THE INITIAL DEPOSITOR AND THE TRUSTEE Sample Clauses

THE INITIAL DEPOSITOR AND THE TRUSTEE. 15 Section 5.1 Representations and Warranties of the Initial Depositor 15 Section 5.2 Covenants of the Initial Depositor and of the Underwriter 16 Section 5.3 Maintenance of Office and Transfer Books by the Trustee 17 Section 5.4 Force Majeure. 17 Section 5.5 Obligations of the Initial Depositor, the Trustee, and the Underwriter 17 Section 5.6 Resignation or Removal of the Trustee; Appointment of Successor Trustee 21 Section 5.7 Monitoring and Auditing of Activities 22 Section 5.8 Indemnification 22 Section 5.9 Retention of Trust Documents 23 Section 5.10 Federal Securities Law Filings 23 Section 5.11 Prospectus Delivery 24 Section 5.12 Discretionary Actions by Trustee; Consultation 24 Section 5.13 Dissolution of the Initial Depositor to Terminate Trust 24 Section 5.14 Compliance with Applicable Tax Laws 24 ARTICLE 6 AMENDMENT AND TERMINATION 25 Section 6.1 Amendment 25 Section 6.2 Termination 25 ARTICLE 7 MISCELLANEOUS 27 Section 7.1 Counterparts 27 Section 7.2 Third-Party Beneficiaries 27 Section 7.3 Severability 27 Section 7.4 Owners as Parties; Binding Effect 27 Section 7.5 Notices 27 Section 7.6 Governing Law 28 This AMENDED AND RESTATED DEPOSITARY TRUST AGREEMENT is agreed to as of June [●], 2016 (the “Agreement”) by and among BANK OF MONTREAL, a Canadian chartered bank (the “Initial Depositor”), BMO CAPITAL MARKETS CORP., a broker-dealer affiliate of the Initial Depositor, THE BANK OF NEW YORK MELLON, a New York banking corporation, as trustee (the “Trustee”), and BNY MELLON TRUST OF DELAWARE, a Delaware banking corporation, as Delaware trustee (with any successor Delaware banking corporation acting as a Delaware trustee, the “Delaware Trustee”).
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THE INITIAL DEPOSITOR AND THE TRUSTEE 
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Related to THE INITIAL DEPOSITOR AND THE TRUSTEE

  • THE DEPOSITOR AND THE MASTER SERVICER SECTION 6.01. Respective Liabilities of the Depositor and the Master Servicer.......................VI-1 SECTION 6.02. Merger or Consolidation of the Depositor or the Master Servicer.......................VI-1 SECTION 6.03. Limitation on Liability of the Depositor, the Sellers, the Master Servicer and Others................................................................................VI-1 SECTION 6.04. Limitation on Resignation of Master Servicer..........................................VI-2 ARTICLE VII DEFAULT

  • THE DEPOSITOR AND THE SERVICER Section 7.01 Respective Liabilities of the Depositor and the Servicer...... Section 7.02 Merger or Consolidation of the Depositor or the Servicer...... Section 7.03 Limitation on Liability of the Depositor, the Servicer and Others.................................................. Section 7.04 Depositor and Servicer Not to Resign.........................

  • Duties of the Trustee and the Certificate Administrator (a) The Trustee, prior to the occurrence of a Servicer Termination Event of which a Responsible Officer of the Trustee has actual knowledge and after the curing or waiver of all Servicer Termination Events which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Agreement and no permissive right of the Trustee shall be construed as a duty. During the continuance of a Servicer Termination Event of which a Responsible Officer of the Trustee has actual knowledge, the Trustee, subject to the provisions of Section 7.02 and Section 7.04 of this Agreement, shall exercise such of the rights and powers vested in it by this Agreement, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. The Certificate Administrator undertakes to perform at all times such duties and only such duties as are specifically set forth in this Agreement and no permissive right of the Certificate Administrator shall be construed as a duty.

  • CONCERNING THE TRUSTEE AND THE SECURITIES ADMINISTRATOR Section 8.1

  • Liability of the Depositor and the Master Servicer The Depositor and the Master Servicer each shall be liable in accordance herewith only to the extent of the obligations specifically imposed by this Agreement and undertaken hereunder by the Depositor and the Master Servicer herein.

  • THE SELLER AND THE MASTER SERVICER Section 6.01 Liability of the Seller and the Master Servicer............... Section 6.02 Merger or Consolidation of the Seller or the Master Servicer.....................................................

  • THE DEPOSITARY, THE CUSTODIANS AND THE ISSUER SECTION 5.1

  • Rights of the Depositor and the Trustee in Respect of the Master Servicer The Depositor may, but is not obligated to, enforce the obligations of the Master Servicer hereunder and may, but is not obligated to, perform, or cause a designee to perform, any defaulted obligation of the Master Servicer hereunder and in connection with any such defaulted obligation to exercise the related rights of the Master Servicer hereunder; provided that the Master Servicer shall not be relieved of any of its obligations hereunder by virtue of such performance by the Depositor or its designee. Neither the Trustee nor the Depositor shall have any responsibility or liability for any action or failure to act by the Master Servicer nor shall the Trustee or the Depositor be obligated to supervise the performance of the Master Servicer hereunder or otherwise.

  • Respective Liabilities of the Depositor and the Master Servicer The Depositor and the Master Servicer shall each be liable in accordance herewith only to the extent of the obligations specifically and respectively imposed upon and undertaken by them herein.

  • Duties of Trustee and the Securities Administrator (a) The Trustee, except during the continuance of an Event of Default, and the Securities Administrator each undertake to perform their respective duties and only such duties as are specifically set forth in this Agreement. Any permissive right of the Trustee and the Securities Administrator provided for in this Agreement shall not be construed as a duty of the Trustee or the Securities Administrator, as the case may be. If an Event of Default has occurred and has not otherwise been cured or waived, the Trustee shall exercise such of the rights and powers vested in it by this Agreement and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs.

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