Determination Date. The Master Servicer initially shall designate the Reference Banks. Each "Reference Bank" shall be a leading bank engaged in transactions in Eurodollar deposits in the international Eurocurrency market, shall not control, be controlled by, or be under common control with, the Trustee and shall have an established place of business in London. If any such Reference Bank should be unwilling or unable to act as such or if the Master Servicer should terminate its appointment as Reference Bank, the Trustee shall promptly appoint or cause to be appointed another Reference Bank. The Trustee shall have no liability or responsibility to any Person for (i) the selection of any Reference Bank for purposes of determining LIBOR or (ii) any inability to retain at least four Reference Banks which is caused by circumstances beyond its reasonable control.
Appears in 9 contracts
Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-21cb), Pooling and Servicing Agreement (Indymac Residential Asset Securitization Trust 2004-A6), Pooling and Servicing Agreement (Indymac MBS Inc Residential Asset Sec Trust 2003 A10)
