Common use of Liability of the Company and the Master Servicer Clause in Contracts

Liability of the Company and the Master Servicer. The Company and the Master Servicer each shall be liable in accordance herewith only to the extent of the obligations specifically imposed upon and undertaken by the Company and the Master Servicer herein. Only the Master Servicer, any successor master servicer or the Trustee acting as successor master servicer shall be liable with respect to the master servicing of the Mortgage Loans and the REO Property for actions taken by any such Person in contravention of the Master Servicer’s duties hereunder. The Master Servicer shall indemnify the Company, the Trustee and any director, officer, employee or agent of the Company or the Trustee against any such claim or legal action (including any pending or threatened claim or legal action), loss, liability, fee or expense that may be sustained in connection with this Agreement related to the willful misfeasance, bad faith, or negligence in the performance of the Master Servicer’s duties hereunder.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2006-3), Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2006-4), Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2006-3)

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