Common use of Duties of Trustee and Securities Administrator Clause in Contracts

Duties of Trustee and Securities Administrator. (a) Each of the Trustee and the Securities Administrator, except during the continuance of an Event of Default of which a Responsible Officer of the Trustee or Securities Administrator, as applicable, shall have actual knowledge, undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. Any permissive right of the Trustee or Securities Administrator provided for in this Agreement shall not be construed as a duty of the Trustee or Securities Administrator. If an Event of Default (of which a Responsible Officer of the Trustee or Securities Administrator, as applicable, shall have actual knowledge) has occurred and has not otherwise been cured or waived, the Trustee or the Securities Administrator 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 Securities Administrator is acting as 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. (a) Each of the Trustee and the Securities AdministratorThe Trustee, except during the continuance of an Event of Default of which a Responsible Officer of the Trustee or Securities Administrator, as applicable, shall have actual knowledge, undertakes and the Securities Administrator, undertake 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 (of which a Responsible Officer of the Trustee or Securities Administrator, as applicable, shall have actual knowledge) has occurred and has not otherwise been cured or waived, the Trustee (upon receipt of actual knowledge thereof by a Responsible Officer of the Trustee) or the Securities Administrator 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 unless, with respect to the Securities Administrator, the Securities Administrator is acting as 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. (a) Each of the Trustee and the Securities AdministratorThe Trustee, except during the continuance of an Event of Default (of which a Responsible Officer of the Trustee or Securities Administrator, as applicable, shall have actual knowledge), undertakes and the Securities Administrator each undertake to perform such duties and only such duties as are specifically set forth in this AgreementAgreement as duties of the Trustee and the Securities Administrator, respectively. 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, respectively. If an Event of Default (of which a Responsible Officer of the Trustee or Securities Administrator, as applicable, shall have actual knowledge) has occurred and has not otherwise been cured or waived, the Trustee or the Securities Administrator 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, affairs unless the Securities Administrator Trustee is acting as 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. (a) Each of the Trustee and the Securities AdministratorThe Trustee, except during the continuance of an Event of Default (of which a Responsible Officer of the Trustee or Securities Administrator, as applicable, shall have actual knowledge), 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 (of which a Responsible Officer of the Trustee or the Securities Administrator, as applicable, Administrator shall have actual knowledge) has occurred and has not otherwise been cured or waived, the Trustee or the Securities Administrator 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 's own affairs, affairs unless the Trustee or the Securities Administrator is acting as 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. (a) Each of the Trustee and the Securities AdministratorThe Trustee, except during the continuance of an Event of Default (of which a Responsible Officer of the Trustee or Securities Administrator, as applicable, shall have actual knowledge), 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 (of which a Responsible Officer of the Trustee or the Securities Administrator, as applicable, Administrator shall have actual knowledge) has occurred and has not otherwise been cured or waived, the Trustee or the Securities Administrator 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, affairs unless the Securities Administrator is acting as 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. (a) Each of the Trustee and the Securities AdministratorThe Trustee, except during the continuance of an Event of Default (of which a Responsible Officer of the Trustee or Securities Administrator, as applicable, shall have actual knowledge), 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 (of which a Responsible Officer of the Trustee or the Securities Administrator, as applicable, Administrator shall have actual knowledge) has occurred and has not otherwise been cured or waived, the Trustee or the Securities Administrator 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 's own affairs, affairs unless the Securities Administrator is acting as 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. (a) Each of the Trustee and the Securities AdministratorThe Trustee, except during the continuance of an Event of Default (of which a Responsible Officer of the Trustee or Securities Administrator, as applicable, shall have actual knowledge), and the Securities Administrator (including in its capacities as Certificate Registrar, Paying Agent and Authenticating Agent) undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. The parties hereto hereby acknowledge and agree that all references in this Article VI to the Securities Administrator shall be deemed to include the Securities Administrator when acting in its capacities as Certificate Registrar, Paying Agent and Authenticating Agent. 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 (of which a Responsible Officer of the Trustee or the Securities Administrator, as applicable, Administrator shall have actual knowledge) has occurred and has not otherwise been cured or waived, the Trustee or the Securities Administrator 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 's own affairs, affairs unless the Trustee or the Securities Administrator is acting as 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. (a) Each of the The Trustee and the Securities Administrator, except during the continuance of an Event of Default of which a Responsible Officer of the Trustee or and the Securities Administrator, as applicable, Administrator shall have actual knowledge, 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 (of which a Responsible Officer of the Trustee or Securities Administrator, as applicable, shall have actual knowledge) has occurred and has not otherwise been cured or waived, the Trustee and the Securities Administrator (upon receipt of actual knowledge thereof by a Responsible Officer of the Trustee or the Securities Administrator Administrator) 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 unless, with respect to the Securities Administrator, the Securities Administrator is acting as 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. (a) Each of the Trustee and the Securities AdministratorThe Trustee, except during the continuance of an Event of Default of which a Responsible Officer of the Trustee or Securities Administrator, as applicable, shall have actual knowledge, 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 (of which a Responsible Officer of the Trustee or Securities Administrator, as applicable, shall have actual knowledge) has occurred and has not otherwise been cured or waived, the Trustee (upon receipt of actual knowledge thereof by a Responsible Officer of the Trustee) or the Securities Administrator 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 unless, with respect to the Securities Administrator, the Securities Administrator is acting as Master Servicer, in which case it shall use the same degree of care and skill as the Master Servicer hereunder.