Duties of Trustee and Securities Administrator Sample Clauses
Duties of Trustee and Securities Administrator. The Trustee, prior to the occurrence of a Master Servicer Event of Default and after the curing or waiver of all Master Servicer Events of Default which may have occurred, and the Securities Administrator each undertake to perform such duties and only such duties as are specifically set forth in this Agreement as duties of the Trustee and the Securities Administrator, respectively. During the continuance of a Master Servicer Event of Default, 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 its exercise as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. Any permissive right of the Trustee enumerated in this Agreement shall not be construed as a duty. Each of the Trustee and the Securities Administrator, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to it, which are specifically required to be furnished pursuant to any provision of this Agreement, shall examine them to determine whether they conform on their face to the requirements of this Agreement. If any such instrument is found not to conform on its face to the requirements of this Agreement, the Trustee or the Securities Administrator, as the case may be, shall take such action as it deems appropriate to have the instrument corrected, and if the instrument is not corrected to its satisfaction, the Securities Administrator shall provide notice to the Trustee thereof and the Trustee shall provide notice to the Certificateholders. No provision of this Agreement shall be construed to relieve the Trustee or the Securities Administrator from liability for its own negligent action, its own negligent failure to act or its own misconduct; provided, however, that:
(i) Prior to the occurrence of a Master Servicer Event of Default, and after the curing or waiver of all such Master Servicer Events of Default which may have occurred with respect to the Trustee and at all times with respect to the Securities Administrator, the duties and obligations of the Trustee and the Securities Administrator shall be determined solely by the express provisions of this Agreement, neither the Trustee nor the Securities Administrator shall be liable except for the performance of such duties and obligations as are specifically set forth in this Agreement, no implied covenants or obligations shall be read into ...
Duties of Trustee and Securities Administrator. Certain Matters Affecting the Trustee and Securities Administrator.
Duties of Trustee and Securities Administrator. Certain Matters Affecting the Trustee and the Securities Administrator Trustee and Securities Administrator Not Liable for Certificates or Mortgage Loans Trustee and Securities Administrator May Own Certificates Trustee's and Securities Administrator's Fees and Expenses Eligibility Requirements for Trustee and Securities Administrator Insurance Resignation and Removal of Trustee and Securities Administrator Successor Trustee or Securities Administrator Merger or Consolidation of Trustee or Securities Administrator Appointment of Co-Trustee or Separate Trustee Tax Matters 86 87 89 90 90 90 91 91 92 92 92 94
Duties of Trustee and Securities Administrator. 133- SECTION 9.02. Certain Matters Affecting Trustee and Securities Administrator................................ -134- SECTION 9.03. Trustee and Securities Administrator not Liable for Certificates or Mortgage Loans...................... -136- SECTION 9.04. Trustee and Securities Administrator May Own Certificates.................................... -136- SECTION 9.05. Fees and Expenses of Trustee and Securities Administrator................................ -137- SECTION 9.06. Eligibility Requirements for Trustee and Securities Administrator................................ -137- SECTION 9.07. Resignation and Removal of Trustee and Securities Administrator................................ -138- SECTION 9.08. Successor Trustee or Securities Administrator........... -139- SECTION 9.09. Merger or Consolidation of Trustee or Securities Administrator................................ -139- SECTION 9.10. Appointment of Co-Trustee or Separate Trustee........... -140- SECTION 9.11. Appointment of Office or Agency......................... -141- SECTION 9.12. Representations and Warranties.......................... -141- ARTICLE X
Duties of Trustee and Securities Administrator. 110 Section 9.02 CERTAIN MATTERS AFFECTING THE TRUSTEE AND THE SECURITIES ADMINISTRATOR..........................................112 Section 9.03 TRUSTEE AND SECURITIES ADMINISTRATOR NOT LIABLE FOR CERTIFICATES OR MORTGAGE LOANS........................................113 Section 9.04 TRUSTEE AND SECURITIES ADMINISTRATOR MAY OWN CERTIFICATES.............114 Section 9.05 TRUSTEE'S AND SECURITIES ADMINISTRATOR'S EXPENSES.....................114 Section 9.06 ELIGIBILITY REQUIREMENTS FOR TRUSTEE AND SECURITIES ADMINISTRATOR.....114 Section 9.07 INSURANCE.............................................................115 Section 9.08
Duties of Trustee and Securities Administrator. (a) The Trustee, prior to the occurrence of an Event of Default (of which a Responsible Officer of the Trustee shall have actual knowledge) and after the curing or waiver of all Events of Default which may have occurred, and the Securities Administrator each undertake to perform such duties and only such duties as are specifically set forth in this Agreement as duties of the Trustee and the Securities Administrator, respectively. If an Event of Default has occurred (of which a Responsible Officer of the Trustee shall have actual knowledge) and has not been cured or waived, the Trustee shall exercise such of the rights and powers vested in it by this Agreement, and subject to Section 8.02
(b) use the same degree of care and skill in their exercise, as a prudent person would exercise under the circumstances in the conduct of his own affairs, unless the Trustee is acting as successor Master Servicer, in which case it shall use the same degree of care and skill as the Master Servicer hereunder.
Duties of Trustee and Securities Administrator. The Trustee, prior to the occurrence of an Event of Default and after the curing or waiver of all Events of Default which may have occurred, and the Securities Administrator each undertake to perform such duties and only such duties as are specifically set forth in this Agreement as duties of the Trustee and the Securities Administrator, respectively. If an Event of Default has occurred and has not been cured or waived, the Trustee shall exercise such of the rights and powers vested in it by this Agreement use the same degree of care and skill in their exercise, as a prudent person would exercise under the circumstances in the conduct of his own affairs.
Duties of Trustee and Securities Administrator. The Trustee, prior to the occurrence of a Master Servicer Default, and after the curing or waiver of all Master Servicer Defaults, which may have occurred undertakes to perform such duties and only such duties as are specifically set forth in this Agreement as duties of the Trustee. If a Master Servicer Default has occurred and has not been cured or waived, the Trustee shall exercise such of the rights and powers vested in it by this Agreement, and the same degree of care and skill in their exercise, as a prudent person would exercise under the circumstances in the conduct of such Person’s own affairs. The Securities Administrator undertakes to perform such duties and only such duties as are specifically set forth in this Agreement as duties of the Securities Administrator. The rights, duties and obligations of the Securities Administrator under this Agreement shall be of Xxxxx Fargo Bank, N.A. in its capacity as such and not in its capacity as Master Servicer hereunder.
Duties of Trustee and Securities Administrator. (a) The Trustee, prior to the occurrence of an Event of Default and after the curing or waiver of all Events of Default which may have occurred, and the Securities Administrator each undertake to perform such duties and only such duties as are specifically set forth in this Agreement as duties of the Trustee and the Securities Administrator, respectively. If an Event of Default has occurred and has not been cured or waived, the Trustee shall exercise such of the rights and powers vested in it by this Agreement use the same degree of care and skill in their exercise, as a prudent person would exercise under the circumstances in the conduct of his own affairs.
(b) Upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments which are specifically required to be furnished to the Trustee and the Securities Administrator pursuant to any provision of this Agreement, the Trustee and the Securities Administrator, respectively, shall examine them to determine whether they are on their face in the form required by this Agreement; provided, however, that neither the Trustee nor the Securities Administrator shall be responsible for the accuracy or content of any resolution, certificate, statement, opinion, report, document, order or other instrument furnished hereunder; provided, further, that neither the Trustee nor the Securities Administrator shall be responsible for the accuracy or verification of any calculation provided to it pursuant to this Agreement.
Duties of Trustee and Securities Administrator. Certain Matters Affecting the Trustee and the Securities Administrator Trustee and Securities Administrator Not Liable for Certificates or Mortgage Loans Trustee, Custodian, Delaware Trustee, Master Servicer and Securities Administrator May Own Certificates Trustee's, Delaware Trustee's and Securities Administrator's Fees and Expenses Eligibility Requirements for Trustee, Securities Administrator and Delaware Trustee Insurance Resignation and Removal of the Trustee and Securities Administrator Successor Trustee and Successor Securities Administrator Merger or Consolidation of Trustee or Securities Administrator Appointment of Co-Trustee or Separate Trustee Federal Information Returns and Reports to Certificateholders; REMIC Administration Auction Administration Agreement; Auction Swap Agreement 107 110 112 113 113 113 114 114 115 116 116 117 119 ARTICLE X Termination 119