Cap Administrator definition
Examples of Cap Administrator in a sentence
The Cap Trust shall be maintained by the Cap Trustee and administered on its behalf by the Cap Administrator.
For the avoidance of doubt, the parties hereto acknowledge and agree that all functions of the Cap Trustee hereunder shall be performed on its behalf by the Cap Administrator.
The Cap Trustee and the Cap Administrator shall be entitled to the same rights, protections and indemnities afforded to the Trust Administrator under the Pooling and Servicing Agreement, as if specifically set forth herein with respect to the Cap Trustee and the Cap Administrator.
The Cap Administrator hereby agrees that it holds and shall hold the Cap Account and all amounts deposited therein in trust for the exclusive use and benefit of the Trustee, the Trust Administrator and the Indenture Trustee Administrator as their interests may appear.
The Cap Administrator shall be entitled to the same rights, protections and indemnities afforded to the Trust Administrator under the Pooling and Servicing Agreement and the Indenture Trustee Administrator under the Indenture, in each case, as if specifically set forth herein with respect to the Cap Administrator.
Any Cap Termination Payment received by the Cap Administrator shall be deposited in the Cap Account and shall be used to make any upfront payment required under a replacement cap contract.
All amounts on deposit in the Cap Account shall remain uninvested unless the Cap Administrator receives instructions to the contrary from any party hereto, with the consent of the NIMS Insurer, if any.
The Cap Administrator shall not be liable for the acts or omissions of its agents or attorneys so long as the Cap Administrator chose such Persons with due care.
The Cap Administrator waives, to the fullest extent permitted by law, any right to remove any such action or proceeding by reason of improper venue or inconvenient forum.
The Cap Administrator shall not be required to take any action to exercise or enforce any of its rights or powers hereunder which, in the opinion of the Cap Administrator, shall be likely to involve expense or liability to the Cap Administrator, unless the Cap Administrator shall have received an agreement satisfactory to it in its sole discretion to indemnify it against such liability and expense.