Common use of Duties of Trustees Clause in Contracts

Duties of Trustees. (a) The Trustee, prior to the occurrence of an Event of Default hereunder or under the Countrywide Agreement and after the curing of all Events of Default which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default hereunder or under the Countrywide Agreement has occurred (which has not been cured or waived) the Trustee shall exercise such of the rights and powers vested in it by this Agreement or the Countrywide Agreement, as applicable, 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.