Common use of Payment of Trustee's Fees and Expenses; Indemnification Clause in Contracts

Payment of Trustee's Fees and Expenses; Indemnification. (a) The Trustee or any successor Trustee shall be entitled, on each Distribution Date, to the Trustee Fee (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) for all services rendered by the Trustee in the execution of the trusts hereby created and in the exercise and performance of any of the powers and duties hereunder of the Trustee, which Trustee Fee shall be paid to the Trustee prior to the distribution on such Distribution Date of amounts to the Certificateholders. In the event that the Trustee assumes the servicing responsibilities of the Servicer or the Special Servicer hereunder pursuant to or otherwise arising from the resignation or removal of the Servicer or the Special Servicer, the Trustee shall be entitled to the compensation to which the Servicer or the Special Servicer, as the case may be, would have been entitled.

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (Amresco Commercial Mortgage Funding I Corp), Pooling and Servicing Agreement (Asset Securitization Corp Com Mor Ps THR Cert Ser 1999-C2), Pooling and Servicing Agreement (Asset Securitization Corp)

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Payment of Trustee's Fees and Expenses; Indemnification. (a) The Trustee or any successor Trustee shall be entitled, on each Distribution Date, to the Trustee Fee (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) for all services rendered by the Trustee in the execution of the trusts hereby created and in the exercise and performance of any of the powers and duties hereunder of the Trustee, which Trustee Fee shall be paid to the Trustee prior to the distribution on such Distribution Date of amounts to the CertificateholdersCertificateholders from funds available therefor pursuant to Section 3.06(v). In the event that the Trustee assumes the servicing responsibilities of the Master Servicer or the Special Servicer hereunder pursuant to or otherwise arising from the resignation or removal of the Master Servicer or the Special Servicer, the Trustee shall be entitled to the compensation to which the Master Servicer or the Special Servicer, as the case may be, would have been entitledentitled except as expressly provided in Section 3.25(b).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Amresco Commercial Mortgage Funding I Corp), Pooling and Servicing Agreement (Icifc Secured Assets Corp)

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Payment of Trustee's Fees and Expenses; Indemnification. (a) The Trustee or any successor Trustee shall be entitled, on each Distribution Date, to the Trustee Fee (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) for all services rendered by the Trustee in the execution of the trusts hereby created and in the exercise and performance of any of the powers and duties hereunder of the Trustee, which Trustee Fee shall be paid to the Trustee prior to the distribution on such Distribution Date of amounts to the Certificateholders. In the event that the Trustee assumes the servicing responsibilities of the Servicer, the Co-Servicer or the Special Servicer hereunder pursuant to or otherwise arising from the resignation or removal of the Servicer, the Co-Servicer or the Special Servicer, the Trustee shall be entitled to the compensation to which the Servicer, the Co-Servicer or the Special Servicer, as the case may be, would have been entitled.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capco America Securitization Corp)

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