Common use of Grantor Trustee not Required to Make Investigation Clause in Contracts

Grantor Trustee not Required to Make Investigation. The Grantor Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, or other paper or document (provided the same appears regular on its face) or to take any remedial action, unless directed in writing to do so by the Grantor Trust Holder; provided however, that if the payment to the Grantor Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of any such investigation or the taking of any such remedial action so directed by the Grantor Trust Holder is, in the opinion of the Grantor Trustee, not reasonably assured to the Grantor Trustee by the security afforded to it by the terms of this Agreement, the Grantor Trustee may require reasonable agreement for the payment or reimbursement of any such expense or security for any such liability as a condition to so proceeding. The reasonable expense of every such investigation so directed by the Grantor Trust Holder shall be paid by the Grantor Trust Holder or, if paid by the Grantor Trustee, shall be repaid by the Grantor Trust Holder upon demand.

Grantor Trustee not Required to Make Investigation. The Grantor Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, or other paper or document (provided the same appears regular on its face) or to take any remedial action, unless directed in writing to do so by the Grantor Trust Holder; provided however, that if the payment to the Grantor Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of any such investigation or the taking of any such remedial action so directed by the Grantor Trust Holder is, in the opinion of the Grantor Trustee, not reasonably assured to the Grantor Trustee by the security afforded to it by the terms of this Agreement, the Grantor Trustee may require reasonable agreement security or indemnity for the payment or reimbursement of any such expense or security for any such liability as a condition to so proceeding. The reasonable expense of every such investigation so directed by the Grantor Trust Holder shall be paid by the Grantor Trust Holder or, if paid by the Grantor Trustee, shall be repaid by the Grantor Trust Holder upon demand.

Grantor Trustee not Required to Make Investigation. The Grantor Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, or other paper or document (provided the same appears regular on its face) or to take any remedial action, unless directed in writing to do so by the Grantor Trust Holder; provided howeverPROVIDED HOWEVER, that if the payment to the Grantor Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of any such investigation or the taking of any such remedial action so directed by the Grantor Trust Holder is, in the opinion of the Grantor Trustee, not reasonably assured to the Grantor Trustee by the security afforded to it by the terms of this Agreement, the Grantor Trustee may require reasonable agreement for the payment or reimbursement of any such expense or security for any such liability as a condition to so proceeding. The reasonable expense of every such investigation so directed by the Grantor Trust Holder shall be paid by a nonrecourse obligation of the Grantor Trust Holder or, if paid by to pay the Grantor Trustee, shall be repaid by the Grantor Trust Holder Trustee upon demand, but only to the extent that excess funds are available therefor.