Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the Rating Agencies, as evidenced by a letter from the Rating Agencies. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 22 contracts
Samples: Distribution Instructions (Citigroup Mortgage Loan Trust Inc), Distribution Instructions (Citigroup Mortgage Loan Trust Inc., Series 2005-5), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2006-4)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Certificate Insurer, the Trustee or the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the successor trustee or trust administrator all Mortgage Files and related documents and statementsstatements to the extent held by it hereunder, as well as all moneys, held by it hereunder hereunder, and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to the Certificate Insurer and to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor. Notwithstanding anything to the contrary contained herein, so long as no Certificate Insurer Default has occurred and is continuing, the appointment of any successor trustee or trust administrator pursuant to any provision of this Agreement will be subject to the prior written consent of the Certificate Insurer.
Appears in 12 contracts
Samples: Pooling and Servicing Agreement (Park Place Securities, Inc.), Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the successor trustee or trust administrator all Mortgage Files and related documents and statementsstatements to the extent held by it hereunder, as well as all moneys, held by it hereunder hereunder, and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Fl Rte Pas THR Ce Se 1999 Nc3), Pooling and Servicing Agreement (Salomon Broth Mo Se Vii Inc Fl Rt Mor Pa Th Cer Ser 1999 Nc2), Pooling and Servicing Agreement (Salomon Brothers Mor Sec Vii Inc Mor Pa THR Cer Ser 1999 Nc1)
Successor Trustee or Trust Administrator. Any successor trustee Trustee or trust administrator Trust Administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or NIMS Insurer, the Trust Administrator, as applicable, Master Servicer and to its predecessor trustee Trustee or trust administrator Trust Administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or trust administrator Trust Administrator shall become effective effective, and such successor trustee Trustee or trust administratorTrust Administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee Trustee or trust administrator hereinTrust Administrator. The predecessor trustee or trust administrator shall deliver to the successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder and the Depositor and the predecessor trustee Trustee or trust administrator Trust Administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator Trustee Trust Administrator all such rights, powers, duties and obligations. No successor trustee Trustee or trust administrator Trust Administrator shall accept appointment as provided in this Section 8.08 unless at the time of such acceptance such successor trustee Trustee or trust administrator Trust Administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee Trustee or trust administrator Trust Administrator shall not result in a downgrading of any Class of the Regular Certificates by the any Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee Trustee or trust administrator Trust Administrator as provided in this SectionSection 8.08, the Depositor successor Trustee or Trust Administrator shall mail notice of the succession appointment of such trustee a successor Trustee or trust administrator Trust Administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails Register and to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositoreach Rating Agency.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2005-Wf1), Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2005-He1), Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mastr as Bk Sec Tr 2004 Wmc1)
Successor Trustee or Trust Administrator. Any successor trustee Trustee or trust administrator Trust Administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, Servicer and to its predecessor trustee Trustee or trust administrator Trust Administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or trust administrator Trust Administrator shall become effective effective, and such successor trustee Trustee or trust administratorTrust Administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee Trustee or trust administrator hereinTrust Administrator. The predecessor trustee or trust administrator shall deliver to the successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder and the Depositor and the predecessor trustee Trustee or trust administrator Trust Administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator Trustee Trust Administrator all such rights, powers, duties and obligations. No successor trustee Trustee or trust administrator Trust Administrator shall accept appointment as provided in this Section 8.08 unless at the time of such acceptance such successor trustee Trustee or trust administrator Trust Administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee Trustee or trust administrator Trust Administrator shall not result in a downgrading of any Class of the Regular Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee Trustee or trust administrator Trust Administrator as provided in this SectionSection 8.08, the Depositor successor Trustee or Trust Administrator shall mail notice of the succession appointment of such trustee a successor Trustee or trust administrator Trust Administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails Register and to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositoreach Rating Agency.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Salomon Brots Mort Sec Vii Inc Citigroup Mort Ln Tr 03 Hyb1), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc Series 2004-Hyb3), Assignment, Assumption and Recognition Agreement (Citigroup Mortgage Loan Trust Series 2004-Hyb2)
Successor Trustee or Trust Administrator. Any successor trustee Trustee or trust administrator Trust Administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, and to its predecessor trustee Trustee or trust administrator Trust Administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or trust administrator Trust Administrator shall become effective and such successor trustee Trustee or trust administratorTrust Administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee Trustee or trust administrator Trust Administrator herein. The predecessor trustee Trustee or trust administrator Trust Administrator shall deliver to the successor trustee Trustee or trust administrator Trust Administrator all Mortgage Files and related documents and statementsstatements to the extent held by it hereunder, as well as all moneys, held by it hereunder hereunder, and the Depositor and the predecessor trustee Trustee or trust administrator Trust Administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee Trustee or trust administrator Trust Administrator all such rights, powers, duties and obligations. No successor trustee Trustee or trust administrator Trust Administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee Trustee or trust administrator Trust Administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee Trustee or trust administrator Trust Administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee Trustee or trust administrator Trust Administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee Trustee or trust administrator Trust Administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee Trustee or trust administratorTrust Administrator, the successor trustee Trustee or trust administrator Trust Administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Salomon Brothers Mor Sec Vii Inc Mor Pa THR Ce Se 2001-2), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Series 2004-Hyb1), Distribution Instructions (Citigroup Mortgage Loan Trust Series 2003 Ust-1)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, Depositor and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administratorsuccessor, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the its successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a custodian, if any, which custodian shall become the agent of any successor trustee hereunder), and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administratorsuccessor, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (SunTrust Mortgage Securitization, LLC), Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-A), Pooling and Servicing Agreement (Gs Mortgage Securities Corp Fremont Home Loan Trust 2004-A)
Successor Trustee or Trust Administrator. Any successor trustee Trustee or trust administrator Trust Administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the and to its predecessor Trustee or the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or trust administrator Trust Administrator shall become effective and such successor trustee Trustee or trust administratorTrust Administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee Trustee or trust administrator Trust Administrator herein. The predecessor trustee Trustee or trust administrator Trust Administrator shall deliver to the successor trustee Trustee or trust administrator Trust Administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a Custodian, which Custodian shall become the agent of any successor Trustee hereunder), and the Depositor and the predecessor trustee Trustee or trust administrator Trust Administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee Trustee or trust administrator Trust Administrator all such rights, powers, duties and obligations. No successor trustee Trustee or trust administrator Trust Administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee Trustee or trust administrator Trust Administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee Trustee or trust administrator Trust Administrator shall not result in a downgrading of any of the NIM Notes or any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee Trustee or trust administrator Trust Administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee Trustee or trust administrator Trust Administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee Trustee or trust administratorTrust Administrator, the successor trustee Trustee or trust administrator Trust Administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Long Beach Securities Corp Asset Backed Cert Ser 2002 2), Pooling and Servicing Agreement (Long Beach Mort Loan Trust 2002-1as Back Cert Ser 2002-1)
Successor Trustee or Trust Administrator. Any successor trustee Trustee or trust administrator Trust Administrator appointed as provided in Section 8.07 9.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, Servicer and to its predecessor trustee Trustee or trust administrator Trust Administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or trust administrator Trust Administrator shall become effective effective, and such successor trustee Trustee or trust administratorTrust Administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee Trustee or trust administrator hereinTrust Administrator. The predecessor trustee or trust administrator shall deliver to Depositor, the successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder and the Depositor Servicer and the predecessor trustee Trustee or trust administrator Trust Administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator Trustee Trust Administrator all such rights, powers, duties and obligations. No successor trustee Trustee or trust administrator Trust Administrator shall accept appointment as provided in this Section 9.08 unless at the time of such acceptance such successor trustee Trustee or trust administrator Trust Administrator shall be eligible under the provisions of Section 8.06 9.06 and the appointment of such successor trustee Trustee or trust administrator Trust Administrator shall not result in a downgrading of any Class of the Regular Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee Trustee or trust administrator Trust Administrator as provided in this SectionSection 9.08, the Depositor successor Trustee or Trust Administrator shall mail notice of the succession appointment of such trustee a successor Trustee or trust administrator Trust Administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails Register and to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositoreach Rating Agency.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2004-B), Pooling and Servicing Agreement (Financial Asset Sec Corp Fremont Home Loan Trust 2003 A)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, Depositor and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administratorsuccessor, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the its successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a custodian, if any, which custodian shall become the agent of any successor trustee hereunder), and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administratorsuccessor, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.. Fremont [200___-___] Pooling & Servicing Agreement 162
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Fremont Mortgage Securities Corp), Pooling and Servicing Agreement (Fremont Mortgage Securities Corp)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the Rating Agencies, as evidenced by a letter from the Rating Agencies. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor. Any Person appointed as successor trustee pursuant to Section 8.08 shall also be required to serve as successor Cap Trustee under the Interest Rate Cap Agreement and the Cap Administration Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Wfhe2)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the Rating AgenciesAgency, as evidenced by a letter from the Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Inc Mort Pas Th Ce Ser 2000-1)
Successor Trustee or Trust Administrator. Any successor trustee Trustee or trust administrator Trust Administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the and to its predecessor Trustee or the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or trust administrator Trust Administrator shall become effective and such successor trustee Trustee or trust administratorTrust Administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee Trustee or trust administrator Trust Administrator herein. The predecessor trustee Trustee or trust administrator Trust Administrator shall deliver to the successor trustee Trustee or trust administrator Trust Administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a Custodian, which Custodian shall become the agent of any successor Trustee hereunder), and the Depositor and the predecessor trustee Trustee or trust administrator Trust Administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee Trustee or trust administrator Trust Administrator all such rights, powers, duties and obligations. No successor trustee Trustee or trust administrator Trust Administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee Trustee or trust administrator Trust Administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee Trustee or trust administrator Trust Administrator shall not result in a downgrading of any of the NIM Notes or any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee Trustee or trust administrator Trust Administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee Trustee or trust administrator Trust Administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee Trustee or trust administratorTrust Administrator, the successor trustee Trustee or trust administrator Trust Administrator shall cause such notice to be mailed at the expense of the Depositor.. 170
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Sec Corp Asset Backed Cert Ser 2002 3)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the NIMs Insurer, the Trustee or the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administratortrustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a Custodian, which Custodian shall become the agent of any successor trustee hereunder), and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. 126 No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Floating Rate Mortgage Pass-Through Cert-Series 2001-2)
Successor Trustee or Trust Administrator. Any successor trustee Trustee or trust administrator Trust Administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the NIMS Insurer, the Depositor, the Trustee or Servicer, the Trust Administrator, as applicable, Master Servicer and to its predecessor trustee Trustee or trust administrator Trust Administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or trust administrator Trust Administrator shall become effective effective, and such successor trustee Trustee or trust administratorTrust Administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee Trustee or trust administrator hereinTrust Administrator. The predecessor trustee or trust administrator shall deliver to Depositor, the successor trustee or trust administrator all Mortgage Files and related documents and statementsMaster Servicer, as well as all moneys, held by it hereunder and the Depositor Servicer and the predecessor trustee Trustee or trust administrator Trust Administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator Trustee Trust Administrator all such rights, powers, duties and obligations. No successor trustee Trustee or trust administrator Trust Administrator shall accept appointment as provided in this Section 8.08 unless at the time of such acceptance such successor trustee Trustee or trust administrator Trust Administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee Trustee or trust administrator Trust Administrator shall not result in a downgrading of any Class of the Regular Certificates by the any Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee Trustee or trust administrator Trust Administrator as provided in this SectionSection 8.08, the Depositor successor Trustee or Trust Administrator shall mail notice of the succession appointment of such trustee a successor Trustee or trust administrator Trust Administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails Register and to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositoreach Rating Agency.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-2)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee Trustee, the Certificate Insurer or the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the Rating Agencies, as evidenced by a letter from the Rating Agencies. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, Depositor and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administratorsuccessor, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the its successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a custodian, if any, which custodian shall become the agent of any successor trustee hereunder), and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such Fremont 2004-D Pooling & Servicing Agreement other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administratorsuccessor, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Mortgage Securities Corp)
Successor Trustee or Trust Administrator. Any successor trustee Trustee or trust administrator Trust Administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, and to its predecessor trustee Trustee or trust administrator Trust Administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or trust administrator Trust Administrator shall become effective and such successor trustee Trustee or trust administratorTrust Administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee Trustee or trust administrator Trust Administrator herein. The predecessor trustee Trustee or trust administrator Trust Administrator shall deliver to the successor trustee Trustee or trust administrator Trust Administrator all Mortgage Files and related documents and statementsstatements to the extent held by it hereunder, as well as all moneys, held by it hereunder hereunder, and the Depositor and the predecessor trustee Trustee or trust administrator Trust Administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee Trustee or trust administrator Trust Administrator all such rights, powers, duties and obligations. No successor trustee Trustee or trust administrator Trust Administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee Trustee or trust administrator Trust Administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee Trustee or trust administrator Trust Administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee Trustee or trust administrator Trust Administrator, as provided in this Section, the Depositor shall mail notice of the succession of such trustee Trustee or trust administrator Trust Administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee Trustee or trust administratorTrust Administrator, the successor trustee Trustee or trust administrator Trust Administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (New Century Home Equity Loan Trust Series 2002-1)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust AdministratorNIM Insurer, as applicableif any, and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administratorsuccessor, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the its successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a custodian, if any, which custodian shall become the agent of any successor trustee hereunder), and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a Fremont 2006-D Pooling & Servicing Agreement 189 downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to the NIM Insurer, if any, and all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administratorsuccessor, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-D)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the successor trustee or trust administrator all Mortgage Files and related documents and statementsstatements to the extent held by it hereunder, as well as all moneys, held by it hereunder hereunder, and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.Certificate
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ace Securities Corp Ho Eq Lo Tr Se 2001-Nc1 as Ba Pa Th Ce)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the DepositorTrustee, the Trustee or the Trust Administrator, as applicablethe Depositor, the Certificate Insurer and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder hereunder, and the Depositor and the predecessor trustee or and trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading or withdrawal of the rating of any Class of Class A Certificates (including any shadow rating thereof) by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to the Certificate Insurer, the Rating Agencies and to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor. Notwithstanding anything to the contrary contained herein, so long as no Certificate Insurer Default has occurred and is continuing, the appointment of any successor trustee or trust administrator pursuant to any provision of this Agreement will be subject to the prior written consent of the Certificate Insurer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the NIMS Insurer, the Trustee or the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator administrator, as applicable, shall become effective and such successor trustee or trust administrator, as applicable, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator administrator, as applicable, shall deliver to the successor trustee or trust administrator administrator, as applicable, all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a Custodian, which Custodian shall become the agent of any successor trustee or trust administrator hereunder), and the Depositor and the predecessor trustee or trust administrator administrator, as applicable, shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator administrator, as the case may be, all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator administrator, as the case may be, shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Ass Bk Pas THR Certs Ser 2002 2)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the NIMS Insurer, the Trustee or the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator administrator, as applicable, shall become effective and such successor trustee or trust administrator, as applicable, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator administrator, as applicable, shall deliver to the successor trustee or trust administrator 143 administrator, as applicable, all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a Custodian, which Custodian shall become the agent of any successor trustee or trust administrator hereunder), and the Depositor and the predecessor trustee or trust administrator administrator, as applicable, shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator administrator, as the case may be, all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator administrator, as the case may be, shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc as-Bk Ps-Th Ct Sr 2002-1)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, Depositor and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administratorsuccessor, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the its successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a custodian, if any, which custodian shall become the agent of any successor trustee hereunder), and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such Fremont 2006-C Pooling & Servicing Agreement 187 other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administratorsuccessor, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-C)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust AdministratorNIM Insurer, as applicableif any, and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administratorsuccessor, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the its successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a custodian, if any, which custodian shall become the agent of any successor trustee hereunder), and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to the NIM Insurer, if any, and all Holders of Certificates at their addresses as shown in the Certificate Register. If the Fremont 2006-E Pooling & Servicing Agreement 174 Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administratorsuccessor, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-E)
Successor Trustee or Trust Administrator. Any successor trustee Trustee or trust administrator Trust Administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the and to its predecessor Trustee or the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or trust administrator Trust Administrator shall become effective and such successor trustee Trustee or trust administratorTrust Administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee Trustee or trust administrator Trust Administrator herein. The predecessor trustee Trustee or trust administrator Trust Administrator shall deliver to the successor trustee Trustee or trust administrator Trust Administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a Custodian, which Custodian shall become the agent of any successor Trustee hereunder), and the Depositor and the predecessor trustee Trustee or trust administrator Trust Administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee Trustee or trust administrator Trust Administrator all such rights, powers, duties and obligations. No successor trustee Trustee or trust administrator Trust Administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee Trustee or trust administrator Trust Administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee Trustee or trust administrator Trust Administrator shall not result in a downgrading of the NIM Notes or any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee Trustee or trust administrator Trust Administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee Trustee or trust administrator Trust Administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee Trustee or trust administratorTrust Administrator, the successor trustee Trustee or trust administrator Trust Administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Mort Loan Tr 2001-4 as Bk Cert Ser 2001-4)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, Depositor and to its predecessor trustee or trust administrator an instrument accepting such appointment 148 hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administratorsuccessor, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the its successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a custodian, if any, which custodian shall become the agent of any successor trustee hereunder), and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administratorsuccessor, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Mortgage Securities Corp)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the NIMS Insurer, the Trustee or the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator administrator, as applicable, shall become effective and such successor trustee or trust administrator, as applicable, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator administrator, as applicable, shall deliver to the successor trustee or trust administrator administrator, as applicable, all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a Custodian, which Custodian shall become the agent of any successor trustee or trust administrator hereunder), and the Depositor and the predecessor trustee or trust administrator administrator, as applicable, shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator administrator, as the case may be, all such rights, powers, duties and obligations. 148 No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator administrator, as the case may be, shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Asset Backed Pass Through Certificates 2002-3)
Successor Trustee or Trust Administrator. Any successor trustee Trustee or trust administrator Trust Administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or NIMS Insurer, the Trust AdministratorServicers, as applicable, the Master Servicer and to its predecessor trustee Trustee or trust administrator Trust Administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or trust administrator Trust Administrator shall become effective effective, and such successor trustee Trustee or trust administratorTrust Administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee Trustee or trust administrator hereinTrust Administrator. The predecessor trustee or trust administrator shall deliver to the successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder and the Depositor and the predecessor trustee Trustee or trust administrator Trust Administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee Trustee or trust administrator Trust Administrator all such rights, powers, duties and obligations. No successor trustee Trustee or trust administrator Trust Administrator shall accept appointment as provided in this Section 8.08 unless at the time of such acceptance such successor trustee Trustee or trust administrator Trust Administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee Trustee or trust administrator Trust Administrator shall not result in a downgrading of any Class of the Regular Certificates by the any Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee Trustee or trust administrator Trust Administrator as provided in this SectionSection 8.08, the Depositor successor Trustee or Trust Administrator shall mail notice of the succession appointment of such trustee a successor Trustee or trust administrator Trust Administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails Register and to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositoreach Rating Agency.
Appears in 1 contract
Samples: Assignment and Recognition Agreement (Mastr Asset Backed Securities Trust 2006-He1)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, Depositor and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administratorsuccessor, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the its successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a custodian, if any, which custodian shall become the agent of any successor trustee hereunder), and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Fremont 2005-A Pooling & Servicing Agreement 140 Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administratorsuccessor, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Mortgage Securities Corp)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, Depositor and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administratorsuccessor, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the its successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a custodian, if any, which custodian shall become the agent of any successor trustee hereunder), and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. 187 Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administratorsuccessor, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Mortgage Securities Corp)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the NIMS Insurer, the Trustee or and the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator administrator, as applicable, an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator administrator, as applicable, shall become effective and such successor trustee or trust administrator, as applicable, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee Trustee or trust administrator Trust Administrator herein. The predecessor trustee or trust administrator shall deliver to the successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a Custodian, which Custodian shall become the agent of any successor trustee hereunder), and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator administrator, as the case may be, all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator administrator, as the case may be, shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the each Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. 174 Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, Depositor and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administratorsuccessor, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the its successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a custodian, if any, which custodian shall become the agent of any successor trustee hereunder), and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at Fremont 2006-B Pooling & Servicing Agreement 246 their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administratorsuccessor, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-B)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the successor trustee or trust administrator all Mortgage Files and related documents and statementsstatements to the extent held by it hereunder, as well as all moneys, held by it hereunder hereunder, and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ace Securities Corp)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, and to its predecessor trustee or trust administrator an instrument accepting such 101 appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the Rating Agencies, as evidenced by a letter from the Rating Agencies. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administrator, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Salo Mort Ln Tr Ser 2001-Cpb1)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, Depositor and to its predecessor trustee or trust administrator an instrument accepting such appointment Fremont 2005-B Pooling & Servicing Agreement hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administratorsuccessor, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the its successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a custodian, if any, which custodian shall become the agent of any successor trustee hereunder), and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administratorsuccessor, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Mortgage Securities Corp)
Successor Trustee or Trust Administrator. Any successor trustee or trust administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Trustee or the Trust Administrator, as applicable, Depositor and to its predecessor trustee or trust administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee or trust administrator shall become effective and such successor trustee or trust administratorsuccessor, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee or trust administrator herein. The predecessor trustee or trust administrator shall deliver to the its successor trustee or trust administrator all Mortgage Files and related documents and statements, as well as all moneys, held by it hereunder (other than any Mortgage Files at the time held by a custodian, if any, which custodian shall become the agent of any successor trustee hereunder), and the Depositor and the predecessor trustee or trust administrator shall execute and deliver such instruments and do such 154 other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee or trust administrator all such rights, powers, duties and obligations. No successor trustee or trust administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee or trust administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee or trust administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee or trust administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee or trust administrator hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee or trust administratorsuccessor, the successor trustee or trust administrator shall cause such notice to be mailed at the expense of the Depositor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Mortgage Securities Corp)
Successor Trustee or Trust Administrator. Any successor trustee Trustee or trust administrator Trust Administrator appointed as provided in Section 8.07 shall execute, acknowledge and deliver to the Depositor, the Certificate Insurer, the Trustee or the Trust Administrator, as applicable, and to its predecessor trustee Trustee or trust administrator Trust Administrator an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee Trustee or trust administrator Trust Administrator shall become effective and such successor trustee Trustee or trust administratorTrust Administrator, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as trustee Trustee or trust administrator Trust Administrator herein. The predecessor trustee Trustee or trust administrator Trust Administrator shall deliver to the successor trustee Trustee or trust administrator Trust Administrator all Mortgage Files and related documents and statementsstatements to the extent held by it hereunder, as well as all moneys, held by it hereunder hereunder, and the Depositor and the predecessor trustee Trustee or trust administrator Trust Administrator shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and certainly vesting and confirming in the successor trustee Trustee or trust administrator Trust Administrator all such rights, powers, duties and obligations. No successor trustee Trustee or trust administrator Trust Administrator shall accept appointment as provided in this Section unless at the time of such acceptance such successor trustee Trustee or trust administrator Trust Administrator shall be eligible under the provisions of Section 8.06 and the appointment of such successor trustee Trustee or trust administrator Trust Administrator shall not result in a downgrading of any Class of Certificates by the either Rating AgenciesAgency, as evidenced by a letter from the each Rating AgenciesAgency. Upon acceptance of appointment by a successor trustee Trustee or trust administrator Trust Administrator as provided in this Section, the Depositor shall mail notice of the succession of such trustee Trustee or trust administrator Trust Administrator hereunder to the Certificate Insurer and all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee Trustee or trust administratorTrust Administrator, the successor trustee Trustee or trust administrator Trust Administrator shall cause such notice to be mailed at the expense of the Depositor. Notwithstanding anything to the contrary contained herein, so long as no Certificate Insurer Default exists, the appointment of any successor Trustee or successor Trust Administrator pursuant to any provision of this Agreement will be subject to the prior written consent of the Certificate Insurer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mort Ln Tr Asst Back Ps THR Certs Ser 2003-He3)
