Common use of Duties of Trustee Clause in Contracts

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, 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. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement shall examine them to determine whether they are in the form required by this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Appears in 250 contracts

Samples: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)

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Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, 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. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided. If any such instrument is found not to conform to the requirements of this Agreement in a material manner, however, that the Trustee shall not be responsible for take action as it deems appropriate to have the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrumentinstrument corrected. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own misconduct, its negligent failure to perform its obligations in compliance with this Agreement, or any liability that would be imposed by reason of its willful misconductmisfeasance or bad faith; provided, however, that:

Appears in 32 contracts

Samples: Pooling and Servicing Agreement (Chase Funding Inc), Pooling and Servicing Agreement (Chase Funding Inc), Pooling and Servicing Agreement (Chase Funding Inc)

Duties of Trustee. 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 of all Events of Default that which may have occurred, shall undertake undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default of which a Responsible Officer of the Trustee shall have actual knowledge has occurred and remains uncured(which has not been cured), the Trustee Trustee, subject to the provisions of Sections 7.01, 7.03, 7.04 and 7.05, 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 its exercise as a prudent person would exercise or use under the circumstances in the conduct of such person's own affairs. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that Trustee, which are specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in the form required by this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinioninstrument, report, document, order notice or other instrumentdocument furnished by the Master Servicer or the Servicers hereunder. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Appears in 30 contracts

Samples: Custodial Agreement (Wells Fargo Alternative Loan 2007-Pa2 Trust), Pooling and Servicing Agreement (Wells Fargo Alternative Loan 2007-Pa4 Trust), Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities 2008-Ar2 Trust)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, 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 ’s own affairs. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement shall examine them to determine whether they are in the form required by this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Appears in 25 contracts

Samples: Pooling and Servicing Agreement (Countrywide Home Loans 2005-J8), Pooling and Servicing Agreement (Alternative Loan Trust 2007-Oa9), Pooling and Servicing Agreement (Alternative Loan Trust 2007-Oa10)

Duties of Trustee. The Trustee, prior to the occurrence of an a Servicer Event of Default and after the curing of all Servicer Events of Default that may have occurred, shall undertake undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. In case an During a Servicer Event of Default has occurred and remains uncuredDefault, 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 ’s own affairs. Any permissive right of the Trustee enumerated in this Agreement shall not be construed as a duty. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee it that are specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided. If any such instrument is found not to conform to the requirements of this Agreement in a material manner, however, that the Trustee shall take such action as it deems appropriate to have the instrument corrected, and if the instrument is not be responsible for corrected to its satisfaction, it will provide notice thereof to the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrumentCertificateholders. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Appears in 24 contracts

Samples: Pooling and Servicing Agreement (Asset Backed Pass-Through Certificates, Series 2004-He9), Pooling and Servicing Agreement (Asset Backed Securities Corp), Pooling and Servicing Agreement (Asset Backed Pass-Through Certificates, Series 2005-He1)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing or waiving of all Events of Default that which may have occurred, shall undertake undertakes to perform such duties and only such duties as are specifically set forth specifically in this Agreement. In case an Event of Default has occurred and remains uncuredof which a Responsible Officer has knowledge (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Agreement, Agreement and use the same degree of care and skill in their exercise as a prudent person man would exercise or use under the circumstances in the conduct of such person's his own affairs, unless it is acting as Servicer pursuant to Section 8.03 in which case it will use the same degree of care and skill as the Servicer. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are required specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:: -------- -------

Appears in 11 contracts

Samples: Pooling and Servicing Agreement (Greenpoint Financial Corp), Pooling and Servicing Agreement (Greenpoint Credit LLC), Pooling and Servicing Agreement (Greenpoint Credit LLC)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, 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. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement shall examine them to determine whether they are in the form required by this Agreement; providedPROVIDED, howeverHOWEVER, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; providedPROVIDED, howeverHOWEVER, that:

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Mellon Residential Funding Corp), Pooling and Servicing Agreement (Mellon Residential Funding Corp), Pooling and Servicing Agreement (Mellon Residential Funding Corp)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, 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 Person’s own affairs. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement shall examine them to determine whether they are in the form required by this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (BellaVista Funding CORP), Pooling and Servicing Agreement (BellaVista Mortgage Trust 2004-2), Pooling and Servicing Agreement (BellaVista Mortgage Trust 2005-1)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, 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. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement shall examine them to determine whether they are in the form required by this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:: -------- -------

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc), Exhibit 99 (CWMBS Inc)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default Servicing Termination and after the curing or waiver of all Events of Default that Servicing Termination which may have occurred, shall undertake undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. In case If an Event of Default Servicing Termination has occurred and remains uncured(which has not been cured or waived) of which a Responsible Officer has knowledge, 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 exercise, as a prudent person man would exercise or use under the circumstances in the conduct of such person's his own affairs; provided, however, that if the Trustee is acting as Servicer it shall use the same degree of care and skill as is required of the Servicer under this Agreement. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Greenpoint Mortgage Securities Inc/), Pooling and Servicing Agreement (Banc One Abs Corp)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, 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. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement shall examine them to determine whether they are in the form required by this Agreement; provided, however, that the Trustee shall -------- ------- not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:: -------- -------

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (Cwabs Inc)

Duties of Trustee. The Trustee, prior to the occurrence ----------------- of an Event of Default and after the curing of all Events of Default that which may have occurred, shall undertake to undertakes to, and is empowered to, perform such duties and only such duties as are specifically set forth in this Agreement. In Any permissive right of the Trustee as enumerated in this Agreement shall not be construed as a duty; provided that in case an Event of Default has occurred and remains uncured(which has not been cured), 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 man would exercise or use under the circumstances in the conduct of such personman's own affairs. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own intentional misconduct, and, if the Trustee is acting as the successor Master Servicer pursuant to Section 8.05 or 9.03, its own willful misconductmisconduct with respect to its servicing obligations; provided, however, that:

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (MLCC Mort Inv Inc Mort Loan Asst Bk Pass Thru Cert Se 1997-A), Pooling and Servicing Agreement (MLCC Mortgage Investors Inc)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing or waiving of all Events of Default that which may have occurred, shall undertake undertakes to perform such duties and only such duties as are specifically set forth specifically in this Agreement. In case an Event of Default has occurred and remains uncuredof which a Responsible Officer has knowledge (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Agreement, Agreement and use the same degree of care and skill in their exercise as a prudent person man would exercise or use under the circumstances in the conduct of such person's his own affairs, unless it is acting as Servicer pursuant to Section 8.03 in which case it will use the same degree of care and skill as the Servicer. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are required specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; providedPROVIDED, howeverHOWEVER, that:

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bank of America FSB/Ca), Pooling and Servicing Agreement (Bank of America FSB/Ca)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, 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. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own misconduct, its negligent failure to perform its obligations in compliance with this Agreement, or any liability that would be imposed by reason of its willful misconductmisfeasance or bad faith; provided, however, that:

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc), Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc)

Duties of Trustee. The Trustee, prior to the occurrence of an Event a Servicer Default of Default which a Responsible Officer of the Trustee has actual knowledge and after the curing of all Events of Default that and Servicer Defaults which may have occurred, shall undertake undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default or Servicer Default has occurred of which a Responsible Officer of the Trustee has actual knowledge (and remains uncuredwhich has not been cured), 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 his own affairs. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own bad faith or willful misconduct; provided, provided however, that:

Appears in 2 contracts

Samples: Custodial Agreement (National Auto Finance Co Inc), Pooling and Servicing Agreement (National Auto Finance Co Inc)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that which may have occurred, shall undertake to undertakes to, and is empowered to, perform such duties and only such duties as are specifically set forth in this Agreement. In Any permissive right of the Trustee as enumerated in this Agreement shall not be construed as a duty; provided that in case an Event of Default has occurred and remains uncured(which has not been cured), 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 personman's own affairs. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform on their face to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own intentional misconduct, and, if the Trustee is acting as the successor Servicer pursuant to Section 8.03, its own willful misconductmisconduct with respect to its servicing obligations; provided, however, that:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, 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. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement shall examine them to determine whether they are in the form required by this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own grossly negligent action, its own grossly negligent failure to act or its own willful misconduct; provided, however, that:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Cwabs Inc Mortgage Pass Through Trust 2001-J1)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing or waiving of all Events of Default that which may have occurred, shall undertake undertakes to perform such duties and only such duties as are specifically set forth specifically in this Agreement. In case an Event of Default has occurred and remains uncuredof which a Responsible Officer has knowledge (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Agreement, 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 his own affairs, unless it is acting as Servicer pursuant to Section 8.03 in which case it will use the same degree of care and skill as the Servicer. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are required specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenpoint Credit Man Housing Cont Tr Pas THR Cert Ser 01 1)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default Servicing Termination and after the curing or waiver of all Events of Default that Servicing Termination which may have occurred, shall undertake undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. In case If an Event of Default Servicing Termination has occurred and remains uncured(which has not been cured or waived) of which a Responsible Officer has knowledge, 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 exercise, as a prudent person man would exercise or use under the circumstances in the conduct of such person's his own affairs; provided, however, that if the Trustee is acting as Servicer it shall use the same degree of care and skill as is required of the Servicer under this Agreement. The Trustee, upon receipt of all resolutions, certificatesCertificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc One Abs Corp)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, 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. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement shall examine them to determine whether they are in the form required by this Agreement; provided, however, -------- ------- that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:: -------- -------

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that which may have occurred, shall undertake undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. In case If an Event of Default has occurred and remains uncured(which has not been cured) of which a Responsible Officer of the Trustee has actual knowledge, 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 exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person's his or her own affairs. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in the form required by this Agreement; provided, however, that the Trustee shall will not be responsible for the accuracy or content of any such resolutionresolutions, certificatecertificates, statementstatements, opinionopinions, reportreports, documentdocuments, order orders or other instrumentinstruments. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Union Residential Securitization Transactions Inc)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, 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. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement shall examine them to determine whether they are in the form required by this Agreement; provided, however, that the Trustee shall not be responsible for the -------- ------- accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:: -------- -------

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

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Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default Servicing Termination and after the curing or waiver of all Events of Default that Servicing Termination which may have occurred, shall undertake undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. In case If an Event of Default Servicing Termination has occurred and remains uncured(which has not been cured or waived) of which a Responsible Officer has knowledge, 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 exercise, as a prudent person man would exercise or use under the circumstances in the conduct of such person's his own affairs; provided that if the Trustee is acting as Master Servicer it shall use the same degree of care and skill as is required of the Master Servicer under this Agreement. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, provided that:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Indymac Abs Inc)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, 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. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement shall examine them to determine whether they are in the form required by this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; providedPROVIDED, howeverHOWEVER, that:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mellon Residential Funding Corp Mor Pas THR Cer Ser 01 Tbc1)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that which may have occurred, shall undertake undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. In case If an Event of Default has occurred and remains uncured(which has not been cured) of which a Responsible Officer of the Trustee has actual knowledge, 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 exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person's own affairs. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, 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 personPerson's own affairs. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement shall examine them to determine whether they are in the form required by this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (BellaVista Funding CORP)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing or waiving of all Events of Default that which may have occurred, shall undertake undertakes to perform such duties and only such duties as are specifically set forth specifically in this Agreement. In case an Event of Default has occurred and remains uncuredof which a Responsible Officer has knowledge (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Agreement, Agreement and use the same degree of care and skill in their exercise as a prudent person man would exercise or use under the circumstances in the conduct of such person's his own affairs, unless it is acting as Servicer pursuant to Section 8.03 in which case it will use the same degree of care and skill as the Servicer. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are required specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenpoint Financial Corp)

Duties of Trustee. The Trustee, prior to the occurrence of an a Master Servicer Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an a Master Servicer Event of Default has occurred and remains uncured, 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 ’s own affairs. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement shall examine them to determine whether they are in the form required by this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Etrade Mortgage Backed Securities Corp)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing or waiving of all Events of Default that which may have occurred, shall undertake undertakes to perform such duties and only such duties as are specifically set forth specifically in this Agreement. In case an Event of Default has occurred and remains uncuredof which a Responsible Officer has knowledge (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Agreement, 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 his own affairs, unless it is acting as Servicer pursuant to Section 8.03 in which case it will use the same degree of care and skill as the Servicer. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are required specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:: -------- -------

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenpoint Credit LLC)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, 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. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that are specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in the form required by this Agreement; provided, however, provided that the -------- Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Indymac Abs Inc)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that which may have occurred, shall undertake undertakes to perform such duties and only such duties as are specifically set forth specifically in this Agreement. In case an Event of Default of which a Responsible Officer of the Trustee shall have actual knowledge has occurred and remains uncured(which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Agreement, Agreement and use the same degree of care and skill in their exercise as a prudent person man would exercise or use under the circumstances in the conduct of such person's his own affairs. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are required specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided, however, that the Trustee shall Agreement (but need not be responsible for confirm or investigate the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order mathematical calculations or other instrumentfacts stated therein). No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Vanderbilt Mort & Fi Inc Man Ho Co Se Su Pas Th Ce Se 2000a)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing of all Events of Default that which may have occurred, shall undertake to undertakes to, and is empowered to, perform such duties and only such duties as are specifically set forth in this Agreement. In Any permissive right of the Trustee as enumerated in this Agreement shall not be construed as a duty; provided that in case an Event of Default has occurred and remains uncured(which has not been cured), 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 man would exercise or use under the circumstances in the conduct of such personman's own affairs. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform on their face to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own intentional misconduct, and, if the Trustee is acting as the successor Servicer pursuant to Section 9.03, its own willful misconductmisconduct with respect to its servicing obligations; provided, however, that:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc)

Duties of Trustee. The Trustee, prior to the ----------------- occurrence of an Event of Default and after the curing of all Events of Default that which may have occurred, shall undertake to undertakes to, and is empowered to, perform such duties and only such duties as are specifically set forth in this Agreement. In Any permissive right of the Trustee as enumerated in this Agreement shall not be construed as a duty; provided that in case an Event of Default has occurred and remains uncured(which has not been cured), 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 man would exercise or use under the circumstances in the conduct of such personman's own affairs. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own intentional misconduct, and, if the Trustee is acting as the successor Master Servicer pursuant to Section 8.05 or 9.03, its own willful misconductmisconduct with respect to its servicing obligations; provided, however, that:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (MLCC Mortgage Investors Inc)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing or waiving of all Events of Default that which may have occurred, shall undertake undertakes to perform such duties and only such duties as are specifically set forth specifically in this Agreement. In case an Event of Default has occurred and remains uncuredof which a Responsible Officer has knowledge (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Agreement, 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 his own affairs, unless it is acting as Servicer pursuant to Section 8.03 in which case it will use the same degree of care and skill as the Servicer. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are required specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; providedPROVIDED, howeverHOWEVER, that:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenpoint Credit Manufactured Housing Cont Tru Ser 2001-2)

Duties of Trustee. The Trustee, prior to the occurrence of an Event of Default and after the curing or waiver of all Events of Default that which may have occurred, shall undertake undertakes to perform such duties and only such duties as are specifically set forth specifically in this Agreement. In case an Event of Default has occurred and remains uncured(which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Agreement, Agreement and use the same degree of care and skill in their exercise as a prudent person man would exercise or use under the circumstances in the conduct of such person's his own affairs, except if it is acting as Servicer, in which case it shall use the same degree of care and skill as is required of the Servicer. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that which are required specifically required to be furnished pursuant to any provision of this Agreement Agreement, shall examine them to determine whether they are in conform to the form required by requirements of this Agreement; provided, however, that the Trustee shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document, order or other instrument. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

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