Discretion of Trustee. The Trustee, in its actions pursuant to this Agreement, shall be fully protected in every reasonable exercise of its discretion and shall have no obligations hereunder either to the Company or to any other party, except as expressly set forth herein and as stated in Rule 419 of the Securities Act of 1933. It is understood and agreed that the duties of the Trustee are entirely ministerial, being limited to receiving and holding and disbursing such Funds in accordance with this Agreement.
Discretion of Trustee. Save as expressly otherwise provided in this Trust Deed, as between itself and the Issuer, the Noteholders and the Couponholders, the Trustee will have absolute and uncontrolled discretion as to the exercise of the discretions, powers, trusts and functions hereby vested in the Trustee and will not be responsible for any loss, liability, cost, claim, action, demand, damages, expenses or inconvenience which may result from their exercise or non-exercise.
Discretion of Trustee. Save as expressly provided in this Trust Deed, the Trustee will have absolute and uncontrolled discretion as to the exercise of its functions hereby vested in the Trustee and will not be responsible for the exercise or non-exercise thereof nor for any loss, liability, cost, claim, action, demand, expenses or inconvenience which may result from their exercise or non-exercise, but, whenever the Trustee is under the provisions of this Trust Deed or the Notes bound to act at the request or direction of the Noteholders, the Trustee shall nevertheless not be so bound unless first indemnified and/or secured and/or prefunded to its satisfaction against all actions, proceedings, claims and demands to which it may render itself liable and all costs, charges, damages, expenses and liabilities which it may incur by so doing.
Discretion of Trustee. Except as may otherwise be expressly provided herein, the Trustee’s exercise or nonexercise of powers and discretions in good faith, and without negligence, shall be conclusive on all persons and the Trustee shall have no liability therefor.
Discretion of Trustee. Actions of Bondholders ---------------------------------------------
Discretion of Trustee. The Trustee will have absolute and uncontrolled discretion as to the exercise of its functions and will not be responsible for any loss, liability, cost, claim, action, demand, expenses or inconvenience which may result from their exercise or non-exercise.
Discretion of Trustee. Within the limitations and restrictions expressed and imposed herein, the Trustee may act freely with respect to the exercise of any or all of the rights, powers, and authority conferred hereby in all matters concerning the Trust Estate after forming his best judgment based upon the circumstances without the necessity of obtaining the consent or permission or authorization of the Beneficial Interestholders or of the Court, any other court, official, or officer. The rights, powers, and authority conferred on the Trustee by this Agreement are conferred in contemplation of such freedom of prudent judgment and action by the Trustee, within the limitations and restrictions so expressed and imposed. Further, the Trustee shall not be liable for any act or omission in connection with the administration of this Liquidating Trust, or the exercise of any right, power, or authority conferred upon him hereunder, unless it shall be proved that such Trustee was grossly negligent or acted in a manner which constituted willful misconduct.
Discretion of Trustee. Where reference is made in this Trust Deed to a discretion of the Trustee, such discretion shall mean the exclusive and absolute discretion of the Trustee as it deems fit.
Discretion of Trustee. Every discretion or power hereby or by law conferred on the Trustee shall be an absolute and uncontrolled discretion or power and no Trustee shall be held liable for any loss or damage occurring as a result of the Trustee concurring or refusing or failing to concur in an exercise of any such discretion or power. No Trustee shall be liable for any error of judgment or mistake of law or other mistake or for anything save the wilful misconduct or wilful breach of this Trust or fraud by such Trustee, and each Trustee shall be held harmless against any claims, losses, death duties, succession duties, inheritance and other taxes and impositions arising in connection with the Trust Fund or any part thereof, unless such Trustee has committed an act of wilful misconduct, wilful breach of this Trust or fraud.
Discretion of Trustee. With respect to any disputes among the Trustee and the Servicer which arise concerning the terms and provisions of this MRB Servicing Agreement, the meaning thereof, or decisions to be made thereunder, the judgment of the Trustee shall govern.
