Common use of Certain Matters Affecting the Trustee and the Trust Administrator Clause in Contracts

Certain Matters Affecting the Trustee and the Trust Administrator. Except as otherwise provided in Section 8.01: (i) Each of the Trustee and the Trust Administrator may rely and shall be protected in acting or refraining from acting upon any resolution, Officers' Certificate, certificate of auditors or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, appraisal, bond or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; (ii) Each of the Trustee and the Trust Administrator may consult with counsel, and any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered or omitted by it hereunder in good faith and in accordance with such Opinion of Counsel; (iii) Neither of the Trustee nor the Trust Administrator shall be personally liable for any action taken, suffered or omitted by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement; and (iv) Each of the Trustee and the Trust Administrator may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys.

Appears in 16 contracts

Samples: Pooling and Servicing Agreement (Norwest Asset Securities Corp Mort Pass Thro Cert Ser 1997-8), Pooling and Servicing Agreement (Norwest Asset Sec Corp Mort Ps THR Cert Ser 1998-2 Trust), Pooling and Servicing Agreement (Norwest Asset Sec Corp Mort Ps THR Cert Ser 1998-4 Trust)

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Certain Matters Affecting the Trustee and the Trust Administrator. Except as otherwise provided in Section 8.01: (i) Each of the Trustee and the Trust Administrator may rely and shall be protected beprotected in acting or refraining from acting upon any resolution, Officers' Certificate, certificate of auditors or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, appraisal, bond or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; (ii) Each of the Trustee and the Trust Administrator may consult with counsel, and any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered or omitted by it hereunder in good faith and in accordance with such Opinion of Counsel; (iii) Neither of the Trustee nor the Trust Administrator shall be personally liable for any action taken, suffered or omitted by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement; and (iv) Each of the Trustee and the Trust Administrator may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Norwest Asset Securities Corp Mor Pas THR Cert Ser 1998-8 Tr)

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