Common use of Indemnification of the Master Servicer and Depositor by the Trustee Clause in Contracts

Indemnification of the Master Servicer and Depositor by the Trustee. The Trustee shall indemnify and hold harmless the Master Servicer and the Depositor and any director, officer or agent thereof against any loss, liability or expense, including reasonable attorney's fees, arising out of, in connection with or incurred by reason of willful misfeasance, bad faith or negligence in the performance of duties of the Trustee or by reason of reckless disregard of its obligation to deliver any information, report, certification, accountants' letter or other material required to comply with Regulation AB. Any payment pursuant to this Section made by the Trustee to the Master Servicer or the Depositor shall be from such entity's own funds, without reimbursement therefor. The provisions of this Section 8.15 shall survive the termination of this Agreement. Notwithstanding anything in this Agreement to the contrary, in no event shall the Trustee be liable for any special, indirect or consequential loss or damage of any kind whatsoever (including but not limited to lost profits) resulting from the Trustee's nonperformance of its duties or obligations to deliver any information, report, certification, accountants' letter or other material required to comply with Regulation AB, even if the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action.

Appears in 29 contracts

Samples: Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-Ar11 Trust), Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-9 Trust), Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-Ar4 Trust)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!