Master Servicer/Trustee definition

Master Servicer/Trustee means The Bank of New York Mellon, a New York banking corporation.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Master Servicer/Trustee means [INSERT MS/T], not in its individual capacity but solely as Trustee under a certain Bond Trust Indenture, [dated ,] and its successors and assigns, whose duties include, among others, exercising fiduciary powers to enforce the terms of the Bonds and Bond Loans pursuant to the Bond Trust Indenture entered into by and between the Master Servicer/Trustee and the Qualified Issuer, overseeing the activities of Servicers, and facilitating Bond principal and interest payments to the Bond Purchaser.

Master Servicer/Trustee means , a organized under the laws of , not in its individual capacity but acting as master servicer/trustee under the Bond Trust Indenture, and successor trustees appointed in accordance with the terms of the Indenture.

Examples of Master Servicer/Trustee in a sentence

• No amendment, renewal or extension of any Bond or any modification or waiver of any right of the Bondholder thereunder may be consented to by the Qualified Issuer or the Master Servicer/Trustee without the prior written consent of the Guarantor.

• In the event any such payments are assessed against and are paid by either the Lender or the Master Servicer/Trustee, the Borrower shall promptly reimburse the Lender or the Master Servicer/Trustee, as the case may be.

• The obligations for payments described in this Section 8.4 shall be the exclusive obligations of the Borrower, and neither the Lender nor the Master Servicer/Trustee, or their successors and assigns, shall have any obligation for any payment thereof.

• The Borrower shall perform or shall cause to be performed any such acts, and execute and cause to be executed any and all further instruments as may be required by law or as shall reasonably be requested by the Lender or the Master Servicer/Trustee for such protection of such security interests.

• The Borrower shall pay all expenses related to the action or proceeding, with full power to litigate, compromise or settle the same in its sole discretion, provided that the Lender, the CDFI Fund and the Master Servicer/Trustee, as appropriate, shall have the right to review and approve or disapprove any such compromise or settlement.

• The Qualified Issuer must require that the Eligible CDFIs, Program Administrator, Servicer and Master Servicer/Trustee also comply with said record retention requirements.

• FFB shall prepare a billing statement for the amounts owed to FFB on each Advance that is made under the Bond purchased under this Agreement, and shall deliver each such billing statement to the Qualified Issuer, the CDFI Fund, and the Master Servicer/Trustee.

• Pursuant to the Supplemental Indenture, the Master Servicer/Trustee shall establish a separate and dedicated account in which to deposit the Cash Collateral (the “Cash Collateral Account”).

• The indemnification of the Master Servicer/Trustee referenced herein also covers Claims incurred by the Master Servicer/Trustee (and the Indemnified Parties) in connection with the acceptance or administration by the Master Servicer/Trustee of its trusts and duties under the Bond Loan Documents and as assignee of the Lender under this Agreement.

• In order to facilitate accounting, the Master Servicer/Trustee shall establish under the Relending Fund an account (the “Relending Account”) for each Bond Loan.

More Definitions of Master Servicer/Trustee

Master Servicer/Trustee means The Bank of New York Mellon, a New York banking corporation, and its successors in the trust hereunder.

Master Servicer/Trustee means trust hereunder.

Master Servicer/Trustee means The Bank of New York Mellon, not in its individual capacity but solely as Master Servicer/Trustee under a certain Bond Trust Indenture, dated as of the Bond Issue Date, and its successors and assigns, whose duties include, among others, exercising fiduciary powers to enforce the terms of the Bonds and Bond Loans pursuant to the Bond Trust Indenture entered into by and between the Master Servicer/Trustee and the Qualified Issuer, overseeing the activities of Servicers, and facilitating Bond principal and interest payments to the Bond Purchaser.

Master Servicer/Trustee means the particular master servicer/trustee specified in Schedule I as being the “Master Servicer/Trustee,” and successor master servicer/trustees appointed in accordance with the terms of the Indenture.