Co-Trustees definition
Examples of Co-Trustees in a sentence
Section 8.12 Separate Trustees and Co-Trustees.........................
Section 8.12 Separate Trustees and Co-Trustees..............................
Section 8.12 Separate Trustees and Co-Trustees.............................
Section 8.12 Separate Trustees and Co-Trustees..........................
The Co-Trustees may accept a certified copy of a resolution of the board of directors or other governing body of any corporate party as conclusive evidence that such resolution has been duly adopted by such body and that the same is in full force and effect.
The Co-Trustee makes no representations as to the validity or sufficiency of this Agreement or of any Mortgage Loan or related document or of MERS or the MERS(R) System other than with respect to the Co-Trustee's execution and authentication of the Certificates.
Except as provided in this Article VII, in accepting the trusts hereby created, The Bank of New York acts solely as Owner Trustee hereunder and The Bank of New York (Delaware) acts solely as Delaware Trustee hereunder and not in their individual capacities, and all Persons having any claim against the Co-Trustees by reason of the transactions contemplated by this Agreement or any other Basic Document shall look only to the Owner Trust Estate for payment or satisfaction thereof.
As to any fact or matter the method of the determination of which is not specifically prescribed herein, the Co-Trustees may for all purposes hereof rely on a certificate, signed by the president or any vice president or by the treasurer or other authorized officers of the relevant party, as to such fact or matter and such certificate shall constitute full protection to the Co-Trustees for any action taken or omitted to be taken by it in good faith in reliance thereon.
In the event of any claim, action or proceeding for which indemnity will be sought pursuant to this Section 8.2, the Co-Trustees' choice of legal counsel shall be subject to the approval of the Depositor, which approval shall not be unreasonably withheld.
The Co-Trustees shall not be liable for anything done, suffered or omitted in good faith by them in accordance with the written opinion or advice of any such counsel, accountants or other such Persons and not contrary to this Agreement or any other Basic Document.