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 or indemnity amounts from amounts on deposit in the Certificate Account prior to any distributions to Certificateholders pursuant to Section 5.02 hereof. The provisions of this Section 6.12 shall survive the termination of this Agreement and the resignation or removal of the Trustee.

Appears in 3 contracts

Samples: Trust Agreement (Lehman Mortgage Trust 2007-6), Trust Agreement (Lehman Mortgage Trust 2007-3), Trust Agreement (Lehman Mortgage Trust 2007-2)

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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. The provisions of this Section 6.12 shall survive the termination of this Agreement and the resignation or removal of the Trustee.. 101

Appears in 1 contract

Samples: Trust Agreement (Lehman Mortgage Trust 2008-2)

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. The provisions of this the Section 6.12 shall survive the termination of this Agreement and the resignation or removal of the Trustee.. 108

Appears in 1 contract

Samples: Trust Agreement (Lehman Mortgage Trust 2007-7)

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. The provisions of this the Section 6.12 shall survive the termination of this Agreement and the resignation or removal of the Trustee.

Appears in 1 contract

Samples: Trust Agreement (Lehman Mortgage Trust 2007-8)

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Fees and Expenses of Trustee and Custodian. The Trustee shall be entitled to receive, and is authorized to pay itselfitself on each Distribution Date, the Trustee Fee for such Distribution Date and 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. The provisions of this Section 6.12 shall survive the termination of this Agreement and the resignation or removal of the Trustee.

Appears in 1 contract

Samples: Trust Agreement (Lehman Mortgage Trust 2008-6)

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