Common use of Duties of Grantor Trustee Clause in Contracts

Duties of Grantor Trustee. The Grantor Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. The Grantor Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Grantor Trustee which are specifically required to be furnished pursuant to any provision of this Agreement, shall examine them to determine whether they are in the form required by this Agreement but the Grantor Trustee shall not be required to determine, confirm or recalculate information contained in such instruments. No provision of this Agreement shall be construed to relieve the Grantor Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; provided, however, that:

Duties of Grantor Trustee. The Grantor Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. The Grantor Trustee, upon receipt of all resolutions, certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Grantor Trustee which are specifically required to be furnished pursuant to any provision of this Agreement, shall examine them to determine whether they are in the form required by this Agreement but the Grantor Trustee shall not be required to determine, confirm or recalculate information contained in such instruments. No provision of this Agreement shall be construed to relieve the Grantor Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct; providedPROVIDED, howeverHOWEVER, that: