Common use of Duties of Grantor Trustee Clause in Contracts

Duties of Grantor Trustee. (a) The Grantor Trustee, prior to the occurrence of a Servicing Default and after the curing or waiver of all Servicing Defaults which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Grantor Trust Agreement. In case a Servicing Default has occurred (which has not been cured or waived), the Grantor Trustee shall exercise such of the rights and powers vested in it by this Grantor Trust Agreement, and use the same degree of care and skill in their exercise as a prudent investor would exercise or use under the circumstances in the conduct of such investor's own affairs.