Common use of Indemnification of the Trust by the Servicer Clause in Contracts

Indemnification of the Trust by the Servicer. The Servicer shall indemnify and hold harmless the Trust, the Indenture Trustee and the Insurer and its officers, directors, agents and employees from and against any loss, liability, expense, damage or injury suffered or sustained by reason of the Servicer’s willful misfeasance, bad faith or gross negligence in the performance of its activities in servicing or administering the Mortgage Loans pursuant to this Agreement, including, but not limited to, any judgment, award, settlement, reasonable fees of, counsel of its selection and other costs or expenses incurred in connection with the defense of any actual or threatened action, proceeding or claim related to the Servicer’s misfeasance, bad faith or gross negligence. Any such indemnification shall not be payable from the assets of the Trust. The provisions of this indemnity shall run directly to and be enforceable by an injured party subject to the limitations hereof. The provisions of this Section 6.06 shall survive termination of the Agreement or the earlier of the resignation or removal of the Indenture Trustee.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (IndyMac Home Equity Mortgage Loan Asset-Backed Trust, Series 2007-H1), Sale and Servicing Agreement (Indymac MBS Inc), Sale and Servicing Agreement (IndyMac Home Equity Mortgage Loan Asset-Backed Trust, Series 2006-H4)

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Indemnification of the Trust by the Servicer. The Servicer shall indemnify and hold harmless the Trust, the Indenture Owner Trustee and the Insurer and its officers, directors, agents and employees Indenture Trustee from and against any loss, liability, expense, damage or injury suffered or sustained by reason of the Servicer’s willful misfeasance, bad faith 's activities or gross negligence in the performance of its activities omissions in servicing or administering the Mortgage Loans pursuant to that are not in accordance with this AgreementAgreement or breach of representations and warranties made herein, including, but not limited to, any judgment, award, settlement, reasonable attorneys' fees of, counsel of its selection and expenses and other costs or expenses incurred in connection with the defense of any actual or threatened action, proceeding or claim related to the Servicer’s misfeasance, bad faith or gross negligenceclaim. Any such indemnification indemnification, including any amounts the Issuer shall cause the Servicer to pay pursuant to Section 6.7 of the Indenture, shall not be payable from the assets of the Trust. The provisions of this indemnity shall run directly to and be enforceable by an injured party subject to the limitations hereof. The provisions of this Section 6.06 5.06 shall survive termination of the Agreement or the earlier of the resignation or removal of the Indenture Trusteethis Agreement.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Greenpoint Mortgage Securities Inc/), Sale and Servicing Agreement (Greenpoint Mortgage Securities Inc/), Sale and Servicing Agreement (Sequoia Residential Funding Inc)

Indemnification of the Trust by the Servicer. The Servicer shall indemnify and hold harmless the Trust, the Indenture Owner Trustee and the Insurer and its officers, directors, agents and employees Indenture Trustee from and against any loss, liability, expense, damage or injury suffered or sustained by reason of the Servicer’s willful misfeasance, bad faith activities or gross negligence in the performance of its activities omissions in servicing or administering the Mortgage Loans pursuant to that are not in accordance with this AgreementAgreement or breach of representations and warranties made herein, including, but not limited to, any judgment, award, settlement, reasonable attorneys’ fees of, counsel of its selection and expenses and other costs or expenses incurred in connection with the defense of any actual or threatened action, proceeding or claim related claim. The Servicer shall pay the expenses and provide the protections and indemnities to the Servicer’s misfeasanceIndenture Trustee provided for in Section 6.7 of the Indenture, bad faith or gross negligenceit being intended that, wherever in such Section 6.7 reference is made “to the extent provided in the Sale and Servicing Agreement,” this Agreement so provides. Any such indemnification indemnification, including any amounts the Servicer is required to pay pursuant to Section 6.7 of the Indenture, shall not be payable from the assets of the Trust. The provisions of this indemnity shall run directly to and be enforceable by an injured party subject to the limitations hereof. The provisions of this Section 6.06 5.06 shall survive termination of the Agreement or the earlier of the resignation or removal of the Indenture Trusteethis Agreement.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Greenpoint Mortgage Securities LLC), Sale and Servicing Agreement (GreenPoint Home Equity Loan Trust 2004-4), Sale and Servicing Agreement (Greenpoint Mortgage Securities LLC)

Indemnification of the Trust by the Servicer. The Servicer shall indemnify and hold harmless the Trust, the Indenture Owner Trustee and the Insurer and its officers, directors, agents and employees Indenture Trustee from and against any loss, liability, expense, damage or injury suffered or sustained by reason of the Servicer’s willful misfeasance, bad faith activities or gross negligence in the performance of its activities omissions in servicing or administering the Mortgage Loans pursuant to that are not in accordance with this AgreementAgreement or breach of representations and warranties made herein, including, but not limited to, any judgment, award, settlement, reasonable attorneys’ fees of, counsel of its selection and expenses and other costs or expenses incurred in connection with the defense of any actual or threatened action, proceeding or claim related to the Servicer’s misfeasance, bad faith or gross negligenceclaim. Any such indemnification indemnification, including any amounts the Issuer shall cause the Servicer to pay pursuant to Section 6.7 of the Indenture, shall not be payable from the assets of the Trust. The provisions of this indemnity shall run directly to and be enforceable by an injured party subject to the limitations hereof. The provisions of this Section 6.06 5.06 shall survive termination of the Agreement or the earlier of the resignation or removal of the Indenture Trusteethis Agreement.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Greenpoint Mortgage Securities LLC), Sale and Servicing Agreement (Sequoia Mortgage Funding Corp)

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Indemnification of the Trust by the Servicer. The Servicer shall indemnify and hold harmless the Trust, Trust and the Indenture Trustee and the Insurer and its officers, directors, agents and employees from and against any loss, liability, expense, damage or injury suffered or sustained by reason of the Servicer’s willful misfeasance, bad faith or gross negligence in the performance of its activities in servicing or administering the Mortgage Loans pursuant to this Agreement, including, but not limited to, any judgment, award, settlement, reasonable fees of, counsel of its selection and other costs or expenses incurred in connection with the defense of any actual or threatened action, proceeding or claim related to the Servicer’s misfeasance, bad faith or gross negligence. Any such indemnification shall not be payable from the assets of the Trust. The provisions of this indemnity shall run directly to and be enforceable by an injured party subject to the limitations hereof. The provisions of this Section 6.06 shall survive termination of the Agreement or the earlier of the resignation or removal of the Indenture Trustee.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Indymac Abs Inc)

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