Reimbursement of Costs and Expenses. (a) To the extent that the costs and expenses of the Trustee related to any termination of the Servicer, appointment of a Successor Servicer or the transfer and assumption of servicing by the Trustee with respect to this Agreement (including, without limitation, (i) all legal costs and expenses and all due diligence costs and expenses associated with an evaluation of the potential termination of the Servicer as a result of an event of default by such Person and (ii) all costs and expenses associated with the complete transfer of servicing, including all servicing files and all servicing data and the completion, correction or manipulation of such servicing data as may be required by the Successor Servicer to correct any errors or insufficiencies in the servicing data or otherwise to enable the successor service to service the related Mortgage Loans in accordance with this Agreement) are not fully and timely reimbursed by the Servicer, the Trustee shall be entitled to reimbursement of such costs and expenses from the Distribution Account.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (ACE Securities Corp Home Equity Trust 2005-He3), Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2004-Ar2), Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2005 - AR1)
Reimbursement of Costs and Expenses. (a) To the extent that the costs and expenses of the Trustee Master Servicer related to any termination of the Servicer, appointment of a Successor Servicer or the transfer and assumption of servicing by the Trustee Master Servicer with respect to this Agreement (including, without limitation, (i) all legal costs and expenses and all due diligence costs and expenses associated with an evaluation of the potential termination of the Servicer as a result of an event of default by such Person and (ii) all costs and expenses associated with the complete transfer of servicing, including all servicing files and all servicing data and the completion, correction or manipulation of such servicing data as may be required by the Successor Servicer to correct any errors or insufficiencies in the servicing data or otherwise to enable the successor service to service the related Mortgage Loans in accordance with this Agreement) are not fully and timely reimbursed by the Servicer, the Trustee Master Servicer shall be entitled to reimbursement of such costs and expenses from the Distribution Account.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2005-S2), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp)
Reimbursement of Costs and Expenses. (a) To the extent that the costs and expenses of the Trustee related to any termination of the Servicer, appointment of a Successor Servicer or the transfer and assumption of servicing by the Trustee with respect to this Agreement (including, without limitation, (i) all legal costs and expenses and all due diligence costs and expenses associated with an evaluation of the potential termination of the Servicer as a result of an event of default by such Person and (ii) all costs and expenses associated with the complete transfer of servicing, including all servicing files and all servicing data and the completion, correction or manipulation of such servicing data as may be required by the Successor Servicer to correct any errors or insufficiencies in the servicing data or otherwise to enable the successor service servicer to service the related Mortgage Loans in accordance with this Agreement) are not fully and timely reimbursed by the Servicer, the Trustee shall be entitled to reimbursement of such costs and expenses from the Distribution Account.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corp), Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc.)
Reimbursement of Costs and Expenses. (a) To the extent that the costs and expenses of the Trustee related to any termination of the Servicer, appointment of a Successor Servicer or the transfer and assumption of servicing by the Trustee with respect to this Agreement (including, without limitation, (i) all legal costs and expenses and all due diligence costs and expenses associated with an evaluation of the potential termination of the Servicer as a result of an event of default by such Person and (ii) all costs and expenses associated with the complete transfer of servicing, including all servicing files and all servicing data and the completion, correction or manipulation of such servicing data as may be required by the Successor Servicer to correct any errors or insufficiencies in the servicing data or otherwise to enable the successor service to service the related Mortgage Loans in accordance with this Agreement) are not fully and timely reimbursed by the Servicer, the Trustee shall be entitled to reimbursement of such costs and expenses from the Distribution AccountAccounts.
Appears in 1 contract
