The Fiscal Agent. (a) The Fiscal Agent shall at all times maintain a long-term unsecured debt rating of no less than "AA-" from S&P (or "A+" from S&P, if the Fiscal Agent's short-term unsecured debt rating is at least "A-1" by S&P) and "AA-" from Fitch (or, in the case of either Rating Agency, such other rating as shall not result in an Adverse Rating Event with respect to any Class of Certificates rated by such Rating Agency, as confirmed in writing by such Rating Agency).
The Fiscal Agent. (1) In acting under this Agreement and in connection with the Notes, the Fiscal Agent is acting solely as agent of the Issuer and does not assume any obligation or relationship of agency or trust with any of the holders of Notes, except that all amounts received and held by the Fiscal Agent for payment in respect of the Notes shall be held in trust (i.e., as mandatary) for the holders of the Notes in a separate account or accounts for payment to the holders of Notes. The Fiscal Agent shall not be liable to pay interest or investment income to the Issuer on any moneys received from the Issuer for the purposes of payment pursuant to Section 7 (Payments by the Issuer to the Fiscal Agent).
The Fiscal Agent. (a) To the extent that the Trustee is required, pursuant to the terms of this Agreement, to make any Advance which has not been deemed a Nonrecoverable Advance, whether as successor Master Servicer or otherwise, and has failed to do so in accordance with the terms hereof, the Fiscal Agent shall make such Advance when and as required by the terms of this Agreement on behalf the Trustee as if the Fiscal Agent were the Trustee hereunder. To the extent that the Fiscal Agent makes an Advance pursuant to this Section 8.13 or otherwise pursuant to this Agreement, the obligations of the Trustee under this Agreement in respect of such Advance shall be satisfied. Notwithstanding anything contained in this Agreement to the contrary, the Fiscal Agent shall be entitled to all limitations on liability, rights of reimbursement and indemnities that the Trustee is entitled to hereunder as if it were the Trustee.
The Fiscal Agent. Section 11.1. Appointment of Fiscal Agent; Acceptance 39 Section 11.2. Certain Duties and Responsibilities of Fiscal Agent 39 Section 11.3. Notice of Defaults 40 Section 11.4. Certain Rights of Fiscal Agent 40 Section 11.5. Not Responsible for Recitals 41 Section 11.6. May Hold Funding Loan 42 Section 11.7. Moneys Held in Trust 42 Section 11.8. Compensation and Reimbursement 42 Section 11.9. Fiscal Agent Required; Eligibility 43 Section 11.10. Resignation and Removal; Appointment of Successor 43 Section 11.11. Acceptance of Appointment by Successor 44 Section 11.12. Merger, Conversion, Consolidation or Succession to Business 44 Section 11.13. Appointment of Co Fiscal Agent 44 Section 11.14. Loan Servicing 45 Section 11.15. No Recourse Against Officers or Employees of Fiscal Agent 45
The Fiscal Agent. The Fiscal Agent shall act as expressly provided herein and in the Funding Loan Agreement and no implied covenants, duties or obligations shall be read into this Agreement against the Fiscal Agent. The Fiscal Agent shall have no duty to act with respect to enforcement of the Owner’s performance hereunder as described in Section 17 unless it shall have actual knowledge of any such default as provided in Section 17 and have been directed in writing by the Governmental Lender. The Fiscal Agent may act as the agent of and on behalf of the Governmental Lender, and any act required to be performed by the Governmental Lender as herein provided shall be deemed taken if such act is 4134-7435-6005.3 performed by the Fiscal Agent. In connection with any such performance, the Fiscal Agent is acting solely as Fiscal Agent under the Funding Loan Agreement and not in its individual capacity, and except as expressly provided herein, all provisions of the Funding Loan Agreement relating to the rights, privileges, powers and protections of the Fiscal Agent, including without limitation those set forth in Section 10 thereof, shall apply with equal force and effect to all actions taken (or omitted to be taken) by the Fiscal Agent in connection with this Regulatory Agreement. Neither the Fiscal Agent nor any of its officers, directors or employees shall be liable for any action taken or omitted to be taken by it hereunder or in connection herewith except for its or their own negligence or willful misconduct. The Fiscal Agent shall not be responsible for the monitoring of the Owner’s compliance with the terms of this Regulatory Agreement. After the date on which no Note remain Outstanding, as provided in the Funding Loan Agreement, the Fiscal Agent shall no longer have any rights, duties or responsibilities under this Regulatory Agreement and all references to the Fiscal Agent in this Regulatory Agreement shall be deemed references to the Governmental Lender.
The Fiscal Agent. (a) The Trustee hereby appoints ABN AMRO Bank N.V. as the initial Fiscal Agent hereunder for the purposes of exercising and performing the obligations and duties imposed upon the Fiscal Agent hereunder. The Fiscal Agent shall at all times maintain a long-term unsecured debt rating of no less than "AA-" from Fitch and "AA-" from S&P (and if the Fiscal Agent is rated "AA-" by S&P, a short-term rating of at least "A-1" in the case of S&P) and if any Grace Building Companion Loan Securities are rated by Moody's, a long-term unsecured debt rating of "Aa3" by Moody's (or, in xxx xxxe of either Rating Agency or Moody's, such other xxxxxx as each such Rating Agency or Moody's shall xxxxxx so long as it is accompanied by a statement in wrixxxx xxat any of the then-current ratings assigned by such Rating Agency or Moody's to the respective Classes of the Certificates and, if applicablx, xxx class of Grace Building Companion Loan Securities, would not be downgraded, qualified (if applicable) or withdrawn as a result of such rating).
The Fiscal Agent. (a) Cancelled Notes: may destroy each Temporary Global Note, Permanent Global Note, Definitive Note and Coupon cancelled by it (or cancelled by another Paying Agent or Replacement Agent and delivered to it) in accordance with Clause 4.11 (Exchange of Temporary Global Note), Clause 4.12 (Exchange of Permanent Global Note), Clause 4.14 (Delivery of Coupon sheets by Paying Agents), Xxxxxx 5.3 (Cancellation of mutilated or defaced Notes) or sub-clause 7.1(d) (Payments by Paying Agents) or Clause 8.3 (Cancellation), in which case it shall at the relevant Issuer’s request furnish such Issuer and the Guarantor with a certificate as to such destruction distinguishing between the Notes of each Series and specifying the certificate or serial numbers of the Temporary Global Note, Permanent Global Note and Definitive Notes in numerical sequence (and containing particulars of any unmatured Coupons and unexchanged Talons attached thereto or surrendered therewith) and the total number by payment or maturity date of Coupons (distinguishing Talons) so destroyed;
The Fiscal Agent. Section 7.01. Appointment of Fiscal Agent 27 Section 7.02. Liability of Fiscal Agent 28 Section 7.03. Information; Books and Accounts 30 Section 7.04. Notice to Fiscal Agent 30 Section 7.05. Compensation; Indemnification 30 Section 7.06. Interaction With the City 31 ARTICLE VIII MODIFICATION OR AMENDMENT OF THIS AGREEMENT Section 8.01. Amendments Permitted 32 Section 8.02. Owners’ Meetings 32 Section 8.03. Procedure for Amendment with Written Consent of Owners 32 Section 8.04. Disqualified Bonds 33 Section 8.05. Effect of Supplemental Agreement 33 Section 8.06. Endorsement or Replacement of Bonds Issued After Amendment 34 Section 8.07. Amendatory Endorsement of Bonds 34 Section 8.08. No Additional Indebtedness 34