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Pooling and Servicing Agreement

 

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Title:

Pooling and Servicing Agreement

Entities:

Powershares Db Multi-Sector Commodity Trust

Date:

2007

Size:

Preview shows 53KB of 569KB total

Price:

$80

ID:

#2861121

 

 

► Services ► Servicing ► Pooling & Servicing Agreements

 

 

Start of Preview


 
The Pooling & Servicing Agreement
 
 

 
EXECUTION COPY

 
 

 
CWMBS, INC.,
 
Depositor
 
COUNTRYWIDE HOME LOANS, INC.,
 
Seller
 
PARK GRANADA LLC,
 
Seller
 
PARK MONACO INC.,
 
Seller
 
PARK SIENNA LLC,
 
Seller
 
COUNTRYWIDE HOME LOANS SERVICING LP,
 
Master Servicer
 
and
 
THE BANK OF NEW YORK,
 
Trustee
 
___________________________________
 
POOLING AND SERVICING AGREEMENT
 
Dated as of April 1, 2007
___________________________________
 
CHL MORTGAGE PASS-THROUGH TRUST 2007-7
 
MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-7
 

 
 

 

 
 
Table of Contents
 
Page
 
ARTICLE I DEFINITIONS  
     
SECTION 1.01.
Defined Terms
I-1
SECTION 1.02.
Certain Interpretive Provisions
I-28
     
ARTICLE II CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES  
     
SECTION 2.01.
Conveyance of Mortgage Loans.
II-1
SECTION 2.02.
Acceptance by Trustee of the Mortgage Loans.
II-4
SECTION 2.03.
Representations, Warranties and Covenants of the Sellers and  Master Servicer.
II-6
SECTION 2.04.
Representations and Warranties of the Depositor as to the Mortgage Loans.
II-8
SECTION 2.05.
Delivery of Opinion of Counsel in Connection with Substitutions.
II-9
SECTION 2.06.
Execution and Delivery of Certificates.
II-9
SECTION 2.07.
REMIC Matters.
II-9
SECTION 2.08.
Covenants of the Master Servicer.
II-10
     
ARTICLE III ADMINISTRATION AND SERVICING OF MORTGAGE LOANS  
     
SECTION 3.01.
Master Servicer to Service Mortgage Loans.
III-1
SECTION 3.02.
Subservicing; Enforcement of the Obligations of Subservicers.
III-2
SECTION 3.03.
Rights of the Depositor and the Trustee in Respect of the Master Servicer.
III-2
SECTION 3.04.
Trustee to Act as Master Servicer.
III-2
SECTION 3.05.
Collection of Mortgage Loan Payments; the Certificate Account and the Distribution Account
III-3
SECTION 3.06.
Collection of Taxes, Assessments and Similar Items; Escrow Accounts.
III-5
SECTION 3.07.
Access to Certain Documentation and Information Regarding the Mortgage Loans.
III-6
SECTION 3.08.
Permitted Withdrawals from the Certificate Account and the Distribution Account.
III-6
SECTION 3.09.
Maintenance of Hazard Insurance; Maintenance of Primary Insurance Policies.
III-8
SECTION 3.10.
Enforcement of Due-on-Sale Clauses; Assumption Agreements.
III-9
SECTION 3.11.
Realization Upon Defaulted Mortgage Loans; Repurchase of Certain Mortgage Loans.
III-10
SECTION 3.12.
Trustee to Cooperate; Release of Mortgage Files.
III-13
SECTION 3.13.
Documents, Records and Funds in Possession of Master Servicer to be Held for the Trustee.
III-14
SECTION 3.14.
Servicing Compensation.
III-14
SECTION 3.15.
Access to Certain Documentation.
III-14
SECTION 3.16.
Annual Statement as to Compliance.
III-15
SECTION 3.17.
Errors and Omissions Insurance; Fidelity Bonds.
III-15
 
i


 

 
     
ARTICLE IV DISTRIBUTIONS AND ADVANCES BY THE MASTER SERVICER  
     
SECTION 4.01.
Advances.
IV-1
SECTION 4.02.
Priorities of Distribution.
IV-2
SECTION 4.03.
[Reserved].
IV-6
SECTION 4.04.
Allocation of Realized Losses.
IV-6
SECTION 4.05.
[Reserved]
IV-7
SECTION 4.06.
Monthly Statements to Certificateholders.
IV-7
SECTION 4.07.
Determination of Pass-Through Rates for COFI Certificates.
IV-7
SECTION 4.08.
Determination of Pass-Through Rates for LIBOR Certificates.
IV-8
     
ARTICLE V THE CERTIFICATES  
     
SECTION 5.01.
The Certificates.
V-1
SECTION 5.02.
Certificate Register; Registration of Transfer and Exchange of Certificates.
V-1
SECTION 5.03.
Mutilated, Destroyed, Lost or Stolen Certificates.
V-5
SECTION 5.04.
Persons Deemed Owners.
V-5
SECTION 5.05.
Access to List of Certificateholders Names and Addresses.
V-6
SECTION 5.06.
Maintenance of Office or Agency.
V-6
SECTION 5.07.
Depositable and Exchangeable Certificates.

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