Common use of Administration of the Trust Property Clause in Contracts

Administration of the Trust Property. The Trustee shall administer the Trust Property for the benefit of the Certificateholders. The Trustee shall make reasonable effort to collect all payments required to be made pursuant to the terms of the CRB Certificates and the Pooling and Servicing Agreement in a manner consistent with the terms of the Pooling and Servicing Agreement and such CRB Certificates. In connection with its receipts of any funds distributed in respect of a CRB Certificate on any Payment Date, the Trustee shall review the related CRB Certificate Statement and shall confirm that the principal and interest payments received on such Payment Date are equal to the distribution amount shown on the related CRB Certificate Statement. If (i) the amount of any distribution on a CRB Certificate varies from the amount reported to the Trustee on the applicable CRB Certificate Statement for such distribution, (ii) the Trustee shall not have received a distribution on any CRB Certificate by the close of business on the date on which such distribution was to be received by the Trustee of (iii) the Trustee shall gain actual knowledge of any other default or event of default under the Pooling and Servicing Agreement, the Trustee shall promptly notify the Depositor and the Certificateholders and shall proceed in accordance with the provisions hereof, including Section 5.01(c), (d) and (e).

Appears in 2 contracts

Samples: Deposit Trust Agreement (Goldman Sachs Asset Backed Securities Corp), Deposit Trust Agreement (Gs Mortgage Securities Corp)

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Administration of the Trust Property. The Trustee shall ------------------------------------ administer the Trust Property for the benefit of the Certificateholders. The Trustee shall make reasonable effort to collect all payments required to be made pursuant to the terms of the CRB Certificates and the Pooling and Servicing Agreement in a manner consistent with the terms of the Pooling and Servicing Agreement and such CRB Certificates. In connection with its receipts of any funds distributed in respect of a CRB Certificate on any Payment Date, the Trustee shall review the related CRB Certificate Statement and shall confirm that the principal and interest payments received on such Payment Date are equal to the distribution amount shown on the related CRB Certificate Statement. If (i) the amount of any distribution on a CRB Certificate varies from the amount reported to the Trustee on the applicable CRB Certificate Statement for such distribution, (ii) the Trustee shall not have received a distribution on any CRB Certificate by the close of business on the date on which such distribution was to be received by the Trustee of or (iii) the Trustee shall gain actual knowledge of any other default or event of default under the Pooling and Servicing Agreement, the Trustee shall promptly notify the Depositor and the Certificateholders and shall proceed in accordance with the provisions hereof, including Section 5.01(c), (d) and (e).

Appears in 1 contract

Samples: Trust Agreement (Asset Backed Securities Corp)

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Administration of the Trust Property. The Trustee shall administer the Trust Property for the benefit of the Certificateholders. The Trustee shall make reasonable effort to collect all payments required to be made pursuant to the terms of the CRB Certificates and the Pooling and Servicing Agreement in a manner consistent with the terms of the Pooling and Servicing Agreement and such CRB Certificates. In connection with its receipts of any funds distributed in respect of a CRB Certificate on any Payment Date, the Trustee shall review the related CRB Certificate Statement and shall confirm that the principal and interest payments received on such Payment Date are equal to the distribution amount shown on the related CRB Certificate Statement. If (i) the amount of any distribution on a CRB Certificate varies from the amount reported to the Trustee on the applicable CRB Certificate Statement for such distribution, (ii) the Trustee shall not have received a distribution on any CRB Certificate by the close of business on the date on which such distribution was to be received by the Trustee of or (iii) the Trustee shall gain actual knowledge of any other default or event of default under the Pooling and Servicing Agreement, the Trustee shall promptly notify the Depositor and the Certificateholders and shall proceed in accordance with the provisions hereof, including Section 5.01(c), (d) and (e).

Appears in 1 contract

Samples: Trust Agreement (Ace Securities Corp)

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