Common use of Duties of Trustees Clause in Contracts

Duties of Trustees. The Trustee, prior to the occurrence of a Servicer Event of Default and after the curing of all Servicer Events of Default which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. During a 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 their 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. The Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee which are specifically required to be furnished pursuant to any provision of this Agreement, shall examine them to determine whether they conform to the requirements of this Agreement. If any such instrument is found not to conform to the requirements of this Agreement in a material manner, the Trustee shall take such action as it deems appropriate to have the instrument corrected, and if the instrument is not corrected to the Trustee’s satisfaction, the Trustee will provide notice thereof to the Certificateholders. No provision of this Agreement shall be construed to relieve the Trustee or Delaware Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Duties of Trustees. The Trustee, prior to the occurrence of a Servicer Event of Default known to the Trustee and after the curing of all Servicer Events of Default which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. During a Servicer Event of DefaultDefault known to the Trustee, 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. 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 which are specifically required to be furnished pursuant to any provision of this Agreement, shall examine them to determine whether they conform to the requirements of this Agreement. If any such instrument is found not to conform to the requirements of this Agreement in a material manner, the Trustee shall take such action as it deems appropriate to have the instrument corrected, and if the instrument is not corrected to the Trustee’s satisfaction, the Trustee will provide notice thereof to the Certificateholders. No provision of this Agreement shall be construed to relieve the Trustee or Delaware Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Duties of Trustees. The TrusteeTrustees, prior to the occurrence of a Servicer an Event of Default and after the curing of all Servicer Events of Default which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Agreement, including without limitation the duties set forth in Sections 5.01 and 6.02. During The Trustees shall act in all instances in accordance with the requirements set forth in the Mortgage Loan documents and shall employ procedures (including collection procedures) and exercise that degree of prudence and care that a Servicer prudent and reasonable trustee would apply. In case an Event of DefaultDefault has occurred (which has not been cured), the Trustee Trustees shall exercise such of the rights and powers vested in it them 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 person’s man's own affairs. Any No permissive right rights of the Trustee enumerated in this Agreement Trustees shall not be construed as a dutymandatory duty of the Trustees. The TrusteeTrustees, upon receipt of all any resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee Trustees which are specifically required to be furnished pursuant to any provision of this Agreement, shall examine them to determine whether they conform to the requirements of this AgreementAgreement and if they are deemed to be deficient, Trustee shall request cure of any such deficiency within a reasonable period of time for such cure. If any such deficiency is not cured to the satisfaction of Trustee, the Trustee may treat the requirement pursuant to which such instrument is found furnished as not to conform to the requirements of this Agreement in a material manner, the Trustee shall take such action as it deems appropriate to have the instrument corrected, and if the instrument is not corrected to the Trustee’s satisfaction, the Trustee will provide notice thereof to the Certificateholdershaving been satisfied. No provision of this Agreement shall be construed to relieve the Trustee or Delaware Trustee Trustees from liability for its their own negligent action, its their own negligent failure to act or its their own willful misconduct; provided, however, that: