Common use of Fees and Expenses of Trustee and Custodian Clause in Contracts

Fees and Expenses of Trustee and Custodian. The Trustee shall be entitled to receive, and is authorized to pay itself, any investment income and earnings on the Certificate Account. The Trustee shall be entitled to reimbursement of all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with this Agreement (including fees and expenses of its counsel and all persons not regularly in its employment and any amounts described in Section 10.01 to which the Trustee is entitled as provided therein), except for expenses, disbursements and advances that either (i) do not constitute “unanticipated expenses” within the meaning of Treasury Regulation Section 1.860G-1(b)(3)(ii) or (ii) arise from its negligence, bad faith or willful misconduct. Each Custodian shall receive compensation and reimbursement or payment of its expenses under the applicable Custodial Agreement as provided therein; provided that, to the extent required under the Custodial Agreement, the Trustee is hereby authorized to pay such compensation from amounts on deposit in the Certificate Account prior to any distributions to Certificateholders pursuant to Section 5.02 hereof.

Appears in 2 contracts

Samples: Trust Agreement (Lehman Mortgage Trust 2006-8), Trust Agreement (Lehman Mortgage Trust 2006-9)

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Fees and Expenses of Trustee and Custodian. The Trustee shall be entitled to receive, and is authorized to pay itself, any investment income and earnings on the Certificate Account. The Trustee shall be entitled to reimbursement of all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with this Agreement (including fees and expenses of its counsel and all persons not regularly in its employment and any amounts described in Section 10.01 to which the Trustee is entitled as provided therein), except for expenses, disbursements and advances that either (i) do not constitute “unanticipated expenses” within the meaning of Treasury Regulation Section 1.860G-1(b)(3)(ii) or (ii) arise from its negligence, bad faith or willful misconduct. Each The Custodian shall receive compensation and reimbursement or payment of its expenses under the applicable Custodial Agreement as provided therein; provided that, to the extent required under Section 6 or Section 20 of the Custodial Agreement, the Trustee is hereby authorized to pay such compensation or reimbursement from amounts on deposit in the Certificate Account prior to any distributions to Certificateholders pursuant to Section 5.02 hereof.. 119

Appears in 1 contract

Samples: Trust Agreement (First Franklin Mortgage Loan Trust 2006-Ff12)

Fees and Expenses of Trustee and Custodian. The Trustee shall be entitled to receive, and is authorized to pay itself, any investment income and earnings on the Certificate Account. The Trustee shall be entitled to reimbursement of all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with this Agreement (including fees and expenses of its counsel and all persons not regularly in its employment and any amounts described in Section 10.01 to which the Trustee is entitled as provided therein), except for expenses, disbursements and advances that either (i) do not constitute “unanticipated expenses” within the meaning of Treasury Regulation Section 1.860G-1(b)(3)(ii) or (ii) arise from its negligence, bad faith or willful misconduct. Each The Custodian shall receive compensation and reimbursement or payment of its expenses under the applicable Custodial Agreement as provided therein; provided that, to the extent required under Section 6 or Section 20 of the Custodial Agreement, the Trustee is hereby authorized to pay such compensation or reimbursement from amounts on deposit in the Certificate Account prior to any distributions to Certificateholders pursuant to Section 5.02 hereof.. 125

Appears in 1 contract

Samples: Trust Agreement (First Franklin Mortgage Loan Trust 2006-FFB)

Fees and Expenses of Trustee and Custodian. The Trustee shall be entitled to receive, and is authorized to pay itself, any investment income and earnings on the Certificate Account. The Trustee shall be entitled to reimbursement of all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with this Agreement (including fees and expenses of its counsel and all persons not regularly in its employment and any amounts described in Section 10.01 to which the Trustee is entitled as provided therein), except for expenses, disbursements and advances that either (i) do not constitute “unanticipated expenses” within the meaning of Treasury Regulation Section 1.860G-1(b)(3)(ii) or (ii) arise from its negligence, bad faith or willful misconduct. Each Custodian shall receive compensation and reimbursement or payment of its expenses under the applicable related Custodial Agreement as provided therein; provided that, to the extent required under Section 6 or Section 20 of the Custodial Agreement, the Trustee is hereby authorized to pay such compensation or reimbursement from amounts on deposit in the Certificate Account prior to any distributions to Certificateholders pursuant to Section 5.02 hereof.. 108

Appears in 1 contract

Samples: Trust Agreement (Structured Asset Securities Corp 2006-S1)

Fees and Expenses of Trustee and Custodian. The Trustee shall be entitled to receive, and is authorized to pay itself, any investment income and earnings on the Certificate Account. The Trustee shall be entitled to reimbursement of all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with this Agreement (including fees and expenses of its counsel and all persons not regularly in its employment and any amounts described in Section 10.01 to which the Trustee is entitled as provided therein), except for expenses, disbursements and advances that either (i) do not constitute “unanticipated expenses” within the meaning of Treasury Regulation Section 1.860G-1(b)(3)(ii) or (ii) arise from its negligence, bad faith or willful misconduct. Each The Custodian shall receive compensation and reimbursement or payment of its expenses under the applicable Custodial Agreement as provided therein; provided that, to the extent required under Section 6 or Section 20 of the Custodial Agreement, the Trustee is hereby authorized to pay such compensation or reimbursement from amounts on deposit in the Certificate Account prior to any distributions to Certificateholders pursuant to Section 5.02 hereof.. 118

Appears in 1 contract

Samples: Trust Agreement (First Franklin Mortgage Loan Trust 2006-Ff14)

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Fees and Expenses of Trustee and Custodian. The Trustee shall be entitled to receive, and is authorized to pay itself, any investment income and earnings on the Certificate Account. The Trustee shall be entitled to reimbursement of all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with this Agreement (including fees and expenses of its counsel and all persons not regularly in its employment and any amounts described in Section 10.01 to which the Trustee is entitled as provided therein), except for expenses, disbursements and advances that either (i) do not constitute “unanticipated expenses” within the meaning of Treasury Regulation Section 1.860G-1(b)(3)(ii) or (ii) arise from its negligence, bad faith or willful misconduct. Each Custodian shall receive compensation and reimbursement or payment of its expenses under the applicable Custodial Agreement as provided therein; provided that, to the extent required under the Custodial Agreement, the Trustee is hereby authorized to pay such compensation or indemnity amounts from amounts on deposit in the Certificate Account prior to any distributions to Certificateholders pursuant to Section 5.02 hereof.. 123

Appears in 1 contract

Samples: Re: Trust Agreement (Lehman Mortgage Trust 2007-5)

Fees and Expenses of Trustee and Custodian. The Trustee shall be entitled to receive, and is authorized to pay itself, any investment income and earnings on the Certificate Account. The Trustee shall be entitled to reimbursement of all reasonable costs, expenses, disbursements and advances incurred or made by the Trustee in accordance with this Agreement (including fees and expenses of its counsel and all persons not regularly in its employment and any amounts described in Section 10.01 to which the Trustee is entitled as provided therein), except for expenses, disbursements and advances that either (i) do not constitute “unanticipated expenses” within incurred by the meaning Trustee in the routine administration of Treasury Regulation Section 1.860G-1(b)(3)(ii) or (ii) arise its duties hereunder and any such expenses arising from its negligence, bad faith or willful misconduct. Each As provided herein, the Trustee shall be entitled to all income, gain or other earnings on amounts on deposit in the Certificate Account from time to time as additional compensation. The Custodian shall receive compensation and reimbursement or payment of its expenses under the applicable Custodial Agreement as provided therein; provided that, to the extent required under Section 6 of the Custodial Agreement, the Trustee is hereby authorized to pay such compensation from amounts on deposit in the Certificate Account prior to any distributions to Certificateholders pursuant to Section 5.02 hereof.

Appears in 1 contract

Samples: Trust Agreement (SASCO Mortgage Pass Through Certificates, Series 2005-Nc2)

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