Depositary Not a Trustee, Issuer, etc Sample Clauses

Depositary Not a Trustee, Issuer, etc. The Depositary is not a trustee and it is intended that the Depositary, in its capacity as depositary, shall not be deemed to be an "issuer" or "underwriter" of securities under the federal securities laws or applicable state securities laws; it being expressly understood and agreed that the Depositary, in its capacity as the limited partner of the Limited Partnership, is acting only in a ministerial capacity.
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Depositary Not a Trustee, Issuer, etc. The Depositary is not a trustee. The Depositary shall have no right or legal or equitable title to Certificates deposited under this Agreement or the Units evidenced thereby. The Depositary shall have no right or power to sell, invest in, pledge, mortgage or borrow against any Certificates deposited under this Agreement or the Units evidenced thereby. It is intended that the Depositary in its capacity as depositary not be needed to be an “issuer” or “underwriter” of securities under the Federal securities laws or applicable state securities laws, it being expressly understood and agreed that the Depositary is acting only as a ministerial depositary for Certificates and the Units evidenced thereby.
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Depositary Not a Trustee, Issuer, etc. Neither the Depositary, in its capacity hereunder, nor any Depositary’s Agent shall be deemed a trustee. The Depositary shall hold or be deemed to hold the Deposited Securities solely for the benefit of the Record Holders and Assignees, apply all moneys received with respect to the Deposited Securities to the Record Holders, and neither the Depositary nor any Depositary’s Agent shall have any equitable title to the Deposited Securities. Except as provided herein, the Depositary shall have no right or power to assign, transfer, invest in, pledge, mortgage, borrow against or otherwise dispose of any Deposited Securities, nor shall the Deposited Securities be subject to any right, charge, security interest, lien, or claim of any kind in favor of the Depositary (except for a possessory lien that may be imposed by the Depositary upon books, records, documents or other properties other than the Deposited Securities for nonpayment of fees or expenses hereunder). The Record Holders and the Assignees, as beneficial owners of the Deposited Securities, have all of the rights and privileges of a holder of transferable securities, except that the Depositary has the exclusive right to hold the Deposited Securities on behalf of the Record Holders and Assignees. Neither the Depositary nor any Depositary’s Agent shall have any right by virtue hereof to vote in meetings of, receive distributions from (except as provided in Section 7.02) or have any interest in, the Trust. It is the intention of the parties hereto that neither the Depositary nor any Depositary’s Agent shall be deemed to be an “issuer” or an “underwriter” of securities under the Federal securities laws or applicable state securities laws, and the parties hereto expressly agree hereby that the Depositary and the Depositary’s Agents are acting hereunder only in a ministerial capacity as depositary for the Deposited Securities. Each Record Holder and Assignee shall have the right, upon default of the Deposited Securities, to proceed directly and individually against the issuers thereof, and no Record Holder or Assignee will be required to act in concert with the Depositary or any other Person in such proceedings.
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Depositary Not a Trustee, Issuer, etc. The Depositary is not a trustee and it is intended that the Depositary, in its capacity as depositary, shall not be deemed to
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Related to Depositary Not a Trustee, Issuer, etc

  • Indenture Trustee Not Obligated Notwithstanding anything to the contrary herein, the Indenture Trustee is not obligated to enter into an amendment that adversely affects the Indenture Trustee’s rights, powers, duties, obligations, liabilities, indemnities or immunities under this Indenture.

  • Trustee, Paying Agents, Conversion Agents or Note Registrar May Own Notes The Trustee, any Paying Agent, any Conversion Agent or Note Registrar, in its individual or any other capacity, may become the owner or pledgee of Notes with the same rights it would have if it were not the Trustee, Paying Agent, Conversion Agent or Note Registrar.

  • Trustee and Securities Administrator Not Liable for Certificates The Trustee and the Securities Administrator make no representations as to the validity or sufficiency of this Agreement or of the Certificates (other than, in the case of the Securities Administrator, the certificate of authentication on the Certificates) or of any Mortgage Loan, or related document save that the Trustee and the Securities Administrator represent that, assuming due execution and delivery by the other parties hereto, this Agreement has been duly authorized, executed and delivered by it and constitutes its valid and binding obligation, enforceable against it in accordance with its terms except that such enforceability may be subject to (A) applicable bankruptcy and insolvency laws and other similar laws affecting the enforcement of the rights of creditors generally, and (B) general principles of equity regardless of whether such enforcement is considered in a proceeding in equity or at law. The Trustee and the Securities Administrator shall not be accountable for the use or application by the Depositor of funds paid to the Depositor in consideration of the assignment of the Mortgage Loans to the Trust Fund by the Depositor or for the use or application of any funds deposited into the Distribution Account or any other fund or account maintained with respect to the Certificates. The Trustee and the Securities Administrator shall not be responsible for the legality or validity of this Agreement or the validity, priority, perfection or sufficiency of the security for the Certificates issued or intended to be issued hereunder. Except as otherwise provided herein, the Trustee and the Securities Administrator shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security interest or lien granted to it hereunder or to record this Agreement.

  • Issuer To Furnish Indenture Trustee Names and Addresses of Noteholders If and so long as the Indenture Trustee is not the Note Registrar, the Issuer shall furnish or cause to be furnished to the Indenture Trustee (i) not more than five (5) days after each Record Date, a list, in such form as the Indenture Trustee may reasonably require, of the names and addresses of the Holders of Notes as of such Record Date and (ii) at such other times as the Indenture Trustee may request in writing, within thirty (30) days after receipt by the Issuer of any such request, a list of similar form and content as of a date not more than ten (10) days prior to the time such list is furnished; provided, however, that, with respect to Notes issued as Book-Entry Notes, no such list shall be required to be furnished.

  • Rules by Trustee, Paying Agent, Registrar The Trustee may make reasonable rules for action by or at a meeting of Securityholders. The Paying Agent or Registrar may make reasonable rules for its functions.

  • Trustee, Paying Agent and Security Registrar May Hold Securities The Trustee, subject to certain limitations imposed by the TIA, or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not Trustee, paying agent or Security Registrar.

  • Trustee, Paying Agents, Conversion Agents, Bid Solicitation Agent or Note Registrar May Own Notes The Trustee, any Paying Agent, any Conversion Agent, Bid Solicitation Agent (if other than the Company or any Affiliate thereof) or Note Registrar, in its individual or any other capacity, may become the owner or pledgee of Notes with the same rights it would have if it were not the Trustee, Paying Agent, Conversion Agent, Bid Solicitation Agent or Note Registrar.

  • Rules by Trustee, Paying Agent and Registrar The Trustee may make reasonable rules for action by or a meeting of Holders. The Registrar and the Paying Agent may make reasonable rules for their functions.

  • Issuing Entity to Furnish Indenture Trustee Names and Addresses of Noteholders The Issuing Entity will furnish or cause to be furnished to the Indenture Trustee (a) not more than five days after the earlier of (i) each Record Date and (ii) three months after the last Record Date, a list, in such form as the Indenture Trustee may reasonably require, of the names and addresses of the Holders of Notes as of such Record Date, and (b) at such other times as the Indenture Trustee may request in writing, within 30 days after receipt by the Issuing Entity of any such request, a list of similar form and content as of a date not more than 10 days prior to the time such list is furnished; provided, however, that so long as the Indenture Trustee is the Note Registrar, no such lists shall be required to be furnished.

  • Owner Trustee Not Liable for Trust Certificates The recitals contained herein and in the Trust Certificates (other than the signature of the Owner Trustee and the certificate of authentication on the Trust Certificates and its representations and warranties in Section 7.03) shall be taken as the statements of the Transferor and the Owner Trustee assumes no responsibility for the correctness thereof. The Owner Trustee makes no representations as to the validity or sufficiency of this Agreement, any other Basic Document or the Trust Certificates (other than the signature of the Owner Trustee and the certificate of authentication on the Trust Certificates) or the Notes or any offering document relating to either of them. The Owner Trustee shall at no time have any responsibility or liability for or with respect to the legality, validity or enforceability of any Basic Document to which the Owner Trustee is to be a party (except for enforceability against the Owner Trustee), or the perfection and priority of any security interest created by or under any Basic Document, or the maintenance of any such perfection and priority, or for or with respect to the sufficiency of the Owner Trust Estate or its ability to generate the payments to be distributed to Trust Certificateholders or to the Noteholders under the Indenture, or the validity of the transfer of the 20[__]-[__] SUBI Certificate to the Issuer, or for the compliance by the Transferor, the Administrator or the Servicer with any warranty or representation made under any Basic Document or for the accuracy of any such warranty or representation or for any action of the Administrator, the Servicer or the Indenture Trustee taken in the name of the Owner Trustee.

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