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)

AutoNDA by SimpleDocs

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)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.