Common use of Indemnification with Respect to Certain Taxes and Loss of REMIC Status Clause in Contracts

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution Parties, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties now or hereafter existing at law or in equity or otherwise. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.

Appears in 36 contracts

Samples: Correspondent Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-22), Correspondent Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Mortgage Pass-Through Certificates, Series 2004-15), Correspondent Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Mortgage Pass-Through Certificates, Series 2004-14)

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Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time formed hereunder fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Holder of the related Residual Certificate against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Residual Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 22 contracts

Samples: Pooling and Servicing Agreement (C-Bass Mortgage Loan Asset Backed Certificates, Series 2007-Cb4), Pooling and Servicing Agreement (C-Bass Mortgage Loan Asset-Backed Series 2006-Cb4), Pooling and Servicing Agreement (Asset Backed Funding Corp)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Residual Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 14 contracts

Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-Opt1), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ff4), Pooling and Servicing Agreement (Financial Asset Sec Corp Fremont Home Ln Tr 2003-2)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties any such Person on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 10 contracts

Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp Asset Back Cert Ser 2003-1), Pooling and Servicing Agreement (Financial Asset Sec Corp Asset-Backed Certs Series 2004-1), Pooling and Servicing Agreement (Meritage Mortgage Loan Trust 2005-1 Asset-Backed Certificates, Series 2005-1)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time formed hereunder fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Master Servicer of its duties and obligations set forth herein, the Master Servicer shall indemnify the Reconstitution Parties Holder of the Class R Certificate against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Master Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of the Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of the Class R Certificate on which the Master Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of the Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Master Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Master Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 9 contracts

Samples: Pooling and Servicing Agreement (Asset Backed Funding Corp. ABFC Asset Backed Certificates Series 2004-Opt3), Pooling and Servicing Agreement (Abfc Asset-Backed Certificates Series 2004-Opt1), Pooling and Servicing Agreement (Asset Backed Funding Corp Abfc Asst BCKD Cert Ser 2002-Opt1)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction negligence of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class R Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Home Equity Pass Through Certificates Series 2003-3), Pooling and Servicing Agreement (Home Equity Pass Through Certificates Series 2002-4), Pooling and Servicing Agreement (Home Equity Asset Trust 2002-3)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the a Servicer of its duties and obligations set forth herein, the that Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that none of the Servicer Servicers shall not be liable for any such Losses attributable to the action or inaction negligence of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class R Certificate on which the such Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the a Servicer have any liability (1) for any action or omission that is taken by it in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the such Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Home Equity Asset Trust 2006-8), Pooling and Servicing Agreement (Home Equity Asset Trust 2006-7), Pooling and Servicing Agreement (Home Equity Asset Trust 2007-1)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of the Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties any such Person on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ff5), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ff11 Asset-Backed Certificates, Series 2004-Ff11), Pooling and Servicing Agreement (Financial Asset Secs Corp Asset Backed Cert Sers 2003 Ff5)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction negligence of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class R Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken by it in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (CSMC Asset-Backed Trust 2007-Nc1), Pooling and Servicing Agreement (CSMC Asset-Backed Trust 2007-Nc1), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time formed hereunder fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Holder of the Class R Certificate against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of the Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of the Class R Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of the Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Abfc Asset-Backed Certificates Series 2003-Wmc1), Pooling and Servicing Agreement (ABFC Asset-Backed Certificates, Series 2005-He2), Pooling and Servicing Agreement (Abfc Asset Backed Certificates Series 2003-Ahl1)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Residual Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Ns1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-3), Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Wmc1)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the a Servicer of its duties and obligations set forth herein, the that Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the no Servicer shall not be liable for any such Losses attributable to the action or inaction negligence of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class R Certificate on which the such Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the a Servicer have any liability (1) for any action or omission that is taken by it in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the such Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 3 contracts

Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement (CFSB Mor Sec Corp Home Equity Asset Trust 2004-1), Pooling and Servicing Agreement (Credit Suisse First Boston Mort Sec Home Equity Asset 2004-2)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Holder of the related Residual Certificates against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Residual Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 3 contracts

Samples: Distribution Instructions (C-Bass Mortgage Loan Trust 2007-Cb3), Distribution Instructions (Citigroup Mortgage Loan Trust Inc), Distribution Instructions (Citigroup Mortgage Loan Trust, Series 2005-Cb8, C-Bass Mortgage Loan Asset-Backed Certificates)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the a Servicer of its duties and obligations set forth herein, the that Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer neither Servicers shall not be liable for any such Losses attributable to the action or inaction negligence of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class R Certificate on which the such Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the either Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the such Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (CSFB Mortgage Pass Through Certificates Series 2002 He4), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time formed hereunder fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Holder of a Residual Certificate against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of a Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of a Residual Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of a Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (ABFC 2006-Opt1 Trust), Pooling and Servicing Agreement (ABFC 2006-Opt3 Trust)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the a Servicer of its duties and obligations set forth herein, the that Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer neither Servicers shall not be liable for any such Losses attributable to the action or inaction negligence of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class R Certificate on which the such Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the either Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the such Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Home Equity Asset Trust 2002-2), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the a Servicer of its duties and obligations set forth herein, the that Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction negligence of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class R Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.damages to Certificateholders (in addition to payment of principal and interest on the Certificates). 110

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (CSFB Abs Trust Series 2001-He22), Pooling and Servicing Agreement (CSFB Mortgage Pass Through Certificates Series 2001-He16)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties any such Person on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.damages to Certificateholders (in addition to payment of principal and interest on the Certificates). 130

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp First Franklin Mort Ln Tr 03 Ff1), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2003-Ff2)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Master Servicer of its duties and obligations set forth herein, the Master Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Master Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class R Certificate on which the Master Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Master Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Master Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp First Franklin Mort Ln Tr 2000 Ff1), Pooling and Servicing Agreement (Financial Asset Sec Corp Asset Backed Certs Series 2001 Ff1)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the a Servicer of its duties and obligations set forth herein, the that Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the no Servicer shall not be liable for any such Losses attributable to the action or inaction negligence of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class R Certificate on which the such Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the a Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the such Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (CSFB Home Equity Pass Through Certs Ser 2003-4), Pooling and Servicing Agreement (CSFB Mortgage Sec Corp Home Eq Asset Trust 2003-6)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of the Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties any such Person on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.damages to Certificateholders (in addition to payment of principal and interest on the Certificates). 155

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp First Franklin Mortgage Loan Trust 2004-Ffh3)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time formed hereunder fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Holder of a Residual Certificate against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of a Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of a Residual Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of a Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ABFC Asset-Backed Certificates, Series 2005-Wmc1)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Residual Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.damages to Certificateholders (in addition to payment of principal and interest on the Certificates). 143

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Secs Corp First Franklin Mort Ln Tr 2002-Ff4)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties any such Person on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.damages to Certificateholders (in addition to payment of principal and interest on the Certificates). 134

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Equifirst Mortgage Loan Trust 2005-1)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any Trust REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Master Servicer of its duties and obligations set forth herein, the Master Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Master Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class R Certificate on which the Master Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Master Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Master Servicer of its duties and obligations set forth herein, and (3) for any special special, consequential or consequential damagespunitive damages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp New South Home Equity Trust 2001-1)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Residual Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.damages to Certificateholders (in addition to payment of principal and interest on the Certificates). 139

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp Finance Amer Mo Ln Tr 2003-1)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of the Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties any such Person on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.damages to Certificateholders (in addition to payment of principal and interest on the Certificates). 148

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Asset Back Certs Ser 2003 Ffh2)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Residual Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a 154 negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ffh4)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the a Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction negligence of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Class AR Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class AR Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class AR Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 1 contract

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

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties any such Person on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.damages to Certificateholders (in addition to payment of principal and interest on the Certificates). 151

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Finance America Mortgage Loan Trust 2004-3)

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Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer Trustee of its duties and obligations set forth herein, the Servicer Trustee shall indemnify the Reconstitution Parties Holder of the Residual Certificate against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer Trustee shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesDepositor, or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Residual Certificate on which the Servicer Trustee has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer Trustee have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses losses other than arising out of a negligent performance by the Servicer Trustee of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 1 contract

Samples: Trust Agreement (Structured Asset Securities Corp)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Master Servicer of its duties and obligations set forth herein, the Master Servicer shall indemnify the Reconstitution Parties Holder of the Residual Certificate against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Master Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Residual Certificate on which the Master Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Master Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Master Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Funding Corp)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of the Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties any such Person on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.damages to Certificateholders (in addition to payment of principal and interest on the Certificates). 134

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Asset Backed Cert Ser 2003 Ffh1)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer Securities Administrator of its duties and obligations set forth herein, the Servicer Securities Administrator shall indemnify the Reconstitution Parties Issuer against any and all losses, claims, damages, liabilities or expenses ("Losses") losses resulting from such negligence; provided, however, that the Servicer Securities Administrator shall not be liable for any such Losses losses attributable to the action or inaction of the Reconstitution PartiesIssuer, the Servicer, the Depositor or the Holder of a Class G or Class R Certificate, as applicable, nor for any such Losses losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class G or Class R Certificate on which the Servicer Securities Administrator has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class G or Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer Securities Administrator have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this AgreementIndenture, (2) for any Losses losses other than arising out of a negligent performance by the Servicer Securities Administrator of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Noteholders (in addition to payment of principal and interest on the Notes).

Appears in 1 contract

Samples: Sale and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Gp1)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of the Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties any such Person on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.damages to Certificateholders (in addition to payment of principal and interest on the Certificates). 138

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ff2)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the a Servicer of its duties and obligations set forth herein, the that Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer neither Servicers shall not be liable for any such Losses attributable to the action or inaction negligence of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class R Certificate on which the such Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the either Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the such Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.damages to Certificateholders (in addition to payment of principal and interest on the Certificates). 117

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Pass Through Certificates Series 2001-He1)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties any such Person on 137 which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2003-FFC)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trust Fund and the Guarantor against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Residual Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Asset Funding Corp)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Holder of the related Residual Certificates against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Residual Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc C-Bass Mortgage Loan Asset-Backed Certificates, Series 2004-Cb7)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time formed hereunder fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the a Servicer of its duties and obligations set forth herein, the such Servicer shall indemnify the Reconstitution Parties Holder of the Class R Certificate against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the such Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of the Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of the Class R Certificate on which the such Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of the Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the a Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the such Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.and

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mid State Capital Corp)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited -44- transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution Parties, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties now or hereafter existing at law or in equity or otherwise. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.

Appears in 1 contract

Samples: Correspondent Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction negligence of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class R Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Pass-Thru Cert Series 2001-He17)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Residual Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.damages to Certificateholders (in addition to payment of principal and interest on the Certificates). 138

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp Asset Backed Certs Ser 2003-1)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. (a) In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Residual Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a 161 negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2004-4)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the a Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction negligence of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Class AR Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class AR Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class AR Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.damages to Certificateholders (in addition to payment of principal and interest on the Certificates). 105

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Abs Trust Series 2001 He12)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the a Servicer of its duties and obligations set forth herein, the Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction negligence of the Reconstitution PartiesTrustee, the Depositor or the Holder of the Class AR Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of the Class AR Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of the Class AR Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 1 contract

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

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer Trustee of its duties and obligations set forth herein, the Servicer Trustee shall indemnify the Reconstitution Parties Holder of the related Residual Certificate against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer Trustee shall not be liable for any such Losses attributable to the action or inaction of the Reconstitution PartiesDepositor, or the Holder of such Residual Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Residual Certificate on which the Servicer Trustee has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Residual Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer Trustee have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses losses other than arising out of a negligent performance by the Servicer Trustee of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 1 contract

Samples: Trust Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 1999 1)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the that Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction negligence of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class R Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damages.damages to Certificateholders (in addition to payment of principal and interest on the Certificates). 107

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Pass Through Certificates Series 2001 He20)

Indemnification with Respect to Certain Taxes and Loss of REMIC Status. In the event that any REMIC under which any of the Mortgage Loans are held from time to time fails to qualify as a REMIC, loses its status as a REMIC, or incurs federal, state or local taxes as a result of a prohibited transaction or prohibited contribution under the REMIC Provisions due to the negligent performance by the Servicer of its duties and obligations set forth herein, the that Servicer shall indemnify the Reconstitution Parties Trustee and the Trust Fund against any and all losses, claims, damages, liabilities or expenses ("Losses") resulting from such negligence; provided, however, that the Servicer shall not be liable for any such Losses attributable to the action or inaction negligence of the Reconstitution PartiesTrustee, the Depositor or the Holder of such Class R Certificate, as applicable, nor for any such Losses resulting from misinformation provided by the Reconstitution Parties Holder of such Class R Certificate on which the Servicer has relied. The foregoing shall not be deemed to limit or restrict the rights and remedies of the Reconstitution Parties Holder of such Class R Certificate now or hereafter existing at law or in equity or otherwiseequity. Notwithstanding the foregoing, however, in no event shall the Servicer have any liability (1) for any action or omission that is taken in accordance with and in compliance with the express terms of, or which is expressly permitted by the terms of, this Agreement, (2) for any Losses other than arising out of a negligent performance by the Servicer of its duties and obligations set forth herein, and (3) for any special or consequential damagesdamages to Certificateholders (in addition to payment of principal and interest on the Certificates).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mort Sec Corp Home Eq as Tr 03-5)

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