Common use of Trustees Not Liable for Certificates or Mortgage Loans Clause in Contracts

Trustees Not Liable for Certificates or Mortgage Loans. The recitals contained herein and in the Certificates (other than the signature of the Trustee and the Delaware Trustee, the execution and authentication of the Trustee on the Certificates, the acknowledgments of the Trustee contained in Article II and the representations and warranties of the Trustee in Section 8.13) shall be taken as the statements of the Depositor, and neither the Trustee nor the Delaware Trustee shall assume any responsibility for their correctness. Neither the Trustee nor the Delaware Trustee makes any representations or warranties as to the validity or sufficiency of this Agreement (other than as specifically set forth in Section 8.13) or of the Certificates (other than execution and authentication of the Trustee on the Certificates) or of any Mortgage Loan or related document. Neither the Trustee nor the Delaware Trustee shall be accountable for the use or application by the Depositor of any of the Certificates or of the proceeds of the Certificates, or for the use or application of any funds paid to the Depositor or the Servicer in respect of the Mortgage Loans or deposited in or withdrawn from the Collection Account by the Servicer, other than any funds held by or on behalf of the Trustee in accordance with Section 3.10.

Appears in 11 contracts

Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-11), Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He2), Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He3)

AutoNDA by SimpleDocs

Trustees Not Liable for Certificates or Mortgage Loans. The recitals contained herein (other than those relating to the due organization, power and authority of the Trustee and the Delaware Trustee) and in the Certificates (other than the signature execution of, and certificate of the Trustee and the Delaware Trusteeauthentication on, the execution and authentication of the Trustee on the Certificates, the acknowledgments of the Trustee contained in Article II and the representations and warranties of the Trustee in Section 8.13) shall be taken as the statements of the DepositorCompany or the Trust, as applicable, and neither the Trustee nor the Delaware Trustee shall assume assumes any responsibility for their correctness. Neither the Trustee nor the Delaware Trustee makes any representations or warranties as to the validity or sufficiency of this Agreement (other than as specifically set forth in Section 8.13) or of the Certificates (other than execution and authentication of the Trustee on the Certificates) or of any Mortgage Loan or related documentLoan. Neither the Trustee nor the Delaware Trustee shall be accountable for the use or application by the Depositor Company or the Trust, as applicable, of any of the Certificates or of the proceeds of the such Certificates, or for the use or application of any funds paid to the Depositor Master Servicer, the Servicers or the Servicer Company in respect of the Mortgage Loans or deposited in or withdrawn from into the Collection Account by the Servicer, other than any funds held by or on behalf of the Trustee in accordance with Section 3.10.117

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual MSC Mortgage Pass THR Cert Ser 2002-Ar2)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.