Servicing Fee or any portion thereof, protections and limitations or, except as provided in the Flow Servicing Agreement, to any other amounts in respect of liability afforded the Serviced Mortgage Loans. The Servicer agrees that, notwithstanding anything to the Master Servicer under contrary in the Pooling and Flow Servicing Agreement, ▇▇▇▇▇▇ Capital is the sole owner of the servicing rights relating to the Serviced Mortgaged Loans, and the Servicer shall have no right to transfer the servicing thereof.
Appears in 3 contracts
Sources: Servicing Agreement (Structured Asset Securities Corp), Servicing Agreement (Structured Asset Securities Corp), Servicing Agreement (Structured Asset Sec Corp Mort Pass Thro Cert Ser 1999 Als2)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2004-10 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not as Lehman Brothers Bank under the obligations) as the Purchaser Interim Servicing Agreement to enforce the obligations of enfor▇▇▇▇ ▇▇▇ obligations of the Servicer under the Purchase Interim Servicing Agreement and unless the term "Purchaser" as used in the Interim Servicing Agreement in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing Agreement. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ under this Agreement upon the occurrence of an Event of Default under Section 15.01 of the Purchase Agreement (as modified by this Agreement)A hereto. Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Lehman Brothers Bank under the Purchase Interim Servicing Agreement and, and in connection c▇▇▇▇▇▇ion with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 2 contracts
Sources: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust), Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2000-3 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Capital, as purchaser, under the Purchase Servicing Agreement to enforce the obligations of the Servicer under the Master Servicing Agreement and unless the term "Purchaser" as used in the Master Servicing Agreement in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer or the Trustee acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Capital under the Purchase Servicing Agreement and, and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 2 contracts
Sources: Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cert Se 2000 3), Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cert Se 2000 3)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the trust fund created pursuant to the Pooling Agreement (the “Trust Fund”), shall have the same rights (but not as DLJMC under the obligations) as the Purchaser Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Servicing Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the term “Purchaser” as used in the Purchase Servicing Agreement in connection with any rights of the Purchaser shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf or, as the context requires, the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available acting in its capacity as agent for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementFund. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 8.01 of the Purchase Agreement (as modified by this Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser DLJMC under the Purchase Servicing Agreement and, and in connection with the performance of the Master Servicer’s duties hereunder, the . The parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling Agreement. For purposes of clarification, all of DLJMC’s obligations under the Servicing Agreement will continue in full force and effect, including but not limited to the termination fees, costs and expenses to which the Servicer is entitled in connection with a termination without cause as set forth in Section 9.02 of the Servicing Agreement.
Appears in 2 contracts
Sources: Servicing Agreement (CSMC Trust 2007-4), Servicing Agreement (CSMC Mortgage Backed Trust Series 2007-1)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the Trust FundFund created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller, as owner, under the Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Servicing Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the term “Initial PurchaserOwner” or the “Purchaser” as used in the Purchase Servicing Agreement in connection with any rights of the Owner shall be deemed to refer to the Trust Fund or, as the context requires, the Master Servicer (including acting in its capacity as agent for the Trust Fund, except with respect to the Servicer’s indemnification of the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); providedFund, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes as otherwise specified in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementExhibit A hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement and the provisions of the Servicing Agreement to the extent unmodified or unamended herein upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article 6 of the Purchase Servicing Agreement (such Article 6 and Article 7 of the Servicing Agreement remaining unmodified except for the right to terminate with respect to the Serviced Mortgage Loans being vested in the Master Servicer pursuant to this Agreement and as modified by this Agreementexpressly described in Exhibit A hereto). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Owner under the Purchase Servicing Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, and the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 2 contracts
Sources: Servicing Agreement (Lehman Mortgage Trust 2007-3), Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-7)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and Trustee, which is acting on behalf of the Trust FundTrust, the owner of the Mortgage Loans, shall have the same rights (but not the obligations) as the Purchaser under the Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Servicing Agreement and unless the term “Purchaser” as used in the Servicing Agreement in connection with any rights of the Purchaser shall refer to the Master Servicer, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement or upon an Event of Default under Section 15.01 Default, as provided in Article X of the Purchase Agreement (as modified by this Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser under the Purchase Agreement Servicing Agreement; and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 2 contracts
Sources: Servicing Agreement (Thornburg Mortgage Securities Trust 2005-4), Servicing Agreement (Thornburg Mortgage Securities Trust 2005-3)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this AgreementAssignment. The Master Servicer, acting on behalf of the Trustee and Assignee, the Trust Fundowner of the Mortgage Loans, shall have the same rights (but not the obligations) as the Purchaser under the Purchase Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial term "Purchaser” or the “Purchaser” " as used in the Purchase Agreement in connection with any rights of the Purchaser shall refer to the Master Servicer, acting on behalf of the Assignee, except as otherwise specified in Exhibits A and B, hereto, and provided that any reference in the Purchase Agreement to "the Purchaser's expense" (or words to like effect) shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation be expenses of the Purchaser Assignee and, if it relates to pay or reimburse ▇▇▇▇▇▇ reimbursement of expenses incurred by the Servicer shall be satisfied solely recoverable by the Servicer from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementCollection Account. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement Assignment upon the occurrence of an Event of Default under Default, as provided in Section 15.01 10.01 of the Purchase Agreement (as modified by this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser under the Purchase Agreement andor the Additional Collateral Agreement. The Trustee, acting on behalf of the Assignee, the owner of the Mortgage Loans, shall have the same rights as the Purchaser under the Additional Collateral Agreement to enforce the obligations of the Servicer under the Additional Collateral Agreement and the term "Purchaser" as used in the Additional Collateral Agreement in connection with the performance any rights of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer Purchaser shall be entitled to all the rights, protections and limitations of liability afforded refer to the Master Servicer under Trustee, acting on behalf of the Pooling and Servicing AgreementAssignee.
Appears in 2 contracts
Sources: Assignment, Assumption and Recognition Agreement (Thornburg Mortgage Securities Trust 2003 5), Assignment Agreement (Structured Asset Mortgage Investments Inc)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2001-21A Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not as Lehman Brothers Bank, FSB as purchaser under the obligations) as the Purchaser to enforce Servicing Agreement ▇▇ ▇▇▇orce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Servicing Agreement and unless the term "Purchaser" as used in the Servicing Agreement in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article X of the Purchase Agreement (as modified by this Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Lehman Brothers Bank, FSB under the Purchase Agreement and, Servicing Agreement; and in connection conne▇▇▇▇▇ with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 2 contracts
Sources: Servicing Agreement (Structured Asset Sec Mort Pass THR Cert Series 2001-21a), Servicing Agreement (Structured Asset Sec Mort Pass THR Cert Series 2001-21a)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2003-12XS Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Brothers Bank, FSB, as purchaser, under the Purchase Agreement SWSA to enforce the obligations of the Servicer under the SWSA, and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article X of the Purchase Agreement (as modified by this Agreement)SWSA. Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Brothers Bank, FSB under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Ce Se 2003-12xs)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2006-BC5 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Servicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except the Company) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2006-Bc5)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the LMT 2007-7 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the FPWSA as to the Mortgage Loans to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement FPWSA and unless the term “Purchaser” as used in the FPWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article X of the Purchase Agreement (as modified by this Agreement)FPWSA. Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, FPWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2002-10H Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not as Lehman Capital, as owner, under the obligations) as the Purchaser Master Servicing Agreement to enforce the obligations of ▇en▇▇▇▇▇ the obligations of the Servicer under the Purchase Master Servicing Agreement and unless the term "Owner" as used in the Master Servicing Agreement in connection with any rights of the Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Master Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Lehman Capital under the Purchase Agreement and, Master Servicing Agreement; and in connection with connecti▇▇ ▇▇▇h the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Sec Corp Mor Pass Thru Cer Ser 2002-10h)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇CMC, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ CMC’s obligation to service the Subserviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the Trust Fund, shall have the same rights (but not the obligations) as the Purchaser Owner to enforce the obligations of ▇▇▇▇▇▇ CMC under the Purchase Servicing Agreement and unless otherwise specified in Exhibit One A to this Agreement, references to the “Initial Purchaserinitial Owner” or the “PurchaserOwner” in the Purchase Servicing Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser Owner to pay or reimburse ▇▇▇▇▇▇ CMC shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant Fund, except as they may pertain to the Pooling representations and warranties of the Servicing AgreementRights Purchase Agreement executed January 15, 2006 between the Owner and the Servicer (which shall remain the obligations of the GCFP). The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ CMC under this Agreement upon the occurrence of an Event of Default under Section 15.01 9.01 of the Purchase Servicing Agreement (as modified by this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Owner under the Purchase Servicing Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Agreement.
Appears in 1 contract
Master Servicing; Termination of Servicer. ▇D▇▇▇▇▇, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇D▇▇▇▇▇’▇ obligation to service the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the Trust Fund, shall have the same rights (but not the obligations) as the Purchaser Owner to enforce the obligations of ▇D▇▇▇▇▇ under the Purchase Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser Owner to pay or reimburse ▇D▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementFund. The Master Servicer shall be entitled to terminate the rights and obligations of ▇D▇▇▇▇▇ under this Agreement upon the occurrence of an Event of Default under Section 15.01 14.01 of the Purchase Agreement (as modified by this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Owner under the Purchase Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Agreement.
Appears in 1 contract
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2006-4 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Sevicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except the Company) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Reconstituted Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-4)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the CENDANT 2001-6 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Capital, as purchaser, under the Purchase Servicing Agreement to enforce the obligations of the Servicer under the Servicing Agreement and unless the term "Purchaser" as used in the Servicing Agreement in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article X of the Purchase Agreement (as modified by this Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Capital under the Purchase Agreement and, Servicing Agreement; and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Cendant Mortgage Corp Mort Pass Through Cert Series 2001-6)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and pursuant to the Trust FundAgreement, shall have the same rights (but not the obligations) as the Purchaser "Owner" (as defined in the Flow Servicing Agreement) to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Flow Servicing Agreement. The Master Servicer shall be entitled to terminate the rights and obligations of the Servicer under this Agreement upon the failure of the Servicer to perform any of its obligations under this Agreement, as provided in Article IX of the Flow Servicing Agreement. In addition, in the event that ▇▇▇▇▇▇ Capital transfers the servicing rights in respect of the Serviced Mortgage Loans to one or more successor servicers, the rights and obligations of the Servicer under this Agreement shall terminate, at the sole option of ▇▇▇▇▇▇ Capital, without cause, upon the occurrence of an Event of Default under Section 15.01 of the Purchase Agreement (as modified by this Agreement). Notwithstanding anything herein thirty days written notice to the contraryServicer, in no event and each successor servicer shall succeed to the Master Servicer or the Trustee be required to assume any of the rights and obligations of the Purchaser Servicer under this Agreement as of such date. Upon such termination the Purchase Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master terminated Servicer shall not be entitled to all the rightsServicing Fee or any portion thereof, protections and limitations or, except as provided in the Flow Servicing Agreement, to any other amounts in respect of liability afforded the Serviced Mortgage Loans. The Servicer agrees that, notwithstanding anything to the Master Servicer under contrary in the Pooling and Flow Servicing Agreement, ▇▇▇▇▇▇ Capital is the sole owner of the servicing rights relating to the Serviced Mortgaged Loans, and the Servicer shall have no right to transfer the servicing thereof.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 1999-Bc1)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2001-8A Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not as Lehman Capital, as purchaser, under the obligations) as the Purchaser to Servicing Agreem▇▇▇ ▇▇ enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Servicing Agreement and unless the term "Purchaser" as used in the Servicing Agreement in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer or the Trustee acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Lehman Capital under the Purchase Servicing Agreement and, and in connection conn▇▇▇▇▇▇ with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Securities Corp Mort Pa Th Cert Ser 2001-8a)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2002-4H Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the Flow Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Flow Agreement and unless the term "Initial Owner" or "Owner" as used in the Flow Agreement in connection with any rights of the Initial Owner or Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Flow Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Flow Agreement and, and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2002 4h)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2007-1 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Sevicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except the Company) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-1)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2003-34A Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not as Lehman Brothers Bank under the obligations) as the Purchaser Interim Servicing Agreement to enforce the obligations of ▇▇▇enforc▇ ▇▇▇ obligations of the Servicer under the Purchase Interim Servicing Agreement and unless the term "Purchaser" as used in the Interim Servicing Agreement in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing Agreement. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ under this Agreement upon the occurrence of an Event of Default under Section 15.01 of the Purchase Agreement (as modified by this Agreement)A hereto. Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Lehman Brothers Bank under the Purchase Interim Servicing Agreement and, and in connection co▇▇▇▇▇▇on with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-34a)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the trust fund created pursuant to the Trust Agreement (the "Trust Fund"), shall have the same rights as each Seller (but not with respect to its related Mortgage Loans) under the obligations) as the Purchaser Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Servicing Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” term "Owner" as used in the Purchase Servicing Agreement in connection with any rights of the Owner shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes except as otherwise specified in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementExhibit A hereto. The Master Servicer shall be entitled to terminate terminate, and at the direction of the NIMS Insurer shall terminate, the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of an the Servicer to perform any of its obligations under this Agreement, which failure results in a Servicer Event of Default under Section 15.01 Default, as provided in Article IX of the Purchase Agreement (as modified by this Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser either Seller (with respect to its related Mortgage Loans) hereunder or under the Purchase Agreement andServicing Agreement, and in connection with the performance of the Master Servicer’s 's duties hereunder, hereunder the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Residential Flow Servicing Agreement (Structured Ass Sec Cor a R Col Tr MRT Ps THR CRT Ser 01-Bc6)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇CMC, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ CMC’s obligation to service the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the Trust Fund, shall have the same rights (but not the obligations) as the Purchaser Owner to enforce the obligations of ▇▇▇▇▇▇ CMC under the Purchase Servicing Agreement and unless otherwise specified in Exhibit One A to this Agreement, references to the “Initial PurchaserOwner” or the “PurchaserOwner” in the Purchase Servicing Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser Owner to pay or reimburse ▇▇▇▇▇▇ CMC shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementFund. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ CMC under this Agreement upon the occurrence of an Event of Default under Section 15.01 9.01 of the Purchase Servicing Agreement (as modified by this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Owner under the Purchase Servicing Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Agreement.
Appears in 1 contract
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the LMT 2006-4 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Sevicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement SWSA, and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories (except the Company) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (LMT 2006-4)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any ---------------- successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and pursuant to the Trust FundAgreement, shall have the same rights (but not the obligations) as the Purchaser "Owner" (as defined in the Flow Servicing Agreement) to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Flow Servicing Agreement. The Master Servicer shall be entitled to terminate the rights and obligations of the Servicer under this Agreement upon the failure of the Servicer to perform any of its obligations under this Agreement, as provided in Article IX of the Flow Servicing Agreement. In addition, in the event that ▇▇▇▇▇▇ Capital transfers the servicing rights in respect of the Serviced Mortgage Loans to one or more successor servicers, the rights and obligations of the Servicer under this Agreement shall terminate, at the sole option of ▇▇▇▇▇▇ Capital, without cause, upon the occurrence of an Event of Default under Section 15.01 of the Purchase Agreement (as modified by this Agreement). Notwithstanding anything herein thirty days written notice to the contraryServicer, in no event and each successor servicer shall succeed to the Master Servicer or the Trustee be required to assume any of the rights and obligations of the Purchaser Servicer under this Agreement as of such date. Upon such termination the Purchase Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master terminated Servicer shall not be entitled to all the rightsServicing Fee or any portion thereof, protections and limitations or, except as provided in the Flow Servicing Agreement, to any other amounts in respect of liability afforded the Serviced Mortgage Loans. The Servicer agrees that, notwithstanding anything to the Master Servicer under contrary in the Pooling and Flow Servicing Agreement, ▇▇▇▇▇▇ Capital is the sole owner of the servicing rights relating to the Serviced Mortgaged Loans, and the Servicer shall have no right to transfer the servicing thereof.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Securities Corp)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2006-10 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Sevicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except the Company) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-10)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the LXS 2007-2N Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Servicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except Countrywide and the Servicer) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Lehman XS Trust Series 2007-2n)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2004-22 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Brothers Bank under the Purchase Master Interim Servicing Agreement to enforce the obligations of the Servicer under the Master Interim Servicing Agreement and unless the term "Purchaser" as used in the Master Interim Servicing Agreement in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article XI of the Purchase Agreement (as modified by this Master Interim Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Brothers Bank under the Purchase Master Interim Servicing Agreement and, and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Indenture Trustee and the Trust FundIssuer, shall have the same rights (but not the obligations) as the Purchaser Seller as purchaser under the Sale and Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase such Sale and Servicing Agreement and unless the term “Purchaser” as used in the Sale and Servicing Agreement in connection with any rights of the Seller shall refer to the Issuer or, as the context requires, the Master Servicer acting in its capacity as agent for the Issuer, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement (as modified by this Sale and Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, Sale and Servicing Agreement; and in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling Transfer and Servicing Agreement.
Appears in 1 contract
Sources: Servicing Agreement (SASCO Mortgage Loan Trust 2004-Gel3)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and pursuant to the Trust FundAgreement, shall have the same rights (but not the obligations) as the Purchaser "Owner" (as defined in the Interim Servicing Agreement) to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Interim Servicing Agreement. The Master Servicer shall be entitled to terminate the rights and obligations of the Servicer under this Agreement upon the failure of the Servicer to perform any of its obligations under this Agreement, as provided in Sections 6 and 7 of the Interim Servicing Agreement. In addition, in the event that ▇▇▇▇▇▇ Capital transfers the servicing rights in respect of the Serviced Mortgage Loans to one or more successor servicers, the rights and obligations of the Servicer under this Agreement shall terminate, at the sole option of ▇▇▇▇▇▇ Capital, without cause, upon sixty days written notice to the occurrence of an Event of Default under Section 15.01 Servicer, and each successor servicer shall succeed to the rights and obligations of the Purchase Servicer under this Agreement as of such date. Upon such termination the terminated Servicer shall not be entitled to the Servicing Fee or any portion thereof, or, except as provided in Section 7 of the Interim Servicing Agreement, to any other amounts in respect of the Serviced Mortgage Loans. Upon prior written notice, the Directing Holder shall have the exclusive right to terminate the rights and obligations of the Servicer under this Agreement without cause and without payment of any termination fee in connection with such termination; provided, that (as modified by this Agreement)i) any successor Servicer shall be appointed in the manner provided below and pursuant to Section 11.14 of the Trust Agreement and (ii) a letter is provided to the Trustee from each Rating Agency to the effect that such termination and appointment will not result in the qualification, reduction, or withdrawal of the ratings applicable to the Certificates. Notwithstanding anything herein to the contrarycontrary in the Interim Servicing Agreement, in no event shall as amended and reconstituted pursuant to this Agreement, the Directing Holder shall, within 30 days of the receipt by the Servicer of a copy of any termination notice delivered by the Directing Holder, notify the Trustee and the Master Servicer or the Trustee be required to assume any in writing of the obligations Directing Holder's nominee as successor Servicer in accordance with Section 11.14 of the Purchaser under the Purchase Agreement andTrust Agreement, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that which nominee shall be appointed as Servicer by the Master Servicer shall be entitled to all the rights, protections and limitations of liability afforded to unless the Master Servicer under reasonably objects to such nominee within 10 days following receipt of such notice. If the Pooling and Master Servicer objects to such nominee, then the Master Servicer shall, within such 10-day period, appoint a successor Servicer, which successor shall be reasonably acceptable to the Directing Holder. In addition to any other requirements or qualifications set forth herein, any successor Servicer shall be a member in good standing of the MERS system. The Servicer agrees that, notwithstanding anything to the contrary in the Interim Servicing Agreement, ▇▇▇▇▇▇ Capital is the sole owner of the servicing rights relating to the Serviced Mortgaged Loans, and the Servicer shall have no right to transfer the servicing thereof.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cer Se 1999-Bc2)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2005-WF4 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the 2005-M09 SWSA to enforce the obligations of the Servicer under the ▇▇▇▇-▇▇▇ under ▇▇▇▇ and the Purchase Agreement and unless term “Purchaser” as used in the 2005-M09 SWSA in connection with any rights of the Purchaser shall refer to the Master Servicer, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate terminate, and at the direction of the NIMS Insurer shall terminate, the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence of an Event of Default under Section 15.01 failure of the Purchase Agreement (as modified by Servicer to perform any of its obligations under this Agreement), as provided in Article X (Default) of the ▇▇▇▇-▇▇▇ ▇▇▇▇. Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement ▇▇▇▇-▇▇▇ ▇▇▇▇; and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Securities Corp 2005-Wf4)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the LXS 2006-12N Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Servicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except Countrywide and the Servicer) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Lehman XS Trust Series 2006-12n)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2002-10H Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not as Lehman Capital, as owner, under the obligations) as the Purchaser Master Servicing Agreement to enforce the obligations of ▇▇enf▇▇▇▇ ▇he obligations of the Servicer under the Purchase Master Servicing Agreement and unless the term "Owner" as used in the Master Servicing Agreement in connection with any rights of the Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Master Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Lehman Capital under the Purchase Agreement and, Master Servicing Agreement; and in connection with connectio▇ ▇▇▇▇ the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Sec Corp Mor Pass Thru Cer Ser 2002-10h)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2007-9 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Sevicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except the Servicer and Countrywide) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-9)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2004-13 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not as Lehman Brothers Bank under the obligations) as the Purchaser Interim Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ ▇tions of the Servicer under the Purchase Interim Servicing Agreement and unless the term "Purchaser" as used in the Interim Servicing Agreement in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing Agreement. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ under this Agreement upon the occurrence of an Event of Default under Section 15.01 of the Purchase Agreement (as modified by this Agreement)A hereto. Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Lehman Brothers Bank under the Purchase Interim Servicing Agreement and, and in connection with connecti▇▇ ▇▇▇h the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the trust fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not as Lehman Capital under the obligations) as the Purchaser Flow Servicing Agreement to enforce the obligations of oblig▇▇▇▇▇▇ of the Servicer under the Purchase Flow Servicing Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” term "Owner" as used in the Purchase Flow Servicing Agreement in connection with any rights of the Owner shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes except as otherwise specified in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementExhibit A hereto. The Master Servicer Servicer, with the prior consent of Freddie Mac, shall be entitled to terminate the rights and obligations of ▇▇▇▇ ▇▇▇ Servicer under this Agreement upon the occurrence failure of an the Servicer to perform any of its obligations under this Agreement, which failure results in a Servicer Event of Default under Section 15.01 Default, as provided in Article IX of the Purchase Agreement (as modified by this Flow Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser under the Purchase Agreement and, Lehman Capital hereunder; and in connection with the performance of the Master th▇ ▇▇▇▇er Servicer’s 's duties hereunder, hereunder the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Amortizing Resi Collateral Tr Mor Pas Thru Cert Ser 2000-Bc3)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SAIL 2006-3 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Servicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except the Company) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Sail 2006-3)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2000-3 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Capital, as owner, under the Purchase Master Servicing Agreement to enforce the obligations of the Servicer under the Master Servicing Agreement and unless the term "Owner" as used in the Master Servicing Agreement in connection with any rights of the Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Master Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Capital under the Purchase Agreement and, Master Servicing Agreement; and in connection with the performance of the Master Servicer’s 's duties hereunder, hereunder the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cert Se 2000 3)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2004-18 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not as Lehman Brothers Bank under the obligations) as the Purchaser Interim Servicing Agreement to enforce the obligations of enfor▇▇▇▇ ▇▇▇ obligations of the Servicer under the Purchase Interim Servicing Agreement and unless the term "Purchaser" as used in the Interim Servicing Agreement in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing Agreement. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ under this Agreement upon the occurrence of an Event of Default under Section 15.01 of the Purchase Agreement (as modified by this Agreement)A hereto. Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Lehman Brothers Bank under the Purchase Interim Servicing Agreement and, and in connection c▇▇▇▇▇▇ion with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee Bond Issuer and the Trust FundBond Trustee pursuant to the Master Servicing Agreement, shall have the same rights (but not the obligations) as the Purchaser "Owner" (as defined in the Flow Servicing Agreement) to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Flow Servicing Agreement. The Master Servicer shall be entitled to terminate the rights and obligations of the Servicer under this Agreement upon the failure of the Servicer to perform any of its obligations under this Agreement, as provided in Article IX of the Flow Servicing Agreement. In addition, in the event that ▇▇▇▇▇▇ Capital and AmREIT agree to transfer the servicing rights in respect of the Serviced Mortgage Loans to one or more successor servicers, the rights and obligations of the Servicer under this Agreement shall terminate without cause, upon the occurrence of an Event of Default under Section 15.01 of the Purchase Agreement (as modified by this Agreement). Notwithstanding anything herein thirty days written notice to the contraryServicer, in no event and each successor servicer shall succeed to the Master Servicer or the Trustee be required to assume any of the rights and obligations of the Purchaser Servicer under this Agreement as of such date. Upon such termination the Purchase Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master terminated Servicer shall not be entitled to all the rightsServicing Fee or any portion thereof, protections and limitations or, except as provided in the Flow Servicing Agreement, to any other amounts in respect of liability afforded the Serviced Mortgage Loans. The Servicer agrees that, notwithstanding anything to the Master Servicer under contrary in the Pooling and Flow Servicing Agreement, ▇▇▇▇▇▇ Capital is the sole owner of the servicing rights relating to the Serviced Mortgaged Loans (other than the Additional Mortgage Loans) and AmREIT is the sole owner of the servicing rights relating to Additional Mortgage Loans, and that the Servicer shall have no right to transfer the servicing thereof.
Appears in 1 contract
Sources: Servicing Agreement (American Residential Eagle Inc)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this AgreementAssignment. The Master Servicer, acting on behalf of the Trustee and Assignee, the Trust Fundowner of the Mortgage Loans, shall have the same rights (but not the obligations) as the Purchaser under the Purchase Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the term “Purchaser” as used in the Purchase Agreement in connection with any rights of the Purchaser shall refer to the Master Servicer, acting on behalf of the Assignee, except as otherwise specified in Exhibits A and B, hereto, and provided that any reference in the Purchase Agreement to “the Purchaser’s expense” (or words to like effect) shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation be expenses of the Purchaser Assignee and, if it relates to pay or reimburse ▇▇▇▇▇▇ reimbursement of expenses incurred by the Servicer shall be satisfied solely recoverable by the Servicer from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementCollection Account. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement Assignment upon the occurrence of an Event of Default under Default, as provided in Section 15.01 10.01 of the Purchase Agreement (as modified by this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser under the Purchase Agreement andor the Additional Collateral Agreement. The Indenture Trustee, acting on behalf of the Assignee, the owner of the Mortgage Loans, shall have the same rights as the Purchaser under the Additional Collateral Agreement to enforce the obligations of the Servicer under the Additional Collateral Agreement and the term “Purchaser” as used in the Additional Collateral Agreement in connection with the performance any rights of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer Purchaser shall be entitled to all the rights, protections and limitations of liability afforded refer to the Master Servicer under Indenture Trustee, acting on behalf of the Pooling and Servicing AgreementAssignee.
Appears in 1 contract
Master Servicing; Termination of Servicer. ▇D▇▇▇▇▇, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇D▇▇▇▇▇’▇ obligation to service the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the Trust Fund, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇D▇▇▇▇▇ under the Purchase Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇D▇▇▇▇▇ shall be satisfied solely from funds available for such purposes purpose in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing Agreement. The Master Servicer shall be entitled to terminate the rights and obligations of ▇D▇▇▇▇▇ under this Agreement upon the occurrence of an Event of Default under Section 15.01 14.01 of the Purchase Agreement (as modified by this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee or the Trust Fund be required to assume any of the obligations of the Purchaser under the Purchase Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Agreement.
Appears in 1 contract
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2002-4H Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not as Lehman Capital, as owner, under the obligations) as the Purchaser Master Servicing Agreement to enforce the obligations of e▇▇▇▇▇▇ the obligations of the Servicer under the Purchase Master Servicing Agreement and unless the term "Owner" as used in the Master Servicing Agreement in connection with any rights of the Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Master Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Lehman Capital under the Purchase Agreement and, Master Servicing Agreement; and in connection with connect▇▇▇ ▇▇th the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2002 4h)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the LXS 2007-15N Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Bank under the FPWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement FPWSA and unless the term “Purchaser” as used in the FPWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 28(a) of the Purchase Agreement (as modified by this Agreement)FPWSA. Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Bank under the Purchase Agreement and, FPWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Lehman XS Trust Series 2007-15n)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the Trust FundFund created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller, as owner, under the Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Servicing Agreement and unless the term "Owner" as used in the Servicing Agreement in connection with any rights of the Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement and the provisions of the Servicing Agreement to the extent unmodified or unamended herein upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article 6 of the Purchase Servicing Agreement (such Article 6 and Article 7 remaining unmodified except for the right to terminate with respect to the Serviced Mortgage Loans being vested in the Master Servicer pursuant to this Agreement and as modified by this Agreementexpressly described in Exhibit A hereto). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Owner under the Purchase Servicing Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, and the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Cer Se 2002-1a)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇, including any successor servicer hereunder, The Servicer shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and Trustee, which is acting on behalf of the Trust FundTrust, the owner of the Mortgage Loans, shall have the same rights (but not the obligations) as the Purchaser under the Sale and Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling Sale and Servicing Agreement. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence of an Event of Default under Default, as provided in Section 15.01 12.01 of the Purchase Agreement (as modified by this Sale and Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser under the Purchase Sale and Servicing Agreement; it being understood that the Trust shall remain primarily liable for all obligations of “Purchaser” pursuant to the Sale and Servicing Agreement and, in connection with and this Agreement. The parties to the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto Trust Agreement agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling Trust Agreement. All parties herein acknowledge and agree that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trustee, the Trust and the Seller against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer or Trustee, as applicable, or (ii) the failure of the Master Servicer or the Trustee, as applicable, to perform the obligations of the Purchaser with respect to the Sale and Servicing Agreement and this Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Thornburg Mortgage Securities Trust 2005-4)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2007-3 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Sevicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except the Company) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-3)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this AgreementAssignment. The Master Servicer, acting on behalf of the Trustee and Assignee, the Trust Fundowner of the Mortgage Loans, shall have the same rights (but not the obligations) as the Purchaser under the Purchase Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement and unless the term "Purchaser" as used in the Purchase Agreement in connection with any rights of the Purchaser shall refer to the Master Servicer, acting on behalf of the Assignee, except as otherwise specified in Exhibit One to this AgreementA hereto, references to the “Initial Purchaser” or the “Purchaser” and provided that any reference in the Purchase Agreement to "the Purchaser's expense" (or words to like effect) shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation be expenses of the Purchaser Assignee and, if it relates to pay or reimburse ▇▇▇▇▇▇ reimbursement of expenses incurred by the Servicer shall be satisfied solely recoverable by the Servicer from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementCollection Account. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement Assignment upon the occurrence of an Event of Default under Default, as provided in Section 15.01 10.01 of the Purchase Agreement (as modified by this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser under the Purchase Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Agreement.
Appears in 1 contract
Sources: Assignment, Assumption and Recognition Agreement (Thornburg Mortgage Securities Trust 2004-4)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and pursuant to the Trust FundAgreement, shall have the same rights (but not the obligations) as the Purchaser "Owner" (as defined in the Flow Servicing Agreement) to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Flow Servicing Agreement. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence of an Event of Default under Section 15.01 failure of the Purchase Agreement (as modified by Servicer to perform any of its obligations under this Agreement), as provided in Article IX of the Flow Servicing Agreement. Notwithstanding anything herein to the contraryIn addition, in no the event shall that Lehman Capital transfers the Master Servicer or the Trustee be required to assume any servicing rights in respect of the Serv▇▇▇▇ Mortgage Loans to one or more successor servicers, the rights and obligations of the Purchaser Servicer under this Agreement shall terminate, at the Purchase Agreement andsole option of Lehman Capital, in connection with without cause, upon thirty days written notice to th▇ ▇▇▇▇icer, and each successor servicer shall succeed to the performance rights and obligations of the Master Servicer’s duties hereunder, Servicer under this Agreement as of such date. Upon such termination the parties and other signatories hereto agree that the Master terminated Servicer shall not be entitled to all the rightsServicing Fee or any portion thereof, protections and limitations or, except as provided in the Flow Servicing Agreement, to any other amounts in respect of liability afforded the Serviced Mortgage Loans. The Servicer agrees that, notwithstanding anything to the Master Servicer under contrary in the Pooling and Flow Servicing Agreement, Lehman Capital is the sole owner of the servicing rights relatin▇ ▇▇ ▇he Serviced Mortgaged Loans, and the Servicer shall have no right to transfer the servicing thereof.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Securities Corp)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2004-4 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Servicing Agreement and unless the term "Initial Owner" or "Owner" as used in the Servicing Agreement in connection with any rights of the Initial Owner or Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Servicing Agreement and, and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Securities Corp)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2006-BC4 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Servicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except the Company) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Sasco 2006-Bc4)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the LMT 2006-3 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Sevicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement SWSA, and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories (except the Company) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2004-18 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Brothers Bank under the Purchase Master Interim Servicing Agreement to enforce the obligations of the Servicer under the Master Interim Servicing Agreement and unless the term "Purchaser" as used in the Master Interim Servicing Agreement in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article XI of the Purchase Agreement (as modified by this Master Interim Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Brothers Bank under the Purchase Master Interim Servicing Agreement and, and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including ----------------------------------------- any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and pursuant to the Trust FundAgreement, shall have the same rights (but not the obligations) as the Purchaser "Owner" (as defined in the Flow Servicing Agreement) to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Flow Servicing Agreement. The Master Servicer shall be entitled to terminate the rights and obligations of the Servicer under this Agreement upon the failure of the Servicer to perform any of its obligations under this Agreement, as provided in Article IX of the Flow Servicing Agreement. In addition, in the event that ▇▇▇▇▇▇ Capital transfers the servicing rights in respect of the Serviced Mortgaged Loans to one or more successor servicers, the rights and obligations of the Servicer under this Agreement shall terminate, at the sole option of ▇▇▇▇▇▇ Capital, without cause, upon the occurrence of an Event of Default under Section 15.01 of the Purchase Agreement (as modified by this Agreement). Notwithstanding anything herein thirty days written notice to the contraryServicer, in no event and each successor servicer shall succeed to the Master Servicer or the Trustee be required to assume any of the rights and obligations of the Purchaser Servicer under this Agreement as of such date. Upon such termination the Purchase Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master terminated Servicer shall not be entitled to all the rightsServicing Fee or any portion thereof, protections and limitations or, except as provided in the Flow Servicing Agreement, to any other amounts in respect of liability afforded the Serviced Mortgage Loans. The Servicer agrees that, notwithstanding anything to the Master Servicer under contrary in the Pooling and Flow Servicing Agreement, ▇▇▇▇▇▇ Capital is the sole owner of the servicing rights relating to the Serviced Mortgaged Loans, and the Servicer shall have no right to transfer the servicing thereof.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Securities Corp)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the LXS 2007-15N Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Servicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except Countrywide and the Servicer) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Lehman XS Trust Series 2007-15n)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated shall, pursuant to enforce ▇▇▇▇▇▇’▇ obligation to service the terms of the Trust Agreement, ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and pursuant to the Trust FundAgreement, shall have the same rights (but not the obligations) as the Purchaser "Purchaser" (as defined in the Purchase, Warranties and Servicing Agreement) to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement Purchase, Warranties and unless otherwise specified in Exhibit One to this Servicing Agreement. In addition, references all of the representations, warranties, covenants, agreements and indemnities made by the Servicer (or by any successor servicer) to the “Initial "Purchaser” or " under the “Purchaser” in the Purchase Purchase, Warranties and Servicing Agreement shall be are hereby deemed to refer made to the Master Servicer (including the Trustee and the Trust Fund on whose behalf as if the Master Servicer were the "Purchaser" and all such representations, warranties, covenants, agreements and indemnities shall inure to the benefit of the Master Servicer. Nothing contained herein is acting); provided, however, that intended to result in the creation or assumption by the Master Servicer of any obligation of the Purchaser to pay "Purchaser" or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in any Person under the Custodial Account or the Trust Fund pursuant to the Pooling Purchase, Warranties and Servicing AgreementAgreement or any other agreement or instrument relating thereto except as specifically set forth herein. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence of an Event of Default under Section 15.01 failure of the Purchase Agreement (as modified by Servicer to perform any of its obligations under this Agreement). Notwithstanding anything herein to the contrary, as provided in no event shall the Master Servicer or the Trustee be required to assume any Article IX of the obligations of the Purchaser under the Purchase Agreement andPurchase, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling Warranties and Servicing Agreement.
Appears in 1 contract
Sources: Reconstituted Servicing Agreement (Structured Asset Sec Corp Pass THR Cert Ser 2000-1)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the LMT 2006-6 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller as purchaser under the Sale and Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase such Sale and Servicing Agreement and unless the term “Purchaser” as used in the Sale and Servicing Agreement in connection with any rights of the Seller shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement (as modified by this Sale and Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, Sale and Servicing Agreement; and in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and Trustee, which is acting on behalf of the Trust FundTrust, the owner of the Mortgage Loans, shall have the same rights (but not the obligations) as the Purchaser under the Purchase and Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase and Servicing Agreement and unless the term "Purchaser" as used in the Purchase and Servicing Agreement in connection with any rights of the Purchaser shall refer to the Master Servicer, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement or upon an Event of Default under Default, as provided in Section 15.01 14.01 of the Purchase Agreement (as modified by this and Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser under the Purchase Agreement and Servicing Agreement; and, in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Mortgage Investments Inc)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2002-3 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Brothers Bank, FSB as purchaser under the Purchase Servicing Agreement to enforce the obligations of the Servicer under the Servicing Agreement and unless the term "Purchaser" as used in the Servicing Agreement in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article X of the Purchase Agreement (as modified by this Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Brothers Bank, FSB under the Purchase Agreement and, Servicing Agreement; and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-3)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2005-WF2 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the 2005-M04 SWSA to enforce the obligations of the Servicer under the ▇▇▇▇-▇▇▇ under ▇▇▇▇ and the Purchase Agreement and unless term “Purchaser” as used in the 2005-M04 SWSA in connection with any rights of the Purchaser shall refer to the Master Servicer, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate terminate, and at the direction of the NIMS Insurer shall terminate, the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence of an Event of Default under Section 15.01 failure of the Purchase Agreement (as modified by Servicer to perform any of its obligations under this Agreement), as provided in Article X (Default) of the ▇▇▇▇-▇▇▇ ▇▇▇▇. Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement ▇▇▇▇-▇▇▇ ▇▇▇▇; and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2006-12 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Sevicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except the Company) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Reconstituted Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-12)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2007-2 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Sevicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except the Company) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-2)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the LXS 2006-10N Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the applicable SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement applicable SWSA and unless the term "Purchaser" as used in each SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of either SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Purchase Agreement Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (as modified by ii) the failure of the Master Sevicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, either SWSA and in connection with the performance of the Master Servicer’s 's duties hereunder, hereunder the parties and other signatories (except Countrywide and the Servicer) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Lehman XS Trust Series 2006-10n)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the LXS 2007-16N Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Servicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except Countrywide and the Servicer) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Lehman XS Trust Series 2007-16n)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2002-10H Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the Sale and Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Sale and Servicing Agreement and unless the term "Initial Owner" or "Owner" as used in the Sale and Servicing Agreement in connection with any rights of the Initial Owner or Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Sale and Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Sale and Servicing Agreement and, and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Sec Corp Mor Pass Thru Cer Ser 2002-10h)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the LXS 2007-7N Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Bank under the FPWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement FPWSA and unless the term “Purchaser” as used in the FPWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 28(a) of the Purchase Agreement (as modified by this Agreement)FPWSA. Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Bank under the Purchase Agreement and, FPWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Lehman XS Trust Series 2007-7n)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the LXS 2006-10N Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Capital under the Purchase Agreement FISA to enforce the obligations of the Servicer under the FISA as to the Mortgage Loans, and unless the term "Purchaser" as used in the FISA in connection with any rights of the Purchaser as to the Mortgage Loans shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article XI of the Purchase Agreement (as modified by this Agreement)FISA. Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Capital under the Purchase Agreement and, FISA and in connection with the performance of the Master Servicer’s 's duties hereunder, hereunder the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Lehman XS Trust Series 2006-10n)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the LXS 2006-12N Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the Sale and Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Sale and Servicing Agreement and unless the term “Initial Owner” or “Owner” as used in the Sale and Servicing Agreement in connection with any rights of the Initial Owner or Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 9.01 of the Purchase Agreement (as modified by this Sale and Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Sale and Servicing Agreement and, and in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Lehman XS Trust Series 2006-12n)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2000-4 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Capital, as owner, under the Purchase Master Servicing Agreement to enforce the obligations of the Servicer under the Master Servicing Agreement and unless the term "Owner" as used in the Master Servicing Agreement in connection with any rights of the Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article IX of the Purchase Agreement (as modified by this Master Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Capital under the Purchase Agreement and, Master Servicing Agreement; and in connection with the performance of the Master Servicer’s 's duties hereunder, hereunder the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2000-4)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the Trust Fund, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ under the Purchase Agreement and unless otherwise specified in Exhibit One A to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementFund. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ under this Agreement upon the occurrence of an Event of Default under Section 15.01 14.01 of the Purchase Agreement (as modified by this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser under the Purchase Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Agreement.
Appears in 1 contract
Sources: Reconstitution Agreement (Harbor View Mortgage Loan Trust 2005-14)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Servicer and the Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the Trust Fund, shall have the same rights (but not the obligations) as the Purchaser right to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Servicing Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the term “Purchaser” as used in the Purchase Servicing Agreement in connection with any rights and obligations of the Purchaser shall be deemed to refer to the Master Servicer (including the Trustee Trust Fund, which rights and obligations the Trust Fund on whose behalf hereby assumes, or, as the context requires, the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available acting in its capacity as agent for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementFund. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 14.01 of the Purchase Agreement Amended Servicing Agreement. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, DLJMC, CSFBMSC, the Trustee and the Trust Fund against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (i) actions or inactions of the Servicer or DLJMC which were taken or omitted upon the instruction or direction of the Master Servicer or DLJMC or (ii) the failure of the Trust Fund, DLJMC or the Master Servicer acting in its capacity as modified by this agent for the Trust Fund to perform the obligations of the “Purchaser” under the Amended Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser DLJMC under the Purchase Amended Servicing Agreement and, and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories hereto (except for the Servicer) agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Agreement. For purposes of clarification, all of DLJMC’s obligations under the Amended Servicing Agreement, including any indemnification obligations under the Amended Servicing Agreement, are hereby retained by DLJMC and will continue in full force and effect.
Appears in 1 contract
Sources: Servicing Agreement (CSMC Mortgage-Backed Trust Series 2006-5)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the Trust Fund, shall have the same rights (but not the obligations) as the Purchaser under the Flow Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Flow Agreement and unless the term "Purchaser" as used in the Flow Agreement in connection with any rights of the Purchaser shall refer to the Master Servicer, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence of an Event of Default under Section 15.01 failure of the Purchase Agreement (as modified by Servicer to perform any of its obligations under this Agreement), as provided in Article XIV (Default) of the Flow Agreement. Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement Flow Agreement; and, in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2000-3 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Capital, as purchaser, under the Purchase Flow Agreement to enforce the obligations of the Servicer under the Flow Agreement and unless the term "Purchaser" as used in the Flow Agreement in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article XI of the Purchase Agreement (as modified by this Flow Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Capital under the Purchase Flow Agreement and, and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cert Se 2000 3)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2007-5 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Sevicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except the Company) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-5)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the Trust FundFund created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller, as owner, under the Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Servicing Agreement and unless the term "Owner" as used in the Servicing Agreement in connection with any rights of the Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement and the provisions of the Servicing Agreement to the extent unmodified or unamended herein upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article 6 of the Purchase Servicing Agreement (such Article 6 and Article 7 of the Servicing Agreement remaining unmodified except for the right to terminate with respect to the Serviced Mortgage Loans being vested in the Master Servicer pursuant to this Agreement and as modified by this Agreementexpressly described in Exhibit A hereto). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Owner under the Purchase Servicing Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, and the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Securities Corp)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this AgreementAssignment. The Master Servicer, acting on behalf of the Trustee and Assignee, the Trust Fundowner of the Mortgage Loans, shall have the same rights (but not the obligations) as the Purchaser under the Purchase Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement and unless otherwise specified in Exhibit One to this Agreement, references to the “Initial term "Purchaser” or the “Purchaser” " as used in the Purchase Agreement in connection with any rights of the Purchaser shall refer to the Master Servicer, acting on behalf of the Assignee, except as otherwise specified in Exhibits A and B, hereto, and provided that any reference in the Purchase Agreement to "the Purchaser's expense" (or words to like effect) shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation be expenses of the Purchaser Assignee and, if it relates to pay or reimburse ▇▇▇▇▇▇ reimbursement of expenses incurred by the Servicer shall be satisfied solely recoverable by the Servicer from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementCollection Account. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement Assignment upon the occurrence of an Event of Default under Default, as provided in Section 15.01 of the Purchase Agreement (as modified by this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser under the Purchase Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Agreement.10.01
Appears in 1 contract
Sources: Assignment, Assumption and Recognition Agreement (Structured Asset Mortgage Investments Ii Inc)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2002-5A Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Brothers Bank, FSB as purchaser under the Purchase Servicing Agreement to enforce the obligations of the Servicer under the Servicing Agreement and unless the term "Purchaser" as used in the Servicing Agreement in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article X of the Purchase Agreement (as modified by this Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Brothers Bank, FSB under the Purchase Agreement and, Servicing Agreement; and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2002 5a)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇, including any successor servicer hereunder, The Servicer shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the LXS 2006-12N Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the Sale and Servicing Agreement to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Sale and Servicing Agreement and unless the term “Initial Owner” or “Owner” as used in the Sale and Servicing Agreement in connection with any such rights of the Initial Owner or Owner shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence of an Event of Default under Section 15.01 of the Purchase Agreement (as modified by this Agreement)Servicing Transfer Date. Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Sale and Servicing Agreement and, and in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Lehman XS Trust Series 2006-12n)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2006-9 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Sevicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except the Company) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-9)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇GMAC, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ GMAC’s obligation to service the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee Trustee, the Trust Administrator and the Trust Fund, shall have the same rights (but not the obligations) as the Purchaser Owner to enforce the obligations of ▇▇▇▇▇▇ GMAC under the Purchase Servicing Agreement and unless otherwise specified in Exhibit One A to this Agreement, references to the “Initial Purchaserinitial Owner” or the “PurchaserOwner” in the Purchase Servicing Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser Owner to pay or reimburse ▇▇▇▇▇▇ GMAC shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementFund. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ GMAC under this Agreement upon the occurrence of an Event of Default under Section 15.01 9.01 of the Purchase Servicing Agreement (as modified by this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer Servicer, the Trust Administrator or the Trustee be required to assume any of the obligations of the Purchaser Owner under the Purchase Servicing Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Agreement.
Appears in 1 contract
Sources: Reconstitution Agreement (Soundview Home Loan Trust 2007-1)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SASCO 2001-17 Trust Fund (the "Trust Fund") created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser to enforce the obligations of ▇▇▇▇▇▇ Brothers Bank, FSB as purchaser, under the Purchase Servicing Agreement to enforce the obligations of the Servicer under the Servicing Agreement and unless the term "Purchaser" as used in the Servicing Agreement in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under Section 15.01 as provided in Article X of the Purchase Agreement (as modified by this Servicing Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser ▇▇▇▇▇▇ Brothers Bank, FSB under the Purchase Agreement and, Servicing Agreement; and in connection with the performance of the Master Servicer’s 's duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Asset Secs Corp Mort Pas Thru CRTS SRS 2001-17)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2006-5 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Sevicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except the Company) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-5)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇▇ Fargo, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ Fargo’s obligation to service the Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee Trustee, the Trust Administrator and the Trust Fund, shall have the same rights (but not the obligations) as the Purchaser Owner to enforce the obligations of ▇▇▇▇▇▇ Fargo under the Purchase Servicing Agreement and unless otherwise specified in Exhibit One A to this Agreement, references to the “Initial Purchaserinitial Owner” or the “PurchaserOwner” in the Purchase Servicing Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser Owner to pay or reimburse ▇▇▇▇▇▇ Fargo shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementFund. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ Fargo under this Agreement upon the occurrence of an Event of Default under Section 15.01 10.01 of the Purchase Servicing Agreement (as modified by this Agreement). .] Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Owner under the Purchase Servicing Agreement and, in connection with the performance of the Master Servicer’s duties hereunder, the parties and other signatories hereto agree that the Master Servicer shall be entitled to all the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Agreement.
Appears in 1 contract
Sources: Reconstitution Agreement (Soundview Home Loan Trust 2007-1)
Master Servicing; Termination of Servicer. ▇▇▇▇▇▇The Servicer, including any successor servicer hereunder, shall be subject to the supervision of the Master Servicer, which Master Servicer shall be obligated to enforce ▇▇▇▇▇▇’▇ obligation to service ensure that the Servicer services the Serviced Mortgage Loans in accordance with the provisions of this Agreement. The Master Servicer, acting on behalf of the Trustee and the SARM 2006-7 Trust Fund (the “Trust Fund”) created pursuant to the Trust Agreement, shall have the same rights (but not the obligations) as the Purchaser Seller under the SWSA to enforce the obligations of ▇▇▇▇▇▇ the Servicer under the Purchase Agreement SWSA and unless the term “Purchaser” as used in the SWSA in connection with any rights of the Purchaser shall refer to the Trust Fund or, as the context requires, the Master Servicer acting in its capacity as agent for the Trust Fund, except as otherwise specified in Exhibit One to this Agreement, references to the “Initial Purchaser” or the “Purchaser” in the Purchase Agreement shall be deemed to refer to the Master Servicer (including the Trustee and the Trust Fund on whose behalf the Master Servicer is acting); provided, however, that any obligation of the Purchaser to pay or reimburse ▇▇▇▇▇▇ shall be satisfied solely from funds available for such purposes in the Custodial Account or the Trust Fund pursuant to the Pooling and Servicing AgreementA hereto. The Master Servicer shall be entitled to terminate the rights and obligations of ▇▇▇▇▇▇ the Servicer under this Agreement upon the occurrence failure of the Servicer to perform any of its obligations under this Agreement, which failure results in an Event of Default under as provided in Section 15.01 10.01 of the Purchase Agreement SWSA. Notwithstanding the foregoing, it is understood that the Servicer shall not be obligated to defend and indemnify and hold harmless the Master Servicer, the Trust Fund, or the Trustee against any losses, damages, penalties, fines, forfeitures, judgments and any related costs including, without limitation, reasonable and necessary legal fees, resulting from (as modified by i) actions or inactions of the Servicer which were taken or omitted upon the instruction or direction of the Master Servicer, the Trust Fund, or the Trustee, or (ii) the failure of the Master Sevicer, the Trust Fund, or the Trustee to perform their obligations under this Agreement). Notwithstanding anything herein to the contrary, in no event shall the Master Servicer or the Trustee be required to assume any of the obligations of the Purchaser Seller under the Purchase Agreement and, SWSA and in connection with the performance of the Master Servicer’s duties hereunder, hereunder the parties and other signatories (except the Company) hereto agree that the Master Servicer shall be entitled to all of the rights, protections and limitations of liability afforded to the Master Servicer under the Pooling and Servicing Trust Agreement.
Appears in 1 contract
Sources: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-7)