Concerning the Trustee and the Securities Administrator Events of Default Sample Clauses
This clause defines the roles, responsibilities, and potential liabilities of the trustee and the securities administrator in the context of a financial agreement, particularly focusing on what constitutes an event of default. It typically outlines the standards of care expected from these parties, the actions they must take if a default occurs, and the procedures for notifying relevant stakeholders. By clearly delineating duties and default scenarios, the clause ensures accountability and provides a structured response to defaults, thereby protecting the interests of investors and other parties involved.
Concerning the Trustee and the Securities Administrator Events of Default. SECTION 6.01 Duties of Trustee and the Securities Administrator.
(a) The Trustee, except during the continuance of an Event of Default, and the Securities Administrator undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. Any permissive right of the Trustee or the Securities Administrator provided for in this Agreement shall not be construed as a duty of the Trustee or the Securities Administrator. If an Event of Default has occurred and has not otherwise been cured or waived, the Trustee shall exercise such of the rights and powers vested in it by this Agreement and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs, unless the Trustee is acting as master servicer of the Mortgage Loans, in which case it shall use the same degree of care and skill as a master servicer of the Mortgage Loans hereunder.
(b) Each of the Trustee and the Securities Administrator, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee or the Securities Administrator which are specifically required to be furnished pursuant to any provision of this Agreement, shall examine them, subject to the limitations set forth in Section 6.11, to determine whether they are in the form required by this Agreement to the extent specified herein; provided, however, that neither the Trustee nor the Securities Administrator shall be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument furnished by the Master Servicer or any Servicer or any other Person to the Trustee or the Securities Administrator pursuant to this Agreement, and shall not be required to recalculate or verify any numerical information furnished to the Trustee or the Securities Administrator pursuant to this Agreement. Subject to the immediately preceding sentence, if any such resolution, certificate, statement, opinion, report, document, order or other instrument is found not to conform to the form required by this Agreement in a material manner the Securities Administrator shall notify the Person providing such instrument of such nonconformance and request that such instrument be corrected, and if the instrument is not corrected to the Securities Administrator ’s satisfaction, the Securities Admin...
Concerning the Trustee and the Securities Administrator Events of Default. Section 6.01 Duties of Trustee and the Securities Administrator. 77
Section 6.02 Certain Matters Affecting the Trustee and the Securities Administrator.
Section 6.03 Trustee and Securities Administrator Not Liable for Certificates. 82
Section 6.04 Trustee and the Securities Administrator May Own Certificates. 82
Section 6.05 Eligibility Requirements for Trustee. 83 Section 6.06 Resignation and Removal of Trustee and the Securities Administrator. 83 Section 6.07 Successor Trustee and Successor Securities Administrator. 84
Concerning the Trustee and the Securities Administrator Events of Default. Section 6.01 Duties of Trustee and Securities Administrator. 80 Section 6.02 Certain Matters Affecting the Trustee and the Securities Administrator. Section 6.03 Trustee and Securities Administrator Not Liable for Certificates. 85 Section 6.04 Trustee and the Securities Administrator May Own Certificates. Section 6.05 Eligibility Requirements for Trustee and Securities Administrator. 85 Section 6.06 Resignation and Removal of Trustee and the Securities Administrator. Section 6.07 Successor Trustee and Successor Securities Administrator. Section 6.08 Merger or Consolidation of Trustee or the Securities Administrator. Section 6.09 Appointment of Co-Trustee, Separate Trustee or Custodian. 88 Section 6.10 Authenticating Agents. 90 Section 6.11 Indemnification of Trustee and Securities Administrator. 91 Section 6.12 Fees and Expenses of Securities Administrator, Trustee and Custodians. 91 Section 6.13 Collection of Monies.
Concerning the Trustee and the Securities Administrator Events of Default. Section 6.01 Duties of Trustee and the Securities Administrator.
Concerning the Trustee and the Securities Administrator Events of Default. 80 Section 6.01 Duties of Trustee and the Securities Administrator. 80 Section 6.02 Certain Matters Affecting the Trustee and the Securities Administrator. Section 6.03 Trustee and Securities Administrator Not Liable for Certificates. 85 Section 6.04 Trustee and the Securities Administrator May Own Certificates. Section 6.05 Eligibility Requirements for Trustee. 85 Section 6.06 Resignation and Removal of Trustee and the Securities Administrator. Section 6.07 Successor Trustee and Successor Securities Administrator. Section 6.08 Merger or Consolidation of Trustee or the Securities Administrator. Section 6.09 Appointment of Co-Trustee, Separate Trustee or Custodian. 88 Section 6.10 Authenticating Agents. 90
Concerning the Trustee and the Securities Administrator Events of Default. Section 6.01 Duties of Trustee and the Securities Administrator...........................62 Section 6.02 Certain Matters Affecting the Trustee and the Securities Administrator.....
Concerning the Trustee and the Securities Administrator Events of Default. 69 Section 6.01. Duties of Trustee and Securities Administrator.......................... 69 Section 6.02. Certain Matters Affecting the Trustee and the Securities Administrator.. 71 Section 6.03. Trustee and Securities Administrator Not Liable for Certificates or Mortgage Loans.......................................................... 72 Section 6.04. Trustee and Securities Administrator May Own Certificates............... 73 Section 6.05. Eligibility Requirements for Trustee and Securities Administrator....... 73 Section 6.06. Resignation and Removal of Trustee and Securities Administrator......... 73 Section 6.07. Successor Trustee or Successor Securities Administrator................. 74 Section 6.08. Merger or Consolidation of Trustee or Securities Administrator.......... 75 Section 6.09. Appointment of Co-Trustee, Separate Trustee or Custodian................ 75 Section 6.10. Authenticating Agents................................................... 77 Section 6.11. Indemnification of Trustee and Securities Administrator................. 78 Section 6.12. Fees and Expenses of the Trustee and Securities Administrator........... 78 Section 6.13. Collection of Monies.................................................... 78
Concerning the Trustee and the Securities Administrator Events of Default. Section 6.01. Duties of Trustee and Securities Administrator........................ 68 Section 6.02. Certain Matters Affecting the Trustee and the Securities Administrator......................................................... 70 Section 6.03. Trustee and Securities Administrator Not Liable for Certificates or Mortgage Loans........................................................ 72 Section 6.04. Trustee and Securities Administrator May Own Certificates............. 72 Section 6.05. Eligibility Requirements for Trustee and Securities Administrator...
Concerning the Trustee and the Securities Administrator Events of Default