Common use of Additional Representations and Warranties of the Trustee Clause in Contracts

Additional Representations and Warranties of the Trustee. (a) The Trustee shall be deemed to represent to the Depositor as of the date hereof and on each date on which information is provided to the Depositor under Sections 12.01, 12.02(b) or 12.03 that, except as disclosed in writing to the Depositor prior to such date: (i) it is not aware and has not received notice that any default, early amortization or other performance triggering event has occurred as to any other Securitization Transaction due to any default of the Trustee; (ii) there are no relationships or transactions (as described in Item 1119(b) of Regulation AB) relating to the Trustee with respect to the Depositor or any sponsor, issuing entity, servicer, trustee, originator, significant obligor, enhancement or support provider or other material transaction party (as each of such terms are used in Regulation AB) relating to the Securitization Transaction contemplated by the Agreement, as identified by the Depositor to the Trustee in writing as of the Closing Date (each, a "Transaction Party") that are outside the ordinary course of business or on terms other than would be obtained in an arm's length transaction with an unrelated third party, apart from the Securitization Transaction, and that are material to the investors' understanding of the Certificates; and (iii) the Trustee is not an affiliate of any Transaction Party (as contemplated by Item 1119(a) of Regulation AB). The Depositor shall notify the Trustee of any change in the identity of a Transaction Party after the Closing Date.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (RAMP Series 2006-Rz3 Trust), Pooling and Servicing Agreement (RAMP Series 2006-Rs4 Trust), Custodial Agreement (RAMP Series 2006-Rs5 Trust)

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Additional Representations and Warranties of the Trustee. (a) The Trustee shall be deemed to represent to the Depositor Company as of the date hereof and on each date on which information is provided to the Depositor Company under Sections 12.01, 12.02(b) or 12.03 that, except as disclosed in writing to the Depositor Company on or prior to such date: (i) there are no material legal or governmental proceedings pending (or known to be contemplaged) against it is not aware and has not received notice that any default, early amortization or other performance triggering event has occurred as would be material to any other Securitization Transaction due to any default of the TrusteeCertificateholders; (ii) there are no relationships or transactions (as described in Item 1119(b) of Regulation AB) relating to the Trustee with respect to the Depositor Company or any sponsor, issuing entity, servicer, trustee, originator, significant obligor, enhancement or support provider or other material transaction party (as each of such terms are used in Regulation AB) relating to the Securitization Transaction contemplated by the Agreement, as identified by the Depositor Company to the Trustee in writing as of the Closing Date (each, a "Transaction Party") that are outside the ordinary course of business or on terms other than would be obtained in an arm's length transaction with an unrelated third party, apart from the Securitization Transaction, and that are material to the investors' understanding of the Certificates; and (iii) the Trustee is not an affiliate of any Transaction Party (as contemplated by Item 1119(a) of Regulation AB)) of any Transaction Party. The Depositor Company shall notify the Trustee of any change in the identity of a Transaction Party after the Closing Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (GMACM Mortgage Loan Trust 2006-Ar2)

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