Defense of the Trust Estate Sample Clauses

Defense of the Trust Estate. (a) If the Trustee has knowledge of any default or breach under the terms of this Agreement or the CBFIs or receives a judicial, administrative or other notice of a claim or dispute with respect to this Agreement or the CBFIs or if for any other reason it is necessary to defend the Trust Estate, the Trustee will give notice to the Technical Committee, the Manager and the Common Representative of such event or receipt of such notice within 1 (one) Business Day following the date on which it obtained knowledge thereof or the date on which it received the respective notice (as applicable), provided, that, subject to the provisions of Section 8.3, the delivery of such notice shall not release the Trustee from any liability.
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Defense of the Trust Estate. The Settlors shall have the obligation to notify in writing to the Trustee of any situation that may affect the Trust Estate. When the Trustee received any notice of any judicial claim, requirements form administrative authorities, judicial, courts or any other instance, in Mexico or abroad, and in general any notice related with the trust estate, trustee shall notify it in writing to the Representative of Settlors and to Collateral Agent. Trustee shall be obliged to grant to the Persons that (i) before Trustee receives an Insolvency Notice, the Representative of Settlors and (ii) after Trustee receives an Insolvency Notification, Collateral Agent indicates in writing, the powers of attorney necessary to defend the Trust Estate. In case that the Representative of Settlors or Collateral Agent, as applicable, refuse to comply with the acts necessary to defend the Trust Estate or do not appoint the Persons to whom such powers of attorney shall be granted, or do not propose the actions necessary to defend the Trust Estate, within 5 (five) days following the reception of the notice in writing of such event or threat, Trustee shall deliver a notice in writing of such negative or omission of the Representative of Settlors or Collateral Agent, to Collateral Agent or to the Representative of Settlors, as applicable, and shall grant the persons or entities that the Representative of Settlors or Collateral Agent, as applicable, indicate in writing, the powers of attorney necessary, to the corresponding Persons in order to defend the Trust Estate. In case that the Representative of Settlors or Collateral Agent do not appoint an attorney-in-fact pursuant to the foregoing, and the lack of defense thereto affects the Trust Estate in a substantial manner, Trustee shall do its best efforts, but shall not be obliged, to xxxxx xxxxxx of attorney to the Persons that Trustee selects to its sole discretion and shall give proper instructions for the defense of the Trust Estate until the Representative of Settlors or Collateral Agent submit instructions in writing respect to such defense. Trustee, its delegates, officers, employees or advisors shall not be liable for the acts of such attorneys-in-fact, nor for the payment of costs, expenses and fees incurred in regarding their appointment and the defense of the Trust Estate. In case that Trustee receives a judicial order or any other notice or claim related to this Agreement on behalf of any third party, the Trustee shall send wi...
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Defense of the Trust Estate. If any action, legal or civil, is necessary to defend the Trust Estate, the Trustee only shall be obligated to grant the necessary powers, with the exception of acts of ownership, in accordance with instructions received from the Beneficiaries and only in favor of the persons designated in said instructions, so that said persons may take charge of the defense of the Trust Estate, and in said situation, the Trustee shall not assume any responsibility for the results of said defense, nor for the expenses and fees incurred with regards to the above, said expenses and fees to be paid directly by the Settlors. In the event of an emergency, the Trustee shall act, provided the Trustee has the necessary funds, while the Beneficiaries designate the special delegate to take charge of the defense.
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Related to Defense of the Trust Estate

  • The Trust Estate The Depositor hereby assigns, transfers, conveys and sets over to the Trustee the sum of $10.00. The Trustee hereby acknowledges receipt of such amount in trust from the Depositor, which amount shall constitute the initial trust estate. The Trustee hereby declares that it will hold the trust estate in trust for the Depositor. It is the intention of the parties hereto that the Trust created hereby constitute a business trust under Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. Section 3801, et seq. (the "Business Trust Act"), and that this document constitute the governing instrument of the Trust. The Trustee is hereby authorized and directed to execute and file a certificate of trust with the Delaware Secretary of State in accordance with the provisions of the Business Trust Act.

  • Title to the Trust Estate Legal title to all the Trust Estate shall be vested at all times in the Issuer as a separate legal entity.

  • Trust Estate The assets subject to this Agreement and the Indenture, transferred by the Depositor to the Issuer and pledged by the Issuer to the Indenture Trustee, which assets consist of all accounts, accounts receivable, contract rights, general intangibles, chattel paper, instruments, documents, money, deposit accounts, certificates of deposit, goods, notes, drafts, letters of credit, advices of credit, investment property, uncertificated securities and rights to payment of any and every kind consisting of, arising from or relating to any of the following: (a) the Mortgage Loans listed in the Mortgage Loan Schedule, and principal due and payable after the Cut-off Date, but not including interest and principal due and payable on any Mortgage Loans on or before the Cut-off Date, together with the Mortgage Files relating to such Mortgage Loans; (b) any Insurance Proceeds, REO Property, Liquidation Proceeds and other recoveries (in each case, subject to clause (a) above), (c) the Trust Accounts, Recoveries, any Custodial Account, any Escrow Account and all amounts deposited therein pursuant to the applicable provisions of this Agreement, (d) any Insurance Policies, (e) the rights of the Depositor under the Mortgage Loan Sale Agreement (f) the Servicing Agreements and (g) all income, revenues, issues, products, revisions, substitutions, replacements, profits, rents and all cash and non-cash proceeds of the foregoing.

  • Release of Trust Estate (a) Subject to the payment of its fees and expenses pursuant to Section 6.07, the Indenture Trustee may, and when required by the provisions of this Indenture shall, execute instruments to release property from the lien of this Indenture, or convey the Indenture Trustee’s interest in the same, in a manner and under circumstances that are not inconsistent with the provisions of this Indenture. No party relying upon an instrument executed by the Indenture Trustee as provided in this Article VIII shall be bound to ascertain the Indenture Trustee’s authority, inquire into the satisfaction of any conditions precedent or see to the application of any monies.

  • Release of Indenture Trust Estate (a) Subject to the payment of its fees and expenses pursuant to Section 6.7, the Indenture Trustee may, and when required by the provisions of this Indenture shall, execute instruments to release property from the lien of this Indenture, or convey the Indenture Trustee’s interest in the same, in a manner and under circumstances that are not inconsistent with the provisions of this Indenture. No party relying upon an instrument executed by the Indenture Trustee as provided in this Article VIII shall be bound to ascertain the Indenture Trustee’s authority, inquire into the satisfaction of any conditions precedent or see to the application of any moneys.

  • No Legal Title to Owner Trust Estate The Certificateholders shall not have legal title to any part of the Owner Trust Estate solely by virtue of their status as a Certificateholder. The Certificateholders shall be entitled to receive distributions with respect to their undivided beneficial interest therein only in accordance with Articles V and VIII. No transfer, by operation of law or otherwise, of any right, title or interest of the Certificateholders to and in their ownership interest in the Owner Trust Estate shall operate to terminate this Trust Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Owner Trust Estate.

  • Title to Owner Trust Estate Legal title to all the Owner Trust Estate shall be vested at all times in the Securitization Trust as a separate legal entity except where applicable law in any jurisdiction requires title to any part of the Owner Trust Estate to be vested in a trustee or trustees, in which case title shall be deemed to be vested in the Owner Trustee, a co-trustee and/or a separate trustee, as the case may be.

  • No Legal Title to Owner Trust Estate in Certificateholders The Certificateholders shall not have legal title to any part of the Owner Trust Estate. The Certificateholders shall be entitled to receive distributions with respect to their undivided ownership interest therein only in accordance with Articles V and IX. No transfer, by operation of law or otherwise, of any right, title or interest of the Certificateholders to and in their ownership interest in the Owner Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Owner Trust Estate.

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