Common use of Concerning the Owner Trustee Clause in Contracts

Concerning the Owner Trustee. 7-1 SECTION 7.1. Acceptance of Trust and Duties....................... 7-1 SECTION 7.2. Furnishing of Documents.............................. 7-3 SECTION 7.3. Representations and Warranties....................... 7-3 SECTION 7.4. Reliance; Advice of Counsel.......................... 7-4 SECTION 7.5. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6. Owner Trustee Not Liable for Certificates, Notes or Contracts................................... 7-5 SECTION 7.7. Owner Trustee May Own Certificates and Notes......... 7-5 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-5

Concerning the Owner Trustee. 7-1 23 SECTION 7.1. 7.1 Acceptance of Trust Trusts and Duties....................... 7-1 ..............................................23 SECTION 7.2. 7.2 Furnishing of Documents.............................. 7-3 ......................................................24 SECTION 7.3. 7.3 Representations and Warranties....................... 7-3 Warranties of Owner Trustee..............................25 SECTION 7.4. 7.4 Reliance; Advice of Counsel.......................... 7-4 ..................................................25 SECTION 7.5. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6. Owner Trustee Not Liable for Certificates, Notes or Contracts................................... 7-5 SECTION 7.7. 7.5 Owner Trustee May Own Certificates and Notes......... 7-5 .................................26 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-57.6 Licenses.....................................................................26 ARTICLE VIII

Concerning the Owner Trustee. 7-1 SECTION 7.120 Section 7.01. Acceptance of Trust Trusts and Duties....................... 7-1 SECTION 7.2............................................................20 Section 7.02. Furnishing of Documents.............................. 7-3 SECTION 7.3....................................................................21 Section 7.03. Representations and Warranties....................... 7-3 SECTION 7.4Warranties of the Owner Trustee........................................21 Section 7.04. Reliance; Advice of Counsel.......................... 7-4 SECTION 7.5................................................................22 Section 7.05. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6. Owner Trustee Not Liable for Certificates, Notes or Contracts................................... 7-5 SECTION 7.7. Owner Trustee May Own Certificates and Notes......... 7-5 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-5..........................................................22

Concerning the Owner Trustee. 7-1 SECTION 21 Section 7.1. Acceptance of Trust Trusts and Duties....................... 7-1 SECTION 7.2. .........................21 Section 7.2 Furnishing of Documents.............................. 7-3 SECTION .................................22 Section 7.3. Representations and Warranties....................... 7-3 SECTION ..........................22 Section 7.4. Reliance; Advice of Counsel.......................... 7-4 SECTION 7.5. .............................23 Section 7.5 Not Acting in Individual Capacity.................... 7-4 SECTION .......................23 Section 7.6. Owner Trustee Not Liable for Certificates, Notes Certificates or Contracts................................... 7-5 SECTION Receivables ............................................24 Section 7.7. Owner Trustee May Own Certificates and Notes......... 7-5 SECTION Payments from Trust Property............................24 Section 7.8. Certain Matters Relating to FHA Insurance............ 7-5Doing Business in Other Jurisdictions...................24

Concerning the Owner Trustee. 7-1 SECTION 7.1. 23 Section 7.1 Acceptance of Trust Trusts and Duties....................... 7-1 SECTION 7.2. ....................................................... 23 Section 7.2 Furnishing of Documents.............................. 7-3 SECTION 7.3. ............................................................... 24 Section 7.3 Representations and Warranties....................... 7-3 SECTION 7.4. Warranties of Owner Trustee....................................... 25 Section 7.4 Reliance; Advice of Counsel.......................... 7-4 SECTION 7.5. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6. Owner Trustee Not Liable for Certificates, Notes or Contracts................................... 7-5 SECTION 7.7. ........................................................... 26 Section 7.5 Owner Trustee May Own Certificates and Notes......... 7-5 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-5.......................................... 26 Section 7.6 Licenses.............................................................................. 26

Concerning the Owner Trustee. 7-1 25 SECTION 7.1. 7.1 Acceptance of Trust Trusts and Duties....................... 7-1 ..............................................25 SECTION 7.2. 7.2 Furnishing of Documents.............................. 7-3 ......................................................26 SECTION 7.3. 7.3 Representations and Warranties....................... 7-3 Warranties of Owner Trustee..............................27 SECTION 7.4. 7.4 Reliance; Advice of Counsel.......................... 7-4 ..................................................27 SECTION 7.5. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6. Owner Trustee Not Liable for Certificates, Notes or Contracts................................... 7-5 SECTION 7.7. 7.5 Owner Trustee May Own Certificates and Notes......... 7-5 .................................28 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-57.6 Licenses.....................................................................28 ARTICLE VIII

Concerning the Owner Trustee. 7-1 SECTION 7.119 Section 7.01. Acceptance of Trust Trusts and Duties....................... 7-1 SECTION 7.2.......................................................19 Section 7.02. Furnishing of Documents.............................. 7-3 SECTION 7.3...............................................................20 Section 7.03. Representations and Warranties....................... 7-3 SECTION 7.4Warranties of the Trust Company...................................20 Section 7.04. Reliance; Advice of Counsel.......................... 7-4 SECTION 7.5...........................................................21 Section 7.05. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6.....................................................21 Section 7.06. Owner Trustee Not Liable for CertificatesTrust Certificate, Residual Interest Certificate Notes or Contracts................................... 7-5 SECTION 7.7Timeshare Loans..............................................................21 Section 7.07. Owner Trustee May Own Certificates and Notes......... 7-5 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-5..........................................22

Concerning the Owner Trustee. 7-1 24 SECTION 7.1. 7.1 Acceptance of Trust Trusts and Duties....................... 7-1 ....................................................24 SECTION 7.2. 7.2 Furnishing of Documents.............................. 7-3 ............................................................25 SECTION 7.3. 7.3 Representations and Warranties....................... 7-3 Warranties of Owner Trustee....................................26 SECTION 7.4. 7.4 Reliance; Advice of Counsel.......................... 7-4 ........................................................26 SECTION 7.5. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6. Owner Trustee Not Liable for Certificates, Notes or Contracts................................... 7-5 SECTION 7.7. 7.5 Owner Trustee May Own Certificates and Notes......... 7-5 .......................................27 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-57.6 Licenses...........................................................................27 ARTICLE VIII

Concerning the Owner Trustee. 7-1 14 SECTION 7.17.01. Acceptance of Trust Trusts and Duties....................... 7-1 .................................14 SECTION 7.27.02. Furnishing of Documents.............................. 7-3 .........................................15 SECTION 7.37.03. Representations and Warranties....................... 7-3 ..................................16 SECTION 7.47.04. Reliance; Advice of Counsel.......................... 7-4 .....................................16 SECTION 7.57.05. Not Acting in Individual Capacity.................... 7-4 ...............................17 SECTION 7.67.06. Owner Trustee Not Liable for Certificatesthe Certificate, Notes or Contracts................................... 7-5 Receivables.....................................................17 SECTION 7.77.07. Owner Trustee May Own Certificates the Certificate and Notes......... 7-5 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-5.................17

Concerning the Owner Trustee. 7-1 SECTION 7.1Section 7.01. Acceptance of Trust Trusts and Duties....................... 7-1 SECTION 7.2........................ 19 Section 7.02. Furnishing of Documents.............................. 7-3 SECTION 7.3................................ 21 Section 7.03. Representations and Warranties....................... 7-3 SECTION 7.4Warranties of the Owner Trustee.... 21 Section 7.04. Reliance; , Advice of Counsel.......................... 7-4 SECTION 7.5............................ 22 Section 7.05. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6...................... 22 Section 7.06. Owner Trustee Not Liable for Certificates, Notes Trust Certificates or Contracts................................... 7-5 SECTION 7.7Receivables...................................... 22 Section 7.07. Owner Trustee May Own Trust Certificates and Notes......... 7-5 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-5..... 23 ARTICLE EIGHT

Concerning the Owner Trustee. 7-1 SECTION 7.116 Section 6.01. Acceptance of Trust Trusts and Duties....................... 7-1 SECTION 7.2..................................................16 Section 6.02. Furnishing of Documents.............................. 7-3 SECTION 7.3..........................................................17 Section 6.03. Representations and Warranties....................... 7-3 SECTION 7.4...................................................17 Section 6.04. Reliance; Advice of Counsel.......................... 7-4 SECTION 7.5......................................................18 Section 6.05. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6................................................19 Section 6.06. Owner Trustee Not Liable for Certificates, Notes Certificates or Contracts................................... 7-5 SECTION 7.7Related Documents...................19 Section 6.07. Owner Trustee May Own Certificates and Notes......... 7-5 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-5.....................................19

Concerning the Owner Trustee. 7-1 SECTION 7.1. Acceptance of Trust Trusts and Duties....................... 7-1 .........................23 SECTION 7.2. Furnishing of Documents.............................. 7-3 .................................25 SECTION 7.3. Representations and Warranties....................... 7-3 ..........................25 SECTION 7.4. Reliance; Advice of Counsel.......................... 7-4 .............................25 SECTION 7.5. Not Acting in Individual Capacity.................... 7-4 .......................26 SECTION 7.6. Owner Trustee Not Liable for Certificates, Notes Trust Certificates or Contracts................................... 7-5 SECTION 7.7. Owner Trustee May Own Certificates and Notes......... 7-5 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-5Loans.........................26

Concerning the Owner Trustee. 7-1 SECTION 7.1. Acceptance of Trust Trusts and Duties....................... 7-1 .........................31 SECTION 7.2. Furnishing of Documents.............................. 7-3 .................................33 SECTION 7.3. Representations and Warranties....................... 7-3 ..........................33 SECTION 7.4. Reliance; Advice of Counsel.......................... 7-4 .............................33 SECTION 7.5. Not Acting in Individual Capacity.................... 7-4 .......................34 SECTION 7.6. Owner Trustee Not Liable for Certificates, Notes Trust Certificates or Contracts................................... 7-5 SECTION 7.7. Owner Trustee May Own Certificates and Notes......... 7-5 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-5Loans................................................34

Concerning the Owner Trustee. 7-1 SECTION 7.115 Section 7.01. Acceptance of Trust Trusts and Duties....................... 7-1 SECTION 7.2........................15 Section 7.02. Furnishing of Documents.............................. 7-3 SECTION 7.3................................16 Section 7.03. Representations and Warranties....................... 7-3 SECTION 7.4.........................16 Section 7.04. Reliance; Advice of Counsel.......................... 7-4 SECTION 7.5............................17 Section 7.05. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6......................17 Section 7.06. Owner Trustee Not Liable for Certificatesthe Certificate, Notes or Contracts................................... 7-5 SECTION 7.7Receivables...................................17 Section 7.07. Owner Trustee May Own Certificates the Certificate and Notes......... 7-5 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-5........18

Concerning the Owner Trustee. 7-1 SECTION 7.1Section 7.01. Acceptance of Trust Trusts and Duties....................... 7-1 SECTION 7.2.......................................... 19 Section 7.02. Furnishing of Documents.............................. 7-3 SECTION 7.3.................................................. 20 Section 7.03. Representations and Warranties....................... 7-3 SECTION 7.4Warranties of the Owner Trustee...................... 20 Section 7.04. Reliance; , Advice of Counsel.......................... 7-4 SECTION 7.5.............................................. 21 Section 7.05. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6........................................ 22 Section 7.06. Owner Trustee Not Liable for Certificates, Notes Trust Certificates or Contracts................................... 7-5 SECTION 7.7Receivables........... 22 Section 7.07. Owner Trustee May Own Trust Certificates and Notes......... 7-5 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-5....................... 22 ARTICLE EIGHT

Concerning the Owner Trustee. 7-1 SECTION 7.1. 24 Section 9.01 Acceptance of Trust Trusts and Duties....................... 7-1 SECTION 7.2. .........................24 Section 9.02 Furnishing of Documents.............................. 7-3 SECTION 7.3. Representations and Warranties....................... 7-3 SECTION 7.4. .................................25 Section 9.03 Reliance; Advice of Counsel.......................... 7-4 SECTION 7.5. .............................25 Section 9.04 Not Acting in Individual Capacity.................... 7-4 SECTION 7.6. .......................26 Section 9.05 Representations and Warranties of Owner Trustee Not Liable for Certificates, Notes or Contracts................................... 7-5 SECTION 7.7. Owner Trustee May Own Certificates and Notes......... 7-5 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-5Trustee.........26 ARTICLE X

Concerning the Owner Trustee. 7-1 SECTION 7.1Section 7.01. Acceptance of Trust Trusts and Duties....................... 7-1 SECTION 7.2............................................19 Section 7.02. Furnishing of Documents.............................. 7-3 SECTION 7.3....................................................20 Section 7.03. Representations and Warranties....................... 7-3 SECTION 7.4Warranties of the Owner Trustee........................20 Section 7.04. Reliance; , Advice of Counsel.......................... 7-4 SECTION 7.5................................................21 Section 7.05. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6..........................................22 Section 7.06. Owner Trustee Not Liable for Certificates, Notes Trust Certificates or Contracts................................... 7-5 SECTION 7.7Receivables.............22 Section 7.07. Owner Trustee May Own Trust Certificates and Notes......... 7-5 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-5.........................22 ARTICLE EIGHT

Concerning the Owner Trustee. 7-1 25 SECTION 7.1. 7.1 Acceptance of Trust Trusts and Duties....................... 7-1 ..............................................25 SECTION 7.2. 7.2 Furnishing of Documents.............................. 7-3 ......................................................26 SECTION 7.3. 7.3 Representations and Warranties....................... 7-3 Warranties of Owner Trustee..............................27 SECTION 7.4. 7.4 Reliance; Advice of Counsel.......................... 7-4 ..................................................27 SECTION 7.5. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6. Owner Trustee Not Liable for Certificates, Notes or Contracts................................... 7-5 SECTION 7.7. 7.5 Owner Trustee May Own Certificates and Notes......... 7-5 .................................28 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-57.6 Licenses.....................................................................28

Concerning the Owner Trustee. 7-1 SECTION 7.1Section 7.01. Acceptance of Trust Trusts and Duties....................... 7-1 SECTION 7.2...........................................19 Section 7.02. Furnishing of Documents.............................. 7-3 SECTION 7.3...................................................20 Section 7.03. Representations and Warranties....................... 7-3 SECTION 7.4Warranties of the Owner Trustee.......................20 Section 7.04. Reliance; , Advice of Counsel.......................... 7-4 SECTION 7.5...............................................21 Section 7.05. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6.........................................22 Section 7.06. Owner Trustee Not Liable for Certificates, Notes Trust Certificates or Contracts................................... 7-5 SECTION 7.7Receivables............22 Section 7.07. Owner Trustee May Own Trust Certificates and Notes......... 7-5 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-5........................22 ARTICLE EIGHT

Concerning the Owner Trustee. 7-1 SECTION 7.114 Section 7.01. Acceptance of Trust Trusts and Duties....................... 7-1 SECTION 7.2........................14 Section 7.02. Furnishing of Documents.............................. 7-3 SECTION 7.3................................15 Section 7.03. Representations and Warranties....................... 7-3 SECTION 7.4.........................16 Section 7.04. Reliance; Advice of Counsel.......................... 7-4 SECTION 7.5............................16 Section 7.05. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6......................16 Section 7.06. Owner Trustee Not Liable for Certificatesthe Certificate, Notes or Contracts................................... 7-5 SECTION 7.7Receivables...................................17 Section 7.07. Owner Trustee May Own Certificates the Certificate and Notes......... 7-5 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-5........17

Concerning the Owner Trustee. 7-1 25 SECTION 7.1. 7.1 Acceptance of Trust Trusts and Duties....................... 7-1 .......................................................25 SECTION 7.2. 7.2 Furnishing of Documents.............................. 7-3 ...............................................................26 SECTION 7.3. 7.3 Representations and Warranties....................... 7-3 Warranties of Owner Trustee.......................................27 SECTION 7.4. 7.4 Reliance; Advice of Counsel.......................... 7-4 ...........................................................27 SECTION 7.5. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6. Owner Trustee Not Liable for Certificates, Notes or Contracts................................... 7-5 SECTION 7.7. 7.5 Owner Trustee May Own Certificates and Notes......... 7-5 ..........................................28 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-57.6 Licenses..............................................................................28

Concerning the Owner Trustee. 7-1 SECTION 21 Section 7.1. Acceptance of Trust Trusts and Duties....................... 7-1 SECTION 7.2. ................................................. 21 Section 7.2 Furnishing of Documents.............................. 7-3 SECTION .......................................................... 22 Section 7.3. Representations and Warranties....................... 7-3 SECTION .................................................. 22 Section 7.4. Reliance; Advice of Counsel.......................... 7-4 SECTION 7.5. ..................................................... 23 Section 7.5 Not Acting in Individual Capacity.................... 7-4 SECTION ................................................ 23 Section 7.6. Owner Trustee Not Liable for Certificates, Notes Certificates or Contracts................................... 7-5 SECTION Receivables........................ 24 Section 7.7. Owner Trustee May Own Certificates and Notes......... 7-5 SECTION Payments from Trust Property.................................................... 24 Section 7.8. Certain Matters Relating to FHA Insurance............ 7-5Doing Business in Other Jurisdictions........................................... 24

Concerning the Owner Trustee. 7-1 25 SECTION 7.1. 7.1 Acceptance of Trust Trusts and Duties....................... 7-1 ..........................................................25 SECTION 7.2. 7.2 Furnishing of Documents.............................. 7-3 ..................................................................26 SECTION 7.3. 7.3 Representations and Warranties....................... 7-3 Warranties of Owner Trustee..........................................27 SECTION 7.4. 7.4 Reliance; Advice of Counsel.......................... 7-4 ..............................................................27 SECTION 7.5. Not Acting in Individual Capacity.................... 7-4 SECTION 7.6. Owner Trustee Not Liable for Certificates, Notes or Contracts................................... 7-5 SECTION 7.7. 7.5 Owner Trustee May Own Certificates and Notes......... 7-5 .............................................28 SECTION 7.8. Certain Matters Relating to FHA Insurance............ 7-57.6 Licenses.................................................................................28