Common use of Compensation of the Trustee Clause in Contracts

Compensation of the Trustee. The Trustee shall be entitled to (i) receive, and is authorized to pay to itself the amount of income or gain earned from the investment of funds in the Certificate Account and (ii) reimbursement of all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with this Agreement (including fees and expenses of its counsel and all persons not regularly in its employment), except for any expenses, disbursements and advances that either (i) arise from its negligence, bad faith or willful misconduct or (ii) do not constitute “unanticipated expenses” within the meaning of Treasury Regulation 1.860G-1(b)(3)(ii). The Custodians shall be compensated as separately agreed with the Depositor (or its affiliates).

Appears in 21 contracts

Samples: Trust Agreement (Structured Asset Securities CORP Mortgage Pass-Through Certificates, Series 2004-13), Trust Agreement (Structured Asset Securities Corp Trust 2005-3), Trust Agreement (Structured Asset Securities Corp. 2005-16)

AutoNDA by SimpleDocs

Compensation of the Trustee. The Trustee shall be entitled to (i) receive, and is authorized to pay to itself the amount of income or gain earned from the investment of funds in the Certificate Account and (ii) reimbursement of all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with this Agreement (including fees and expenses of its counsel and all persons not regularly in its employment), except for any expenses, disbursements and advances that either (i) arise from its negligence, bad faith or willful misconduct or (ii) do not constitute “unanticipated expenses” within the meaning of Treasury Regulation 1.860G-1(b)(3)(ii1.860G1(b)(3)(ii). The Custodians Custodian shall be compensated as separately agreed with the Depositor (or its affiliates)Depositor.

Appears in 5 contracts

Samples: Trust Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 03 4), Trust Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-24), Trust Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003 10)

Compensation of the Trustee. The Trustee shall be entitled to (i) receive, and is authorized to pay to itself the amount of income or gain earned from the investment of funds in the Certificate Account and (ii) reimbursement of all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with this Agreement (including fees and expenses of its counsel and all persons not regularly in its employment), except for any expenses, disbursements and advances that either (i) arise from its negligence, bad faith or willful misconduct or (ii) do not constitute “unanticipated expenses” within the meaning of Treasury Regulation 1.860G-1(b)(3)(ii). The Custodians Custodian shall be compensated as separately agreed with the Depositor (or its affiliates).

Appears in 2 contracts

Samples: Trust Agreement (Structured Asset Sec Corp Mort Pas THR Certs Ser 2003 30), Trust Agreement (Structured Asset Sec Corp Mort Pas THR Certs Se 2003 29)

Compensation of the Trustee. The Trustee shall be entitled to (i) the Trustee Fee, (ii) receive, and is authorized to pay to itself the amount of income or gain earned from the investment of funds in the Certificate Account and (iiiii) reimbursement of all reasonable expenses, disbursements and advances advancements incurred or made by the Trustee in accordance with this Agreement (including fees and expenses of its counsel and all persons not regularly in its employment), ; except for any expenses, disbursements and advances that either (i) arise such expenses arising from its negligence, bad faith or willful misconduct or (ii) do not constitute “misconduct; provided that such expenses, disbursements and advancements are unanticipated expenses” within the meaning of Treasury Regulation Regulations Section 1.860G-1(b)(3)(ii). The Custodians Custodian shall be compensated as separately agreed with the Depositor (or its affiliates)Depositor.

Appears in 2 contracts

Samples: Trust Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2002 4h), Trust Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 2002 4h)

Compensation of the Trustee. The Trustee shall be entitled to (i) receive, and is authorized to pay to itself the amount of income or gain earned from the investment of funds in the Certificate Account and (ii) reimbursement of all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with this Agreement (including fees and expenses of its counsel and all persons not regularly in its employment), except for any expenses, disbursements and advances that either (i) arise from its negligence, bad faith or willful misconduct or (ii) do not constitute “unanticipated expenses” within the meaning of Treasury Regulation 1.860G-1(b)(3)(ii). The Custodians Custodian shall be compensated as separately agreed with the Depositor (or its affiliates)Depositor.

Appears in 2 contracts

Samples: Trust Agreement (Structured Asset Sec Corp Mort Ps THR Certs Ser 2003-8), Trust Agreement (Structured Asset Sec Corp Mort Pass THR Certs Series 2003-1)

AutoNDA by SimpleDocs

Compensation of the Trustee. The Trustee shall be entitled to (i) receive, and is authorized to pay to itself the amount of income or gain earned from the investment of funds in the Certificate Account and (ii) reimbursement of all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with this Agreement (including fees and expenses of its counsel and all persons not regularly in its employment), except for any expenses, disbursements and advances that either (ia) arise from its negligence, bad faith or willful misconduct or (iib) do not constitute “unanticipated expenses” within the meaning of Treasury Regulation 1.860G-1(b)(3)(ii). The Custodians shall be compensated as separately agreed with the Depositor (or its affiliates).

Appears in 1 contract

Samples: Trust Agreement (Lehman Mortgage Trust 2006-2)

Compensation of the Trustee. The Trustee shall be entitled to (i) receive, and is authorized to pay to itself the amount of income or gain earned from the investment of funds in the Certificate Account and (ii) reimbursement of all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with this Agreement (including fees and expenses of its counsel and all persons not regularly in its employment), except for any expenses, disbursements and advances that either (i) arise from its negligence, bad faith or willful misconduct or (ii) do not constitute “unanticipated expenses” within the meaning of Treasury Regulation 1.860G-1(b)(3)(ii). The Custodians Custodian and the Trustee, to the extent of its reasonable expenses incurred in connection with its custody of the Mortgage Loans, shall be compensated as separately agreed with the Depositor (or its affiliates).

Appears in 1 contract

Samples: Trust Agreement (Structured Asset Securities Corp)

Compensation of the Trustee. The Trustee shall be entitled to (i) receive, and is authorized to pay to itself the amount of income or gain earned from the investment of funds in the Certificate Account and (ii) reimbursement of all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with this Agreement (including fees and expenses of its counsel and all persons not regularly in its employment), except for any expenses, disbursements and advances that either (i) arise from its negligence, bad faith or willful misconduct or (ii) do not constitute “unanticipated expenses” within the meaning of Treasury Regulation 1.860G-1(b)(3)(ii). The Custodians Custodian and the fees and expenses of the Trustee in connection with the custody of the Mortgage Loans shall be compensated as separately agreed with the Depositor (or its affiliates).

Appears in 1 contract

Samples: Trust Agreement (Structured Asset Securities Corp Series 2003-20)

Time is Money Join Law Insider Premium to draft better contracts faster.