Common use of Exchange Act Rule 17g-5 Procedures Clause in Contracts

Exchange Act Rule 17g-5 Procedures. The Trustee shall not communicate with (including verbal communication) or provide information to any Rating Agency regarding anything related to this Agreement without prior consultation with the [_________________] to ensure compliance with Rule 17g-5 under the Exchange Act (“Rule 17g-5”). With respect to any document, notice or other information required pursuant to this Agreement to be sent by the Trustee to any Rating Agency, the Trustee agrees to provide any such document, notice or other information to [_________________] for posting on its Rule 17g-5 compliant website related to this transaction (the “Rule 17g-5 Website”). [_________________] shall promptly confirm to the Trustee any such document, notice or other information has been posted to the Rule 17g-5 Website as a condition to the Trustee providing such document, notice or other information to any Rating Agency. Notwithstanding anything to the contrary in this Agreement, the Trustee shall have no obligation to deliver such document, notice or other information to any Rating Agency until such applicable party has received written confirmation from [_________________] of the posting of such document, notice or other information by [_________________] to the Rule 17g-5 Website, and the Trustee shall not be liable for any failure to deliver such document, notice or other information to any Rating Agency prior to any applicable deadline in this Agreement where such failure is caused by any failure or inability of [_________________] timely to provide such written confirmation. The Trustee, pursuant to procedures mutually agreed upon with [_________________], shall require that any person attempting to access the Trustee website related to this transaction represent that they are not an employee or representative of a rating agency, provided that the Trustee shall bear no expense or liability relating to any representation made by any person attempting to access the Trustee website.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Phoenix Residential Securities, LLC), Pooling and Servicing Agreement (Phoenix Residential Securities, LLC), Pooling and Servicing Agreement (Phoenix Residential Securities, LLC)

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Exchange Act Rule 17g-5 Procedures. The Trustee shall not communicate with (including verbal communication) or provide information to any Rating Agency regarding anything related to this Agreement without prior consultation with the [_________________[ ] to ensure compliance with Rule 17g-5 under the Exchange Act (“Rule 17g-5”). With respect to any document, notice or other information required pursuant to this Agreement to be sent by the Trustee to any Rating Agency, the Trustee agrees to provide any such document, notice or other information to [_________________[ ] for posting on its Rule 17g-5 compliant website related to this transaction (the “Rule 17g-5 Website”). [_________________[ ] shall promptly confirm to the Trustee any such document, notice or other information has been posted to the Rule 17g-5 Website as a condition to the Trustee providing such document, notice or other information to any Rating Agency. Notwithstanding anything to the contrary in this Agreement, the Trustee shall have no obligation to deliver such document, notice or other information to any Rating Agency until such applicable party has received written confirmation from [_________________[ ] of the posting of such document, notice or other information by [_________________[ ] to the Rule 17g-5 Website, and the Trustee shall not be liable for any failure to deliver such document, notice or other information to any Rating Agency prior to any applicable deadline in this Agreement where such failure is caused by any failure or inability of [_________________[ ] timely to provide such written confirmation. The Trustee, pursuant to procedures mutually agreed upon with [_________________[ ], shall require that any person attempting to access the Trustee website related to this transaction represent that they are not an employee or representative of a rating agency, provided that the Trustee shall bear no expense or liability relating to any representation made by any person attempting to access the Trustee website.

Appears in 2 contracts

Samples: Custodial Agreement (Phoenix Residential Securities, LLC), Pooling and Servicing Agreement (Phoenix Residential Securities, LLC)

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Exchange Act Rule 17g-5 Procedures. The None of the Issuer, either Servicer or the Indenture Trustee shall not communicate with (including verbal communication) or provide information to any Rating Agency regarding anything related to this Agreement the transactions contemplated herein without prior consultation with the [_________________] Program Manager or a designee appointed by the Issuer to ensure compliance with Rule 17g-5 under the Securities Exchange Act of 1934 (“Rule 17g-5”). With respect to any document, notice or other information required pursuant to this Agreement to be sent by the Trustee to any Rating Agency, the Trustee party with such requirement agrees to provide any such document, notice or other information to [_________________] the Program Manager or a designee appointed by the Issuer for posting on its Rule 17g-5 compliant website related to this transaction (the “Rule 17g-5 Website”). [_________________] The Program Manager or the designee appointed by the Issuer shall promptly confirm to the Trustee such party that any such document, notice or other information has been posted to the Rule 17g-5 Website as a condition to the Trustee party providing such document, notice or other information to any Rating Agency. Notwithstanding anything to the contrary in this Agreement, the Trustee no party shall have no an obligation to deliver such document, notice or other information to any the Rating Agency Agencies until such applicable party has received written confirmation from [_________________] the Program Manager or the designee appointed by the Issuer of the posting of such document, notice or other information by [_________________] the Program Manager or the designee appointed by the Issuer to the Rule 17g-5 Website, and the Trustee such party shall not be liable for any failure to deliver such document, notice or other information to any the Rating Agency Agencies prior to any applicable deadline in this Agreement where such failure is caused by any failure or inability of [_________________] the Program Manager or the designee appointed by the Issuer timely to provide such written confirmation. The TrusteeIn the event that there is no longer a Program Manager, pursuant the Issuer shall appoint a designee to procedures mutually agreed upon with [_________________], shall require that any person attempting to access perform the Trustee website related to duties of the Program Manager under this transaction represent that they are not an employee or representative of a rating agency, provided that the Trustee shall bear no expense or liability relating to any representation made by any person attempting to access the Trustee websiteSection 6.15.

Appears in 1 contract

Samples: www.nyc.gov

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