Common use of Duties of Trustee and the Securities Administrator Clause in Contracts

Duties of Trustee and the Securities Administrator. (a) The Trustee, except during the continuance of an Event of Default, and the Securities Administrator undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. Any permissive right of the Trustee or the Securities Administrator provided for in this Agreement shall not be construed as a duty of the Trustee or the Securities Administrator. If an Event of Default has occurred and has not otherwise been cured or waived, the Trustee or the Securities Administrator shall exercise such of the rights and powers vested in it by this Agreement and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs, unless the Trustee is acting as master servicer, in which case it shall use the same degree of care and skill (in its capacity as successor Master Servicer) as a master servicer hereunder.

Duties of Trustee and the Securities Administrator. (a) The Trustee, except during the continuance of an Event of Default, and the Securities Administrator undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. Any permissive right of the Trustee or the Securities Administrator provided for in this Agreement shall not be construed as a duty of the Trustee or the Securities Administrator. If an Event of Default has occurred and has not otherwise been cured or waived, the Trustee or the Securities Administrator shall exercise such of the rights and powers vested in it by this Agreement and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs, unless the Trustee is acting as master servicerservicer of the Mortgage Loans, in which case it shall use the same degree of care and skill (in its capacity as successor Master Servicer) as a master servicer of the Mortgage Loans hereunder.

Duties of Trustee and the Securities Administrator. (a) The Trustee, except during the continuance of an Event of Default, Default and the Securities Administrator undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. Any permissive right of the Trustee or the Securities Administrator provided for in this Agreement shall not be construed as a duty of the Trustee or the Securities Administrator. If an Event of Default has occurred and has not otherwise been cured or waived, the Trustee or the Securities Administrator shall exercise such of the rights and powers vested in it by this Agreement and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs, unless the Trustee is acting as master servicerMaster Servicer, in which case it shall use the same degree of care and skill (in its capacity as successor the Master Servicer) as a master servicer Servicer hereunder.

Duties of Trustee and the Securities Administrator. (a) The Trustee, except during the continuance of an Event of Default, and the Securities Administrator undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. Any permissive right of the Trustee or the Securities Administrator provided for in this Agreement shall not be construed as a duty of the Trustee or the Securities Administrator. If an Event of Default has occurred and has not otherwise been cured or waived, the Trustee or the Securities Administrator shall exercise such of the rights and powers vested in it by this Agreement and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s 's own affairs, unless the Trustee is acting as master servicer, in which case it shall use the same degree of care and skill (in its capacity as successor Master Servicer) as a master servicer hereunder.

Duties of Trustee and the Securities Administrator. (a) The Trustee, except during the continuance of an Event of Default, and the Securities Administrator undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. Any permissive right of the Trustee or the Securities Administrator provided for in this Agreement shall not be construed as a duty of the Trustee or the Securities Administrator. If an Event of Default has occurred and has not otherwise been cured or waived, the Trustee or the Securities Administrator shall exercise such of the rights and powers vested in it by this Agreement and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s 's own affairs, unless the Trustee is acting as master servicerMaster Servicer, in which case it shall use the same degree of care and skill (in its capacity as successor the Master Servicer) as a master servicer Servicer hereunder.

Duties of Trustee and the Securities Administrator. (a) The Trustee, except during the continuance of an Event of Default, and the Securities Administrator undertakes undertake to perform such duties and only such duties as are specifically set forth in this AgreementAgreement as duties of the Trustee or Securities Administrator, as applicable. Any permissive right of the Trustee or the Securities Administrator provided for in this Agreement shall not be construed as a duty of the Trustee or the Securities Administrator. If an Event of Default has occurred and has not otherwise been cured or waived, the Trustee or the Securities Administrator shall exercise such of the rights and powers vested in it by this Agreement and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs, unless the Trustee is acting as master servicerservicer of the Mortgage Loans, in which case it shall use the same degree of care and skill (in its capacity as successor Master Servicer) as a master servicer of the Master Loans hereunder.

Duties of Trustee and the Securities Administrator. (a) The Trustee, except during the continuance of an Event of Default, Default and the Securities Administrator undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. Any permissive right of the Trustee or the Securities Administrator provided for in this Agreement shall not be construed as a duty of the Trustee or the Securities Administrator. If an Event of Default has occurred and has not otherwise been 98795 Sequoia 2004-1 Pooling and Servicing Agmt. 62 cured or waived, the Trustee or the Securities Administrator shall exercise such of the rights and powers vested in it by this Agreement and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s own affairs, unless the Trustee is acting as master servicerMaster Servicer, in which case it shall use the same degree of care and skill (in its capacity as successor the Master Servicer) as a master servicer Servicer hereunder.

Duties of Trustee and the Securities Administrator. (a) The Trustee, except during the continuance of an Event of Default, Default and the Securities Administrator undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. Any permissive right of the Trustee or the Securities Administrator provided for in this Agreement shall not be construed as a duty of the Trustee or the Securities Administrator. If an Event of Default has occurred and has not otherwise been cured or waived, the Trustee or the Securities Administrator shall exercise such of the rights and powers vested in it by this Agreement and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such 113535 Sequoia 2004-7 Pooling and Servicing Agmt. Person’s 's own affairs, unless the Trustee is acting as master servicerMaster Servicer, in which case it shall use the same degree of care and skill (in its capacity as successor the Master Servicer) as a master servicer Servicer hereunder.

Duties of Trustee and the Securities Administrator. (a) The Trustee, except during the continuance of an Event of Default, and the Securities Administrator undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. Any permissive right of the Trustee or the Securities Administrator provided for in this Agreement shall not be construed as a duty of the Trustee or the Securities Administrator. If an Event of Default has occurred and has not otherwise been cured or waived, the Trustee or the Securities Administrator shall exercise such of the rights and powers vested in it by this Agreement and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such Person’s 's own affairs, unless the Trustee is acting as master servicerservicer of the Xxxxxx Trust Mortgage Loans, in which case it shall use the same degree of care and skill (in its capacity as successor Master Servicer) as a master servicer of the Xxxxxx Trust Mortgage Loans hereunder.

Duties of Trustee and the Securities Administrator. (a) The Trustee, except during the continuance of an Event of Default, Default and the Securities Administrator undertakes to perform such duties and only such duties as are specifically set forth in this Agreement. Any permissive right of the Trustee or the Securities Administrator provided for in this Agreement shall not be construed as a duty of the Trustee or the Securities Administrator. If an Event of Default has occurred and has not otherwise been cured or waived, the Trustee or the Securities Administrator shall exercise such of the rights and powers vested in it by this Agreement and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in the conduct of such 109323 Sequoia 2004-5 Pooling and Servicing Agmt. Person’s 's own affairs, unless the Trustee is acting as master servicerMaster Servicer, in which case it shall use the same degree of care and skill (in its capacity as successor the Master Servicer) as a master servicer Servicer hereunder.