Trustee to Hold the Policy. The Trustee will hold the Policy in trust as agent for the Holders of the Class A Certificates and the Residual Certificates for the purpose of making claims thereon and distributing the proceeds thereof. Neither the Policy nor the amounts paid on the Policy will constitute part of the Trust Fund or assets of either REMIC created by this Agreement. Each Holder of Class A Certificates and the Residual Certificates, by accepting its Class A Certificates, appoints the Trustee as attorney-in-fact for the purpose of making claims on the Policy.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Ast Bk Fl Rte Cer Se 1996-5a), Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Ast Bk Fl Rte Cer Se 1997-Nc1), Pooling and Servicing Agreement (Salomon Br Mor Sec Vii Inc New Cen Ast BCK Fl Rt Ce 1997 Nc2)
Trustee to Hold the Policy. The Trustee will hold the Policy in trust as agent for the Holders of the Class A Certificates and the Residual Certificates for the purpose of making claims thereon and distributing the proceeds thereof. Neither The Policy, prior to any distributions thereon deposited into the Policy nor the amounts paid on the Policy Payments Account, will not constitute part of the Trust Fund or assets of either the REMIC Trust created by this Agreement. Each Holder of Class A Certificates and the Residual Certificates, by accepting its Class A Certificates, appoints the Trustee as attorney-in-fact for the purpose of making claims on the Policy.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)
Trustee to Hold the Policy. The Trustee will hold the Policy in trust as agent for the Holders of the Class A Certificates and the Residual Certificates for the purpose of making claims thereon and distributing the proceeds thereof. Neither the Policy nor the amounts paid on the Policy will constitute part of the Trust Fund or assets of either the REMIC created by this Agreement. Each Holder of Class A Certificates and the Residual Certificates, by accepting its Class A Certificates, appoints the Trustee as attorney-in-fact for the purpose of making claims on the Policy.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Inc Fl Rte Cert Se 1996-Lb1), Pooling and Servicing Agreement (United Panam Financial Corp), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
Trustee to Hold the Policy. The Trustee will hold the Policy in trust as agent for the Holders of the Class A Certificates and the Residual Certificates for the purpose of making claims thereon and distributing the proceeds thereof. Neither the Policy nor the amounts paid on the Policy will constitute part of the Trust Fund or assets of either REMIC created by this Agreement. Each Holder of Class A Certificates and the Residual Certificates, by accepting its Class A and Residual Certificates, appoints the Trustee as attorney-in-fact for the purpose of making claims on the Policy.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Ast Bk Fl Rte Cer Se 1996-Lb1a), Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Asset Bk Fl Rte Ce Se 1996 Lb3)
Trustee to Hold the Policy. The Trustee will hold the Policy in trust as agent for the Holders of the Class A Certificates and the Residual Certificates for the purpose of making claims thereon and distributing the proceeds thereof. Neither the Policy nor the amounts paid on the Policy will constitute part of the Trust Fund or assets of either REMIC I or REMIC II created by this Agreement. Each Holder of Class A Certificates and the Residual Certificates, by accepting its Class A Certificates, appoints the Trustee as attorney-in-fact for the purpose of making claims on the Policy.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Salomon Bro Mort Sec Vii Inc as Bk Fix & Fl Rte Ce Se 1996-8)
Trustee to Hold the Policy. The Trustee will hold the Policy in trust as agent for the Holders holders of the Class A Certificates and the Residual Offered Certificates for the purpose of making claims thereon and distributing the proceeds thereof. Neither the Policy nor the amounts paid on the Policy will constitute part of the Trust Fund or assets of either REMIC created by this AgreementREMIC. Each Holder holder of Class A Certificates and the Residual Offered Certificates, by accepting its Class A Offered Certificates, appoints the Trustee as attorney-in-fact for the purpose of making claims on the Policy.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)
Trustee to Hold the Policy. The Indenture Trustee will hold the Policy in trust as agent for the Holders of the Class A Certificates and the Residual Certificates for the purpose of making claims thereon and distributing the proceeds thereof. Neither The Policy, prior to any distributions thereon deposited into the Policy nor the amounts paid on the Policy Payments Account, [will not constitute part of the Trust Fund Property or assets of either the REMIC Trust created by this Agreement]. Each Holder of Class A Certificates and the Residual CertificatesNotes, by accepting its Class A CertificatesNotes, appoints the Indenture Trustee as attorney-in-fact for the purpose of making claims on the Policy.
Appears in 1 contract
Samples: Indenture (Prudential Securities Secured Financing Corp)
Trustee to Hold the Policy. The Trustee will hold the Policy in trust as agent for the Holders of the Class A Certificates and the Residual Certificates for the purpose of making claims thereon and distributing the proceeds thereof. Neither the Policy nor the amounts paid on the Policy will constitute part of the Trust Fund or assets of either the REMIC created by this Agreement. Each Holder of Class A Certificates and the Residual Certificates, by accepting its Class A Certificates, appoints the Trustee as attorney-in-fact for the purpose of making claims on the Policy.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Trustee to Hold the Policy. The Trustee Trust Administrator will hold the Policy in trust as agent for the Holders holders of the Class A Certificates and the Residual Offered Certificates for the purpose of making claims thereon and distributing the proceeds thereof. Neither the Policy nor the amounts paid on the Policy will constitute part of the Trust Fund Estate or assets of either REMIC created by this AgreementREMIC. Each Holder holder of Class A Certificates and the Residual Offered Certificates, by accepting its Class A Offered Certificates, appoints the Trustee Trust Administrator as attorney-in-fact for the purpose of making claims on the Policy.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp)
