Common use of Administrative Responsibilities Clause in Contracts

Administrative Responsibilities. Xxxxxxx Mac shall hold and administer, or supervise the administration of, the REMIC Pools and MACR Pools in a manner consistent with and to the extent required by standards of prudence and in substantially the same manner as it holds and administers assets of the same or similar type held for its own account. In performing its responsibilities hereunder, Xxxxxxx Mac may employ agents or independent contractors. Except as provided in Articles VI and VII of this Agreement, Xxxxxxx Mac shall not be subject to the control of Holders in any manner whatsoever in the discharge of its responsibilities pursuant to this Agreement. Except with regard to its guarantee obligation pursuant to Section 4.06 or pursuant to its indemnities under Sections 2.05 and 8.01, Xxxxxxx Mac shall have no liability to any Holder other than for any direct damage resulting from Xxxxxxx Mac's failure to exercise that degree of ordinary care which it exercises in the conduct and management of its own affairs. Xxxxxxx Mac shall have no liability of any nature for consequential damages.

Administrative Responsibilities. Xxxxxxx Mac shall hold and administer, or supervise the administration of, the REMIC Pools and MACR Pass-Through Pools in a manner consistent with and to the extent required by standards of prudence and in substantially the same manner as it holds and administers assets other pools of the same or similar type held for its own account. In performing its responsibilities hereunder, Xxxxxxx Mac may employ agents or independent contractors. Except as provided in Articles V and VI and VII Section 7.05 of this Agreement, Xxxxxxx Mac shall not be subject to the control of Holders in any manner whatsoever in the discharge of its responsibilities pursuant to this Agreement. Except with regard to its guarantee obligation pursuant to Section 4.06 or pursuant to its indemnities under Sections 2.05 and 8.013.05, Xxxxxxx Mac shall have no liability to any Holder other than for any direct damage resulting from Xxxxxxx Mac's failure to exercise that degree of ordinary care which it exercises in the conduct and management of its own affairsaÅairs. Xxxxxxx Mac shall have no liability of any whatever nature for consequential damages.

Administrative Responsibilities. Xxxxxxx Mac shall hold and administer, or supervise the administration of, the REMIC Pools and MACR Pass-Through Pools in a manner consistent with and to the extent required by standards of prudence and in substantially the same manner as it holds and administers assets other pools of the same or similar type held for its own account. In performing its responsibilities hereunder, Xxxxxxx Mac may employ agents or independent contractors. Except as provided in Articles V and VI and VII Section 7.05 of this Agreement, Xxxxxxx Mac shall not be subject to the control of Holders in any manner whatsoever in the discharge of its responsibilities pursuant to this Agreement. Except with regard to its guarantee obligation pursuant to Section 4.06 or pursuant to its indemnities under Sections 2.05 and 8.013.05, Xxxxxxx Mac shall have no liability to any Holder other than for any direct damage resulting from Xxxxxxx Mac's failure to exercise that degree of ordinary care which it exercises in the conduct and management of its own affairs. Xxxxxxx Mac shall have no liability of any whatever nature for consequential damages.

Administrative Responsibilities. Xxxxxxx Mac shall hold and administer, or supervise the administration of, the REMIC Pools and MACR Pools in a manner consistent with and to the extent required by standards of prudence and in substantially the same manner as it holds and administers assets of the same or similar type held for its own account. In performing its responsibilities hereunder, Xxxxxxx Mac may employ agents or independent contractors. Except as provided in Articles VI and VII of this Agreement, Xxxxxxx Mac shall not be subject to the control of Holders in any manner whatsoever in the discharge of its responsibilities pursuant to this Agreement. Except with regard to its guarantee obligation pursuant to Section 4.06 or pursuant to its indemnities under Sections 2.05 and 8.01, Xxxxxxx Mac shall have no liability to any Holder other than for any direct damage resulting from Xxxxxxx Mac's failure to exercise that degree of ordinary care which it exercises in the conduct and management of its own affairsaÅairs. Xxxxxxx Mac shall have no liability of any nature for consequential damages.