Administration of Each Trust. (a) The Trustee shall administer the Underlying Securities for each given Trust for the benefit of the Certificateholders of the related Series. In engaging in such activities, the Trustee shall follow or cause to be followed collection procedures in accordance with the terms of these Standard Terms and the applicable Supplement, the respective Underlying Securities and any applicable Credit Support Instruments. With respect to each Trust, and subject only to the above-described standards and the terms of these Standard Terms, the related Supplement and the respective Underlying Securities and applicable Credit Support Instruments, if any, the Trustee shall have full power and authority, acting alone or through Administrative Agents as provided in Section 7.02, to do or cause to be done any and all things in connection with such administration which it deems necessary to comply with the terms of these Standard Terms and the applicable Supplement.
(b) The duties of the Trustee shall be performed in accordance with applicable local, State and Federal law, and the Trustee shall, at the direction of the Depositor, make any and all filings, reports, notices or applications with (as prepared by the Depositor), and seek any comments and authorizations from, the Commission and any State securities authority on behalf of the Trust for each Series.
Administration of Each Trust. (a) The Trustee (and, to the extent required in the applicable Series Supplement, any Administrative Agent) shall administer the Underlying Securities for each given Trust for the sole benefit of the Certificateholders of the related Series. In engaging in such activities, the Trustee (or the Administrative Agent, if applicable) shall, subject to the provisions of Article VI hereof, follow or cause to be followed collection procedures in accordance with the terms of this Agreement and the applicable Series Supplement, the respective Underlying Securities and any applicable Credit Support Instruments. With respect to each Trust, and subject only to the above-described standards and the terms of this Agreement, the related Series Supplement and the respective Underlying Securities and applicable Credit Support Instruments, if any, the Trustee (or the Administrative Agent, if applicable) shall have full power and authority, acting alone or through Sub-Administrative Agents as provided in Section 3.2, to do or cause to be done any and all things in connection with such administration which it deems necessary to comply with the terms of this Agreement and the applicable Series Supplement.
(b) Without limiting the generality of the terms of paragraph (a) of this Section 3.1, with respect to any Series of Certificates, the Administrative Agent, if any, specified in the applicable Series Supplement shall be hereby authorized and empowered by the Trustor, when such Administrative Agent believes it appropriate in its reasonable judgment and when otherwise required by a Series Supplement, in its own name or in the name of a Sub- Administrative Agent, (i) to instruct the Trustee to make distributions or payments from the Certificate Account or any other Account for such Series, as set forth herein or in the related Series Supplement, and (ii) to the extent specified in the related Series Supplement, to execute and deliver, on behalf of the Certificateholders of such Series and the Trustee or any of them, and upon notice to the Trustee, any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to any of the Underlying Securities relating to such Series.
(c) The duties of the Trustee and the Administrative Agent, if any, shall be performed in accordance with applicable local, state and federal law, and the Trustee (or, if specified in the applicable Series Supplement, the Admin...
Administration of Each Trust. (a) The Trustee shall ---------------------------- administer the Underlying Securities for each given Trust for the benefit of the Certificateholders of the related Series. In engaging in such activities, the Trustee shall follow or cause to be followed collection procedures in accordance with the terms of these Standard Terms and the applicable Series Supplement, the respective Underlying Securities and any applicable Credit Support Instruments. With respect to each Trust, and subject only to the above-described standards and the terms of these Standard Terms, the related Series Supplement and the respective Underlying Securities and applicable Credit Support Instruments, if any, the Trustee shall have full power and authority, acting alone or through Sub-Administrative Agents as provided in Section 7.02, to do or cause to be done any and all things in connection with such administration which it deems necessary to comply with the terms of these Standard Terms and the applicable Series Supplement.
(b) The duties of the Trustee shall be performed in accordance with applicable local, State and Federal law.
Administration of Each Trust. 20 Section 3.1. Administration of each Trust.........................................................20 Section 3.2. Sub-Administration Agreements Between Administrative Agent or Trustee and Sub-Administrative Agents............................................................21 Section 3.3. Successor Sub-Administrative Agents..................................................21 Section 3.4. Liability of the Administrative Agent................................................22 Section 3.5. No Contractual Relationship Between Certain Sub-Administrative Agents and Trustee or Certificateholders........................................................22 Section 3.6. Assumption or Termination of Sub-Administration Agreements by Trustee................22 Section 3.7. Collection of Certain Term Asset Payments............................................23 Section 3.8. Collections by Sub-Administrative Agent..............................................23 Section 3.9. Certificate Account..................................................................23 Section 3.10. Investment of Funds in the Accounts..................................................24 Section 3.11. Maintenance of Credit Support........................................................25 Section 3.12. Realization Upon Defaulted Term Assets...............................................25 Section 3.13. Retained Interest....................................................................27 Section 3.14. Administrative Agent's Compensation and Reimbursement................................27 Section 3.15. Statement as to Compliance...........................................................28 Section 3.16. Independent Public Accountants' Administration Report................................28 TABLE OF CONTENTS (continued) Page Section 3.17. Access to Certain Documentation......................................................28 Section 3.18. Duties of the Administrative Agent...................................................29 Section 3.19. Depositor to Furnish Names and Addresses of Holders to Trustee.......................29 Section 3.20. Preservation of Information, Communications to Holders...............................29
Administration of Each Trust. 20 SECTION 3.02. Collection of Certain Underlying Security Payments.........................................20 SECTION 3.03. Certificate Account........................................................................20 SECTION 3.04. Liquidation of the Underlying Securities...................................................21 SECTION 3.05. Investment of Funds in the Accounts........................................................21 SECTION 3.06. Maintenance of Credit Support..............................................................22 SECTION 3.07. Realization Upon Defaulted Underlying Securities...........................................23 SECTION 3.08. Retained Interest..........................................................................23 SECTION 3.09. Access to Certain Documentation............................................................24 SECTION 3.10. Reports by the Depositor. The Depositor shall:............................................24 SECTION 3.11. Charges and Expenses.......................................................................25 SECTION 3.12. Underlying Securities Reporting Failure....................................................25 ARTICLE IV Distributions and Reports to Certificateholders
Administration of Each Trust. 26 Section 3.02. Collection of Certain Underlying Security Payments.......................... 27 Section 3.03.
Administration of Each Trust. 25 SECTION 3.02. Collection of Certain Underlying Security Payments......................................25 SECTION 3.03. Certificate Account.....................................................................25 SECTION 3.04. Liquidation of the Underlying Securities; Sale Procedures...............................26 SECTION 3.05. Investment of Funds in the Accounts.....................................................27 SECTION 3.06. Maintenance of Credit Support...........................................................27 SECTION 3.07. Realization Upon Defaulted Underlying Securities........................................28 SECTION 3.08. Access to Certain Documentation.........................................................28
Administration of Each Trust. (a) The Trustee shall administer the Trust Estate for each Trust for the benefit of the Certificateholders of the related Series. In engaging in such activities, the Trustee shall follow or cause to be followed collection procedures in accordance with the terms of: (i) these Standard Terms, (ii) the applicable Series Supplement, (iii) the respective Underlying Securities, (iv) any applicable Credit Support Instruments and (v) any Other Deposited Assets. With respect to each Trust, and subject only to the above- described standards, the Trustee shall have full power and authority, acting alone or through Administrative Agents as provided in Section 7.02, to do or cause to be done any and all things in connection with such administration which it deems necessary to comply with the terms of these Standard Terms and the applicable Series Supplement.
(b) The duties of the Trustee shall be performed in accordance with applicable local, state and federal law, and the Trustee shall make any and all filings, reports, notices or applications with, and seek any comments and authorizations from, the Commission and any state securities authority on behalf of the Trust for each Series.
Administration of Each Trust. The Trustee (and, to the extent required in the applicable Series Supplement, any Administrative Agent) shall administer the Term Assets for each given Trust for the benefit of the Certificateholders of the related Series. In engaging in such activities, the Trustee (or the Administrative Agent, if applicable) shall, subject to the provisions of Article VI hereof, follow or cause to be followed collection procedures in accordance with the terms of this Agreement and the applicable Series Supplement, the respective Term Assets and any applicable Credit Support Instruments. With respect to each Trust, and subject only to the above-described standards and the terms of this Agreement, the related Series Supplement and the respective Term Assets and applicable Credit Support Instruments, if any, the Trustee (or the Administrative Agent, if applicable) shall have full power and authority, acting alone or through Sub-Administrative Agents as provided in Section 3.2, to do or cause to be done any and all things in connection with such administration which it deems necessary to comply with the terms of this Agreement and the applicable Series Supplement.
Administration of Each Trust. (a) The Trustee shall administer the Underlying Securities for each given Trust for the benefit of the Certificateholders of the related Series. In engaging in such activities, the Trustee shall follow or cause to be followed collection procedures in accordance with the terms of these Standard Terms and the applicable Series Supplement, the respective Underlying Securities and any applicable Credit Support Instruments. With respect to each Trust, and subject only to the above- described standards and the terms of these Standard Terms, the related Series Supplement and the respective Underlying Securities and applicable Credit Support Instruments, if any,
(b) The duties of the Trustee shall be performed in accordance with applicable local, State and Federal law, and the Trustee shall make any and all filings, reports, notices or applications with, and seek any comments and authorizations from, the Commission and any State securities authority on behalf of the Trust for each Series.
